Tag: stablecoins

Aug 19 2022

Despite Liquidity Problems, HUSD Stablecoin Returns to $1 Peg

Aug 19 2022 Published at Coinscreed under tags  huobi husd news stablecoins

The HUSD team said that the de-peg happened because a market maker account was closed, which made it hard to get money. Stable Universal's HUSD stablecoin, which dropped by 8% on Thursday, is now back to being worth $1. Friday, HUSD said in a tweet that the drop in value was due to the closing […] The post Despite Liquidity Problems,...

Tether Confirms Slashing of Commercial Paper Holdings

BDO Italia said that Commercial Paper Holdings had dropped by 58% to $8.5 billion at the end of the last quarter. BDO Italia has confirmed stablecoin issuer Tether's consolidated reserves report, which showed a 58 percent quarterly drop in commercial paper holdings to $8.5 billion as of June 30.Tether also confirmed that it still expects […] The post...

Tether’s (USDT) $8.5 Billion Commerical Paper Holdings Validated By BDO Audit

Summary: USDT stablecoin issuer Tether released the latest report on its reserves. The report was independently audited by BDO, a major accounting firm ranked in the top five globally. Friday's audit revealed a further reduction in the firm's commercial paper holdings over the last quarter. Cash holdings and bank deposits increased as well, per the audit. Tether previously announced plans to shrink commercial...

Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No – Ep.387

Aug 19 2022 Published at Unchained Podcast under tags  2022 ari redbord cftc laura shin ofac

Ari Redbord, Head of Legal and Government Affairs at TRM Labs, talks about the sanctions on Tornado Cash, and the role of blockchain analytics tools in crypto. Show highlights: Ari’s background as a federal prosecutor and his work for the US Treasury why regulators sanctioned Tornado Cash, according to Ari why the Ronin hack was important for regulators to start taking DeFi hacks...

Aug 18 2022

Tether to issue monthly attestation reports with new accounting firm BDO Italia

Aug 18 2022 Published at CryptoSlate under tags  partnerships stablecoins

Tether said Aug. 18 that it is now working with BDO Italia, a top five global accounting firm, in an effort to increase the transparency of the USDT stablecoin. The collaboration will see Tether release its proof-of-reserve report on a monthly basis. BDO Italia...

Huobi exited HUSD stablecoin deal before token depegged below $0.8

Aug 18 2022 Published at CryptoSlate under tags  stablecoins

Huobi's HUSD is the latest stablecoin to risk further de-pegging as it is currently trading below $0.8. The exchange, however, exited its stake in the stablecoin in April. According to coingecko, HUSD has declined over 11% within the last 24 hours as it is currently trading at $0.87. Curve finance also noted that the HUSD/USDT exchange rate in its HUSD/3Crv pool...

Aug 17 2022

Acala Has Recovered Almost 3B aUSD

Aug 17 2022 Published at Crypto Briefing under tags  acala news stablecoins

Acala has recovered almost 3 billion aUSD following its second trace of addresses affected by a recent attack. Acala Recovers 3 Billion aUSD Acala has recovered another batch of affected...

Stablecoin Payments Test by UK Group

Aug 17 2022 Published at Coinscreed under tags  crypto hub digital asset news stablecoins

A group of private companies called the Digital FMI Consortium would start Stablecoin Payments in October and keep it going for at least a year. A group of private companies called the Digital FMI Consortium said it plans to test international Stablecoin Payments using its own stablecoin, dSterling, which is backed by sterling and will […] The post Stablecoin...

Aug 16 2022

Acala burns 99% of aUSD involved in mint exploit

Aug 16 2022 Published at CryptoSlate under tags  hacks stablecoins

Acala has successfully burnt 1.288 billion aUSD reportedly lost to hackers during the Sunday exploit. Following the mint error on the horizon protocol, the community unanimously approved a referendum to burn all erroneously minted tokens. As a result, 1.2 billion aUSD has been taken out of circulation to help mitigate the risk of the exploit and restore aUSD to peg....

