Tag: stablecoins
All news related to cryptocurrencies pegged to other assets, such as the US dollar.
UK to Pass New Stablecoin Legislation in 6 Months
Reading Time: < 1 minuteAccording 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 minuteThe 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 minuteThe 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 minuteOn December 24, Tether generated an additional 1 billion USDT stablecoins on the Ethereum network.
Market Cap of Stablecoin Market Exceeds $134B
Reading Time: < 1 minuteAs 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 minutesGRAND 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 minuteCircle, 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 minuteBinance 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.
Circle to Expand USDC Presence in Japan
Reading Time: < 1 minuteCircle has formed a strategic alliance with SBI Holdings to expand its presence in Japan.
Paxos Will Issue USD-pegged Stablecoin in Singapore
Reading Time: < 1 minutePaxos has received preliminary approval from the Monetary Authority of Singapore (MAS) for a new entity, Paxos Digital Singapore Pte. Ltd., which plans to launch a stablecoin backed by the US dollar.
European Banking Authority Set to Discuss New Liquidity Requirements for Stablecoins
Reading Time: < 1 minuteThe European Banking Authority (EBA) has initiated a public consultation process regarding the capital and liquidity requirements for issuers of stablecoins and other digital tokens.
Circle is Exploring an IPO in 2024
Reading Time: < 1 minuteCircle, the issuer of USD Coin, may go public in early 2024.
USDT Represents 80% of Digital Currency Transactions in Brazil
Reading Time: < 1 minuteAccording to the Brazilian Tax Service, USDT is responsible for up to 80% of digital currency transactions in the country.
US is Losing Control Over Stablecoins: Circle CEO
Reading Time: < 1 minuteAccording to Circle’s CEO Jeremy Allaire, the US government is not taking decisive action towards legalizing stablecoins, causing companies to move to other countries.
Paolo Ardoino Becomes New Tether CEO
Reading Time: < 1 minuteThe current technical director of Tether, Paolo Ardoino, has been named as the new CEO of the stablecoin issuing company.
Circle Says Stablecoins Aren’t Securities
Reading Time: < 1 minuteAccording to Circle’s general counsel and former CFTC head Heath Tarbert, buyers of stablecoins are not looking for profit, making it clear that these assets are not considered investment contracts.
Tether Suspends USDT Tranfers to Fiat and DeFi Project from Singapore
Reading Time: < 1 minuteCake, a DeFi protocol based in Singapore, has announced that Tether will no longer be converting its stablecoin into US dollars.
Tether Spends $420M to Purchase Nvidia GPUs
Reading Time: < 1 minuteTether Limited, the issuer of the USDT stablecoin, has made a $420 million purchase of 10,000 H100 chips from Nvidia.
Jeremy Allaire Believes US Will Not Launch a Stablecoin Law in Short Term
Reading Time: < 1 minuteIn late 2022, Circle CEO Jeremy Allaire urged the US Congress to prioritize the creation of legislation for stablecoins.
Paxos Unveils Data on PYUSD Reserves
Reading Time: < 1 minuteAs of August 31, there are currently 44.4 million PYUSD in circulation, which are backed by US Treasuries.
USDT Issuer Tether Increases its Investment in US Treasuries
Reading Time: < 1 minuteTether has seen a jump in their investments in US treasury bonds in the last four months, rising up the rankings three places to become the 22nd largest holder of such debt.
Tether Will Process USD Transactions Through a Bahamas Bank
Reading Time: < 1 minuteThe company, registered in the Bahamas, Britannia Bank, is its new partner through whom dollar transactions will be done in response to heightened regulations by the US and European Union on the movement of digital currency.
Singapore Publishes Regulatory Framework for Stablecoins
Reading Time: < 1 minuteThe Monetary Authority of Singapore has recently finalized new regulations for stablecoins. The framework’s goal is to ensure stable value for regulated stablecoins in Singapore.
Former Goldman Sachs Executive Joins Circle’s Board of Directors
Reading Time: < 1 minuteThe former Chief Risk Officer of Goldman Sachs, Craig Broderick, has been announced as having joined the board of directors of Circle Internet Financial.
The Central Bank of India Says Stablecoins Threaten Financial Stability
Reading Time: < 1 minuteOn June 28, the Central Bank published a report warning of the risks posed by stablecoins, as their use could decrease the attractiveness of physical cash and cause financial instability.
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