MakerDAO community votes against CoinShares’ 500M investment proposal
About 72.43% of the community votes went against CoinShares’ proposal to invest MakerDAO’s funds into various traditional assets Go to Source Powered by WPeMatico
Stablecoin
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Tokenized government bonds free up liquidity in traditional financial systems
There are a number of benefits associated with tokenized government bonds, yet adoption may take time. Go to Source Powered by WPeMatico
Stablecoin Economy Continues to Shrink Shedding Close to 5% in 2 Months
During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether’s market cap slipped from … Read more
Tether vs. USD Coin on-chain data reveals two very different stablecoins
The market cap of Tether dropped amid the FTX fiasco while USD Coin supply increased by $2 billion. Go to Source Powered by WPeMatico
Crypto and fiat savers are making a fatal error — and DeFi can come to the rescue
Across crypto and fiat, many consumers are making a fatal error: they’re letting their assets sit idle in accounts without earning interest. Go to Source Powered by WPeMatico
Hong Kong believes stablecoin volatility can spillover to traditional finance
According to Hong Kong’s central bank, the interconnection of crypto assets has made the crypto ecosystem more vulnerable to systematic shocks. Go to Source Powered by WPeMatico
Cardano to launch new algorithmic stablecoin in 2023
‘Djed’ is set to go live in Jan. 2023, after a successful audit and a series of rigorous stress tests Go to Source Powered by WPeMatico
Binance, OKX and Bybit suspend USDT and USDC deposits on Solana
The Solana cryptocurrency continues crashing amid the FTX crisis, plummeting 7% on the news of exchanges halting deposits in Solana-based stablecoins. Go to Source Powered by WPeMatico
Nigerian Web3 Startup Says Funds Are Stuck With FTX, Lays Off Employees
Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows the company to focus on building a more decentralized crypto future. Using FTX as Custodian … Read more
Tether says it has no exposure to Genesis Global or Gemini Earn
The stablecoin operator said the reliability of its reserves is important to highlight “at a time like this.” Tether has historically had issues with transparency. Go to Source Powered by WPeMatico