Altcoin News Official TheBitTimes.com

Citigroup has invested in stablecoin infrastructure provider BVNK through Citi Ventures, just months after warning that the cryptos could drain deposits from traditional banks BVNK’s platform serves as an onramp and offramp for customers to move money between fiat and crypto. It is also backed by US crypto exchange Coinbase and fund manager Tiger Global Management. The investment underscores TradFi’s shift from caution to participation in the stablecoin ecosystem after the US GENIUS Act provided regulatory clarity over their status. BVNK Valuation Exceeds $750 Million After Citi Investment T he company has declined to disclose the amount Citi invested or at what valuation. But co-founder Chris Harmse recently confirmed that the investment has pushed its valuation well above the $750 million that was disclosed at its latest funding round. BVNK currently finds itself in a competitive market alongside newcomers such as Alchemy Pay, TripleA and even the well established Rip...

Hopes for a landmark October rollout of spot cryptocurrency exchange-traded funds (ETFs) have been dealt a major setback, with altcoins including XRP caught in regulatory gridlock. The delay stems from a combination of procedural changes at the Securities Exchange Commission (SEC) and the ongoing U.S. government shutdown.  In the days leading up to the shutdown, the SEC approved generic listing standards that eliminate the need for case-by-case 19b-4 filings.  In this case, exchanges were instructed to withdraw their pending applications under the old system, paving the way for a more streamlined framework that would speed up approvals once operations resumed. Stalled ETF momentum  For now, however, cryptocurrency journalist Eleanor Terrett noted that the shutdown has stalled that momentum.  With large portions of the SEC’s workforce furloughed, the agency is limited to handling fraud cases and emergencies, leaving routine but essential proces...