Tag: stablecoins
All news related to cryptocurrencies pegged to other assets, such as the US dollar.
Tether to Stop Minting USDT on Algorand and EOS Blockchains
Reading Time: < 1 minute Tether has announced its decision to stop producing the USDT token on the Algorand and EOS blockchains.
Tether Rolls Out a Gold-backed Stablecoin
Reading Time: < 1 minute Tether has announced the introduction of a new stablecoin called Alloy, which will be backed by gold and pegged to the US dollar.
Former House Speaker: US Should Use Stablecoins to Fight China
Reading Time: < 1 minute The impact of crypto policy on the 2024 Presidential race is becoming increasingly apparent.
Paxos Plans to Cut 20% of its Staff
Reading Time: < 1 minute Stablecoin issuer Paxos has recently made the decision to lay off approximately 20% of its workforce, despite being in a strong financial position.
Ethena USDe Stablecoin Supply Surpasses $3B
Reading Time: < 1 minute The stablecoin known as Ethena Labs USDe, also referred to as a “synthetic dollar”, has achieved a supply of $3 billion tokens in just four months since its public launch in February.
PayPal’s Stablecoin Expands to Solana
Reading Time: < 1 minute PayPal’s PYUSD stablecoin, recently launched on Solana, introduces a new feature called “confidential transfers” that gives merchants the option to conceal transaction amounts for consumers while still adhering to regulations.
Native Stablecoins Swell on Sui as Agora Adds AUSD Stablecoin to Network
Reading Time: 2 minutes Austin, Texas, 29th May 2024, Chainwire
China Dismantles Underground Bank Using USDT for Foreign Currency Exchanges
Reading Time: < 1 minute Police in Sichuan province, Southeast China, have broken up an underground bank that utilized the USDT stablecoin for foreign currency exchanges, involving transactions totaling at least 13.8 billion yuan ($1.9 billion).
Real Users Account for Less Than 10% of Stablecoin Transaction Volume
Reading Time: < 1 minute According to a new report by Visa and data platform Allium Labs, only a small portion, less than 10%, of stablecoin transactions are from legitimate or real people.
Tether’s Q1 Net Profit Hits $4.5B
Reading Time: < 1 minute In January-March, Tether, the issuer of the stablecoin USDT, reported a record net profit of $4.52 billion.
USDT Volume on Crypto Exchanges Hits Highest Level in a Year
Reading Time: < 1 minute The volume of USDT on exchanges in the second half of April reached $568 million, which is the highest level for the year.
Binance’s SAFU Accounts for 3% of UDSC’s Supply
Reading Time: < 1 minute Binance has recently announced that it is converting its Secure Asset Fund for Users (SAFU) into Circle’s stablecoin USD Coin.
PayPal Allows Use of PYUSD for International Payments
Reading Time: < 1 minute PayPal announced on April 4 that it has launched its cross-border payments and transfers service, Xoom.
Ethena Labs Backs USDe with Bitcoin
Reading Time: < 1 minute Ethena Labs has announced that it has added Bitcoin as a backing asset for its USDe synthetic dollar. This decision was fueled by a surge in popularity of the world’s oldest digital asset among traders.
Tether Passes Independent Security Audit
Reading Time: < 1 minute Tether, the creator of the USDT stablecoin, has announced the successful completion of its System and Organization Controls 2 (SOC 2) Type I audit.
Conflux Network introduces AxHKD, Hong Kong Dollar-Backed Stablecoin
Reading Time: 3 minutes Toronto, Canada, March 8th, 2024, Chainwire Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong […]
FDUSD Loses Peg to US Dollar
Reading Time: < 1 minute The value of First Digital USD (FDUSD), a stablecoin backed by Binance, dropped on March 5 sharply to $0.92.
UK to Pass New Stablecoin Legislation in 6 Months
Reading Time: < 1 minute According to Bloomberg, UK government officials are determined to pass new regulations for stablecoins and crypto staking services within the next six months.
New Zealand Central Bank: Stablecoins Are Not Stable
Reading Time: < 1 minute The governor of the central bank of New Zealand, Adrian Orr, strongly criticized stablecoins, stating that they cannot be considered as a replacement for fiat money as they are not truly stable.
USDC Will Become a Native Token on Celo’s Network
Reading Time: < 1 minute The Celo Foundation has announced that Circle’s USD Coin (USDC) will be launching natively on the Celo blockchain.
Tether Issues 1 Billion USDT
Reading Time: < 1 minute On December 24, Tether generated an additional 1 billion USDT stablecoins on the Ethereum network.
Market Cap of Stablecoin Market Exceeds $134B
Reading Time: < 1 minute As of November, the market supply of stablecoins totaled $126 billion. By December 7, it had increased to $133.76 billion, per CoinGecko data.
Sui Joins DeFi Leaders, Topping $100M in Bridged USDC
Reading Time: 2 minutes GRAND CAYMAN, Cayman Islands, December 7th, 2023, Chainwire Only 7 months from the network’s launch, Sui is bridging more USDC liquidity than multiple native chains Sui, the groundbreaking Layer 1 […]
Circle Denies Ties with Justin Sun
Reading Time: < 1 minute Circle, issuer of the USDC stablecoin, has rejected allegations that it engaged in illegal activities and had ties to Tron founder Justin Sun, the TRON Foundation, and HTX.
Binance Will Stop Supporting BUSD Next Month
Reading Time: < 1 minute Binance has announced that it will no longer support any Binance USD (BUSD) products after December 15, due to Paxos halting the creation of new coins.