usd
Intercontinental Exchange Plans to Launch Bakkt Bitcoin USD Cash Settled Monthly Futures
Singaporean Intercontinental Exchange (ICE) announced its plan to launch the Bakkt Bitcoin (USD) Cash Settled Monthly Futures, the first well-regulated futures platform for cryptocurrencies, on December 9.
Nifty Launches First USD-Based NFT Exchange Backed By Winklevoss Twins
Nifty, a centralized USD-based exchange for non-fungible tokens (NFTs), has announced that the Nifty Gateway 2.0 upgrade is live as of March 17.
Tron's Justin Sun Hopes USDD to Become First Stablecoin in “EthereumPOW ecosystem”
H.E. Justin Sun, Founder of TRON and investor of Poloniex, a global cryptocurrency exchange, hopes that USDD the stablecoin would become the first one in the “EthereumPOW ecosystem” after the completion of the Merge. However, Sun reiterated that he supports the fork with the strongest community consensus and the largest hashrate instead of supporting one specific fork.
US Court Indicts Alleged Lazarus Group Members in $250 Million Crypto Exchange Theft
Two Chinese nationals, Tian YinYin and Li Jiadong were sanctioned yesterday by the US Government yesterday for their alleged involvement in laundering stolen cryptocurrency from a 2018 cyberattack. The pair have been charged with stealing nearly $250 million in virtual assets and laundering the money through converting BTC to USD and Chinese Yuan as well as through iTunes gift cards.
Stablecoin USDC Issuer Circle Launches Verit-based Institutional Digital Identity System
On October 1, Circle, the US dollar stablecoin USDC issuer, announced the launch of an institutional digital identity system based on Verit, an open source framework for the issuance, custody and verification of decentralized identity credentials.
Binance Launches Incentive Campaign for USDC-M Perpetual Contracts
Binance launches a dual-incentive promotional campaign for USDC-margined perpetual contracts, targeting deposits and trading activities to stimulate market engagement and diversify trading options in the crypto futures market.
Bitcoin Surges Past $20,000, Ether Bounces As USD Weakens
Bitcoin surged on Tuesday breaking back above the $20,000 level while major altcoins led by Ether rose on a positive market upturn as the US dollar fell.
Paxos Discusses BUSD Stablecoin With SEC Following Wells
Paxos CEO Charles Cascarilla said the business was "engaged in productive negotiations" with the SEC and will continue to communicate privately.
Circle CEO Expects Yuan-Backed Stablecoins Despite China's Crypto Ban
According to SCMP, despite the stringent ban on cryptocurrencies in mainland China, Jeremy Allaire, the co-founder and CEO of Circle, a leading operator of the USDC stablecoin, foresees a significant role for yuan-backed stablecoins in the global crypto market.
Moneygram Partners with Stellar Blockchain Network to Enable Instant Crypto-To-Fiat Settlements Using USDC Stablecoin
MoneyGram has partnered with Stellar Development Foundation to enable customers to make settlements in different fiat currencies including cryptocurrencies using USDC stablecoin.
Coinbase and Circle Add Algorand Blockchain to Multi-Chain USDC Stablecoin Framework—Faster than Ethereum
Coinbase and Circle Centre Consortium have expanded USDC from Ethereum to Algorand’s blockchain as part of its multi-chain USDC framework.
Circle Deploys New Pre-Mint Address for USDC on Solana (SOL)
Circle has introduced a new pre-mint address for USDC on the Solana blockchain, streamlining operations in anticipation of the Cross-Chain Transfer Protocol launch.
USDC Issuer Circle to Launch Euro-Backed Stablecoin
The move by Circle to involve in launching its Euro stablecoin is based on user demand and business competition. The use of euro-backed stablecoins is rising in Europe.
Decentralized Perpetual Exchange PairEx Announces Beta Trading Competition with Up to 8,888 USD ARB & PEX Tokens
PairEx.io, a decentralized perpetual exchange built on the Arbitrum network, is excited to announce its beta trading competition with a prize pool of up to 8,888 USD equivalent in ARB and PEX tokens. The competition, which is now live, offers traders the opportunity to showcase their trading skills and win lucrative rewards.
Paxful Crypto Peer-to-Peer Marketplace Expands Beyond Bitcoin with Tether USDT Stablecoin
Paxful, the leading peer-to-peer Bitcoin trading platform, announced that it will be adding stablecoin Tether to its crypto payment options.
Circle Launches Cross-Chain Transfer Protocol for USDC
Circle has released a mainnet protocol allowing users to transfer USDC between Ethereum and Avalanche. The Cross-Chain Transfer Protocol (CCTP) eliminates the need for USDC bridges and aims to reduce fragmentation in the Web3 ecosystem.
Portal Debuts on Binance Launchpool for BNB and FDUSD Farming
Binance Launchpool has added cross-chain gaming startup Portal for a new farming event. Users can earn PORTAL tokens by staking BNB and FDUSD over 7 days starting February 22nd. PORTAL will then list on Binance against major trading pairs.
Justin Sun Withdraws Millions of Dollars’ Worth of USDT from Aave's Lending Pools
The Tron founder Justin Sun has withdrawn a huge amount of liquidity from the DeFi protocol. The move is likely to have been triggered by the recent ban on addresses that received funds from Tornado cash.
Banking Circle Adopts USDC as Currency on its Payment Rails
Banking Circle, an European Union (EU) regulated payments bank has announced that it has integrated the USD Coin (USDC) stablecoin into its payment rail
Binance to Remove ALCX, FOR, LOOM, NMR, PEOPLE, PUNDIX, SPELL, STORJ from BUSD Trading Pairs on August 25, 2023
Effective from 2023-08-25 at 03:00 (UTC), the following spot pairs will no longer be available for trading on the platform: ALCX/BUSD, FOR/BUSD, LOOM/BUSD, NMR/BUSD, PEOPLE/BUSD, PUNDIX/BUSD, SPELL/BUSD, and STORJ/BUSD.
Hong Kong Customs Arrests Four Men in Alleged $155M Crypto Laundering
Hong Kong Customs announced Thursday that the authority had dismantled a local cryptocurrency money-laundering syndicate involving HK$1.2 billion ($US 155 million). The operation is considered the first case for the same kind in the city.
FV Bank Partners with Circle for Instant USDC Deposits and Conversion
FV Bank, a global digital bank, has partnered with Circle to enable instant and automatic conversion of USD Coin (USDC) into USD upon deposit for a seamless experience.
Tether Taps BDO Global for Attestation of Reserve
Tether Holdings Ltd, the firm known for the issuance of the world’s largest stablecoin, USDT has tapped the Italian branch of Binder Dijker Otte (BDO), the fifth biggest public accounting firm to help in the handling of its assurance and attestation processes
USDC Issuer Circle Secures $400M Funding from Fidelity and BlackRock
Circle, the company behind USD Coin (USDC), has bagged funding worth $400 million from different players, including Fidelity Management, BlackRock Inc, and Research LLC, signalling traditional finance interest in the crypto space.
Ripple CEO Garlinghouse Foresees Ether ETF Approval, Critiques SEC's Approach
Ripple CEO Brad Garlinghouse predicts the approval of an Ether ETF by the SEC, critiquing the commission's approach under Gary Gensler as a political liability and detrimental to the U.S. economy's growth.
Paolo Ardoino: Tether Tests New Bitcoin Mining Platform, Moria, with Enhanced Software Control
Tether is testing its new Bitcoin mining platform, Moria, which has undergone significant software enhancements, including software-driven PDU management and multisig approval. Moria is designed to integrate with IoT devices, potentially revolutionizing mining operations. Tether's diversification into Bitcoin mining is still in its testing phase.
Tether Emphasizes Commitment to Transparency, Releases Reserves Information in Response to CoinDesk's FOIL Request
Tether has reaffirmed its commitment to transparency and announced its completion of reporting obligations to the New York Attorney General's Office. Under the terms of its 2021 settlement, Tether fulfilled its quarterly reporting requirements for a period of two years.
Circle Launches Native USDC on Polygon
Circle has natively integrated USDC on the Polygon PoS network, enabling direct access for users and developers. This move phases out the need for bridged USDC.e, providing a more stable and straightforward means for transactions on the network. The development is anticipated to foster numerous use cases, enhancing the overall ecosystem.
HDAO soared +1469% immediately after listing!
Earlier, the most influential Hong Kong Digital Asset Exchange HKD.com launched its platform token HKD.com DAO (HDAO), sold out in 5 seconds.
