OUSD Is Live
Open USD (OUSD), the new stablecoin from Coinbase, Mastercard, Stripe, Visa and others launched yesterday. The token is issued by Bridge, the stablecoin infrastructure firm that Stripe acquired for $1.1 billion. OUSD is entering a stablecoin market worth >$300 billion and still dominated by two players: Tether's USDT, with about $143 billion in circulation, and Circle's USDC, with roughly $74 billion. Read more →
Robinhood launches perps, 24/7 stock trading, & more
This week was Robinhood’s (HOOD) annual HOOD Summit, where they unveil a slew of new products. At the event, the company announced a bunch of AI trading products, but also 24/7 trading for equities (pending regulatory approval), as well as perps in the U.S. Read more →
Daines Unveils Crypto Tax Bill Pairing Payment Relief With Wash-Sale Rules
Senator Steve Daines introduced the ADAPT Act yesterday, pairing simpler crypto tax rules with new limits on loss harvesting. The bill would eliminate gain-or-loss tracking on qualifying regulated stablecoin purchases and crypto used to pay network fees of $10 or less. It would also extend wash-sale rules to digital assets, restricting investors from selling at a loss and quickly buying back to claim a tax break. Republican Sens. Tim Scott, Cynthia Lummis and Bernie Moreno joined as co-sponsors. Read more →
📥️ Want to advertise in CoinSnacks? Learn More