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Robinhood, Galaxy Digital, Kraken, and Paxos Launch New Stablecoin

A consortium of traditional finance and crypto companies, including Robinhood, Galaxy Digital, Kraken, and Paxos, has come together to support a new stablecoin pegged to the U.S. dollar. In a Nov. 5 statement, blockchain infrastructure company Paxos announced that this “open network” is designed to drive global adoption of stablecoins. “The lack of competition in the regulated stablecoin market has prevented the industry from reaching its full potential. USDG upends this dynamic with a more equitable model that will bring mainstream participants into the ecosystem and accelerate new stablecoin use cases,” stated Kraken co-CEO Arjun Sethi. The network’s aim is Financial Times (Crypto)

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Musk Jesus Solana Memecoin Will Explode 19,000% Before Exchange Listing, As Shiba Inu and BONK Underperform

Musk Jesus could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Musk Jesus (MUSKJES), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because MUSKJES is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Musk Jesus can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to Financial Times (Crypto)