Circle Unable to Withdraw $3.3 Billion from SVB, Causing USDC Sell-Off
Circle, the issuer of USD Coin (USDC), was unable to withdraw $3.3 billion of its $40 billion reserves from Silicon Valley Bank (SVB), leading to a sell-off that caused the stablecoin's value to drop below its $1 peg. Circle initiated a wire transfer to remove the funds from SVB as the FDIC-insured bank was about to shut operations, but the transfer was not wholly processed, leaving $3.3 billion of USDC reserves with SVB. Dante Disparte, Circle's chief strategy officer, warned that SVB's failure could have broader implications for the US economy.
Stablecoins Pose Risks to Financial Stability: Yellen
The instability of the UST stablecoin has pushed the United States Treasury Secretary, Janet Yellen, to advocate for introducing a tighter regulatory framework to govern the entire stablecoin offshoot of the crypto ecosystem.
FTX Continues to Move Funds Amid Ongoing Investigations
Addresses associated with FTX and its subsidiary, Alameda Research, have reportedly transferred $145 million in stablecoins to various platforms, as the cryptocurrency exchange faces demands to return funds to different groups of investors amid ongoing investigations and lawsuits.
Coindesk May Be Sold as Parent Company DCG Struggles
CoinDesk may sell. Digital Currency Group (DCG), its parent firm, looks to be struggling financially. DCG has received many bids over $200 million for the media group in recent months.
Injective (INJ) Becomes First Non-Ethereum Blockchain to Integrate Ethena's USDe
thena, the prominent DeFi protocol with nearly $1 billion in TVL, expands its ecosystem by launching USDe and Ethena Shards exclusively on the Injective blockchain.
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.
USDC Holders Panic Sell Amid Solvency Concerns
On March 10, concerns about the solvency of USD Coin (USDC) led several holders to panic sell their holdings and switch to other stablecoins. One user lost over 2 million USDC in a failed attempt to exchange them for Tether (USDT) using KyberSwap's decentralized exchange aggregator. Tron founder Justin Sun reportedly withdrew 82 million USDC and exchanged them for Dai (DAI) using Aave v2, while IOSG Ventures sold 118.73 million USDC for 105.67 million USDT and 2,756 Ether (ETH). The USDC price has since slowly recovered, and Circle, the company behind USDC, disclosed holding $3.3 billion at the Silicon Valley Bank.
Crypto Exchange Bit.com Rolls Out Savings Product and USDT Margined Futures
Bit.com, a Singapore-based crypto exchange owned by Matrixport, has launched a new savings product and USDT margined futures to diversify the cryptocurrency options offered.
Terraform Labs Seeks Citadel Securities' Trading Data amid SEC Lawsuit
Terraform Labs has filed a motion against Citadel Securities seeking critical trading data for its defense in a lawsuit by the SEC. The case revolves around market destabilization allegations during the May 2022 Depeg event of TerraUSD stablecoin. The motion urges disclosure of trading strategies between March and May 2022, amidst indications of Citadel Securities' alleged intentions to short UST. Terraform Labs stresses the documents' importance in countering the SEC's fraud allegations, proposing a transfer to another court for a decision if necessary.
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.
Tether Boosts US Treasury Holdings Behind USDT, Further Reducing Commercial Paper
Tether said it has increased its investments in US Treasury bills backing its $68 billion stablecoin.
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.
Binance Ends USDC Transactions on TRC20 Network
Binance will stop supporting USDC transactions on the TRC20 network from April 5, 2024, in response to Circle's policy changes.
Terra Expands Stablecoin Reserve by Purchasing $100m worth of Avalanche Tokens
The Luna Foundation Guard (LFG), primarily focused on the Terra blockchain, expands its TerraUSD (UST) stablecoin reserve by purchasing $100 million worth of Avalanche tokens.
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.
UK Finance Ministry Proposes Safety Net Measures against Stalling Stablecoins
The proposals presented by the British finance ministry are aimed to mitigate risks related to stablecoins amid the recent TerraUSD de-pegging fiasco.
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.
Shiba Inu Shibarium Introduces Wrapped BONE and Hosted Blockscout Explorer
Shibarium has 1 million wallets and near 1 million transactions. It launched a hosted Blockscout explorer and expanded its token bridge to include various tokens. The Wrapped BONE contract has been verified, and Shibarium plans to renounce the Bone contract.
USDT Sees Rise on Ukraine's Kuna Exchange Following Russia Attack
The price of Tether's USDT stablecoin soared to 36.97 Ukrainian hryvnias (UAH) ($1.23) on Ukraine's Kuna exchange on Thursday, following the ongoing invasion from Russia.
Wormhole Foundation Launches STIP Grant with 1.8M ARB to Boost Arbitrum Ecosystem
The Wormhole Foundation's STIP Grant, funded by a 1.8M ARB grant from Arbitrum DAO, incentivizes USDC migration to Arbitrum to enhance liquidity and network growth.
Tether Floats Mexican Pesos-based Stablecoin in Latin America
Tether Operations Limited, the blockchain startup behind the USDT stablecoin, has announced its entry into Latin America with the launch of the Mexican Pesos backed MXN₮ stablecoin.
NFT will Become the Revenue Model of Metaverse,Co-founder of Tether William Quigley says
William Quigley, the co-founder of the stablecoin- Tether (USDT), said the business model would undergo radical changes in the future. The delivery of non-fungible tokens (NFTs) will become the revenue model of Metaverse and Crypto.
Breaking: Visa Expands Stablecoin Settlement On Solana
Visa has expanded its stablecoin settlement capabilities, incorporating the Solana blockchain and initiating pilot programs with merchant acquirers Worldpay and Nuvei. The move aims to modernize cross-border money movement by leveraging stablecoins like Circle's USDC. Visa has conducted live pilots, transferring millions of USDC between partners over Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized via VisaNet. The new settlement options enable Visa to send funds on-chain to acquirers like Worldpay and Nuvei, serving various sectors.
Binance-Backed WazirX Exchange to Delist USDC, USDP & TUSD
Indian crypto platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange.
Binance Launches Futures NEXT: Predict Token Listings and Earn Rewards
Binance introduces Futures NEXT, a platform allowing users to predict token listings on USD‚ìà-M Futures market and earn rewards through a unique Pick system and multiplier-based vouchers.
Wintermute Accuses Near Foundation and Aurora Labs of Failing to Honor USN Redemptions
Wintermute criticizes Near Foundation and Aurora Labs for failing to fulfill USN redemption commitments, resulting in significant unredeemed funds. Seeking legal recourse and remaining adversarial if resolutions fail.
Tether Criticizes UN Report for Overlooking USDT Traceability and Law Enforcement Collaboration
Tether rebuts a UN report accusing USDT of facilitating illicit activities, underscoring its traceability and law enforcement collaboration, and highlighting USDT's positive impact on developing economies.
Polkadot Reports Q3 Growth: New Parachains, Staking Metrics, and Technical Upgrades
Polkadot's ecosystem saw significant expansion in Q3 2023, with the addition of five new parachains, a rise in staking metrics, and major technical upgrades. The total volume of staked DOT increased to 663 million, and the platform recorded more than 190 million on-chain events. The quarter also saw the introduction of native USDC and a 20% quarter-on-quarter rise in XCM messages.
Tether Ventures into Sustainable Energy Production and Bitcoin Mining in Renewable-Rich Uruguay
Tether, the company renowned for powering the world's foremost stablecoin, announced today its ambitious venture into energy production and sustainable Bitcoin mining in Uruguay.
New Money Theory in Action: Circle's USDC Stablecoin
Circle is gearing up for 2020 with a renewed deep focus on stablecoins and the powerful potential they hold for people, enterprises, and governments globally.
Banking crisis could push cryptocurrency regulation into gray area
Circle CEO Jeremy Allaire believes that the ongoing global banking crisis could lead to more uncertainty and gray area in the regulation of cryptocurrencies due to market anxiety over exposure to the US financial system and the risk of a large-scale banking system failure.
Curve Finance Launches MIM/crvUSD Pool on Arbitrum, Bolstering DeFi Ecosystem
Curve Finance's new MIM/crvUSD liquidity pool on Arbitrum marks a significant advancement in DeFi, offering enhanced liquidity and user experience. This strategic move leverages Arbitrum's layer 2 capabilities for faster, cost-effective transactions, underlining Curve's commitment to innovation and community-driven governance.
Paysafe Halts EUR Deposits for Binance Users: What You Need to Know
Paysafe Payment Solutions Limited has abruptly stopped processing EUR deposits for Binance users. The decision affects several Binance services, including spot trading and auto-invest plans. Users are advised to convert their EUR balances to USDT by October 31, 2023, or withdraw them to their bank accounts.
