USDT market share jumps amid economic uncertainty, USDC shrinks
Over the past year, Circle’s USD Coin has seen its market share decline from 34.88% to 23.05%. Tether’s USDT shows a contrasting picture. Go to Source Powered by WPeMatico
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Stargate community proposes removal of Fantom USDC pool to mitigate risks
So far, a total of 1.7 million verified members of the Stargate community have voted in favor of the proposal. Go to Source Powered by WPeMatico
EU watchdog warns about the risk of a bank run on stablecoins
The European Systemic Risk Board suggests more disclosures, more monitoring to fight the risks of the crypto market. Go to Source Powered by WPeMatico
Crypto should mimic TradFi rules: Global securities regulator IOSCO
According to the U.S. SEC, IOSCO members together regulate more than 95% of the world’s securities markets. Go to Source Powered by WPeMatico
US House stablecoin hearing focuses on competing bills for regulation
The answer to the question of what level stablecoin issuers are regulated on “need not be binary,” one witness said. Go to Source Powered by WPeMatico
Stablecoin Issuer Tether Reveals Plan to Allocate Profits Into Bitcoin
Tether, the stablecoin enterprise, has revealed its intention to devote 15% of its profits to bitcoin. The firm’s announcement comes on the heels of Tether’s recent attestation report, which emphasized the company’s possession of bitcoin reserves worth $1.5 billion. Tether’s Strategic Shift: Profits to Fuel Bitcoin Acquisition Tether, the company behind the crypto economy’s largest … Read more
Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions
Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of $82.84 billion, tether is a mere $433 million shy of reaching its all-time high (ATH) set on May 8, 2022. Stablecoin … Read more
Jump Trading faces lawsuit over alleged $1.3B profit from TerraUSD
Jump Trading and its CEO Kanav Kariya are accused of violating United States regulations and unjust enrichment in the lawsuit. Go to Source Powered by WPeMatico
Do Kwon to Be Released on €400,000 Bail, Pleads Not Guilty in Montenegro
Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty. Court Grants Bail Request for Do Kwon, Puts Him Under … Read more
Binance calls it quits in Canada, blames new rules
Binance is the latest in a string of departures from CEO Changpeng Zhao’s home country; it promises to keep working with regulators. Go to Source Powered by WPeMatico