Albright Capital drops lawsuit against Terraform Labs and Do Kwon
Terraform Labs is the founder of US Dollar Terra (UST), an algorithmic stablecoin that lost its peg in May 2022. Go to Source Powered by WPeMatico
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Cosmos EUR stablecoin project to unwind after 2 years
“The lack of real-world applications for blockchain has led to low demand for non-USD stablecoins,” e-Money wrote. Go to Source Powered by WPeMatico
Nigeria to create the stablecoins and ICOs legal framework
The necessity to create a legal framework for stablecoins is marked in the latest Central Bank of Nigeria strategy paper. Go to Source Powered by WPeMatico
BUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues
According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion, going from $21.84 billion to its current level of $16.77 billion. Stablecoin … Read more
Hong Kong lawmaker wants to turn CBDC into stablecoin featuring DeFi
A Hong Kong official believes that a government-backed stablecoin would serve as a better entry point to Web3 compared to private stablecoins. Go to Source Powered by WPeMatico
Judge rules Celsius owns funds in Earn accounts, paving the way for stablecoin sale
Judge Martin Glenn found the terms of use for the Earn program “unambiguous,” and besides that, treating account holders as unsecured creditors was more equitable. Go to Source Powered by WPeMatico
Vader will shut down stablecoin USDV, cannot find a ‘breakthrough’
The remaining treasury will be distributed to users through a redemption app until June 2023, according to the protocol. Go to Source Powered by WPeMatico
Bank of India report calls for regulatory coordination on crypto market challenges
The RBI’s latest financial stability report accentuated the negative about cryptocurrency and reminds the world that India is looking for global action on crypto regulation. Go to Source Powered by WPeMatico
The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg
2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23 days as BUSD shed roughly 23.3% during the last month. Over $3 Billion in … Read more
Japan to lift the ban on foreign stablecoins like USDT in 2023: Report
None of the 31 crypto exchanges registered with Japan’s Financial Services Agency are currently offering trading in stablecoins like USDT or USDC. Go to Source Powered by WPeMatico