Coinbase CPO Surojit Chatterjee Explains Why He Believes the Exchange Will Win- Ep. 385

Aug 16 2022 Published at Unchained Podcast under tags  2022 banks binance bitcoin blockchain

Surojit Chatterjee, chief product officer at Coinbase, comes to talk about what products Coinbase is building, how it can thrive in such a competitive landscape, how to onboard billions of users into crypto, and much more. Show highlights: how Surojit got into crypto and ended up at Coinbase what sets Coinbase apart from the competition how to bring billions of customers to crypto...

Aug 15 2022

Acala Community Debating Massive Token Burn to Recover From Exploit

Aug 15 2022 Published at Crypto Briefing under tags  acala news stablecoins

The Acala community has proposed burning tokens to help its stablecoin recover dollar parity following this weekend's attack. Acala Could Execute Coin Burn Acala could carry out a coin burn...

Acala submits governance proposal to burn $1.28B aUSD following investigation of exploit

Aug 15 2022 Published at CryptoSlate under tags  hacks outage parachains stablecoins

Polkadot ecosystem's stablecoin Acala ($aUSD) suffered an exploit over the weekend that led to a malicious actor minting $1.2 billion out of thin air. The Acala team "paused" operations via an emergency governance proposal to investigate the issue. On August 15, a governance proposal was submitted to "effectively burn" $1.288 billion aUSD...

USDT supply up almost $2B over 30 days, USDC supply falls after blocking Tornado Cash linked wallets

Aug 15 2022 Published at CryptoSlate under tags  mim stablecoins tether usdc

Tether's CTO Paolo Ardoino has identified an increase in USDTs market supply over the last 30 days compared to its rival USDC, which declined over the same period. Why no one is talking about it?...

Aug 13 2022

Research: Ethereum is recovering its dominance over stablecoins

Aug 13 2022 Published at CryptoSlate under tags  ethereum research stablecoins

One of the easiest way for investors to deleverage their positions is to turn to stablecoins. Centralized stablecoins, unlike their algorithmic counterparts, are resistant to volatility and retain their peg even in the most violent market conditions. Over the past two years, the market has seen stablecoins grow significantly and become one of the most important parts of the crypto ecosystem. At its...

Aug 11 2022

MakerDAO plans against sanctions from USDC exposure

Aug 11 2022 Published at CryptoSlate under tags  regulation stablecoins

Following Circle's freeze of blacklisted Tornado Cash addresses, MakerDAO is re-assessing the risks associated with its USDC collateral. On August 8, issuers of USDC stablecoin Circle froze USDC tokens belonging to...

Aug 10 2022

USDT volume on exchanges up 20% in 3 months

Aug 10 2022 Published at CryptoSlate under tags  binance cz stablecoins tether usdt

The ratio of Tether (USDT) on exchanges is up 20% in the last three months, according to Santiment data....

Aug 09 2022

Circle to ‘fully and solely support Ethereum PoS’

Aug 09 2022 Published at CryptoSlate under tags  bitmex circle eth 2.0 exchanges investments

USD Coin (USDC) issuer Circle has revealed that it would fully support the Ethereum (ETH) proof-of-stake (PoS) chain post-merge. According to an Aug. 9 blog post, the stablecoin issuer was looking forward to "the future scaling opportunities (the Merge) unlocks as well as the reduced energy consumption profile of the...

A Brief History of Tether (USDT)

Tether (USDT) is the oldest and largest US dollar-pegged stablecoin in the crypto industry. The idea behind stablecoins is to ensure that investors are always ready for opportunities in the...

Aug 03 2022

Electrifying! With Stablesats, Galoy Brings The Dollar To The Lightning Network

If this works as promised, Stablesats could change the game. It could change the world, even. The new Galoy product solves a problem and an urge that the bitcoin community has had for ages. Synthetic dollars that don’t need a token or rely on a third party to work. In fact, if Stablesats works as promised it will solve the most difficult of...

Aug 02 2022

Vires.Finance to be “reset” following Waves revival plan proposal to solve liquidity crisis

Aug 02 2022 Published at CryptoSlate under tags  defi stablecoins web3

In April 2022, many called Waves a "Ponzi scheme' as the blockchain's primer stablecoin; USDN lost its peg to $0.81. The algorithmic stablecoin lost its peg weeks before the now infamous depeg event of Terra USD. However, the Waves chain has survived far better than the now entitled Terra Classic chain. At the time of writing,...

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