Paxos CEO Charles Cascarilla announced the launch of the Global Dollar (USDG) stablecoin and its network, aimed at enhancing the utility of the dollar through 24/7 access and instant transfers. He emphasized that stablecoins can democratize financial access, allowing anyone to hold dollars without a bank account, and are crucial for onboarding users into Web3 by solving real-world problems.
In a significant political shift, the cryptocurrency industry funneled over $245 million into the recent elections, helping candidates like Bernie Moreno defeat long-standing incumbents and secure nearly 300 pro-crypto lawmakers in Congress. This strategic investment aimed to eliminate critics and bolster support for crypto-friendly regulations, particularly following the SEC's aggressive stance under Gary Gensler. With the backing of major crypto executives and PACs, the industry is poised to exert unprecedented influence over future legislative agendas.
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