The stablecoin ecosystem felt an immediate effect as USD Coin (USDC) depegged from the US dollar due to a subsequent sell-off after Silicon Valley Bank (SVB) did not process $.3.3 billion of Circle’s ...
Tag: Stablecoins
USDC and DAI remain at about $0.90 following Circle’s disclosure of funds at SVB
The fallout from the collapse of Silicon Valley Bank spread overnight to the USDC stablecoin, which lost its peg to the U.S. dollar and dropped as low as $0.88. Following Circle’s disclosu...
Avoid Market Volatility With Big Eyes, Stablecoins Tether And Origin Dollar
Here is why stablecoins like Tether and Origin Dollar are ideal for those who wish to avoid the instability of altcoins. Although it isn’t a stablecoin, Big Eyes is doing all it can to keep investors ...
Stablecoins No More Stable: After USDC Depeg, Is Tether’s USDT in Trouble?
The collapse of Silicon Valley Bank (SVB) has caused worry in the crypto industry, especially for investors who use stablecoins like USDC and USDT. Let’s see how this affects these stablecoins. USDC a...
Bitcoin, Ethereum Price Rising Despite Bank Woes, Stablecoins Depeg
The crypto market is witnessing a massive crisis as crypto-friendly banks Silvergate, Silicon Valley Bank, and now Signature Bank faces bank runs. The “bank run” driven by depositors withdrawing money...
Stablecoins In Trouble? USDC, DAI, USDD Depeg As SVB Crisis Deepens
Crypto News: Dealing with a heavy sell off, the global digital asset market registered a broad recovery on Saturday morning. Bitcoin, Ethereum price jumped by 3% and 5%, respectively. However, the top...
US Federal Reserve to Create Cryptocurrency Team Amid Concerns Over Unregulated Stablecoins
The US Federal Reserve is taking steps to address the fast-evolving cryptocurrency industry. The central bank has announced that it is creating a specialized team of experts to monitor developments in...
Huobi Token (HT) Flash Crash, Sun Withdraws $80M StableCoins
Founder of DAO blockchain ecosystem withdrew stablecoins worth $80M from Huobi exchange. Market fluctuations were caused by a few users who triggered forced liquidation. HT breaks out from a descendi...
U.S. Fed to create new crypto team amid Stablecoins’ concerns
The U.S. Federal Reserve is planning to form a specialized team of experts to keep up with developments in the cryptocurrency industry. Barr stated that regulation must be a deliberative process in or...
US Fed to create new crypto team amid concerns about unregulated stablecoins
The United States Federal Reserve is set to create a “specialized team of experts” to keep up with developments in the cryptocurrency industry, according to a Fed official, amid concerns from the Fed...
Circle CEO Says SEC Isn’t The Right Regulator for Stablecoins
Circle CEO Jeremy Allaire recently said that the SEC shouldn’t regulate stablecoins. Allaire believes that stablecoins should fall under the purview of banking regulators. Stablecoin issuers have beco...
BitMEX co-founder Arthur Hayes suggests new approach to stablecoins
A stablecoin called NakaDollar, which is independent of fiat currencies and the banking system, was presented by the former CEO of BitMEX to address increasing stablecoin concerns. Arthur Hayes has id...
CFTC chair says ether and stablecoins are commodities
Rostin Behnam, the US Commodities Futures Trading Commission (CFTC) chairman, has reaffirmed his stance on ether (ETH) and stablecoins, making it clear that they qualify as securities. During a March ...
Ether and Stablecoins Could be Commodities: CFTC Chair
The head of the CFTC has reaffirmed opinions on the securities status of major cryptocurrencies, including ether, that outright clash with SEC chief Gary Gensler’s interpretation of securities law. At...
CFTC: ETH and stablecoins are commodities
The debate continues over the nature of cryptocurrencies and stablecoins, that is, whether they should be considered securities or commodities. This time to speak out is Rostin Behnam, the Chairman of...