Genesis Capital Breaks Previous Quarter Record With 870M in New Loan Originations in Q3
Genesis records rising demand for cash and stablecoins
MakerDAO Keeps USDC as Primary Collateral for Dai
MakerDAO has voted to keep USDC as the primary collateral for Dai, rejecting a proposal to diversify into GUSD and USDP. The decision was made based on reduced risks from a cascading bank run in the US and USDC's return to a $1 peg.
Cryptocurrency Detective ZachXBT Uncovers Unusual ETH Withdrawals for MTG Cards
ZachXBT's analysis of cryptocurrency transactions involving the withdrawal of over 11,200 ETH, equivalent to $25 million, raises questions about the source and intent of these funds.
The Digital Dollar Continues to be Pushed by Former CFTC Chair
The former US Commodity and Futures Trading Commission (CFTC) Chairman continues to fight for the U.S Dollar to become a digital global force.
Facebook Taps Coinbase to Offer Custody Services for Novi Digital Wallet Rollout
Facebook is launching Novi digital wallet. The social giant has hired Coinbase to serve as a custody partner.
Stablecoins Could Bolster U.S. Dollar and Economic Competitiveness: Circle CEO
In a compelling testimony delivered to the House Financial Services Committee, Jeremy Allaire, CEO and Co-Founder of Circle, underlined the significant role stablecoins, such as the U.S. Dollar Coin (USDC), could play in strengthening the global position of the U.S. dollar.
Coinbase Suspends Trading on 41 Non-USD Pairs
Coinbase Exchange suspended 41 non-USD trading pairs on September 13, 2023, to improve market health and consolidate liquidity. Users on Coinbase Exchange, Advanced Trade, and Coinbase Prime can continue trades using USDC balances and USDC unification. The suspension has minimal impact on trading volume.
Origin Protocol Puts $1 Million Bounty on Hacker As OUSD Stablecoin Loses Stability
Origin has now announced a $1 million bounty reward for anyone who can bring the hacker responsible for destabilizing its stablecoin to justice.
Venezuelans to Bypass Hyperinflation with Bitcoin-Backed Synthetic US Dollars After Years of Extreme Economic Crisis
A cross-border remittance startup based in Colombia, Valiu has released a new Bitcoin-backed US dollars for Venezuelans to bypass the hyperinflation that has been tormenting their national economy.
Binance Launches Referral Promotion for African Users with 17,500 USDT in Token Voucher Rewards
Binance is launching a new referral scheme targeting users in the Africa region, offering a reward pool of 17,500 USDT in token vouchers. The promotion runs from September 18 to October 2, 2023, and requires users to register and complete KYC within the promotion timeframe. The rewards will be distributed within 20 days post-promotion.
Dismissal of Lawsuit Against Tether and Bitfinex Affirmed, Plaintiff Drops Appeal
Tether and Bitfinex have won a lawsuit against Shawn Dolifka and Matthew Anderson, despite allegations of misleading statements about USDT reserves, underscoring the importance of transparency in the cryptocurrency sector.
US Draft Bill Proposes Framework for Stablecoins
A new draft bill has been published in the United States proposing a regulatory framework for stablecoins. The bill would put the Federal Reserve in charge of non-bank stablecoin issuers, such as Tether and Circle. Insured depository institutions seeking to issue stablecoins would fall under federal banking agency supervision. The bill also includes a ban on issuing stablecoins not backed by tangible assets and proposes a study on "endogenously collateralized stablecoins."
Vitalik Buterin's USDC Transfer, Market Crash and USDC Depegging
Vitalik Buterin, the co-founder of Ethereum, recently executed a transaction that involved transferring 3,300 USD Coin (USDC) amidst a market downturn. This event coincided with Ethereum's price falling by more than 10%, reaching a low of $2,100, and a significant depegging of USDC by 24% against USDT.
Do Kwon Suggests Terra Hard Fork to Revive Troubled Network
Do Kwon, the CEO of Terraform Labs, believes hard forking the Terra blockchain will play an instrumental role in saving the troubled network.
Tether's Financial Triumph: Record $2.85B Q4 Profit and Strategic Asset Growth
Tether Holdings Limited reported a Q4 2023 profit of $2.85 billion, boosted by US Treasuries, Gold, and Bitcoin reserves, and a net profit of $6.2 billion, showcasing strong financial health.
Binance Announces Successful Integration of Kava EVM
Binance has completed the integration of Kava's Ethereum Virtual Machine (EVM), now supporting deposits and withdrawals for KAVA and USDT.
BTSE Becomes 1st Exchange to Offer Perpetual Futures Trading for Overcollateralized Stablecoin
Crypto exchange BTSE has become the first to offer perpetual futures trading for the world's newest stablecoin- US Decentralized (USDD).
Argentina Fighter Guido Cannetti Accepts Salary in Stablecoin
Argentina athlete Guido Cannetti of the world's leading mixed martial arts competition Ultimate Fighting Championship (UFC) announced that his salary will be paid in full in stablecoin USDC.
Banks increase risks to stablecoins
The death of the Terra ecosystem triggered a bear market in 2022, causing losses in billions, affecting investor sentiment, and intensifying the regulatory spotlight over cryptocurrencies. Recently, Circle's disclosure that Silicon Valley Bank (SVB) did not process its $3.3 billion withdrawal request led to the depegging of its USD Coin (USDC). This event caused Binance CEO CZ to believe that traditional banks are a risk to stablecoins that are usually pegged 1:1 with fiat currencies, like the U.S. dollar.
Over 115 Billion USDT Used in Southeast Asia's Illicit Activities in 2022: Revealed Bitrace
Bitrace, a blockchain analytics firm, revealed that 115 billion USDT was involved in illegal cryptocurrency activities in Southeast Asia in 2022, highlighting the transparency of blockchain ledgers.
Circle CEO Criticizes SEC Stablecoin regulations
As payment systems, stablecoins are not securities, according to Circle's CEO.
Tron Blockchain Launches USDD Decentralized Stablecoin by Tron DAO Reserve
Justin Sun, the founder of the Tron blockchain network, said that he has launched a USDD decentralized stablecoin pegged to the US dollar at a ratio of 1:1 through the Tron DAO Reserve.
Luna Terraform Labs Opts for Chapter 11 Bankruptcy to Counter SEC's Securities Fraud Lawsuit
Terraform Labs files for bankruptcy to appeal against SEC lawsuit, challenging jurisdiction over crypto assets. CEO Amani challenges jurisdiction, affecting cryptocurrency regulation and digital asset classification.
Circle's Stablecoin USDC Affected by Collapsed Bank
Circle's USDC stablecoin briefly de-pegged after news that $3.3 billion of its cash reserves were stuck with collapsed bank Silicon Valley Bank. USDC's dollar peg has since recovered, but mass redemptions have led to a drop in the stablecoin's market cap by nearly 10% since March 11.
Prosecutors Investigate Do Kwon with Ponzi Fraud Charges amid Terraform Labs Dissolvement
South Korean Prosecutors are investigating Do Kwon if they will file Ponzi fraud charges against him following the Terra crash.
Circle's New APIs Simplify Complex Crypto Concepts For Mass Institutional Adoption
Circle Builds Layers of Simplicity over Complex Crypto Concepts for Business to Trigger Digital Adoption
Binance P2P Introduces Flat Taker Fee on USDT Trades in Select Markets
Binance P2P platform announces the implementation of a flat taker fee for USDT trading pairs across selected fiat markets, set to take effect by end of June 2024.
Ether.fi (ETHFI) Set to Launch on Binance Launchpool, Enabling Users to Farm Tokens by Staking BNB and FDUSD
Binance announces the upcoming launch of Ether.fi (ETHFI) on its Launchpool platform, allowing users to farm ETHFI tokens by staking BNB and FDUSD. The decentralized staking protocol will be the 49th project featured on Binance Launchpool.
Bybit suspends USD bank transfers amid service outages
Dubai-based crypto exchange Bybit has temporarily suspended USD deposits via bank transfers due to "service outages from a partner." Users can still withdraw funds through wire transfers until March 10, but are encouraged to do so as soon as possible to avoid potential disruptions. Bybit has exposure to the bankrupt crypto lender Genesis Global Trading and claims all client funds are safe and secure.
Here is Why Tether Blacklisted Five TRON Addresses
Tether has blacklisted five new addresses on the TRON blockchain, highlighting its efforts to maintain network integrity and security. The largest address lost over $1.2 million USDT, aiding law enforcement and users in recovering stolen funds.
Over 12,000 Brazilan Firms Hold Crypto, Says Local Tax Authority
According to a recent report from the Brazilian Tax Authority (RFB), Brazil registered a hike in records of companies and institutions claiming to hold some cryptocurrencies.
