New York regulators have approved two stablecoins by Paxos Trust Company and Gemini Trust Company that will be tied to the U.S. dollar and available on their respective exchanges starting Monday. Stablecoins are cryptocurrencies designed to be worth a fixed amount—often $1—but tradeable instantaneously across borders, like other tokens. Coinbase was one of the first crypto companies to show that...
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Clubhouse Gets Investment Interest at $1 Billion Valuation

The race to invest in social audio app Clubhouse is on again. Venture capital firms have approached the startup’s founders in recent weeks about leading its potential next round of funding at a roughly $1 billion valuation, according to four people with knowledge of the discussions. Investors also have tried to buy Clubhouse shares from existing shareholders at an implied valuation of $1...
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