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The official also claimed the ECB has recently been hyping the stablecoin menace to bolster political support for its controversial digital euro project, an effort to build a pan-European payment system that, it says, would shield Europe's financial infrastructure from crypto-assets. Stablecoins denominated in dollars, which are backed primarily by U.S. treasuries, account for 99 percent of the $240 billion market, according to Frankfurt. The central bank fears that allowing dollar-backed stablecoin issuers to offer their product in both the U.S. and the EU could also favor “existing non-EU stablecoin...

NEW YORK — Wall Street shuddered, and a level of shock unseen since the outbreak of COVID-19 tore through financial markets worldwide Thursday on worries about the damage President Donald Trump’s newest set of tariffs could do to economies across continents, including his own.The S&P 500 sank 4.8%, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy in 2020. The Dow Jones Industrial Average dropped 1,679 points, or 4%, and the Nasdaq composite tumbled 6%.Related:D-FW Fortune 500s lose $49 billion...

SM's Mall of Asia along Manila Bay is the largest shop Source link...