Tether fortifies its reserves: Will it silence critics, mollify investors?
USDT is under attack from short sellers. Would they go away if only the company hired a Big Four accounting firm to audit its balance sheet? Go to Source Powered by WPeMatico
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Terra crash highlights stablecoin risk to financial stability: ECB
A recent ECB report says stablecoins are not practical as a mode of payment and their current form isn’t fit for use in the real economy. Go to Source Powered by WPeMatico
Crypto Exchange Bitso Launches Remittance Service in Colombia
Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service in Mexico last year in partnership with Circle. Bitso Expand Remittances Program to … Read more
Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With No Losses’ to the Company
On July 8, 2022, the company behind the largest stablecoin in the world, Tether, revealed that the firm liquidated a loan made to the crypto lender Celsius, and the liquidation caused “no losses to Tether.” According to the stablecoin issuer, the bitcoin loan to Celsius was “overcollateralized” by roughly “130%+.” Tether Liquidates Bitcoin Loan Taken … Read more
Fed vice chair Brainard urges faster crypto regulation, touts role for stablecoin
Brainard says if crypto remains unregulated as it is integrated into the larger financial system, it will bring risks of instability of the type currently being seen. Go to Source Powered by WPeMatico
Tether liquidates Celsius position with ‘no losses’ to stablecoin issuer
The stablecoin issuer has once again explained that its investment in Celsius has no impact on its USDT reserves. Go to Source Powered by WPeMatico
EU-regulated firm Banking Circle adopts USDC stablecoin
Banking Circle was launched in 2016 with a mission to help payments businesses reach new global markets, avoiding the burdens of traditional banking. Go to Source Powered by WPeMatico
Crypto owners banned from working on US Government crypto policies
A new legal advisory notice from the US Office of Government Ethics prohibits any employee who owns cryptocurrency from working on Federal crypto regulation. Go to Source Powered by WPeMatico
Circle looks to reaffirm commitment to transparency as USDC market share soars
“With USDC, our business model is minimizing risk, not taking and managing risk,” wrote Jeremy Fox, Circle’s CTO. Go to Source Powered by WPeMatico
Salary payments in USDT stablecoin ruled as illegal in the Chinese court
Tether USDT stablecoin cannot be used for salary payments, a Chinese court ruled, citing the country’s blanket ban on all types of crypto transactions. Go to Source Powered by WPeMatico