Anchorage is stepping back from Robinhood and Kraken-backed stablecoin group

Burns Brief

Anchorage Digital co-founder and CEO Nathan McCauley said there will be ‘increased neutrality’ from his firm on stablecoins Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.