US Treasury Releases Stablecoin Risk And Regulation Report – November 2

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$61,734

Bitcoin price has continued to range between $60,500 and $62,000 over the last day of trading, as volatility remains low.

Top-20 altcoins have had mixed results, as Ethereum gains 1%, Cardano falls 2% and Polkadot stands out with a 10% rise.

Top Stories for November 2, 2021 🔥

👉 US Treasury Releases Stablecoin Risk And Regulation Report

The US Treasury Department has released a long-awaited report on stablecoin risks and potential regulations, conducted by the President’s Working Group on Financial Markets.

The report highlights concerns about the possibility of runs on stablecoin reserves, insisting that there should be strict oversight and requirements for stablecoin issuers.

It was also suggested that the Securities and Exchange Commission and Commodity Futures Trading Commission should be involved in this regulation.

👉 Metaverse Project “The Sandbox” Raises $93M From SoftBank And Others

Metaverse project, The Sandbox, has successfully raised $93 million in Series B funding from SoftBank, Animoca Brands, True Global Ventures and others.

The project boasts a $2.46 billion market cap, according to cryptocurrency data aggregator CoinMarketCap, as well as 500,000 registered wallets and 12,000 unique digital land owners.

👉 Avalanche Unveils $200M Fund For Developer Incentives

The Avalanche Foundation has announced a $200 million fund which aims to incentivize developers to build on the Avalanche blockchain.

The fund, dubbed “Blizzard”, will provide liquidity to early-stage projects focusing on DeFi applications and NFTs on the platform, with the possibility of ongoing support.