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Citrea has launched its mainnet, enabling off-chain transaction batching and processing via a zero-knowledge Ethereum Virtual Machine. This layer 2 solution supports BTC-backed lending and structured products, aiming to enhance Bitcoin's role in financial markets.
S&P Global Ratings has downgraded Tether's USDT stablecoin to a "weak" stability rating, citing increased exposure to high-risk assets like Bitcoin and limited transparency. This move raises concerns about the stablecoin's ability to maintain its peg to the US dollar, especially if Bitcoin's value declines.