Thanks to @wallet bot, Telegram users can transfer USDT within chats

Telegram users can now send tether (USDT), the world's largest stablecoin by market cap, within chats in the messaging app, thanks to its addition to the @wallet bot.

The stablecoin addition is a positive development for mainstream adoption, and the messaging app's cryptocurrency journey dates back to its Open Network (TON) blockchain project, which was abandoned in 2020 due to legal battles with the U.S. Securities and Exchange Commission, but has since been kept alive by The TON Foundation, a community group continuing to advance the project.

Florida governor seeks to block CBDCs

Florida Governor Ron DeSantis has introduced legislation that would shield Florida residents from a national central bank digital currency (CBDC) and urged other like-minded governors to adopt similar measures. If passed, the law would also protect Floridians from a global digital currency issued by a foreign central bank.

However, unlike DeSantis, politicians in around 20 other states, including New Hampshire, North Dakota, Texas, and California, are supporting pro-CBDC laws. The U.S. Federal Reserve's forthcoming FedNow payments system has been widely believed to be a precursor to a programmable CBDC, though Fed officials have not yet agreed on a national CBDC.

Read next: Paolo Ardoino from Tether says the company has $1.6 billion in excess reserves to support USDT | FXMAG.COM

Goldman Sachs Data Shows Bitcoin Outperformance

According to Goldman Sachs data, Bitcoin has outperformed traditional investment assets such as technology and gold, gaining 51% in year-to-date absolute returns and demonstrating strong risk-adjusted performance with a Sharpe Ratio score of 1.9.

The recent surge in Bitcoin's price has been attributed to the growing likelihood of the US Federal Reserve eventually ditching its hawkish monetary policy, and the cryptocurrency has rebounded stronger than stocks from Wall Street amid the ongoing banking crisis, indicating a narrative shift in the perception of the largest cryptocurrency. However, the value of Bitcoin is still largely affected by changes in inflation rates and decisions made by the Federal Reserve regarding interest rates.

Read the second part of Weekly Summary by coinpaprika: Terraform Labs CEO charged, Balaji Srinivasan bets on Bitcoin | FXMAG.COM