LIQUIDITY
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.
SushiSwap CEO Proposes New Token Model
SushiSwap's CEO, Jared Grey, is leading a community proposal to revamp the platform's tokenomics, aiming to improve reward efficiency, recalibrate incentives, and diversify revenue streams.
Japan's JCBA Submits Initial Proposal for IEO Regulatory Reform to JVCEA
JCBA submits an initial proposal for IEO regulatory reform to JVCEA, outlining four key agendas aimed at stabilizing the IEO market and enhancing user protection. The reform aims to make domestic IEOs more attractive than foreign exchanges.
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.
HashKey Launches Wealth Management Platform for Institutional Investors
HashKey Group has launched a wealth management platform for professional and institutional investors in response to growing demand for virtual assets. The Hong Kong-based digital asset firm is expanding its over-the-counter trading service and increasing its liquidity coverage to 24/7.
Bitcoin Liquidity Drops Despite Price Surge
Despite a 45% price gain, Bitcoin's liquidity has dropped to a 10-month low due to the ongoing financial crisis and regulatory actions against crypto companies. The collapse of crypto-friendly banks has led to a liquidity crisis, causing increased price volatility and higher fees for traders.
Institutional Investors Seek Tokenization Solutions
Institutional investors are seeking solutions for easy implementation of tokenization to improve liquidity for global assets expected to reach $145.4 trillion by 2025. Polygon has been working with global players such as Hamilton Lane, which has already tokenized part of its $824 billion assets under management, and JPMorgan, which executed its first cross-border DeFi transaction on the Polygon network.
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.
POSA Publishes Two White Papers
The nonprofit cryptocurrency industry group Proof of Stake Alliance (POSA) has produced papers on receipt token legality.
Digital Currency Group Suspends Payouts To Maintain Liquidity
Digital Currency Group (DCG) has suspended quarterly dividend payments. Genesis Global Trading, a crypto broker company, causes financial troubles. Genesis stopped withdrawals on Nov 16.
