Technology

World Liberty Financial, a crypto venture backed by Donald Trump and his family, has launched a U.S. dollar-pegged stablecoin called USD1. The token is backed by U.S. Treasuries and cash equivalents and will soon go live on the Ethereum and Binance Smart Chain networks. CNBC reports: The development comes as the market cap for dollar-backed stablecoins -- cryptocurrencies that promise a fixed value peg to another asset -- has been climbing to new all-time-highs this year and has grown more than 46% in the past year, according to CryptoQuant. The market has long been dominated by Tether (USDT) and, more recently, Circle's USDC. "USD1 provides what algorithmic and anonymous crypto projects cannot -- access to the power of DeFi underpinned by the credibility and safeguards of the most respected names in traditional finance," said World Liberty Financial co-founder Zach Witkoff. "We're offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions." Alex Thorn is head of firmwide research at Galaxy Digital, said at the Digital Asset Summit: "Stablecoins are seen as more politically easy to do in Congress but actually will be dramatically more impactful to the United States and the world than market structure [legislation]. Who regulates who is important ... if you're one of the people that's going to be regulated, but the stablecoin bill could solidify dollar dominance for 100 years."

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According to Convergence Research, an estimated 46% of Canadian households didn't have a TV subscription with a cable, satellite, or telecom-based provider in 2024. MobileSyrup reports: In its latest annual "Couch Potato" report (PDF) on the streaming market, the firm notes that this was a four per cent increase from 2023 and that the number is expected to continue to rise to 54 per cent by 2027. Convergence notes that this marks a greater shift towards subscription video on demand services (SVOD) like Netflix and Disney+. To that point, the firm found that Canadian streaming subscription revenue grew 15 per cent year-over-year to $4.2 billion in 2024. At the same time, linear TV subscription revenue dropped five per cent to around $6.5 billion. Some other interesting findings from the report: - The 10 leading streaming providers raised prices in Canada by an average of six percent last year - Ad-enabled memberships are cost 39 percent less on average compared to ad-free options - Canadians subscribe to an average of 2.6 streaming platforms per household

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