Happy Thursday, Zingernation! Rags-to-riches stories are a dime a dozen in the cryptocurrency space, so here’s a trade loss story. An anonymous cryptocurrency trader, aptly named "Tarded Degen Gambler," shared a screenshot of a massive six-figure trading loss on X. In a recent post, the trader confirmed the liquidation, adding that "I'm changed man now" and vowing to use "0 leverage" in the future to not get fully liquidated again.

Today, we’re taking a look at how stablecoins show promising results for the remittance industry, SEC delayed the BlackRock Ethereum ETF decision and more.

Plus, this company is offering free croissants for life.

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MARKET SNAPSHOT

FINTECH FOCUS

Can Stablecoins Boost Remittances?

Briefly: Stablecoins show promising results for the remittance industry.

What: Remittances are a crucial component of the global economy. Its positive impact is more evident in labor-intensive and emerging countries, comprising about 10% of their GDP. Many of their citizens working in other countries send money to their loved ones via cross-border transfers. These are then accounted for as remittances.

So? Cryptocurrencies can maintain a stable value since they are pegged to stable assets like the USD. In turn, they can help stabilize currency conversion charges to lessen the impact of exchange rates. They can also be sent and converted quickly and safely across countries since they are based on blockchain technology.

What Next: Stablecoins show promising results for the remittance industry. Even so, we must consider several issues and dangers before allowing it to penetrate the mainstream remittance market. Read more here.

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FIVE ZINGERS

For Meme Coins: Avalanche foundation reveals criteria for supporting community coins through its $100M Culture Catalyst fund.

Satoshi > SEC: Bitwise Asset Management stepped into the spotlight yesterday by revealing the digital wallet addresses of its Bitwise Bitcoin ETF.

TSLA Earnings: How much does Bitcoin need to reach for Tesla to recover its initial $1.5B investment?

New Routes: Fintech giant Revolut has launched a service, Mobile Wallets, designed to make it easy to send money abroad.

Merchant Side Fraud: Open banking platform Tink has launched a rules-based risk engine to protect merchants from fraud on instant payment rails.

CRYPTO CORNER

SEC Delays BlackRock Ethereum ETF Decision Until March

Briefly: The SEC has postponed the deadline for passing a judgment on the proposed spot Ethereum ETF exchange-traded fund by BlackRock to March 10.

What Happened: The SEC extended the decision-making time frame for the proposed rule amendment Wednesday, citing the need for "sufficient time to consider the proposed rule change and the issues raised therein." BlackRock filed the application with the SEC on Nov. 21.

Why It Matters: Spot Ethereum ETFs have been getting increasing attention, with BlackRock and Fidelity among the contenders for approval. The delay in the SEC’s decision has been widely expected.

What Next: Read more here.

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