11-7
Japan's FSA Supports Stablecoin Project by MUFG, SMFG, and Mizuho
Japan's Financial Services Agency announced November 7 its support for a stablecoin initiative involving three major banking groups. Finance Minister Satsuki Katayama confirmed the agency will evaluate cross-border payment applications from Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. The three banks, serving over 300,000 business partners collectively, had announced their collaboration approximately three weeks earlier.
11-7
11-7
Ethereum Falls 18% in Q4 Against Bitcoin's 9.41% Decline as Whale Accumulation Signals Potential Reversal
Ethereum declined 18% in Q4 compared to Bitcoin's 9.41% loss, with the ETH/BTC ratio falling 7% this week and breaking below the 0.36 level that held through October. Whales accumulated 394,682 ETH worth $1.37 billion on November 4 when prices dropped to $3,000, establishing an average cost basis of $3,488. Ethereum Open Interest has decreased $30 billion since mid-October, exceeding Bitcoin's $24 billion decline and indicating a deeper leverage flush.
11-7