As Congress gears up for its next session with a slew of what the industry hopes will be crypto-friendly lawmakers, Bitwise’s general counsel has her eye on stablecoin regulations. “The first Congressional focus point will no doubt be stablecoins,” Katherine Dowling, general counsel and CCO at Bitwise Asset Management, told Blockworks. Stablecoin regulation, namely about reserve reporting and liquidity requirements, has been a long time coming, Dowling said, pointing to the bipartisan bill lawmakers failed to pass last session. With much of the legwork already done, Dowling said stablecoin legislation has the potential to be an early win for Congressional members looking to solidify some sort of crypto policy. (Blockworks)

Economist Eswar Prasad warned that a bank run on Stablecoins could fallout into the U.S. bond markets if issuers sell U.S. Treasurys to honor redemptions.

Gradually, alongside the cryptocurrency industry, stablecoins are growing in strength and popularity. Their growth results from the stability they offer against cryptocurrency volatility.

Société Générale, a French multinational investment bank and financial services company, minted $7 million as a loan of dai stablecoin from its issuer MakerDAO.

Crypto banking group Silvergate Capital further cooled its stablecoin ambitions last week, slashing the value of assets that it purchased from a defunct Facebook crypto project. Silvergate disclosed that it took a $196 million impairment charge during its final fiscal quarter last year, writing down the value of intellectual property and technology it acquired from Diem Group early last year. The revised figure represents a 98% loss compared to the $200 million it paid for the assets. Silvergate had planned to launch a stablecoin using the assets last year, announcing plans to do so in its third fiscal quarter of 2021. (decrypt)

Orange Financial, a multi-chain yield farming treasury, is excited to announce its public mint date on February 1st, 2023. As the only NFT project to offer stablecoin rewards through yield farming to its holders, Orange Financial will revolutionize the world of yield farming and NFTs.

The U.S. Department of Justice is investigating the two brothers behind Solana stablecoin exchange Saber Labs, Ian and Dylan Macalinao, according to two people familiar with the matter.

DeFi firm Ondo Finance launched a tokenized fund on Jan. 10 that allows stablecoin holders to invest in bonds and U.S. Treasuries.

For stablecoin holders searching for risk-free safe havens, there’s one fresh option on the market: Ondo Finance’s new tokenized US Treasury and bond offerings. As of now, the fund is set to be split between three separate tokenized share classes, Ondo said on Tuesday. Each share class invests in a single short-term US Treasury and bond exchange-traded fund, “managed by institutions like Blackrock and PIMCO,” according to the firm. The minimum investment is 100,000 USDC under a management fee of 0.15%. Interested investors are subject to compliance requirements, including know-your-customer (KYC) provisions and compliance safeguards designed to ward off money laundering. (Blockworks)

A stablecoin will likely serve as a “first use case of what is likely to be a wholesale settlement coin” in the “long runtime” leading up to the potential introduction of a central bank digital currency (CBDC), Member of Parliament and HM Treasury Economic Secretary Andrew Griffith said.