# Сопутствующие статьи по теме USD

Новостной центр HTX предлагает последние статьи и углубленный анализ по "USD", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

As the Yuan Breaks 7, Why Is the Dollar Stablecoin USDT Trading at a Deep Discount?

The Chinese yuan (CNH) broke through the key 7.0 per dollar level in late December 2025, reaching its strongest point since Q3 2024. Concurrently, the USDT stablecoin experienced a rare and significant discount in its over-the-counter (OTC) price in China, falling to around 6.83 yuan—a negative premium of approximately 2.48% against the official exchange rate. This divergence is attributed to two main factors. First, a major external driver is the weakening US dollar. The dollar index fell 9% in 2025, its worst performance in eight years, driven by expectations of a more dovish Federal Reserve under new leadership and a reassessment of the "US exceptionalism" trade. This provided room for non-US currencies like the yuan to appreciate. Second, and more critically for USDT, was a significant regulatory crackdown in China. In early December 2025, Chinese regulators explicitly brought stablecoins like USDT under supervision to combat illegal cross-border capital flows and money laundering. This caused OTC traders to pause operations and many holders to panic-sell their USDT for yuan, creating a surge in supply and a collapse in demand that severely depressed its local price. Analysts conclude that the era of a perpetually strong dollar providing one-way gains is over. Market participants are now advised to move away from betting on unilateral currency moves and instead adopt a risk-neutral stance in a new environment of heightened volatility.

比推12/30 14:25

As the Yuan Breaks 7, Why Is the Dollar Stablecoin USDT Trading at a Deep Discount?

比推12/30 14:25

Bitcoin Supports The US Dollar’s Reserve Status, Says Coinbase CEO

Coinbase CEO Brian Armstrong argues that Bitcoin strengthens the US dollar by acting as a market-based constraint on fiscal and monetary excess. He contends that Bitcoin creates healthy competition, serving as a "check and balance" against high inflation and deficit spending. By offering an alternative store of value, Bitcoin increases the political and economic costs of poor monetary policy, as capital can flee to Bitcoin during periods of uncertainty. This external pressure incentivizes policymakers to maintain currency stability, thereby helping the US retain its reserve currency status. Armstrong suggests that Bitcoin could extend the "American experiment" by reinforcing monetary credibility amid global competition and domestic fiscal challenges.

bitcoinist12/29 17:03

Bitcoin Supports The US Dollar’s Reserve Status, Says Coinbase CEO

bitcoinist12/29 17:03

The State Of US Stablecoin Legislation: Unresolved Issues And Challenges

In a recent analysis, Colin Wu highlights the complex challenges and unresolved issues stemming from the GENIUS Act, a US stablecoin law enacted under the Trump administration. While the act is seen as a win for digital asset adoption, it has intensified global demand for US dollars and Treasury securities, inadvertently benefiting Trump-linked crypto industry associates. This development complicates global dollar flow oversight and threatens the monetary sovereignty of other nations by enabling less observable wealth extraction through USD stablecoins. The act’s reserve requirements, including bank deposits and short-term Treasuries, risk instability if asset values decline. Moreover, stablecoin regulation may extend to all crypto assets, including Bitcoin and RWAs, as they rely heavily on stablecoins. Currently, unregulated firms profit from crypto trading due to banks' inability to participate, prompting regulators to accelerate oversight. Once crypto gains legal recognition, banks are expected to dominate, tokenizing deposits and integrating with traditional finance. However, this shift toward heavy bank regulation could undermine the stablecoin industry's foundations, making it unwise for other nations to emulate the US approach.

bitcoinist12/27 11:02

The State Of US Stablecoin Legislation: Unresolved Issues And Challenges

bitcoinist12/27 11:02

Renminbi Exchange Rate Returns to the '6' Era

The Chinese yuan (CNH) has appreciated against the US dollar, breaking through the key 7.0 threshold to re-enter the "6-era" for the first time in 15 months. This shift is attributed to seasonal year-end corporate dollar-to-yuan conversions, a weaker US dollar due to Federal Reserve rate cuts, and strong export performance—with China’s trade surplus exceeding $1 trillion for the first 11 months of 2025. Structural upgrades in exports, such as growth in integrated circuits and electric vehicles, have also strengthened the currency. Analysts from Goldman Sachs suggest the yuan was undervalued by nearly 30%, comparing current conditions to the mid-2000s—a period of sustained yuan strength. The appreciation may benefit import-reliant sectors and firms with dollar-denominated debt, while potentially pressuring traditional exporters. For investors, a stronger yuan could support A-share market performance and reduce overseas consumption costs, though currency speculation remains risky. Looking ahead, institutions like Goldman Sachs and Yuekai Securities expect gradual, managed yuan appreciation to continue into 2026, possibly reaching 6.8 against the dollar. However, the yuan has depreciated against a basket of other major currencies this year. Policy emphasis remains on maintaining exchange rate stability within a reasonable range.

