stablecoin assets – DIGIT INFO

Stablecoin Supply Shift: TUSD Jumps 110% While Others Experience Reductions

DIGIT — Thu, 30 Mar 2023 17:30:29 +0000

Four stablecoins have reduced their supplies this month, while the stablecoin token TrueUSD (TUSD) has seen its supply jump 110% higher over the last 30 days. TUSD resides natively on four different blockchains. The number of Ethereum-based TUSD rose 27%, while the number of Tron-based TUSD stablecoins increased by 218%. TUSD Supply Swells, Tron-Issued Stablecoins […]

Go to Source

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 […]

Go to Source

BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance

DIGIT — Sat, 25 Feb 2023 19:00:53 +0000

After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with a market cap of around $11.12 billion, compared to the meme […]

Go to Source

Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 30 Days

DIGIT — Fri, 10 Feb 2023 15:00:51 +0000

It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time […]

Go to Source

More Than $19 Billion in BTC, ETH, Stablecoins Left Exchanges Since the Onset of FTX’s Collapse

DIGIT — Tue, 27 Dec 2022 12:30:26 +0000

For more than 50 days or since Nov. 5, 2022, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges. Between Nov. 5 to Dec. 26, roughly 356,848 bitcoin and 4.48 million ether were withdrawn from a myriad of crypto trading platforms worldwide. $6 Billion in Bitcoin, Over $5 Billion […]

Go to Source

Circle Starts Moving USDC Reserves Into a Blackrock-Managed Fund, Firm Expects to Be ‘Fully Transitioned’ Next Year

DIGIT — Sun, 06 Nov 2022 18:30:05 +0000

According to the crypto firm Circle Internet Financial, the company is “deepening” its partnership with the world’s largest asset manager Blackrock. Circle disclosed that it has started to transfer USDC reserves into a Blackrock-managed fund that’s registered with the U.S. Securities and Exchange Commission (SEC). Circle Deepens Relationship With the World’s Largest Asset Manager Blackrock […]

Go to Source

Stablecoin Issuer Tether Fulfills Promise by Reducing Commercial Paper Holdings Down to Zero

DIGIT — Thu, 13 Oct 2022 22:30:52 +0000

On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company’s commercial paper holdings down to zero. The company has said it would reach this goal for a while now, and Tether says that shrinking commercial paper holdings down to zero “demonstrates Tether’s commitment to backing its tokens with the […]

Go to Source

Tether CTO Says US Treasury Notes Account for More Than 58% of USDT’s Reserves

DIGIT — Mon, 03 Oct 2022 20:30:35 +0000

On Monday, the chief technology officer of Tether Holdings Limited, Paolo Ardoino, explained that U.S. Treasury bills represent more than 58% of the company’s reserves. The announcement follows Tether hiring the accounting firm BDO Italia and the stablecoin issuer’s quarterly attestation, which had shown a decrease in commercial paper holdings. Tether’s Commercial Paper Holdings Shrank […]

Go to Source

Tether Hires BDO Italia for Monthly Assurance Reports, USDT’s Quarterly Attestation Shows a 58% Decrease in Commercial Paper

DIGIT — Sat, 20 Aug 2022 18:30:58 +0000

This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin issuer’s reserves. The following day, Tether published its quarterly assurance opinion completed […]

Go to Source

Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries

DIGIT — Mon, 16 May 2022 14:00:35 +0000

On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most transparent and trusted dollar digital currency.” Terra’s Stablecoin De-Pegging Incident Has Cast a Spotlight on […]

Go to Source