Major Banks Launch Joint USD Stablecoin as Bitcoin Faces Market Pressure

A coalition of 21 global banks, including Citi and Goldman Sachs, has announced the development of a joint USD stablecoin, with Citi projecting the market to reach $1.9 trillion by 2030. Meanwhile, Bitcoin dropped to the mid-$76,000 range amid geopolitical tensions in Iran, while spot Bitcoin ETFs saw $236 million in outflows. Other developments include the SEC's push to adopt blockchain as the official record for securities, a lawsuit against Tether regarding the freezing of $42.4 million, and JPMorgan's scrutiny of Robinhood users purchasing meme coins vi