Stablecoin

Exor, the Agnelli family’s investment company, has unanimously rejected Tether’s €1 billion bid to acquire Juventus, maintaining full control over the Italian football club.

Stablecoin issuer Tether has submitted a $1 billion cash offer to acquire Juventus football club, targeting the 65.4% majority stake owned by Exor. The bid has reportedly been rejected, highlighting Tether’s expansion beyond crypto and raising regulatory questions.

Klarna is developing a crypto wallet with Privy to make digital assets accessible to its millions of users, focusing on simplicity rather than trading features.

Terraform Labs co-founder Do Kwon has been sentenced to 15 years in prison by a New York court after pleading guilty. The sentence follows the catastrophic collapse of the Terra-Luna ecosystem, which wiped out billions of dollars from the crypto market and continues to influence regulatory approaches to stablecoins.

S&P and HSBC have issued new warnings about Tether (USDT), the world’s largest stablecoin. They cite concerns over the quality and liquidity of its reserves, raising the risk of a potential de-pegging event that could impact the entire crypto market.

A consortium of 10 European banks, including BNP Paribas, is developing a euro-backed stablecoin to compete with US dollar stablecoins. The project will be registered in Amsterdam under the name Qivalis and aims for launch in H2 2026.

S&P Global Ratings has downgraded Tether’s USDT to its lowest stability level, citing insufficient reserves to cover a major Bitcoin price drop and a growing portfolio of risky assets.

U.S. Bank, the fifth-largest bank in the U.S., is developing a stablecoin on the Stellar network, joining other major financial institutions exploring digital currencies. The move is partly driven by new U.S. legislation, the GENIUS Act, which aims to regulate and encourage the use of dollar-pegged stablecoins.

Klarna, the ‘buy now, pay later’ giant, has announced it will launch a U.S. dollar-backed stablecoin called KlarnaUSD in 2026. The news comes as the company also prepares for a major U.S. stock market debut with a targeted $14 billion valuation.