TerraUSD (UST) is an algorithmic stablecoin that is pegged at $1.00. But, on the evening of May 19, it was trading for $0.083. This isn’t supposed to happen, of course, but last week UST, along with i...
Tag: Stablecoins
This Stablecoin’s Market Cap Skyrockets Amid FUD In Tether, UST
The crypto market crash last week has vastly shaken the crypto industry, with volatility witnessed in stablecoins too. The de-peg of TerraUSD (UST) and a brief decline in Tether (USDT) saw redemptions...
This Is How TerraUSDT Crash Will Impact Stablecoins In The Near Future – Coinpedia – Fintech & Cryptocurreny News Media
One of the senior analysts at Bloomberg, Mike McGlone while talking about algorithmic stablecoin, says that these are dependent on market growth and looks like these do not have any future. In a recen...
Biden’s pick for Fed vice chair for supervision calls for congressional action on stablecoins
Michael Barr, a law professor and former advisory board member of Ripple Labs who is United States President Joe Biden’s pick for vice chair for supervision at the Federal Reserve, called for U.S. law...
Tether’s Attestation Report Reveals Positive Outlook on Stablecoin’s Reserves
Tether’s recently issued attestation report indicates an optimistic view of the stablecoin’s reserves, which may come as a relief to crypto investors. Tether fund reserves are strong, according to the...
Stablecoins: UST, Systemic Risk & Ergo’s SigmaUSD
If you have been paying any attention to the world of cryptocurrency, odds are that you have heard about UST losing its peg and the Luna token crashing to less than $0.001. The effects of this event w...
FTX US to launch stock trading against stablecoins
Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator o...
FTX Enters TradFi, Launches Stock-trading Service For Fiat-backed Stablecoins
FTX, a crypto exchange led and co-founded by American billionaire Sam Bankman-Fried, has announced that its U.S. arm will be launching stock-trading services facilitated by fiat-backed stablecoins. Ac...
Here’s How the Collapse of TerraUSD Will Impact Stablecoins, According to Bloomberg Strategist Mike McGlone
Senior Bloomberg analyst Mike McGlone says algorithmic stablecoins relying on market growth may be done for the foreseeable future. In a new interview with Cointelegraph, the commodities strategist sa...
FTX US Launches Stock Trading, Accounts Can Be Funded With Stablecoins
In brief FTX Stocks will let users fund their accounts with USDC. Customers will be able to buy stocks and ETFs within the crypto app. The offering is being rolled out to select customers from a waitl...
Despite Recent Bumps in the Road, Stablecoins Will Stick Around
“Think about all the economic rents that are derived by firms engaged in that sort of activity, and it was a very important activity, creating trust bridges,” said Epstein. “Now smart contracts do tha...
‘Correction Of Over 90%’—Leading Crypto Analyst Issues Stark Crypto Price Prediction As Bitcoin, Ethereum, BNB, XRP, Terra’s Luna, Solana, Cardano, Dogecoin Go Into Free Fall
A week into the stablecoin implosion, the crypto market holds its bearish course. This week, the bitcoin price dropped 6%, and other major coins followed suit. Ethereum’s price is down 11%, BNB 5%, do...
Circle CEO says stablecoins should be boring
Given the highly public and rapid demise of the UST stablecoin these particular assets have become very much a cause for concern for both investors and regulators alike. Jeremy Allaire, CEO of Circle,...
What now for stablecoins following the Terra UST disaster?
It’s been over a week since Terra UST de-pegged, triggering a massive market drawdown. UST’s market cap plummeted from $18.7 billion to $1.15 billion at writing. Similarly, the Terra LUNA ...
Crypto Crash Marked by the Reclamation of $7.6B of Tether (USDT) Stablecoins – crypto.news
More and more digital investors are skeptical about the crypto crash, prompting them to cash out all their crypto assets. Since the crypto crisis began, investors have reclaimed funds totaling $7.6 bi...
US CRS Reports Improper Regulations on Stablecoins, Amidst UST Crash
The US CRS puts out a report on the UST crash. Shows regulatory unfulfillment with stablecoins. New fork to be out by Terra LUNA. The downfall of Terra’s UST and LUNA ought to be the hottest topic fo...
