Algorithmic stablecoins – DIGIT INFO

New Stablecoin Bill Faces Criticism for Stifling Innovation and Breaching First Amendment

DIGIT — Sat, 20 Apr 2024 21:25:18 +0000

A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all “algorithmic payment stablecoins,” which could have significant implications for software developers and the broader tech community. Lummis-Gillibrand Stablecoin Bill Criticized […]

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Binance mints 50M TrueUSD days after Paxos ordered stop issuing BUSD

DIGIT — Fri, 17 Feb 2023 02:22:59 +0000

Despite the minting of $50 million in TUSD, Zhao previously said the regulatory crackdown on stablecoins in the U.S. will cause the USD-back stablecoin market to “shrink.”

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Draft US stablecoin bill would ban new algo stablecoins for 2 years

DIGIT — Wed, 21 Sep 2022 01:40:08 +0000

It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price.

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Solana-based stablecoin NIRV drops 85% following $3.5M exploit

DIGIT — Fri, 29 Jul 2022 05:05:53 +0000

The $3.5 million flash loan attack Solana-based Nirvana Finance saw the price of its stablecoin NIRV and native token ANA fall around 85% apiece.

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Pain ahead for algorithmic and non-cash backed stablecoins: IMF director

DIGIT — Thu, 28 Jul 2022 02:09:19 +0000

IMF Director Tobias Adrian believes uncollateralized and algorithmically-stabilized stablecoins pose too great a threat to holders and may experience further sell-offs.

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Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year

DIGIT — Mon, 16 May 2022 18:00:09 +0000

Just recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end of the year. Currently, LUNA is worth far less than a U.S. penny and while […]

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Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD

DIGIT — Sun, 15 May 2022 22:30:26 +0000

Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster the project’s reserves. In addition to the tron purchases, […]

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Defi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors

DIGIT — Wed, 13 Oct 2021 19:30:53 +0000

On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled […]

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Finance Redefined: The curious implications of algorithmic stablecoins, Dec. 2–9

DIGIT — Thu, 10 Dec 2020 16:04:40 +0000

Some stablecoins are more useful than others.

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