FIS Worldpay Partners with Circle for Merchant Payment Settlements in USDC Stablecoin
By partnering with Circle, Worldpay will enable merchants to have the ability to receive settlement directly in USDC stablecoin.
Facebook Diem Project to Launch USD Stablecoin after Dropping Swiss License Application Plan
Diem Association is planning to move its main operations from Switzerland to the United States.
Circle Inks Strategy Partnership with Bancorp for USDC Custody
Circle Internet Financials LLC, the blockchain company responsible for the issuance of the USDC stablecoin, has announced its latest partnership with New York Community Bank (NYCB).
Will Terra’s UST and LUNA Crash Cause a Shift to ‘Cryptos that have Stood the Test of Time’?
LUNA has left crypto enthusiasts' mouths agape because they could never imagine in their wildest dreams that one of the top ten cryptocurrencies could collapse to near-zero overnight.
Bitrue Will Support Symbol (XYM) Airdrop for NEM Holders and Launch Pre-Trading
Bitrue, the cryptocurrency exchange that regularly clears over $1 billion in daily volume, has announced that it will be supporting the upcoming Symbol (XYM) token airdrop. To create a market for the new token at the earliest opportunity, Bitrue will be offering trading through an IOU system.
Bentley University Rolls Out Crypto Payment Option for Tuition Fees
To offer students and their families new methods to pay tuition, US-based Bentley University has started accepting crypto payments.
Maple Finance Opens Cash Management Solution to U.S. Investors, Backed by U.S. Treasury Bills
Maple Finance opens Cash Management to U.S. Accredited Investors, offering yield backed by U.S. Treasury bills.
Binance Futures to Introduce FDUSD Margin, Phase Out USDP
Binance Futures is set to support FDUSD as a margin asset, replacing USDP in Multi-Assets Mode, enhancing the platform's flexibility for users.
Justin Sun Proposes the Establishment of Tron DAO Reserve and to Launch USDD Stablecoin
Justin Sun, the founder of the Tron blockchain network, is stepping up his responsibility in the broader digital currency ecosystem with the establishment of the Tron DAO Reserve.
MakerDAO May Onboard USDC as DAI Collateral Support to Combat Mounting Liquidity Risk
The share plunge of the cryptocurrency market has severely hit MakerDAO, the leader in the decentralized finance (DeFi) ecosystem. Last week its market value fell sharply from 889M to $246M which brought together Maker’s developer community who have recently discussed adding support for Circle’s USDC as collateral to hedge against the liquidity risk.
TrueUSD Depegging Linked to Binance Launchpool Activities
TrueUSD (TUSD) depegged below its $1 parity, dropping to $0.97, amid significant selling on Binance and issues with real-time reserve attestations. The depegging was linked to activities on Binance Launchpool and raises questions about stablecoin stability and transparency.
Tether Deny Bitcoin Bull Run Manipulation
Reporting on allegations made against Tether’s parent company Ifinex, Tether has released follow up comments to deny any wrongdoing in the market.
Tether Eliminates All Commercial Paper Holdings to Zero
Tether has cut down all commercial paper exposure from its reserves. The firm said the move is part of its ongoing efforts to increase transparency.
Paxos—Regulated and Rising above Trustless Tether and Lost Libra
In this second part of our interview with Cascarilla, he explains why the PAX stablecoin is ultimately superior to Tether and gives his thoughts on Facebook’s Libra project and the nature of money.
Depegging of USDC and DAI Saves Borrowers $100 Million
The depegging of USD Coin (USDC) and Dai (DAI) from the US dollar resulted in more than $2 billion in loan repayments on decentralized lending protocols Aave and Compound, with borrowers saving a total of over $100 million. USDC and DAI started heading back toward their peg, and repayment activity tapered off in the following days.
Stablecoin USDC Issuer Circle to Apply for U.S. Crypto Banking License
Circle Internet Financial, the second-largest stablecoin USDC issuer, said it is now close to submitting an application to U.S. regulators to operate as a bank.
Former Coinbase CTO Bets $1 Million on Bitcoin Reaching $1 Million in 90 Days
Former Coinbase chief technology officer Balaji Srinivasan has placed a bet worth $1 million on Bitcoin's price reaching $1 million by June 17. Srinivasan accepted the wager from pseudonymous Twitter user James Medlock, who bet $1 million that the United States would not experience hyperinflation.
USDC Enjoys Robust Reserve & Redeemed on 1:1 basis with USD, Says Circle CEO
Jeremy Allaire, the founder and CEO of USDC stablecoin issuer- Circle, shared on Twitter about the firm and how to place in a better position financially, despite the ongoing crypto market meltdown.
$27M USDT Theft Linked to Binance Deployer Address
A 27 million USDT cryptocurrency theft, linked to Binance's deployer, has raised security concerns and highlighted the risks of cryptocurrency holdings and recovery challenges.
Circle Introduces Native USDC on OP Mainnet: What It Means for the Ecosystem
Circle launches native USDC on OP Mainnet, replacing Ethereum bridged liquidity. Collaborating with Optimism, it will be available on Coinbase's Base, Solana, Ethereum, and Mercado Pago.
Circle's USDC Reserves Remain Stuck at SVB, Raises Concerns Over Crypto Stability
Circle's $3.3 billion worth of USDC reserves held at Silicon Valley Bank (SVB) have not been processed, raising concerns over the stability of the cryptocurrency. This follows the disclosure that 20% of Circle's USDC reserves were held in several financial institutions, including the recently bankrupted Silvergate and the now-shuttered SVB. The world of cryptocurrencies has been characterized by volatility, leading to concerns over their stability and reliability as a store of value. One cryptocurrency that has been touted as a more stable alternative to Bitcoin is USD Coin (USDC), a stablecoin that is pegged to the US dollar.
Tether USD₮ Sets New Record Cementing Its Status as the Top Stablecoin for Global Financial Freedom
Tether, the leading blockchain-enabled platform behind the widely used stablecoin, USD₮, has achieved a significant milestone by surpassing its previous all-time high market cap of $83.2 billion, which was set in May 2022.
Bitcoin is Teaching Generation Z How to Properly Save, says 10T Holdings Co-Founder
Dan Tapiero, the co-founder of digital asset firm 10T Holdings, has disclosed that Bitcoin is playing an instrumental role in teaching Gen Z how to save.
Binance Adds DOGE, XRP, SOL to FDUSD with Zero Maker Fees
Binance introduces five new trading pairs, including DOGE/FDUSD and SOL/FDUSD, and offers zero maker fees on FDUSD pairs until further notice, potentially increasing liquidity and trading volumes, with TRY as part of TOMO/TRY and UNFI/TRY pairs.
Binance.US Halts BUSD Services Amid Investigation
Binance.US has temporarily halted BUSD services including deposits and withdrawals, and buying, selling, and converting crypto options via the OCBS. The platform is investigating the issue and is also transitioning to new banking and payment service providers, leading to the temporary suspension of certain U.S. dollar deposit services.
Azuki's Twitter Account Hacked, Over $750,000 Stolen
Azuki, a popular nonfungible token project, had its Twitter account hacked, stealing almost $750K in USDC in 30 minutes.
LUNA and UST Crash Could Have Been Averted if Bitcoin Reserves were Used Earlier, Binance CEO Says
The collapse of LUNA and UST, the native tokens of the Terra network, could have been avoided if the Luna Foundation Guard (LFG) had used its Bitcoin reserves earlier, according to Binance CEO Changpeng Zhao (CZ).
Circle Integrates zkSync for USD Coin
Circle has integrated Ethereum's zero-knowledge layer-2 solution zkSync into its native stablecoin, USD Coin, enhancing transaction processing speed and preserving Ethereum's foundational values, thereby expanding its availability in the Ethereum layer-2 ecosystem.
Circle Plans to Increase Workforce by 15-25%
Circle's $42 billion USDC is the second-largest stablecoin behind Tether's USDT.
Binance Launches Football Fan Token Index Perpetual Contracts Ahead of FIFA 2022
Binance is offering its customers another trading opportunity by launching football fan token index perpetual contracts. The new product is set to help users make the most of market conditions.
Rocket Pool GMC Treasury Considers USDC Diversification to Stabilize $RPL Value
Rocket Pool's GMC plans to convert 20% of monthly inflow payments to USDC starting September, aiming to attract a diverse applicant pool despite challenges in optimal allocation strategy.
Chinese Authorities Crack Down on 54.8 Million USDT Money Laundering Scheme
Chinese authorities crack a major USDT-linked money laundering case, arresting 21 suspects and seizing over 1M yuan.
Circle Doubles Value to $9B with New Deal with Concord Acquisition Corp
Fintech company Circle Internet Financial has revamped its merger agreement with Concord Acquisition Corp (NYSE:CND) through a special purpose acquisition, doubling its valuation to $9B from the $4.5 billion initially announced in July 2021.
