Trader takes $4m short position on TrueUSD as issuer halts mints and redemptions
An Ethereum user used Aave’s V2 lending platform by depositing 7.5 million USDC as collateral. Go to Source Powered by WPeMatico
Stablecoin
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TrueUSD assures users it has no exposure to troubled Prime Trust
Stablecoin issuer TrueUSD maintains that it is not affected by the current challenges facing Prime Trust. Go to Source Powered by WPeMatico
BUSD falls to fourth position among stablecoins
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins. Go to Source Powered by WPeMatico
Curve pool imbalance triggers USDT depeg concerns: Finance Redefined
The top 100 DeFi tokens had another bearish week, with the majority of tokens trading in the red. Go to Source Powered by WPeMatico
Curve pool imbalance triggers USDT depeg concerns, Tether CTO calls it FUD
The stablecoin pool ideally has a weightage of 33.3% of each USDT, USDC and DAI, however, on June 15, the USDT weightage rose above 70% in the pool. Go to Source Powered by WPeMatico
Hong Kong and the US aim for stablecoin regulations by 2024
The U.S. is another country currently working on stablecoin market regulations having introduced three drafts of the bill until June first week. Go to Source Powered by WPeMatico
Tether CTO clarifies $1B USDT mint on Ethereum is for chain swaps
This was Tether’s second $1 billion mint in two months, bringing the total USDT minted by the stablecoin issuer in 2023 to over $16 billion. Go to Source Powered by WPeMatico
TrueUSD stops minting via Prime Trust, loses dollar peg
The recent depeg comes as TrueUSD team announced a pause on TUSD minting through Prime Trust until further notice. Go to Source Powered by WPeMatico
US House Committee releases new stablecoin bill draft
The draft bill is set to go before the House Committee for discussion on June 13, and if approved by the House and the Senate, it could become the first form of crypto legislation in the U.S. Go to Source Powered by WPeMatico
Circle is latest recipient of Major Payment Institution license in Singapore
The stablecoin issuer is the second crypto company to receive Singapore’s MPI license this month, following Crypto.com. Go to Source Powered by WPeMatico