Following Terra’s Meltdown Celsius Network CEO Says Not All Stablecoins Are Stablecoins
Alex Mashinsky, the CEO of Celsius Network, believes that crypto market participants should know that not all stablecoins are designed in the same way. Stablecoins are crypto-assets built in a way th...
Fantom’s Scream DeFi Protocol Incurs $35M Bad Debt as Two More Stablecoins Lose USD Peg – crypto.news
The Scream decentralized finance (DeFi) protocol has run into a $35 million dollar bad debt following its failure to adjust the price of the Fantom USD (fUSD) and Dei (DEI) stablecoins on its platform...
UK Treasury reaffirms commitment to regulate stablecoins following TerraLUNA fiasco
UK’s exchequer has just affirmed its vow to regulate stablecoins to create a healthy environment for stablecoin issuers and service providers, given the recent TerraUSD (UST) and Terra (LUNA) market c...
Tether (USDT) redemptions fuel fears about stablecoin’s backing
Tether has faced repeated calls for a full audit of its reserves. Justin Tallis | AFP via Getty Images Investors have withdrawn more than $7 billion from tether since it briefly dropped from its dolla...
EU regulators criticize stablecoins to promote Euro CBDC
EU regulators are using the recent Terra Luna situation to push forward with a Digital Euro CBDC. Many will see the volatility created by the attack on the algorithmically backed stablecoin, UST, as a...
Spool offers premium returns on Stablecoins thanks to Smart Yield Generation
Get the highest APY on stablecoins on the Ethereum network, with minimal gas fees and risk, using the nifty middle man called Spool. In just a few clicks, you can put your discretionary income to work...
DeFi lender left with $35 million bad debt after quoting depegged stablecoins at $1
Scream, a DeFi lending protocol on Fantom, has incurred $35 million in bad debt after failing to adjust the price of two stablecoins that lost their US dollar peg. The two stablecoins in question are ...
UK: the Crown wants to regulate stablecoins
Following the collapse of the Terra-LUNA project and the ecosystem’s stablecoin, UST, the Treasury Department in the UK has stated that it wants to regulate the sector more. In particular, one of the ...
Jewel chooses ERC-3643 and Tokeny platform to issue stablecoins on Polygon » CryptoNinjas
Jewel, a Bermuda-based digital asset banking platform, announced today a partnership with Tokeny, a blockchain-asset compliance infrastructure provider. Through the partnership, Jewel will power real-...
After Terra’s UST, This Stablecoin Loses it’s Peg.What’s The Future Of Stablecoins? – Coinpedia – Fintech & Cryptocurreny News Media
The crypto economy was under complete volatility for the past few weeks, but the space faced had the worst one after one of the largest stablecoins, TerraUSD (UST) de-pegged from its $1 value. After U...
Global Watchdogs to Regulate Stablecoins Following TerraUSD (UST) Fiasco
The catastrophic failure of Terra’s algorithmic stablecoin, TerraUSD (UST), last week exacerbated the chaos in the crypto industry and accelerated plans to regulate the stablecoins market. Following t...
Celsius CEO Issues Warning, Says Not All Stablecoins Are Created Equal – Here’s Why
Celsius Network CEO Alex Mashinsky says that crypto market participants should be aware that not all stablecoins are built the same. Stablecoins are crypto assets designed to have a relatively stable ...
DeFi lender incurs $35 million loss after pricing depegged stablecoins at $1
Scream, a Fantom-based Defi lending protocol, has sustained $35 million in bad debt after neglecting to change the prices of two stablecoins that dropped their US dollar peg – Fantom USD (fUSD) ...
The UK Stands Beside Its Commitment to Regulate Stablecoins Following Terra Fall
The U.K. Treasury Department, HM Treasury is moving ahead with its plans to regulate payment stablecoins even after a crypto market breakdown last week. The collapse of Terra which witnessed algorith...
Michael Saylor Says The Market Crash Will Speed Up Regulation Around Stablecoins ⋆ ZyCrypto
Advertisement     It has been a rollercoaster month for the crypto markets that saw the shocking crash of Terra’s native coin and stablecoin offerings wiping billions ...
United Kingdom set to legalize stablecoins 1
The United Kingdom is now seriously considering the regulation of stablecoins for use in the country. According to a Department of Treasury report, there are high chances that the digital assets would...