Bybit Launches Futures Contracts Settled in USDC Stablecoin
Bybit is one of the major crypto exchanges offering futures trading services globally. The exchange has launched a new trading service that settles options contracts in the stablecoin USDC.
Binance Integrates USD Coin (USDC) on CELO Network
Binance, one of the leading cryptocurrency exchanges, has successfully completed the integration of USD Coin (USDC) on the CELO network. As a result, users can now deposit and withdraw USDC on Binance's platform.
Velas 3.0 Is Coming: Here's What You Need to Know
Velas (VLX), a platform designed to address the scaling and usability challenges seen by other blockchains, is on the verge of releasing by far its largest update to date — with the impending launch of the Velas 3.0 ecosystem.
Argentinians Seek Shelter in Stablecoins after Economy Minister Resignation
Argentinians have taken refuge in stablecoins after the nation’s economy minister Martin Guzman resigned over the weekend attributed to the financial crisis crushing the South American country.
Circle's USDC Reserve Mishap Leads to Massive Sell-off
Circle's announcement that Silicon Valley Bank failed to transfer $3.3 billion of its USDC reserves led to a significant sell-off, causing the stablecoin to depeg from the U.S. dollar. Investors who tried to cut their losses by exchanging USDC for other stablecoins, such as USDT, faced exorbitant prices.
Tron DAO to Purchase 1 billion USDT to Combat Short Sellers
The Tron Dao reserve is now set to purchase 1 billion USDT to combat short sellers and bring the stablecoin USDT back to its normal price.
Jump Crypto Enters Confidential Phase in SEC vs. Terraform Labs Case
Jump Crypto has been granted access to confidential documents in the SEC vs. Terraform Labs case, allegedly implicating them in the TerraUSD devaluation and Terra's collapse.
Tether Tokens (USDt) Community and Utility Pushes Market Cap Over $20 Billion
Tether.to, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, has surpassed US$20 billion, driven purely by community and utility.
USDC on Crypto Exchanges Spike as Tether (USDT) Dominance Falters - What This Means
According to an assessment from Glassnode, the amount of stablecoins being deposited on exchanges is an indication that things are turning bullish for Bitcoin.
Circle Launches Circle Research with Perimeter Protocol
Circle launches 'Circle Research' to further technical innovation in crypto, blockchain, and Web3 through open-source research. The initiative's first contribution, Perimeter Protocol, sets a new standard for building on-chain credit markets. Circle releases the Perimeter white paper and public GitHub Repo to advance open protocol transacting with a focus on credit, catering to a wide range of credit scenarios.
Is USDC’s Value Posed to Surpass that of USDT This Year?
As the stablecoin arena gains steam, the supremacy battle between Tether (USDT) and USD Coin (USDC) continues to rage on.
TrueUSD Partners with Alchemy Pay to Facilitate Direct Crypto Purchases in 173 Countries
Alchemy Pay partners with TrueUSD to enable direct crypto purchases via fiat in 173 countries, enhancing accessibility and transparency in the crypto industry.
UAE's YallaMarket Now Accepts Crypto Payments
YallaMarket, a grocery delivery startup in the United Arab Emirates, has announced it has started accepting crypto payments for its services.
Coinsfera Enables Users to Trade USDT in UAE through OTC
Coinsfera, the global OTC digital asset trading platform, announced that it enables users to trade stablecoin USDT in Dubai.
Circle to Introduce Euro Coin and Cross-Chain Transfer Protocol to Solana in Early 2023
USD coin issuer and digital financial technology firm, Circle, is now set to expand its Euro Coin and its cross-chain transfer protocol to the Solana ecosystem in the first half of 2023.
"Buckle Up" For Bitcoin's Next Bull Run, Cameron Winklevoss Says
Gemini co-founder Cameron Winklevoss believes that the next Bitcoin bull run coming up will be "dramatically different,” due to the innovative financial resources that crypto investors have access to nowadays and to the current economic infrastructure.
Circle Plans to Cover USDC Shortfall After SVB Shutdown
Circle, the issuer of the stablecoin USD Coin (USDC), has announced that it will use corporate resources to cover the shortfall on its reserves after Silicon Valley Bank (SVB) was shut down by the California Department of Financial Protection and Innovation. USDC liquidity operations will resume as normal when banks open on Monday, enabling redemption at 1:1 with the US dollar. The stablecoin lost its $1 peg on March 11, trading as low as $0.87, due to the disclosure of $3.3 billion of Circle's reserve held at SVB.
$1 Million in USDT Refunded After DeFi Mistake
Tether CTO Paolo Ardoino announced last Friday, that a group of Chinese traders had mistakenly sent their funds to Swerve, a clone of Curve Finance.
Tether Q2 2023: $72.5 Billion in US Treasuries Exposure with Profits Over $1 Billion
Tether's Q2 2023 report reveals $72.5B in US Treasuries exposure and profits over $1B, affirming financial stability.
FTX Customer Claims Portal Update: How It Affects Derivative Positions and USD Balances
The recent updates to the FTX Customer Claims Portal aim to provide more clarity on derivative positions for customers. While these changes may affect the displayed USD balance, they do not impact the overall value of the claims. The valuation of derivative positions is based on FTX exchange pricing as of specific dates and times, with the final USD valuation to be determined later.
Stablecoin Reserves May Be Held in National Banks, US Treasury Office Provides Insight
The OCC announced that national banks and federal savings associations could hold reserves for customers with stablecoin assets.
Binance Launches AEVO on Launchpool
Binance introduces AEVO, a new decentralized derivatives exchange platform, on its Launchpool, allowing users to farm AEVO tokens by staking BNB and FDUSD.
Cryptocurrency Firms Deny Exposure to Troubled US Banks
Major cryptocurrency firms, including Tether, Crypto.com, Gemini, BitMEX, and others, have denied exposure to dissolved U.S. banks like Silicon Valley Bank and Signature Bank. The firms have taken to social media to assure their users that their funds are safe and accessible despite ongoing issues in the U.S. banking system.
Following OSC Prohibition, Crypto.com Delists USDT For Canadians
Effective January 31, Crypto.com will delist Tether (USDT) for Canadian customers. The exchange has warned users that their Tether would be automatically changed into USD Coin if they don't withdraw or convert before the deadline (USDC). Crypto.com reported in August that the Ontario Securities Commission has approved its Canadian pre-registration commitment.
NEAR Protocol to Wind Down Stablecoin USN, Allocating Funds for User Protection
The firm has announced plans to shut down the USN stablecoin to avoid greater risks.
Native USDC Integration on Base Blockchain
Circle plans to launch native USDC on Base blockchain, replacing bridged USDbC liquidity. The token will be fully reserved and redeemable for US dollars, enhancing scalability, transaction speeds, and reduced gas fees.
Tether Has Enough Reserve for its Issued Tokens, Audit Firm Says
Moore Cayman, an Independent Auditor has validated that Tether Holdings has enough reserve cash for its issued stablecoin of the USDT.
First Digital Group Launches New Stablecoin FDUSD to Revolutionize Global Finance
Asia's leading trust company and qualified custodian, First Digital, is making waves in the global financial ecosystem with the announcement of its new stablecoin, First Digital USD (FDUSD)
Binance, Circle, and Paxos Receive Regulatory Scrut
Stablecoin issuer Circle supplied the NYDFS blockchain evidence claiming Binance's reserves were inadequate to sustain its currency.
Circle Taps BNY Mellon to Serve as Custodian for USDC Stablecoin Reserves
The new partnership will mutually benefit Circle and Mellon Bank.
Circle Publishes Inuagural USDC Reserve Treasury Report for June
Co-Founder and CEO of Circle, Jeremy Allaire has announced the release of the company’s first monthly USDC reserve report for the month of June
Binance Enhances Trading Options with New Pairs and Bot Services
Binance boosts its trading services with new spot trading pairs and trading bot services, expanding options and enhancing user experience. This includes pairs like MOVR/TRY, LDO/FDUSD, and more, with a focus on FDUSD and Turkish Lira pairs.
Bank of America Says Binance to Benefit from Increased Supply of Its Own Stablecoin
BAC has given more clarification on how Binance’s automatic conversion of other stablecoins could impact its business as well as its own BUSD stablecoin.
Moody warns of stablecoin adoption risk
Moody's Investors Service has warned that the recent turmoil in the traditional banking sector and USDC losing its peg could negatively impact stablecoin adoption and increase calls for regulation. The credit rating agency believes that fiat-backed stablecoins like USDC could face new resistance, limiting their stability and potentially causing a run on banks holding Circle's assets, which could lead to the depegging of other stablecoins.
