Chainlink Surges Past $10.60 on Stablecoin Regulatory Support

Chainlink's price surged past $10.60 after co-founder Sergey Nazarov addressed a White House technology event, where he discussed the impact of US regulation on stablecoins. In his speech, Nazarov pointed to recent regulatory changes as expanding stablecoin adoption.

Nazarov highlighted the GENIUS Act and the use of US government debt in stablecoin reserves as factors supporting wider distribution of dollar-backed digital assets. He stated that 'there's a very real and tangible outcome that's benefiting the adoption of U.S.-issued assets and the U.S. dollar.'

Additionally, Nethermind announced its decision to leave its LayerZero verifier role and join Chainlink as a node operator after an internal review. This move will see Nethermind help secure Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Data Feeds, while providing infrastructure and integration support.