Tether (USDT) is once again coalescing as crypto’s pegged token of choice, with its stablecoin market share nearing 50% for the first time since December 2021. The top stablecoin issuer has deployed a...
Tag: Stablecoins
CZ Outlines Need for Stablecoins Pegged to Other Fiat Currencies Amid BUSD Crackdown
The founder and chief executive of Binance spoke in a Twitter AMA (Ask Me Anything) about different hot topics in the cryptocurrency community as of now, with one of them being expectedly the BUSD cla...
Binance Stablecoin Is a Security, SEC Tells Paxos: WSJ
Paxos, the issuer of Binance-branded stablecoin BUSD, could reportedly be sued by the US Securities and Exchange Commission (SEC) for violating investor protection laws. The Wall Street Journal report...
Paxos to stop minting BUSD stablecoins for Binance
Blockchain infrastructure platform Paxos Trust Company will halt the issuance of new Binance USD (BUSD) stablecoins amid the ongoing probe by New York regulators. Paxos officially announced on Feb. 13...
Binance to support BUSD while exploring non-USD stablecoins, CZ says
Cryptocurrency exchange Binance plans to continue supporting its Binance USD (BUSD) stablecoin despite its issuer, Paxos Trust Company, facing a stop order from American regulators. As reported by Coi...
SEC action against Paxos paints regulatory target on stablecoins
Stablecoins look to be the next part of the crypto ecosystem facing a regulatory crackdown. The U.S. Securities and Exchange Commission has issued notice to crypto infrastructure provider Paxos...
Paxos ‘categorically disagrees’ with SEC in calling BUSD a security
Paxos said it “categorically disagrees” with the U.S. Securities and Exchange Commission in calling Binance USD (BUSD) a security. The stablecoin issuer said it got an SEC Wells noti...
Are stablecoins securities? Well, it’s not so simple, say lawyers
Recently reported planned enforcement action against the Paxos Trust Company by the United States Securities and Exchange Commission (SEC) over Binance USD (BUSD) has many in the community questioning...
Paxos will no longer issue Binance USD stablecoin
The New York Department of Financial Services (NYDFS) ordered crypto infrastructure firm Paxos to stop issuing the stablecoin Binance USD (BUSD), a Binance spokesperson told The Block. “Pa...
Why Are Cardano Stablecoins Game Changers for the Altcoin? Here’s What Emurgo Team Believes
The stablecoin Djed made its debut on the cryptocurrency market in 2023, much to the delight of Cardano (ADA) holders. The stablecoin asset is seen as the key to enhancing Cardano’s competitiven...
Stablecoins Are Not Worth the Risk
In theory, stablecoins could be used widely for ordinary payments. But no stablecoins show signs of functioning at scale. High fees, slow processing speeds and other barriers make them expensive and i...
JPMorgan sees advantages in deposit tokens over stablecoins for commercial bank blockchains
JPMorgan Chase and consultants Oliver Wyman took a look at blockchain technology in commercial banking in a report released Feb. 9. Stablecoins and central bank digital currencies (CBDCs) have dominat...
Stablecoins Are Big Business: Tether Profits $700M in 3 Months
As major crypto companies bleed cash through the bear market, stablecoins such as tether (USDT) have apparently emerged as incredibly profitable. Tether, issuer of the largest stablecoin by circulatin...
Binance says it’s adjusting Tron network withdrawal fees to previous levels
Binance, the leading crypto exchange by trading volume, said Saturday that it had reverted withdrawal levels on the Tron network to previous levels after feedback from the community. “Bina...
XRP Price Fails To Keep Pace as Majors Bounce
Cryptocurrencies are enjoying a major rebound this year, but one blue-chip digital asset is being left behind: XRP. XRP is by far the worst performing top 10 cryptocurrency year-to-date, not counting ...
JP Morgan reckons that deposit tokens could trade on DeFi like stablecoins
JP Morgan has reckoned that the tokenization of fiat deposits could be more acceptable than the use of ‘traditional’ stablecoins. The bank says that such tokenized assets could be used across major bl...