CFTC Re-Asserts That Stablecoins Remain Under Its Jurisdiction
The Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has once again reaffirmed the agency’s position that stablecoins should be classified as commodities and placed under it...
CFTC Labels Ether and Stablecoins as Commodities: Will the SEC Agree?
The US Commodity Futures Trading Commission (CFTC) has designated Ether and stablecoins as commodities, a move that could have far-reaching implications for the crypto industry. The decision comes aft...
CFTC Seeks Jurisdictional Right Over Ethereum and Stablecoins
In an interesting development, the U.S. Commodities and Futures Trading Commission (CFTC) exerted jurisdictional power over Ethereum and stablecoins while calling them commodities. With this, the CFTC...
Stablecoins and Ether are ‘going to be commodities,’ reaffirms CFTC chair
Stablecoins and Ether (ETH) are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent Senate heari...
CFTC chair Rostin Benham deems Ethereum, stablecoins to be commodities
Ad CFTC chair Rostin Benham said that various digital assets, including Ethereum and stablecoins, are commodities during a senate hearing on March 8. Rostin Benham on ETH, stablecoins During a hearing...
CFTC head says stablecoins are in agency’s jurisdiction without ‘clear direction from Congress’
The head of the Commodity Futures Trading Commission views most stablecoins as commodities, barring new law that could change their classification. “Not withstanding that, they are a commo...
Maverick Protocol DEX launches with Lido integration to compete with Uniswap
A new contender is challenging Uniswap for decentralized exchange supremacy. Or so Maverick CTO Bob Baxley believes. Maverick Protocol, along with Lido, Liquity and Galxe, today deployed a dece...
Signature Bank, Stablecoins Might Benefit From Silvergate Bank Crypto Exchange Network’s Demise
Now, the network has been shut down – closed last week as the bank’s parent company, Silvergate Capital Corp., acknowledged there were questions about its ability to continue as a “going concern,” and...
Markets trade down after Fed chair’s comments, Grayscale recovers amid hearing
Crypto markets whipsawed throughout the day after U.S. Federal Reserve Chair Jerome Powell’s delivered testimony to Congress. Bitcoin was trading around $22,070 by 4:55 p.m. EST, down abou...
Machine money gains traction among EU regulators; stablecoins under consideration
Ad As the crypto asset market has expanded dramatically in recent years, stablecoins have also experienced remarkable growth. In response to this, the Digital Euro Association (DEA) issued a report an...
Stablecoins Could Benefit From Silvergate’s Struggles: Report
A new study by digital asset data provider Kaiko has found that Silvergate’s decision to shut down its instant payments network will likely boost stablecoin adoption among investors in crypto trading....
DEA argues for Europe to use stablecoins for M2M Payments
The Digital Euro Association’s (DEA) report argued that Europe can use stablecoins for machine-to-machine (M2M) payments Euro-pegged stablecoins not as popular as USD-pegged stablecoins yet The Digita...
Silvergate Insolvency Concerns Raise Hopium for Stablecoins
Stablecoin volume is rising as the latest crypto bank fallout – Silvergate – continues to worsen. Silvergate, the crypto-friendly bank, is facing a customer exodus and a steep decline in share price a...
Crypto prices flat, Silvergate declines ahead of Powell testimony
Crypto markets traded relatively flat as the market prepares for Federal Reserve Chair Jerome Powell’s Congressional testimony on Tuesday and the release of U.S. jobs data on Friday. Bitco...
Stablecoins have plentiful machine-payment use cases in absence of euro CBDC: Report
Europe could lead the world in developing the Internet of Things (IoT) by harnessing the potential of stablecoins, the Digital Euro Association argues in a new report. Machine-to-machine (M2M) payment...
CFTC Chair’s ‘Ether, stablecoins are commodities’ comments stir more trouble
Ether and stablecoins are commodities, according to Rostin Benham Opposing viewpoints of different market regulators in the U.S fueling discord and lack of clarity As the tug of war between U.S regula...