Tag: stablecoin news

Aug 14 2022

Polcadot’s Acala Dips By 70% After Hackers Issued 1.2 Billion AUSD

Aug 14 2022 Published at Coingape under tags  ausd crypto defi defi news hacker

Yet another DeFi protocol has been tampered by hackers, who, in the last couple of months, have succeeded in breaching security of many other...

Aug 12 2022

Is MakerDAO Moving All Its USDC Funds to ETH? Vitalik Buterin Calls It Terrible Idea

In a big development, Rune Chirstensen, founder of MakerDAO has urged all the members to "seriously consider" preparing the depeg of the DAI stablecoin from the U.S. Dollar. The comments came on the MakerDAO discord channel...

Aug 10 2022

USDT Supply Ratio On Crypto Exchanges Spikes Exponentially, Here’s What It Means?

The USDT supply ratio on crypto exchanges witnessed a massive surge in three months. The space observed this development amidst two significant stages of the crypto markets from May to late-July. Such stages as the period of the...

Jul 29 2022

Another Stablecoin Crash; This Time Its On Solana (SOL)

Jul 29 2022 Published at Coingape under tags  bitcoin news defi news solana stablecoin

On July 28th, Solana-based decentralized finance protocol Nirvana Finance confirmed on twitter that it suffered a flash loan attack for USD 3.5 million which immediately led to the nosedive of its native token ANA and stablecoin NIRV. Another dollar pegged stablecoin destabilizes Crypto analytics firm Packshield, had first confirmed the exploit, the attacker used a...

Jul 27 2022

Breaking: IMF Sees Stablecoins Can Lead To Another “Crypto Winter”

Jul 27 2022 Published at Coingape under tags  imf news stablecoin news stablecoin risk

The crypto market is reeling under pressure as a result of contagion due to the Terra-LUNA crash in May and liquidity crisis in June, with the U.S. interest rate hike adding more pressure to the "crypto winter". Now, the International Monetary Fund believes the crypto market could see another sell- off and crypto failures, including stablecoins....

Jul 07 2022

Tether (USDT) Whale Wallets Hit 3-Yr Low, What Does It Mean?

Jul 07 2022 Published at Coingape under tags  crypto whale news stablecoin news tether usdt

Ongoing aversion to Tether (USDT), the largest stablecoin, appears to have spread into its largest wallets, new data shows. Data from blockchain analytics firm...

Jul 06 2022

Breaking: China Court Rules Restrictions On USDT, Here’s Why

China's Chaoyang Court on Wednesday in a labor dispute lawsuit ruled that companies can't pay wages in Tether (USDT). Moreover, the court stated that virtual currency...

After Market Turmoil, USDC Issuer Circle Comes Clean Hinting No Liquidity Risks

The cryptocurrency market has been going through a very rough period with several crypto firms reporting insolvencies and bankruptcy. A few hours ago, Voyager Digital...

Jul 04 2022

How Stable Is Tether? Data Shows USDT At Massive Liquidity Imbalance

Jul 04 2022 Published at Coingape under tags  crypto crash news stablecoin news tether usdt

The Tether stablecoin (USDT) appears to have failed in convincing investors that it is able to handle mass redemptions in the market. Data from Curve- the largest DeFi...

Jun 28 2022

Just In: USDC Parent Inks Major Pact With New York Bank

Circle, the issuer of USD Coin stablecoin, on Tuesday said it entered a custody partnership with New York Community Bancorp. Under the agreement, New York Community Bank will become a custodian for USDC stablecoin. The move is part of Circle Impact, an initiative to improve financial inclusion. It aims at distributing a share of USDC...

Jun 27 2022

Are Hedge Funds Planning USDT Dump? Tether CTO Responds To Rumors

The Chief Technology Officer at Tether, Paolo Ardoino today addressed what he called "open and coordinated" attacks by some hedge funds on USDT. This, he explained, is being done in a bid to spread another wave of FUD following the collapse of TERRA/LUNA. Ardoino says attackers will not succeed USDT's position as the number one...

Jun 22 2022

Breaking: Tether Unveils New Stablecoin GBP₮ Pegged to the British Pound

Jun 22 2022 Published at Coingape under tags  gbpt news stablecoin news tether stablecoin usdt

Amid the crypto market turmoil, stablecoin issuer Tether continues to expand its market presence. The world's largest stablecoin operator is now looking to enter the British market with a new stablecoin GBP₮, pegged to the British Sterling Pound. This is the fifth stablecoin from Tether pegged to a fiat currency. So far, apart from the...

Jun 20 2022

Circle’s USDC Surpasses Tether’s USDT, Here’s How

Circle’s stablecoin USDC has overtaken Tether’s USDT for the first time in the number of daily transactions on Ethereum, Nansen.AI CEO Alex Svanevik highlighted on Twitter. This news is the latest in a series of bad events for Tether. USDT still holds the lead in market value and daily trading volume. However, there is growing...

As USDD Depeg Deepens, What Is Justin Sun’s Plan?

Jun 20 2022 Published at Coingape under tags  stablecoin stablecoin news tron uncategorized

The Tron ecosystem had a major blow last week when the USDD stablecoin lost its $1 peg. This led to concerns among traders as USDD was launched last month as a rival to Terra's UST, an algorithmic stablecoin. Another depegging of a similar asset also meant that TRX's price also dropped for a bit therafter....

Jun 18 2022

Data Suggets USDC May Soon Replace USDT As Stablecoin Favorite

On-chain data analytics site Glassnode disclosed today that world's second largest stable coin USDC is gaining traction as crypto investors seem to prefer it over USDT. This is evidenced in the total number of supply the coin gained from last month alone. USDC seems to be coming for USDT's position As of January 2021, USDC had...

Magic Internet Money (MIM) Stablecoin Depegs Amid Insolvency FUD

Magic Internet Money (MIM), the native token of the Abracadabra DeFi platform, is the latest stablecoin to lose its peg as crypto markets unwind. MIM, which is the 42nd largest stablecoin by market capital, has dropped 7% in the past 24 hours, and is trading around $0.9456. The de-pegging comes amid a sharp decline in...

Jun 15 2022

Breaking: S. Korea Probe Tightens Noose Around Do Kwon Probe

Jun 15 2022 Published at Coingape under tags  do kwon stablecoin stablecoin news

In the middle of various legal encounters and regulatory pressure, the situation around Terra continues to only worsen. The company has attracted multiple cases of legal scrutiny both in the U.S. and South Korea. Ever since Terra network’s crash last month, regulatory measures around Do Kwon probe had intensified. Korea Prosecutors Seize Terra Tax Data...

Jun 09 2022

Breaking: SEC’s Latest Terra Probe Reveals Shocking Details

Jun 09 2022 Published at Coingape under tags  do kwon stablecoin news terra crash

Amidst a separate investigation by the South Korean police over Terra’s embezzlement of funds, a fresh probe is in the offing. On Tuesday, a Terraform Labs...

Jun 08 2022

Breaking: Biggest Regulatory Action On Stablecoin Security

After the Terra crash erupted last month, all the focus was on stablecoins. Many people called for...

Jun 05 2022

Breaking: USDD Breaks Highest Collaterization Record Amid Stablecoin Fears

Jun 05 2022 Published at Coingape under tags  stablecoin stablecoin news tron (trx)

Amidst all the turbulence surrounding stablecoins over the last one month, Tron’s USDD continues to make significant strides. Ever since it...

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