Stripe Launches USDC Payments via Polygon
Stripe has begun providing businesses with the ability to pay their customers in crypto through USDC stablecoin.
Tether's $1 Billion USDT Minting Stirs Debate: Inventory Replenishment or Market Manipulation?
Tether's recent billion-dollar minting for inventory replenishment has sparked debates on transparency, impact, and potential market influences, despite significant growth.
Binance to Convert Users’ USDC Into Its Own Stablecoin
Binance said the move aims to improve liquidity and capital efficiency for customers.
Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law
In a move to protect investors, Japan’s parliament has passed a bill classifying stablecoins as digital money that must be connected to the nation’s currency, yen, or another legal tender.
Binance Loans Adds AXS, PENDLE, PAXG, RNDR, and USDC to Flexible Rate Options
Binance adds Axie Infinity, PAX Gold, Pendle, Render, and USD Coin to its Flexible Rate Loans offerings, enhancing its financial services suite.
Circle Launches Corporate Account to Support USDC Transactions
Circle has launched a new account service that enables corporate customers to deposit, withdraw, receive and store cryptocurrencies through their account and allow them to settle all payments in USDC stablecoins.
OKX Discloses Monthly Proof of Reserves, Holding $10.4 Billion in BTC, ETH, and USDT
OKX, a global cryptocurrency exchange, has reported a $10.4 billion holding in primary assets like Bitcoin, Ethereum, and Tether, with 84% of respondents praising the exchange's transparency and reserve ratios.
$100 Million of Tether Swapped from Tron Network to Ethereum Blockchain
$100 million worth of Tether (USDT) has been transferred from the Tron network, a blockchain-based decentralized operating system, to the Ethereum blockchain.
OKX Liquid Marketplace Records Over USD1 Billion in Institutional Trading Volume in 2023
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced that its Liquid Marketplace, an on-demand liquidity network tailored for institutional traders, exceeded USD1 billion in trading volume in 2023.
BitMEX Co-Founder Proposes Bitcoin-Backed Stablecoin
Arthur Hayes, the co-founder and former CEO of BitMEX, has proposed creating a new stablecoin called the Satoshi Nakamoto Dollar (NUSD) or NakaDollar. Unlike major reserve-backed U.S. dollar-pegged stablecoins, the proposed NakaDollar would be pegged to the sum of $1 worth of Bitcoin and one inverse perpetual swap of BTC against USD, without relying on any USD reserves. The stablecoin's peg to the U.S. dollar would be maintained via mathematical transactions between the new decentralized autonomous organization (DAO) authorized participants and derivatives exchanges.
Tether's Blockchain Ecosystem Continues to Grow with USDT Launch on Bitcoin Cash Network
Tether’s USDT token, the world’s largest stablecoin by marketcap, has launched on the Bitcoin Cash network. USDT is also available on Algorand, EOS, Tron, Omni and the Liquid Network.
TrueUSD (TUSD) Strives to Resume Minting with Prime Trust
In recent updates, the TrueUSD (TUSD) team has announced that they are actively engaged in efforts to resume TUSD minting on Prime Trust. This announcement was made following an unexpected pause in TUSD minting via Prime Trust, an event that took place on June 10.
Allbridge Recovers $465,000 Stolen in Crypto Exploit
Allbridge has recovered $465,000 worth of cryptocurrency stolen in a recent exploit, after the attacker apparently took the project's offer for a white hat bounty and returned the funds. The stolen funds were converted to Binance USD and used as compensation. Allbridge had previously offered the attacker a chance to escape legal repercussions and receive a bounty for finding vulnerabilities. The project has yet to publicly disclose the total amount stolen but blockchain security firms estimate it to be close to $550,000.
USDC will integrate into Polkadot, NEAR, Base, Cosmos' Noble, and Optimism this September
Circle, the creator of USDC stablecoin, is expanding its reach to six new blockchain ecosystems, including Base, Cosmos via Noble, NEAR, Optimism, and Polkadot, solidifying its market leadership.
Tether Launches USDT Stablecoin on Near Network to Unlock New DeFi Products
Tether’s USDT, the world’s largest stablecoin by market cap, is now available on the Near Network proof-of-stake blockchain.
Boyaa Interactive Advances into Cryptocurrency with a $100 Million Acquisition Mandate
Boyaa Interactive plans to invest $100 million in cryptocurrencies, focusing on Bitcoin, Ether, and stablecoins, while ensuring secure platforms in the volatile crypto market.
Vader Shuts Down Stablecoin USDV
The Vader protocol was an algorithmic stablecoin network that was intended to be comparable to the Terra network, however it ultimately failed. In order to ensure that $1 is always equivalent to 1 USDV, it was intended to promote arbitrages. The next half a year was spent by the Vader team scouring the internet for information on how to improve the app's security. Instead, the authors of the app have built a redemption gateway so that users may access the remainder of the app's treasure.
MakerDAO Intends to Depeg DAI from USDC
Announcing through Discord, MakerDAO’s founder Rune Christensen revealed that the DeFi protocol might consider de-pegging its native token DAI from stablecoin USD Coin (USDC).
LUNA Do Kwon's Trial Postponement Request Amid Extradition Delays
Terraform Labs co-founder Do Kwon requests postponement of his U.S. trial, scheduled for January 29th, to mid-March due to extradition challenges in Montenegro. The SEC filed fraud charges against Kwon in February 2023, related to the collapse of TerraUSD and LUNA tokens.
Circle's 2024 USDC Economy Report Reveals Significant Growth in Stablecoin Adoption
Circle's 2024 report on the USDC economy highlights significant growth in stablecoin adoption and usage, with a 59% increase in USDC wallets and over $12 trillion settled in blockchain transactions since its inception.
BlockFi Suspends Withdrawals Following FTX Crisis
Crypto lender BlockFi announced on Twitter that they have suspended withdrawals and normal business operations due to the lack of clarity around the current status of FTX.
Only 1% of Bitcoin Holders Controls 27% of Total Circulating Supply, Study Shows
A new study shows that only about 10,000 Bitcoin (BTC) holders own as much as 5 million of the total 18.9 million BTC in circulation.
Tether CTO Paolo Ardoino Dispels USDT Market Fear Amidst Rising Deposits in Curve 3Pool
Paolo Ardoino, CTO of Tether and Bitfinex, has responded to growing fears in the crypto market with an assertive tweet stating, "Markets are edgy in these days, so it's easy for attackers to capitalize on this general sentiment. But at Tether we're ready as always. Let them come. We're ready to redeem any amount."
The Rise of Crypto is Not a Threat to the US Dollar, says Treasury Executive
Veteran US Treasury Deputy Secretary, Adewale “Wally” Adeyemo is unperturbed that the growth of digital currencies like Bitcoin (BTC) is a threat to the dominance of the US Dollar.
Crypto Donations to Exceed $10 Billion in a Decade
The Giving Block's annual report predicts that crypto donations will surpass $10 billion by November 2032, with USD Coin being the most popular cryptocurrency used in donations. Ethereum co-founder Vitalik Buterin holds the record for the largest crypto donation of the year, giving $9.4 million through his philanthropic fund.
HUSD Stablecoin Drops 56% From Dollar Peg Following Huobi Delisting
According to CoinMarketCap, HUSD stablecoin has fallen massively from its $1 peg, dropping to a low of $0.32 following delisting from crypto exchange Huobi on Friday last week.
Tether’s Market Cap Surges By $1 Billion in Just 9 Days to Hit $19 Billion
The market capitalization of leading stablecoin Tether (USDT) has been on a roller coaster ride after surging by $1 billion in a record 9 days to hit $19 billion.
Binance.US Struggles to Find a Bank Partner in the United States
Binance.US is facing challenges in securing a bank partner to serve as a fiat on-ramp and off-ramp for its clients in the United States. Recent regulatory crackdowns on banks with crypto clients, along with failed attempts to establish direct banking relationships, have left Binance.US without banking services.
USD Coin Chief Strategy Officer Twitter Account Hacked
Circle's USD Coin (USDC) stablecoin chief strategy officer Dante Disparte's Twitter account has been hacked, with the account reportedly promoting fake loyalty rewards to long-time users of USDC.
Alternatives of USDT Gained Wider Merchant Access including Microsoft
Currently, BitPay supports Bitcoin, Bitcoin Cash, and Ether Payments. As of recent, the blockchain payment processor will now accept Circle USD, Gemini Dollar, and Paxos Standard Token.
USDC issuer Circle releases accountant-verified report
Circle's newest reserve report shows $44.5 billion USDC stablecoin assets.