marsbit12/26 02:35

Renminbi Exchange Rate Returns to the '6' Era

marsbit12/26 02:35

Renminbi Exchange Rate Returns to the '6' Era

Renminbi (RMB) re-entered the "6-era" against the U.S. dollar on December 25, marking a 15-month high for the offshore exchange rate. This shift follows a prolonged expectation of RMB appreciation, bolstered by a Goldman Sachs report indicating the currency is undervalued by nearly 30% relative to the dollar—a level comparable to the mid-2000s, which preceded a decade-long appreciation cycle. Key drivers include seasonal year-end forex settlement by exporters, a record trade surplus exceeding $1 trillion in the first 11 months, and a weaker dollar due to Federal Reserve rate cuts. Geopolitical factors, such as U.S. trade policy uncertainty and credit rating downgrades, also diverted global capital toward RMB assets. Economists note the appreciation is supported by China’s economic resilience, with upgraded GDP growth forecasts and a shift toward high-value exports like integrated circuits and electric vehicles. While the rally may benefit import-dependent sectors and firms with dollar debt, it pressures traditional exporters. For investors, RMB strength correlates with potential A股 gains but cautions against speculative forex moves. Analysts expect gradual, managed appreciation ahead, with stability emphasized by policymakers.

深潮12/26 01:43

Renminbi Exchange Rate Returns to the '6' Era

深潮12/26 01:43

Why Is America Embracing Crypto? The Answer May Lie in Its $37 Trillion Debt

The article explores the claim by a senior Russian advisor that the U.S. is planning to use cryptocurrencies and stablecoins to devalue its $37 trillion national debt by shifting it into a "crypto cloud," effectively forcing the burden onto the global economy. This strategy, while seemingly extreme, aligns with historical U.S. practices of debt dilution through inflation and monetary expansion. Stablecoins, backed by U.S. Treasury assets, could allow the U.S. to export inflation globally by distributing dollar-denominated debt to international holders. When the dollar inflates, the loss in purchasing power is shared by all stablecoin users, not just U.S. citizens. This system offers the control of a central bank digital currency (CBDC) without the political baggage. However, trust remains a critical issue: stablecoin reserves cannot be fully independently verified, and the U.S. could unilaterally change rules, as it did when decoupling the dollar from gold in 1971. While a direct government-led Bitcoin acquisition strategy (as suggested by figures like Michael Saylor) is unlikely, the U.S. may instead leverage private sector entities to accumulate crypto assets discreetly, later integrating them into national strategy. The article concludes that some form of crypto-assisted debt dilution is plausible, if not inevitable, given the scale of U.S. debt and its historical approach to monetary policy.

Odaily星球日报12/24 10:39

Why Is America Embracing Crypto? The Answer May Lie in Its $37 Trillion Debt

Odaily星球日报12/24 10:39

The Rise and Fall of Binance's Hegemony: The Stablecoin War from BUSD's 'Unification' to $U's 'Dominance'

"Binance's Stablecoin Wars: From BUSD's 'Unification' to $U's 'Domination'" This article chronicles Binance's evolving strategy in the stablecoin arena, tracing its journey from aggressive dominance to a more sophisticated, aggregator model. The story begins with the ambitious launch of BUSD, a Paxos-issued stablecoin born from a partnership between Binance's CZ and Paxos's Richmond Teo. Binance's most aggressive move came in 2022 with a "liquidity unification" blitz, automatically converting user balances of USDC, USDP, and TUSD into BUSD and removing their trading pairs. This tactic briefly propelled BUSD to a $23 billion market cap. However, its downfall was swift. A critical structural flaw was its "Binance-Peg BUSD," an unregulated, shadow version on the BNB Chain that sometimes lacked sufficient collateral. This led to a regulatory "Valentine's Day massacre" in February 2023, when the NYDFS ordered Paxos to stop minting BUSD, effectively killing the project. In the subsequent vacuum, Binance first promoted the Hong Kong-based FDUSD as a transitional solution and created BFUSD, an internal, yield-bearing "reward asset" for use as futures collateral. The narrative then shifts to Binance's latest and most surprising play: United Stables ($U). This new "meta-stablecoin" represents a strategic evolution. Instead of trying to eliminate rivals like USDT and USDC, $U aggregates them, backing itself with a basket of these major stablecoins. Notably, it also includes USD1, a stablecoin from the Trump-linked World Liberty Financial project, led by none other than Richmond Teo. A key innovation of $U is its design for the "AI economy," featuring gasless transactions (EIP-3009) to facilitate machine-to-machine micropayments. The article concludes that Binance's strategy has evolved from the "霸道" (hegemonic) force of BUSD to the "大同" (greater unification) approach of $U, which seeks to absorb existing liquidity rather than destroy it, while positioning itself for the future frontier of AI-driven finance.

