From Cointelegraph

August 2, 2024 5:00 PM:

Tether sets a new profit record, reaching $540 million in 2020 as it continues to dominate the stablecoin market. The company faces ongoing regulatory scrutiny and legal challenges related to its reserves.

The United Arab Emirates allows bank-linked crypto trading for the first time, as regulators work to establish a clear framework for the sector. This move is expected to boost adoption of digital assets in the region.

Polymarket sees rapid growth during the US elections, with trading volume reaching $2 million in a single day. The platform allows users to bet on the outcome of political events using cryptocurrencies.

Coinbase continues to expand its custodian arm, attracting institutional clients looking to enter the crypto market. The company’s focus on security and compliance positions it as a trusted partner for large investors.

Read more at CoinTelegraph: Crypto Biz: Stablecoins wave, crypto trading via UAE banks, and more