MakerDAO community votes to approve custody of $1.6B USDC with Coinbase
The MakerDAO community will earn a 1.5% reward on its USDC while holding funds with Coinbase Prime. Go to Source Powered by WPeMatico
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Near Foundation sets up $40M fund to bail out USN investors in case of collapse
The program was launched after Decentral Bank, the issuer of NEAR-native stablecoin USN, raised concerns about the stablecoin depegging due to algorithmic failure. Go to Source Powered by WPeMatico
Wealthy crypto believer and incoming UK PM Rishi Sunak once commissioned a royal NFT
The new leader of the world’s sixth-largest economy is the former chancellor of the exchequer and is said to be richer than King Charles; he is also a firm crypto supporter. Go to Source Powered by WPeMatico
Fireblocks launches crypto payment engine with Checkout.com and Worldpay as pilot partners
Checkout.com settled $1 billion in stablecoin transactions during its initial pilot phase of Payments Engine. Go to Source Powered by WPeMatico
Hong Kong Presents Digital Currency Prototype, Project Aurum
Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation … Read more
Acting US FDIC head cautiously optimistic about permissioned stablecoins for payments
Acting Federal Deposit Insurance Corporation chairman Martin Gruenberg said the agency needs more information about crypto, and the crypto industry needs to understand the FDIC better. Go to Source Powered by WPeMatico
USDC’s Market Cap Sheds Close to $4 Billion in Less Than 20 Days, Binance’s BUSD Climbs 3%
19 days ago, usd coin (USDC), the second largest stablecoin by market capitalization, had an overall valuation of around $48.82 billion and since then, it has continued to deflate down to today’s $44.93 billion. Statistics show that during the last three months, USDC’s market valuation has dropped by more than 19%, shedding approximately $10.59 billion. … Read more
Fed governor Waller says US CBDC would not enhance things the world loves about US fiat
The U.S. and the world benefit from the primacy of the U.S. dollar in the world economy, but it is stablecoin, not a CBDC, that will enhance the fiat’s place, according to Waller. Go to Source Powered by WPeMatico
Rep. McHenry gives progress report on stablecoin legislation, says it’s an ‘ugly baby’
The ranking member of the House Financial Services Committee praised the bipartisanship behind the coming bill, but says there are “complex conversations” ahead. Go to Source Powered by WPeMatico
Tether reduces commercial paper exposure to zero, replaces investments with T-Bills
The USDT issuer has faced criticisms for its exposure to commercial paper and, specifically, its alleged holdings of Chinese commercial paper. Go to Source Powered by WPeMatico