Goldman, Citi Commit $270M to Their Own Stablecoin: Can Tether and Circle Hold On?
AI summary
Goldman Sachs, Citi and 19 other firms are funding a $270M stablecoin venture aimed at competing with Tether and Circle. The entry of major traditional banks into stablecoin issuance threatens the market share of the two dominant players. Traders should watch for pressure on Circle's stock and on USDT and USDC dominance as institutional-backed alternatives gain backing.
Narrative history
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3H AGOYou’re reading thisGoldman, Citi Commit $270M to Their Own Stablecoin: Can Tether and Circle Hold On?BeInCrypto · Score 65
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6H AGOThe Defiant · Score 65 · via Commit $270M, $270M Stablecoin
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6H AGOCoinDesk · Score 72 · via $270M stablecoin, $270M
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6H AGOCrypto Briefing · Score 65 · via Goldman Citi, $270M
