- Celsius lawsuit against Tether advances, targeting $4B in allegedly improper Bitcoin liquidation
- Figma reveals $70M in Bitcoin ETF holdings and plans to buy $30M more
- UK pension firm’s 3% Bitcoin allocation returns 60%, prompting wider institutional interest
- Deutsche Bank-backed AllUnity stablecoin gains BaFin approval, aligning with MiCA rules
- South Korea suspends CBDC project as won-pegged stablecoins gain domestic traction
The Firepower Is Asymmetric
Celsius is dragging Tether to court. The $4 billion lawsuit is moving forward and it centers on Tether’s 39,500 Bitcoin sale during the collapse of Celsius. Celsius claims the liquidation was improper and that it cratered market value during a time of distress. If this thing gains traction, it could drag stablecoin mechanics into the spotlight in a way we have not seen before. Not just because of the money involved, but because of what it says about power dynamics in markets that claim to be decentralized. Celsius may be a ghost of its former self, but it still has teeth and apparently it still has a lawyer.
Figma is not playing around. During its IPO filing, the design giant disclosed $70 million in Bitcoin ETF holdings and has regulatory clearance to acquire $30 million more. When a company like Figma buys Bitcoin ETFs and then doubles down in public filings, it sends a signal to every boardroom still pretending that Bitcoin is a fringe play.
The UK is watching its pensions get orange pilled. Cartwright, a well-known pension trust, revealed that a three percent Bitcoin allocation delivered a sixty percent return over the last twelve months. That kind of performance does not go unnoticed. Now their clients are asking how to get more. We are not talking about hedge funds or degen traders. These are retirement funds, playing with real money, on behalf of real people. When pension managers start treating Bitcoin like insurance instead of speculation, that is not a trend. That is a shift in financial doctrine.
Germany is doing what Europe always does. It moves slow until it does not. Deutsche Bank and its asset management arm DWS have partnered with Galaxy and Flow Traders to launch a regulated euro stablecoin called AllUnity. The project just got the green light from BaFin, Germany’s financial regulator. It is MiCA compliant. It is euro backed. And it is institutionally aimed. This is Europe’s answer to Circle and USDC. It is also a statement that stablecoins are not going away. They are just getting dressed in regulation. Whether they get traction or not is irrelevant. They are being built with purpose.
The Bank of Korea just froze its central bank digital currency project. Official reason? They say they want to focus on stablecoins pegged to the Korean won. Real reason? Probably because no one wants a surveillance coin. Central banks have been pushing the CBDC idea for years. But reality is setting in. No one wants to use a financial instrument that tracks every movement and settles through the state. The people have other plans. And South Korea just blinked.
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