Although crypto startups have been capitulating en-masse due to financial restraints, a direct byproduct of Bitcoin’s rapid drawdown in value, reports indicate that a promising stablecoin venture has folded due to regulatory qualms. $133M Crypto Project Folds Due To “Regulatory Headwinds” In recent months, stablecoins, cryptocurrencies tied to an asset deemed “stable” (ex. U.S. dollar, gold, etc.), have seen an unparalleled rise to prominence. Collaborating with Coinbase, Boston-based Circle launched USD Coin (USDC), while Winklevoss Twins-led Gemini, Paxos, and other leading startups also joined the fray with their own promising forays into the stablecoin...
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