USD Coin (USDC) holders had a long weekend, but fans of several other stablecoins saw a sudden, dramatic spike in the market capitalizations of their favorite projects. On Friday night, Circle, the c...
Tag: Stablecoins
Banks collapsing; stablecoins depegging — What is happening? Watch The Market Report live
This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding the latest bank collapse and the USD Coin (USDC) depeg. We kick things off with this week’s top ...
Wallets connected to FTX transfer over $100M stablecoins to exchanges
Three addresses connected to bankrupt crypto exchange FTX and its sister trading firm Alameda Research have moved around $145 million to crypto exchanges. In a March 14 tweet, on-chain analyst Lookonc...
TerraUSD: Why The U.S. Justice Department Is Now Probing The Stablecoin’s Collapse
The U.S. Justice Department is investigating the 2022 collapse of the TerraUSD stablecoin and is considering bringing criminal charges against the coin’s creator, Do Kwon, as reported by the Wall Stre...
Debtors saved over $100M using de-pegged stablecoins to repay loans
The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million off their...
Stablecoins and the Collapse of SVB: A Wake-Up Call
Banks are collapsing at an alarming rate, leaving investors and stakeholders questioning the stability of stablecoins. First, Silvergate failed, and now, SVB, which held $3.3B of Circle’s funds (the i...
Binance converts remaining $1 billion in Industry Recovery Initiative to native crypto amidst concerns around stablecoins
On March 13, CZ tweeted that due to the changes in stablecoins and banks, Binance will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto. The native cry...
Tether triumph over other stablecoins
Until a few months ago, many argued that among the major stablecoins pegged to the U.S. dollar Tether (i.e., USDT) was the most problematic. Instead, the last few weeks have shown the exact opposite. ...
Top Stablecoins Flirt With USD Peg After Crashing to All-Time Lows
Circle’s USDC and other stablecoins are still struggling to return to their US dollar peg after collapsing over the weekend in response to a spate of crypto bank failures. USDC was trading at under $0...
Stablecoins depegged, Tether remains the king of all stablecoins
Some stablecoins observed their value drop from their pegged value; meanwhile, USDT stood still. Over the past few weeks, markets have shown high volatility. In the first week of March, one of the ban...
XRP Ledger Was First To Support Stablecoins: Former Ripple Director
Hamilton’s statements come as dollar-pegged stablecoins have recently faced heightened uncertainty. Former Ripple Director Matt Hamilton has asserted that the XRP Ledger (XRPL) was the first blockchai...
Binance converting $1 billion in BUSD to bitcoin, ether and BNB
Binance CEO Changpeng Zhao announced on Twitter that the foremost crypto exchange would convert the approximately $1 billion remaining from its Industry Recovery Initiative funds to native crypto asse...
The Block: Circle USDC operations will resume when U.S. banks open Monday: CEO Allaire
Circle USDC reserves are “safe and secure” and liquidity operations will resume when U.S. banks open Monday, CEO Jeremy Allaire said on Twitter. “We were heartened to see the U...
Banks increase risks to stablecoins
The recent depegging of Circle’s USD Coin (USDC) caused a stir in the cryptocurrency market, with Binance CEO Changpeng “CZ” Zhao pointing fingers at traditional banks for their role...
Cardano’s Charles Hoskinson On Why Algorithmic Stablecoins Are Key to Resolving Constant Depegs ⋆ ZyCrypto
Advertisement     Cardano network’s founder Charles Hoskinson has expressed support for algorithmic stablecoins in the long run, noting that they are necessary to real...
MakerDAO surge following new proposal on stablecoins
MakerDAO is insulating itself from the vulnerability to risk associated with stablecoins according to the firm’s new proposal. It is a reaction to the recent depegging of USDC, which has rekindled wor...
XRP Ledger Was First Blockchain With Stablecoins: Ex-Ripple Director
Gamza Khanzadaev Matt Hamilton breaks down how XRP Ledger came first with stablecoin solution and when it all got abstracted away Former director of developer relations at Ripple, Matt Hamilton, state...
How and why do stablecoins depeg?
Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen. St...
CZ blames banks for the increase in stablecoins risks – Cryptopolitan
Binance CEO Changpeng CZ Zhao has waded into the SVB conversation that has been ongoing for some days. The Binance boss has faulted the role of traditional banks for the heightened risk in dealing wit...
“Banks Are a Risk to Fiat-backed Stablecoins,” Binance CEO Says
Binance CEO worries about USDT and USDC following US bank collapse. Emabattked Silicon Valley Bank has $209 billion in total assets. USDC has over $3 billion with the troubled US Silicon Valley Bank...
Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ
The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regula...
Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USD Coin (USDC) holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC’s collateral was held at S...
Stablecoins rally as Circle announces it will cover all USDC deposits 1:1
Quick Take On Saturday, March 11, Circle CEO Jeremy Allaire announced that Circle pledges to cover any shortfall in the assets backing USDC if it does not receive the entirety of a $3.3 billion cash r...
USDC will remain redeemable 1 for 1 with U.S. dollar, Circle says
USDC issuer Circle said it will resume normal operations Monday and that USDC will remain redeemable one-for-one with the U.S. dollar after Silicon Valley Bank collapsed. Circle said that in th...
Top 3 Stablecoins to Buy instead of USDC
The crypto scene was in shock as USDC de-pegged for the first time. Stablecoins were supposed to be…stable. However, it seems that market risks still affect even the mightiest players in the crypto sp...
Nine out of top 10 stablecoins trading below peg as USDC contagion spreads – Tether sole survivor
Ad Nine of the top 10 stablecoins by market cap are trading below their dollar peg as the market reels from the contagion sparked by the depeg of Circle’s USDC stablecoin on March 11, according to Cry...
The Weekend Shift: Stablecoins, Bank runs, Grifters
Welcome to the 109th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write a...
USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity – Bitcoin News
On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0...
USDC and stablecoins make US bonds market fragile
In the recent Unchained Podcast, “the block ghost of BitMEX”, Arthur Hayes said fiat-backed stablecoins like the USDC, USDT, and others pose a risk to the bonds market, and this is the primary concern...
Cardano Founder Says Algorithmic Stablecoins Are Essential for Bitcoin (BTC) to Achieve Its Vision
Tomiwabold Olajide This comes in wake of embattled Silvergate and Silicon Valley Bank (SVB) buzz Cardano founder Charles Hoskinson voices his faith in algorithmic stablecoins in the long term as being...
Binance Switches To Multiple Stablecoins, Discontinues Auto-Conversion Policy
Binance CEO Changpeng “CZ” Zhao on Saturday announced that Binance will now support multiple stablecoins and discontinued its Binance USD (BUSD) Auto-Conversion policy introduced last September. The m...