Kraken Announces PayPal USD (PYUSD) Trading Starting August 21
Kraken to integrate PayPal's stablecoin PYUSD from Aug 21. The move follows PayPal's PYUSD launch on Aug 7, bridging traditional finance with digital currency realms.
Bitfinex: The Crisis Tested Liquid Exchange King for Bitcoin and Ethereum Trading
During the March 12 stock market crash instigated by the coronavirus pandemic’s disruption to the world economy, cryptocurrency exchanges experienced a massive sell-off of Bitcoin and Ethereum. When the liquidation panic finally settled down, Bitfinex emerged as one of the few exchanges that had been able to take the extreme volatility in stride.
Tether Amplifies Cryptocurrency Presence in Georgia: Invests in Payment Processor CityPay.io
Tether Operations Limited (USDT issuer), the driving force behind the highly adopted stablecoin blockchain platform tether.to, has magnified its presence in Georgia's cryptocurrency landscape through a strategic investment in CityPay.io.
OKEx Launches USDT-Margined Futures Live Trading With Up To 100× Leverage
OKEx, the world's largest futures crypto exchange based in Malta, announced the launching of BTC/USDT margined trading on its futures platform with an enticing leverage rate of 0.01-100×. Following the fulfillment of their simulation which began on November 5, the margined futures trading was launched live on Nov. 14.
Tether Executives Placed Under Investigation Radar By US DOJ Over Bank Fraud
Tether Executives and the firm are up for probe by the US department of justice on accounts of bank fraud
Bit.com Rolls Out USD Perpetual Trading for Diversification Purposes
To eliminate overreliance on a single type of stablecoin, Seychelles-based crypto exchange @Bit.com has rolled out USD perpetual trading, starting with BTC/USD and ETH/USD pairs.
Alameda Research Minted Over $39 Billion USDT, Amounting to Nearly Half of Tether's Circulating Supply
Recent data analysis reveals that Alameda Research minted $39.55 billion USDT, nearly half of Tether's circulating supply. The findings underscore the significant role of major crypto trading firms in stablecoin operations, with a detailed examination of USDT's creation and redemption processes.
DTCC to Build Prototype Supporting US Digital Dollar in Clearing & Settlement Process
The prototype aims to examine the ability of US clearing and settlement infrastructure to support the US central bank digital currency using a DLT platform.
Binance to Delist LTC/BUSD and DOGE/BUSD Perpetual Contracts
Binance Futures has announced its decision to delist the LTCBUSD and DOGEBUSD Perpetual Contracts.
April 21: Essential Oil No More
Trading Crypto with Eugene is a series of daily commentary of market analysis and trading advice shared by Eugene Ng of Matrixport, a veteran trader with 10 years of experience in top-tier global investment banks. Hope you find it helpful.
Justin Sun Tweets Tron just Issued $1.3 Billion in Tether, Here's What it Means for Crypto
While the broader cryptocurrency market is still reeling from a multi-year bear market since 2017, stablecoins like Tether are seeing action. Billions of dollars in USDT have been issued since its launch and the addition of Tron-backed stablecoin issuance, coupled with the now-concluded Bitcoin halving, signals a volatile period ahead for crypto traders and investors.
Terra Resumes after Halting Blockchain Production to Prevent Governance Attacks
Terraform Labs, the company which supports the Terra ecosystem, briefly halted the Terra blockchain for two hours on Thursday after a dramatic slump in LUNA and UST, before restarting later.
Parachain Auction Winner Acala Commits $250M to Fuel aUSD stablecoin Adoption on Polkadot
Parachain auction winner the Acala Network has launched a $250 million fund to fuel the adoption of Acala USD (aUSD) as the dominant stablecoin for the Polkadot and Kusama ecosystem respectively.
Gemini's Weekly Update: PayPal Launches PYUSD Stablecoin, Coinbase Unveils Base Layer-2, and Aptos Announces Microsoft Partnership
PayPal launches PYUSD stablecoin; Coinbase unveils Base Layer-2; Aptos partners with Microsoft; July inflation below expectations at 3.2% and 4.7% yearly.
Binance Launches Ramadan Trading Fee Rebate Event with 50,000 FDUSD Pool
Binance celebrates Ramadan with a special event, offering 50,000 FDUSD in trading fee rebate vouchers for users completing set tasks.
UN Refugee Agency Secures $2.5m in Stablecoin Donation for Ukraine
As the war in Ukraine continues to bear its toll, the USA for UNHCR has received a donation of $2.5 million to support families that are most impacted by the ongoing crisis.
Binance pivots to stablecoins after SEC regulatory action
Binance, the largest cryptocurrency exchange by trading volume, has turned to alternative stablecoins such as TrueUSD (TUSD) and decentralized stablecoins, following a regulatory action against its native stablecoin, Binance USD (BUSD), by the US Securities and Exchange Commission (SEC). Binance was forced to seek alternatives after the New York Department of Financial Services (NYDFS) asked BUSD issuer Paxos Trust to stop minting new BUSD altogether.
eToro’s Crypto Exchange eToroX to List Elrond’s eGLD Token
eToro’s will list Elrond’s native cryptocurrency eGLD on its cryptocurrency exchange, eToroX. eToroX is one of the largest regulated and licensed crypto exchanges in the market, and the listing of eGLD will make the token available to trade against more than fifteen cryptocurrencies.
US House Committee to Discuss Stablecoins Regulation
The US House Committee on Financial Services will conduct a hearing on April 19 to evaluate stablecoins’ position as a means of payment and whether the payment ecosystem needs supporting legislation. Circle's chief strategy officer and head of global policy, Dante Disparte, will testify at the hearing, which will focus on various stablecoins and their use in the payments landscape. A draft bill providing a framework for stablecoins in the United States was recently published in the House of Representatives document repository.
Binance to Phase Out BUSD Support by February 2024 Amid Paxos Minting Halt
Binance will discontinue support for Binance USD (BUSD) by February 2024, affecting trading, futures, and loans. Users holding BUSD are advised to convert their assets to other stablecoins or digital assets on Binance, with a 1:1 conversion rate.
Breaking: PayPal Launches Stablecoin PYUSD
PayPal has launched a U.S. dollar stablecoin, PayPal USD (PYUSD), backed by U.S. dollar deposits and Treasuries.
Binance Launches Reward Campaign for Bitcoin Halving
Binance announces a 13,000 FDUSD reward pool to incentivize Bitcoin purchases via its "Buy Crypto" feature, aligning with the Bitcoin Halving event.
Taiwanese Authorities Caution Against Crypto Betting for 2024 Presidential Election
Taiwanese authorities warn against using cryptocurrency betting platforms for the January 2024 presidential election, amid ongoing investigations and multiple arrests.
US Crypto Crackdown Hurts USD Coin
Circle CEO Jeremy Allaire has blamed the declining market capitalization of USD Coin (USDC) on the cryptocurrency crackdown by US regulators. Allaire cited global concern about the US banking system and regulatory environment as major factors.
USDT Tokens Now Live on the Polkadot Network
Tether Limited recently expanded its reach across various blockchain platforms by launching its stablecoin (USDT) on the Polkadot network
Heath Tarbert Joins Circle as Chief Legal Officer and Head of Corporate Affairs
Circle Internet Financial has appointed Heath Tarbert as its new chief legal officer and head of corporate affairs, effective from July 1, 2023.
Prime Core Faces $8M Loss Amid TerraUSD's Collapse
Prime Core Technologies, parent of Prime Trust, experienced an $8 million financial setback due to investments in TerraUSD, a stablecoin, leading to bankruptcy proceedings in August 2023, highlighting the cryptocurrency market's volatility.
US Government Plans to Use USDC Stablecoin to Offer Foreign Aid in Venezuela
U.S government has tapped Circle’s USDC stablecoin to offer foreign aid in Venezuela through President-elect Juan Guaidó exiled government.
Bitfinex and Tether Face Market Manipulation Class Action Lawsuit
Roche Freedman, New York-based legal firm, filed a class-action lawsuit on behalf of those who own cryptocurrency against Bitfinex and Tether and others for crypto market manipulation and creating the largest bubble in history.
SEC Ties Terraform Ruling to Binance in Securities Violations and Deceptive Practice Case
SEC links Terraform Labs ruling to Binance case, alleging unregistered securities offerings and deceptive practices in crypto trading.
Ethereum Foundation's 1.7K ETH Sale Signals Potential Price Downturn
The Ethereum Foundation's sale of 1,700 ETH, coupled with pessimistic views from a crypto trading KOL and Mike Alfred, has fueled concerns about Ethereum's financial outlook. These developments may signal a potential downturn in ETH prices.
