Stability – DIGIT INFO

US Banking Regulator Calls for Stronger Oversight of Crypto Risks

DIGIT — Thu, 05 Sep 2024 05:30:52 +0000

Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks. […]

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Bitcoin’s New Normal: Prices Over Five-Digits for 28% of Its Lifetime

DIGIT — Mon, 17 Jun 2024 15:35:44 +0000

Over the past week, bitcoin has declined by 4% against the U.S. dollar from June 9 to June 16, 2024, yet it has surged over 152% in the past year. This year, bitcoin has maintained a position above the $60,000 mark for a record-setting 107 days so far. Bitcoin’s Resilient Streak: Maintaining Highs Amid Market […]

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Ethereum Patch Set to Fix Transaction Finality Challenges After Second Bout Disrupts Network

DIGIT — Sat, 13 May 2023 20:49:58 +0000

On Friday, Ethereum’s Beacon chain encountered yet another bout of transaction finality challenges, reminiscent of the glitch experienced on May 11, 2023. For over an hour, the blockchain stopped the process of finalizing blocks. However, Superphiz, an Ethereum developer, emphasized that despite this setback, “No transactions were halted” and the incident had “zero impact on […]

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Economist and Political Scientist Refute Claims of US Dollar’s Demise Despite Trend of De-Dollarization News

DIGIT — Mon, 17 Apr 2023 22:35:04 +0000

This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted that claims of the U.S. dollar dying are overblown. In addition to Bremmer’s comments, […]

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Dear Ripple, Don’t Settle: Embrace the Opportunity to Shape Crypto’s Future

DIGIT — Wed, 05 Apr 2023 11:30:23 +0000

As Ripple and the U.S. Securities and Exchange Commission (SEC) persist in their legal dispute over XRP’s classification as a security, the consequences for both parties and the wider cryptocurrency market cannot be understated. This case offers a unique opportunity to attain much-needed regulatory clarity, which could ultimately promote growth and stability throughout the sector. […]

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Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis

DIGIT — Mon, 27 Mar 2023 18:30:08 +0000

After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth […]

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Multichain Wallet Bitkeep Raises $30 Million From Bitget to Strengthen Links Between Defi and Cefi

DIGIT — Thu, 23 Mar 2023 11:15:04 +0000

On Wednesday, the multichain wallet Bitkeep announced it raised $30 million from the crypto derivatives platform Bitget. Bitkeep now has an overall valuation of $300 million, with goals aimed at strengthening the links between decentralized finance (defi) and centralized finance (cefi). Bitget Invests $30 Million in Bitkeep; Wallet Firm Is Now Valued at $300M Crypto […]

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USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement

DIGIT — Mon, 13 Mar 2023 02:30:26 +0000

The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California’s Silicon Valley Bank (SVB) and New York’s Signature Bank. […]

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Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

DIGIT — Sat, 11 Mar 2023 18:30:16 +0000

On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project’s stablecoin, DAI. Makerdao Proposes Changes to Limit Exposure […]

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Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments

DIGIT — Tue, 14 Feb 2023 14:00:51 +0000

While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top five stablecoins by market valuation that has seen a supply increase in the past three months. […]

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