Support for Euro Coin (EUROC), a euro-backed stablecoin, will go live on Coinbase in regions where trading is supported, the exchange said on Twitter. Trading is slated to begin on or after 9 a....
Tag: Stablecoins
Paxos in ‘constructive discussions with the SEC,’ ends relationship with Binance
Stablecoin issuer Paxos told employees it’s in “constructive discussions” with the U.S. Securities and Exchange Commission (SEC) after getting a Wells notice about the Binance USD st...
The fate of dollar-pegged stablecoins in question: Law Decoded, Feb. 13–20
New week, a new element of the crypto ecosystem is under attack. This time, the United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD (BUSD) — a dollar...
Many Stablecoins May Not Meet the Standards of Crypto Asset Regulations: FBS
The Financial Stability Board (FSB) has revealed that many stablecoins will not meet the standards stipulated in its recommendations for crypto asset regulations that will be released later this year....
Many stablecoins fall short of coming regulatory recommendations, says FSB chair
Financial Stability Board (FSB) chair Klaas Knot has outlined how the organization plans to address key threats to financial stability this year in a Feb. 20 letter sent to the G20’s finance ministers...
Existing Stablecoins won’t meet forthcoming global standards: FSB Chair
Many existing stablecoins would fail to meet the high-level recommendations set by global standard setters such as the FSB. The FSB, the financial regulator funded by the BIS, plans to finalize its re...
Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days – Altcoins Bitcoin News
Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the m...
A deep dive into the implications of the lawsuit and its effects on stablecoins
Paxos faces SEC lawsuit over BUSD On Feb. 13, the U.S. Securities and Exchange Commission (SEC) enforcement division issued a Wells notice to Paxos, ordering the company to stop minting the Binance US...
Centrifuge Wants To Back Aave’s GHO Stablecoin With Real-world Assets
Centrifuge — an on-chain ecosystem for structured credit — is looking to become the real-world asset facilitator for Aave’s new stablecoin, GHO. In a governance discussion, Asad Khan, DeFi politician ...
Terra lawsuit a ‘roadmap’ to attack other stablecoins: Delphi Labs
The United States Securities and Exchange Commission’s (SEC’s) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according t...
Platypus salvages $2.4 million in hacked funds with BlockSec’s help
Published 50 minutes earlier on Published 2 hours and 50 minutes earlier on After the Platypus protocol was hacked yesterday, at least 2.4 million USDC was returned to the exploited platform with help...
U.S. investigation into Do Kwon and his infamous stablecoin unveils several new revelations
The collapse of supposed stablecoin TerraUSD last May wiped out more than $40 billion of market value held by investors who bought into the story that creator Do Hyeong Kwon and his firm Terraform Lab...
Curve Stablecoin in the Works as Proposal Goes to Governance Vote
It is no secret that Curve is planning to launch its own stablecoin. And now, the community governance for Curve Protocol will be voting on whether or not it will enable stablecoin pools t...
Binance Bolsters Stablecoin’s Role In Market With $50 Million TrueUSD Minting
Binance, one of the world’s largest cryptocurrency exchanges, has announced that it has minted $50 million worth of TrueUSD, a stablecoin pegged to the US dollar. This decision comes after the New Yor...
BIS-funded regulator to probe DeFi entry points like stablecoins
The Financial Stability Board (FSB), the financial regulator funded by the Bank for International Settlements (BIS), is pushing international regulations for decentralized finance (DeFi). On Feb. 16, ...
Did anti-crypto attack on stablecoins cause bitcoin rampage?
US government watchdog, the SEC, has served an enforcement against Paxos, deeming its issuance of the BUSD stablecoin a non-registered security. Did this help cause bitcoin’s huge spike in price? The ...
Flash loan exploit appears to be behind Platypus USD stablecoin attack
Platypus USD (USP) lost its dollar parity on Thursday following an apparent exploit that allowed a wallet to siphon off about $8.5 million from the token’s liquidity pools, just weeks after Plat...
TrueFi token clocks triple digit gain as Binance mints TUSD stablecoin
DeFi lender TrueFi’s token, TRU, jumped over 140% shortly after Binance minted $50 million worth of the TrueUSD stablecoin. Binance minted 49.99 million TRU at around 10 a.m. EST today, ...
Tether USDT Stablecoin Gains $1 Billion as Paxos Burns Over $1.8B of Binance USD Stablecoins
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Coinbase Weighs In on SEC Banning Binance USD (BUSD), Says Stablecoins Are Not Securities
Top US crypto exchange Coinbase is weighing in on the regulatory uncertainty swirling around stablecoins this week. The issue is getting attention because New York-based crypto company Paxos said on M...
Non-Dollar Stablecoins Have Growth Potential According To CZ
Binance CEO Changpeng Zhao said that the regulatory pressures would lead to a broader adoption of stablecoins not pegged to the US dollar. Instead of US dollar-based stablecoins, the crypto industry w...
Stablecoins as securities could spell ‘Armageddon’ for crypto, says Robert Leshner
Markets • February 16, 2023, 5:00AM EST Episode 11 of Season 5 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Compound Labs Founder Robert Leshner. Listen below, an...
Binance Stablecoin Outflows Top $1B as BUSD Supply Shrinks
Binance USD (BUSD) has given up millions in supply as the Securities and Exchange Commission (SEC) flagged plans to sue the stablecoin’s issuer Paxos as part of its crypto regulation tightening. Paxos...
BUSD Is Under Attack. Are USDC and USDT Next?
Though regulatory actions against stablecoin issuer Paxos come amid a crackdown of the space after a wild 2022, some say the impact on competitors may be limited. Other industry participants are...
USDC and BUSD market caps fall as regulators bash stablecoins
Stablecoins such as USD Coin (USDC) and Binance USD (BUSD) see their market capitalization fall following increasing regulatory scrutiny. Market data shows that BUSD’s market cap has fallen by 4.56% f...
Paxos to Cease Minting New BUSD and End Relationship with Binance
The New York Department of Financial Services (NYDFS) has directed Paxos to cease issuance of new BUSD tokens, effective Feb. 21. “BUSD will remain fully supported by Paxos and redeemable to onboarded...
Binance’s CEO Says Crypto May Move Away From Stablecoins
While the cryptocurrency industry has been on regulators’ radar over the past years, including major exchanges like Binance, the most targeted aspect is stablecoins. Following the recent saga between ...
SEC Going After Stablecoins? Hits Paxos With Charges
The crypto community has been flooded with FUD ahead of the CPI release. The Securities and Exchange Commission (SEC) announced on Monday that it has filed a lawsuit against Paxos Trust, the issuer of...
Stablecoins not the target in BUSD crackdown: Matrixport head of research
Crypto financial services Matrixport’s head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves. In a Feb. 14 ana...
Crypto markets rebound as Silvergate soars 16% on Citadel Securities, Susquehanna stakes
Cryptocurrency prices rebounded after yesterday’s decline, when the New York Department of Financial Services announced it will pursue regulatory action against stablecoin provider Paxos. ...
684 million BUSD burned for redemptions amid US regulatory scrutiny
Just over a day after it categorically denied regulator claims Binance USD (BUSD) is a security, Paxos has burned some 684 million of the stablecoin for U.S. dollar redemptions, on-chain data show. &#...