
DWS, Flow Traders and Galaxy-Backed Venture Launches Euro Stablecoin
The token — called EURAU — is launching on the Ethereum blockchain and is fully collateralized with reserves held at multiple European banks, the company, called AllUnity, said in a statement on Thursday. The stablecoin is aligned with the European Union's regulatory framework for cryptoassets, the company said. Bullish will serve as its premier listing exchange.

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Yahoo
an hour ago
- Yahoo
Asia Morning Briefing: SEC's In-Kind BTC, ETH ETF Redemption Shift Happened Years Ago in Hong Kong
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Wednesday in the U.S., the Securities and Exchange Commission announced that investors are now allowed to do in-kind redemptions for bitcoin and ether exchange-traded funds (ETFs). The decision lets institutional traders create and redeem ETF shares directly in BTC or ETH, improving efficiency by avoiding fiat conversions. But in Hong Kong, this isn't anything new. In late 2023, during the early days of the regulatory process to bring crypto ETFs to the market (they launched in April 2024), the Securities and Futures Commission – the city's markets regulator – mentioned in a circular that in-kind redemptions would be allowed. Part of the reason why they were allowed was a technical one: ETF issuers were required to partner with licensed local crypto exchanges and use custody solutions. This wasn't the case in Ontario, Canada, which had crypto ETFs first, nor the U.S. In Hong Kong there wasn't the same debate about the status of Ether as a security as there was in the U.S. In contrast, U.S. regulators wrestled with concerns over custody, anti-money laundering risks, and potential market manipulation. While the SEC never explicitly banned in-kind redemptions, ETF sponsors were required to remove them from early filings. The Commission favored a cash-only approach as a cautious first step, citing untested operational processes and uncertainty over how to securely settle large crypto transfers. That stance wasn't without internal pushback. SEC Commissioner Mark Uyeda publicly criticized the agency's approach during the January 2024 approval of spot bitcoin ETFs. He pointed out that commodity-based ETFs, like those backed by gold, routinely use in-kind redemptions and questioned why crypto was being treated differently. Uyeda argued that the SEC failed to explain why it considered cash-only redemptions 'non-novel,' despite the clear deviation from standard ETF practice, and warned that the lack of reasoning set a troubling precedent. The episode highlights how Hong Kong's regulator moved with greater clarity and cohesion from the start as it brought these products to market. By enabling in-kind redemptions early on, and pairing them with strict licensing and custody requirements, the SFC avoided the internal contradictions and policy drift that defined the U.S. rollout. However, there's going to be one side effect from all of this: tracking flows. Crypto data aggregator SoSoValue, which provides daily flow updates for crypto ETFs, warns that "subscriptions of physical bitcoin do not generate cash inflows for the [ETFs], so they cannot be simply counted in daily net inflow statistics." They've tried to create methods and models to work around this, but say they have been unsuccessful so far. So unless ETF issuers in the U.S. publish daily flow in cash and crypto, tracking this metric is going to be an issue. And it's an important one to track, as it shows investor sentiment for the asset class. Market Movements BTC: Bitcoin is trading above $117,500 after a modest rebound, but momentum remains weak as ETF outflows persist, whales take profit near $118K, and macro headwinds, including a firm dollar and hawkish Fed expectations, continue to limit upside. ETH: ETH is trading above $3,700. "Ethereum has proven in parallel with BTC since its inception to be the second most battle-tested network, and very likely institutions now see Ether the token as a formidable asymmetric bet alongside bitcoin," said March Zheng, General Partner of Bizantine Capital, in a note to CoinDesk. Gold: Gold rebounded to $3,334 on Tuesday, snapping a four-day losing streak ahead of the Fed meeting, as traders priced in steady rates despite weak U.S. job data Nikkei 225: Asia-Pacific markets opened mixed as U.S. Commerce Secretary Howard Lutnick confirmed Trump's Friday tariff deadline will proceed as planned, with Japan's Nikkei 225 flat at the open. S&P 500: U.S. stocks closed lower Tuesday, with the S&P 500 ending a six-day record streak, as investors weighed earnings, economic data, and the upcoming Fed rate decision. Elsewhere in Crypto: Tornado Cash Developer Roman Storm Will Not Take the Stand, Lawyers Say (CoinDesk) Cornell Tech Professor Warns AI Agents And Crypto Spell Trouble (Bloomberg) Sen. Lummis introduces bill requiring Fannie Mae and Freddie Mac to consider crypto as an asset for mortgages (The Block)


Business Insider
an hour ago
- Business Insider
Tesla (TSLA) Rebounds in Spain with 27% Sales Surge in July
Tesla (TSLA) has reported a rise in Spain's electric vehicle (EV) sales after a rocky start to 2025. In July, the EV giant delivered 702 new cars, marking a 27% jump from the same month last year. This increase was aided by an overall rise in the country's EV deliveries, with total sales of electric and hybrid cars up 155%. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Tesla's sales in Spain are up just 1.1% this year, but July showed signs of improvement. The rise likely came from renewed interest in the updated Model Y and Model 3, helping Tesla bounce back in parts of Europe despite headwinds. Also, in Norway, registrations grew by 83.4% to 838 vehicles, with total sales this year reaching 13,877. This increase was primarily due to Tesla's revamped Model Y and Norway's strong push for EVs. Tesla's gains in Spain and Norway contrast sharply with its struggles elsewhere in Europe. July sales fell in countries like Sweden, Denmark, and France. Key factors affecting Tesla's European market share are growing anti-Musk sentiment, increased competition, and challenges with its product lineup and production. In the second half of 2025, Tesla will aim to keep its positive momentum in Spain and Norway while facing challenges in other parts of Europe. For now, July's strong sales bring an optimistic boost for the EV maker. Is TSLA Stock a Buy? Turning to Wall Street, TSLA stock has a Hold consensus rating based on 14 Buys, 15 Holds, and eight Sells assigned in the last three months. At $310.84, the average Tesla price target implies a 1.08% upside potential. The stock has declined 19.65% over the past six months.

Hypebeast
3 hours ago
- Hypebeast
Seiko's New Prospex Alpinist Takes Cue From the 'Night Sky'
Summary After unveilingthree new Speedtimers watchesin collaboration withDatsun,Seikoreveals a new limited-editionProspexAlpinist model exclusive to the European market. Dubbed 'Night Sky,' the new timepiece carries the reference number of SPB531J1. Drawing inspiration from the deep blue heavens above alpine peaks, this new model nods to the original 1959 Alpinist designed for JapaneseYama-otokomountain guides, while updating its aesthetic for modern explorers. At its heart lies its 39.5 mm stainless-steel case with pronounced crown guards and a double-crown system, the midnight blue dial features a subtle vertical brushed pattern, dark gray numerals, lume-filled cathedral hands and a cyclops-magnified date window at 3 o'clock. Through the exhibition caseback, owners can admire Seiko's in-house 6R35 automatic movement, which delivers a 70-hour power reserve and stop-seconds function with an accuracy of –15/+25 seconds per day. Limited to 3,000 units, the Seiko Prospex Alpinist 'Night Sky' is available for inquiry via Seiko'sUK webstore. Set to release in September, the timepiece will retail for £780 GBP ( approx. $1,025 USD).