marsbit12/19 12:13

The Rise and Fall of Binance's Hegemony: The Stablecoin War from BUSD's 'Unification' to $U's 'Dominance'

marsbit12/19 12:13

Global debt markets show dollar dominance moves in cycles, US Fed says

A new Federal Reserve discussion paper reveals that the U.S. dollar’s dominance in global debt markets has moved in cycles over the past 60 years, with no clear long-term trend toward either dollarization or de-dollarization. The study identifies three distinct "dollarization waves" since the 1960s, showing currency usage shifts are cyclical rather than structural. As of 2024, emerging markets still rely heavily on dollar-denominated debt, which makes up about 80% of their international bonds. Meanwhile, the rise of dollar-pegged stablecoins like USDT and USDC—which together represent 85% of the $309.6 billion stablecoin market—has reinforced dollar dominance. These stablecoins are backed significantly by U.S. Treasury holdings, making their issuers major holders of U.S. government debt. The report concludes that despite vulnerabilities, the dollar’s global role remains unchallenged due to a lack of alternatives. Efforts to internationalize other currencies, including the Chinese renminbi, have seen limited success. European policymakers have expressed concern over the growing influence of dollar-backed stablecoins.

cointelegraph12/18 21:38

Global debt markets show dollar dominance moves in cycles, US Fed says

cointelegraph12/18 21:38

SoFi rolls out US dollar stablecoin issued by bank subsidiary

SoFi Technologies has launched SoFiUSD, a fully reserved stablecoin issued by its banking subsidiary, SoFi Bank. The stablecoin is backed one-to-one by cash and is redeemable on demand. Initially issued on Ethereum, it is designed for low-cost settlement across payments, card networks, remittances, and enterprise platforms. SoFi's stock rose 5% following the announcement. This move aligns with a broader trend of major U.S. banks, including JPMorgan Chase and Citigroup, exploring stablecoins following the passage of the GENIUS Act, which clarified the regulatory framework for such digital tokens in the United States.

cointelegraph12/18 18:10

SoFi rolls out US dollar stablecoin issued by bank subsidiary

cointelegraph12/18 18:10

HashKey Supports Nighttime Currency Exchange, Becoming First Licensed Exchange to Fully Enable 24/7 Fiat Conversion

Hong Kong's licensed virtual asset exchange platform, HashKey Exchange, has announced the launch of overnight USD-HKD currency exchange services, making it the first licensed platform in Hong Kong to offer round-the-clock fiat currency conversion for both retail and institutional clients. This upgrade allows users to enjoy near-native crypto market liquidity at any time of day. Previously, currency exchanges were limited to banking hours, restricting institutions from hedging overnight and individuals from transferring funds promptly. With the new service, HashKey will process conversion requests outside regular banking hours, enabling seamless transactions without delays. As a licensed platform, all funds used in overnight exchanges are fully segregated from operational funds and monitored in real-time to ensure security. The move enhances Hong Kong’s digital finance infrastructure, providing both institutional and retail users with continuous, regulated, and reliable conversion services. Randall Chan, Managing Director of HashKey Exchange, stated that fiat liquidity has been a major barrier for institutional entry into digital assets. Overnight conversion reduces time constraints for hedging, transfers, and settlements, allowing secure capital flow at all hours. The platform aims to further integrate trading, deposits/withdrawals, custody, and settlement into a comprehensive liquidity infrastructure.

深潮12/18 04:50

HashKey Supports Nighttime Currency Exchange, Becoming First Licensed Exchange to Fully Enable 24/7 Fiat Conversion

深潮12/18 04:50

活动图片

Популярные категорииright-arrow

Популярные тегиright-arrow

Project Updates