Today in crypto, USDC’s market cap is approaching a record $80 billion amid turmoil in Dubai’s real estate market, a US federal appeals court knocks back Custodia Bank’s request to review the Federal Reserve’s authority in granting master accounts. Meanwhile, the Ethereum foundation outlines how it will balance core values with ecosystem development.
USDC market cap nears record $80B amid ‘capital...
The article presents a complex and somewhat contradictory picture of the crypto landscape, highlighting both systemic shifts and localized reactions. The near-$80 billion USDC market cap is a significant development, but its connection to “capital flight” from the UAE requires careful scrutiny. Rami Al-Hashimi’s assertion, while presented as an analysis, relies heavily on anecdotal evidence – OTC desks struggling with demand – and lacks robust data. This aligns with ARC-0043 (Motte-and-Bailey) –...