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Avalon Labs has secured $10 million in a Series A funding round to expand its Bitcoin-backed stablecoin, aiming to enhance liquidity and stability in the cryptocurrency market. The investment reflects growing interest in Bitcoin-collateralized financial products as a bridge between traditional finance and digital assets.

The crypto industry is urging Donald Trump’s team to begin his promised crypto policy changes when he becomes president next month. Industry officials say they want him to use executive orders to make cryptocurrencies more mainstream.

Trump and his sons helped launch World Liberty Financial, a decentralized crypto platform co-founded by Steve Witkoff, a real estate developer and inauguration committee co-chair who Trump has named special Middle East envoy.