Search Results for "Stablecoin"
Binance sees surge in withdrawals amid spooked investors
Investors have pulled billions from Binance in the past day due to US Securities and Exchange Commission and New York Department of Financial Services action against BUSD and Paxos.
DeFiChain Becomes One of the First Blockchains to Fully Integrate Euro Coin, a Euro-backed Stablecoin
DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, has announced the debut of the Euro-backed stablecoin Euro Coin (EUROC) on its native blockchain. DeFiChain is one of the first blockchains to fully integrate a Euro-backed stablecoin.
Facebook Moving Further Away From Libra, But Considering its Own Digital Token System
Facebook is now considering developing a system of digital tokens, pegged to different government-issued currencies including the US dollar and the euro. The new plan will still include Libra, although Libra Association, separately, will continue its work on the stablecoin pegged to a basket of global currencies.
Tether Holdings Hires Major Wall Street Firm to Manage Treasury Portfolio
Tether has recruited a Wall Street company to handle its Treasury holdings.
BTG Pactual Launches Stablecoin Backed by USD
Brazilian investment bank BTG Pactual has launched its own stablecoin, BTG Dol, which is pegged to the value of the US dollar on a 1:1 ratio. The stablecoin will allow customers to "dollarize" a portion of their equity and will facilitate interaction between traditional finance and the digital economy.
Circle Partners with Cross River Bank for USDC Production and Redemption
Circle has partnered with Cross River Bank for USDC production and redemption, as well as expanded relationships with other banking partners like BNY Mellon. The USDC stablecoin recently experienced a peg-breaking incident but has since recovered.
Circle Rolls Out Native USDC on the Celo Blockchain, Expanding Stablecoin Access
Circle has integrated USDC directly onto the Celo blockchain, enabling faster and cheaper transactions with its native stablecoin. This aligns with Circle and Celo's shared mission of increasing financial access.
Acala Network's aUSD Depegged from Dollar Mark after Breach
Acala Network's stablecoin was depegged from the dollar mark on Sunday following a breach. A vote was proposed to pause operations on Acala after it noticed configuration issues regarding the Horizon protocol, which affects its stablecoin aUSD.
Robinhood Lists USDC as First Stablecoin on Trading Platform
Robinhood has adopted the second-largest stablecoin for trading transactions.
Circle's USDC Reserve Exposure and Potential Risks
Circle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent events such as the shutdown of SVB and Silvergate's decision to shut down its crypto bank arm have raised concerns about potential risks for Circle and its stablecoin USDC.
Fed Governor Warns ECB Forum that Libra Risks are Immense
The Governor of the Federal Reserve, Lael Brainard warned a European Central Bank (ECB) forum in Germany, that the risks posed by the potential mainstream adoption of the Facebook proposed stablecoin Libra, are too immense.
Terraform Labs co-founder defends against SEC allegations
Do Kwon, co-founder of Terraform Labs, has defended himself against allegations of fraud from the US Securities and Exchange Commission (SEC). Kwon’s lawyers have requested the dismissal of the lawsuit, claiming that the SEC's allegations are unfounded and that US law prohibits regulators from asserting jurisdiction over the digital assets in question. The lawyers also argued that the SEC failed to prove Kwon’s involvement in the collapse of Terra’s stablecoin, UST.