Circle Launches Programmable Wallets for Developers
Circle has launched Programmable Wallets, a service allowing developers to embed crypto wallets in apps. The blockchain-agnostic tool supports Ethereum, Polygon, and Avalanche.
Circle Has Started Building New Reserve Funds With BlackRock
Circle is building a new reserve with BlackRock for USDC
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.
Tether Unveils Recovery Tool for Enhanced Blockchain Stability and User Asset Protection
Tether introduces a robust blockchain recovery plan to secure USDT tokens and ensure uninterrupted access across multiple blockchains.
Circle Spokesperson Denies Blaming SEC for Failed $9 billion deal
Circle denies blaming the SEC for its December $9 billion failed IPO. Circle's representative said any contradictory assertions are "inconsistent" with past declarations.
Binance.US to Remove Certain Trading Pairs and Pause OTC Trading
Binance.US announced today that it will be making significant changes to its trading structure. The changes, set to take place on June 8, 2023 at 9 a.m. PDT / 12 p.m. EDT, will involve the removal of select Advanced Trading pairs and a pause on their Over-The-Counter (OTC) Trading Portal.
Curve Founder Proposes Venus Protocol Deployment on Ethereum Mainnet
Michael Egorov of Curve Finance proposes launching Venus Protocol on Ethereum Mainnet, incorporating Curve's stablecoin crvUSD and CRV as collaterals, with community support for growth.
Binance converts remaining $1 billion in Industry Recovery Initiative to native crypto amidst concerns around stablecoins
Binance co-founder and CEO, Changpeng Zhao, announced on March 13 that the exchange will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto amid concerns surrounding stablecoins. This decision was made following the depegging of the USD Coin (USDC) stablecoin caused by the failure of three major crypto-friendly banks - Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank.
VanEck Spearheads Entry into Stablecoin Market with Agora's AUSD Launch
Agora, backed by VanEck, announces the launch of AUSD, a USD-backed stablecoin, following a successful $12 million funding round led by Dragonfly.
Uniswap Labs Announces Bug Bounty Program with Rewards Up to 2.25 Million USDC
Uniswap Labs has launched a Bug Bounty Program to encourage ethical hackers and security researchers to report vulnerabilities in its contracts. Successful disclosures can earn rewards of up to 2,250,000 USDC, targeting Universal Router Contract Code, Permit2 Contract Code, V3 Contract Code, and UniswapX Contract Code.
Checkout.Com Starts Accepting Stablecoins Payment, Providing 24/7 Settlement
Checkout.com has launched offering stablecoins as a payment option for its merchants by using Fireblocks’ new crypto payment technology.
Binance Replaces BUSD with TUSD and USDT in SAFU Fund
Cryptocurrency exchange Binance has replaced its Binance USD (BUSD) holdings in its Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT) in response to Paxos' move to stop minting new BUSD. SAFU is an emergency insurance fund established by Binance to protect users' funds in case of security breaches or other unforeseen events.
Bitcoin Needs to Overcome One Key Factor Before Its Price Run to $20K
Market experts are saying that if Bitcoin clears one key resistance level, it may reach $20K with less obstacles along the way.
Mastercard Enables USDC Spending in Asia
Mastercard has partnered with Stables to allow retail customers in the Asia-Pacific region to spend and save USDC through its network. Meanwhile, worldwide banking turmoil has not slowed the blending of traditional and decentralized finance (DeFi). Global payment provider Mastercard has expanded its partnership with the Australian stablecoin platform, Stables, to enable retail customers in the Asia-Pacific region to spend and save USDC anywhere Mastercard is accepted. The wallet will accept deposits in several stablecoins, including Tether (USDT) and Binance USD (BUSD), with all deposits automatically converted into USDC. This move comes as worldwide banking turmoil and regulatory crackdowns continue to impact the crypto space.
Tether Regains $1 Peg
Tether (USDT) has regained its 1-to-1 peg with the dollar after briefly dropping to 94.55 cents, its lowest since December 2020.
OKX Announces Largest-Ever Trading Competition with 2M USDT and Tesla Model 3 as Prizes
OKX has launched its most ambitious trading competition yet, with a prize pool exceeding 2 million USDT and a Tesla Model 3. The team-based competition focuses on USDT perpetual contracts and requires holding at least 100 USDT in assets.
Tether becomes First Stablecoin to be Integrated into Algorand 2.0 Blockchain
Tether, a reputable stablecoin provider, has incorporated its U.S. dollar-backed stablecoin USDT into Algorand’s blockchain ecosystem. Tether’s presence on Algorand will facilitate block confirmation in less than four seconds and transaction fees will be a fraction of a cent.
Binance Launches VIP Margin Trading Promo with USDT and Apple Vision Pro Rewards
Binance introduces a VIP Margin Trading Promotion offering up to 5,000 USDT, an Apple Vision Pro, and exclusive event invites for increasing trade volume.
South Korea Launches “Emergency” Inspection of Crypto Exchanges Following Terra Crash
To boost investor protection following the recent collapse of LUNA and TerraUSD (UST) tokens, financial authorities in South Korea have beefed up crypto exchange inspections.
TrueUSD's TUSD Circulating Supply Surpasses $3 Billion Despite Prime Trust's Challenges
In June 2023, TrueUSD (TUSD) experienced significant growth and adoption across multiple blockchain ecosystems. With the circulating supply reaching 3,059,838,623 TUSD, backed by dollar reserves of over $3 billion, the stablecoin is gaining more recognition in the crypto markets.
Circle Formally Refutes Allegations of Illicit Financing and Connections to Justin Sun
Circle denies CfA's allegations of illicit financing and Justin Sun ties, emphasizing regulatory compliance and advocating for stronger stablecoin laws, as clarified by Dante Disparte.
Tether Launches USDT on Kava Blockchain
Tether Operations Limited (Tether), the company behind the renowned blockchain-powered platform tether.to and the world's leading stablecoin, has revealed its plans to introduce U.S. dollar-pegged Tether tokens ("USDT") on Kava. Kava is a layer-1 blockchain specifically designed to offer scalability and high speed.
Fantom (FTM) Andre Cronje Raises Alarm Over Ethena's USDe Stablecoin Risks
Fantom founder Andre Cronje voices apprehension about USDe stablecoin's sustainability, invoking fears of a Terra-like collapse.
Global Currency Organization Launches New USD Stablecoin USDD
The Global Currency Organization (GCO) has launched a new USDD token, a US dollar-backed stablecoin, intended for revenue sharing in institutions.
Gamers Invest Just Over 1 Million USD In Blockchain for Virtual Real Estate
Investing in real estate is what many call a sound investment, however, does this also apply to virtual seaside views and luxury apartments in the gaming worlds as well?
Blockchain-Based Invoices Reached $1 Billion USD in China with 10 Million Invoices
Shenzhen’s pilot blockchain technology invoice system has reached a new milestone. The program known as ‘fapiao’ which allows the Chinese government to track purchases and prevent tax evasion, has just issued its 10 millionth invoice.
Over $3 Trillion USD Subscribed, Largest IPO Ant Group Blowout is Ready
On Oct. 30, Ant Group and China's Shanghai Stock Exchange announced that the subscription amount for Ant Group's IPO now exceeds 19.05 trillion RMB ($3 trillion US dollars).
7 Steps in Luno: How to Convert Your USD to Nigerian Naira Using Bitcoin
This newly found interest also explains the recent increase in the number of exchange platforms that have been springing up to meet this growing demand for liquidity within this space. Some platforms where Nigerians can receive funds in dollars or Bitcoin and convert to Naira has been seen as a way out of the too many constraints fiat presents.
British Virgin Islands Aims to Rollout a New USD-Backed Digital Currency
The government of the British Virgin Islands, in partnership with LIFElabs.io, aims to develop a digital currency that will be peeled at the ratio of 1:1 against the United States dollar to be used with the territory.
Morgan Stanley Buys E*Trade for 13 Billion USD, Providing Link For Everyday Online Traders
Wall Street giant Morgan Stanley is creating more access for everyday investors with the announcement of an imminent $13 billion acquisition of online trading firm E*Trade Financial Group.
XRP, Binance Coin, Dogecoin, and USD Coin Added to Pornhub’s Crypto Payment Options, Will This Pump XRP?
Pornhub has added new cryptocurrency options to its list of accepted payments, while removing other ones.
Kraken CEO: Drive behind Bitcoin and Tech Stock Adoption in 2020 Linked to Risk of Holding USD
Much like other leaders in the crypto industry, Kraken CEO and co-founder Jesse Powell believes that Bitcoin is a key investment and will continue to be one.
Crypto Tax Payments Permitted in Bermuda
Bermuda has started accepting tax payments using Circle's stablecoin known as USD Coin (USDC).