Paxos facing probe by New York regulator: CoinDesk
Stablecoin issuer Paxos is being investigated by the New York Department of Financial Services, according to a CoinDesk report. The news comes after rumors that Paxos was asked to withdraw an ap...
Tether reports $700 million Q4 net profit in latest attestation report
Stablecoin issuer Tether released its latest attestation report on Thursday, reporting a profit of $700 million in the fourth quarter of 2022, which it reinvested into its reserves. “Tethe...
Digital pound could co-exist with private stablecoins — UK central bank
The United Kingdom is a step closer to launching a central bank digital currency (CBDC) after releasing a consultation paper explaining the proposed digital pound, which the public has nicknamed “Brit...
Stablecoins and Bitcoin Are Not Good Alternate of Fiat: Ray Dalio
The popular American Billionaire investor and hedge fund manager, Ray Dalio did not think that stablecoins and Bitcoin would be a good alternative to Fiat currencies. He instead wants to see an “...
Djed Stablecoin’s Depegging Restarts Reserve Debate
Earlier this week, Cardano’s recently-launched stablecoin Djed lost its peg to the U.S. dollar, drawing attention to the importance of regulatory frameworks governing stablecoin reserves. On Feb. 2, ...
Fiat is in ‘jeopardy’ but Bitcoin, stablecoins aren’t the answer either: Ray Dalio
Billionaire investor Ray Dalio has described fiat currency as being in serious “jeopardy” as an effective store of wealth but doesn’t believe Bitcoin (BTC) and stablecoins will be the solution either....
Crypto market continues to rise, while Silvergate shares seesaw after probe report
Bitcoin settled around $23,570 at 5:20 p.m. EST after climbing as high as $24,100 earlier in the day, according to TradingView data. It’s up about 0.4% over the past day following the Federal Re...
Stablecoins Lost $3 Billion Within 44 Days
Since December 15, 2022, the top stablecoins have lost their market capitalization by nearly $3 billion. On December 15th, the stablecoin economy was valued at $141.07 billion. After losing more than ...
Stablecoins Are No Longer Attractive as the Gap between 3pool’s Apy and Treasury Yields Broadens
The dissimilarity of the returns by the accumulation of stablecoins on decentralized exchange Curve’s 3pool and yield for the government of the United States relationships carries on to broaden, point...
DeFi protocol Archimedes raises $4.9 million in seed funding
Archimedes, a decentralized lending and borrowing protocol focused on leverage, raised $4.9 million in a seed funding round. Hack VC led the round, with Uncorrelated Ventures, Truffle Ventures, ...
Djed goes live on Mainnet, beginning a new era of stablecoins
COTI Network has published an official blog post to announce that Djed is now live on Mainnet. The change happened after the USD-pegged stablecoin went through a thorough security audit and more than ...
Fantom to introduce version 2 of fUSD Stablecoins
fUSD will permit for an on-chain fee system and help open Fantom to more institutional adoption. The shift to fUSD v2 will permit a forecastable, cost-effective on-chain fee system. Liquidations...
Stablecoins face uncertain future in Hong Kong as new regulation reveals…
The Hong Kong Monetary Authority has concluded its discussion paper on crypto-assets and stablecoins. The regulator has clarified that Hong Kong will not permit algorithmic stablecoins. The Hong Kong...
Hong Kong will not tolerate algorithmic stablecoins in new regulation
In the key principles of its upcoming regulatory framework, the Hong Kong Monetary Authority (HKMA) didn’t find a place for algorithmic stablecoins. Instead, the chief financial regulator will demand ...
Stablecoins comprised 77% of Optimism TVL in January
Data from the decentralized finance (DeFi) total value locked (TVL) aggregator DefiLlama shows that the Optimism chain recorded positive inflows in 27 out of the last 30 days. According to DefiLlama, ...