Tether to launch GBPT stablecoin pegged to British pound sterling
Tether expects to be part of industry innovation in the United Kingdom as the country is planning to adopt stablecoins as a means of payment. Go to Source Powered by WPeMatico
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USDD Continues to Trade for Under $1 — Tron DAO Reserve Insists Stablecoin Has Not Depegged
Since June 12, 2022, the Tron-based stablecoin USDD has remained below a U.S. dollar in value. On Monday, USDD had a 24-hour trading range of around $0.943 to $0.966 per unit and the day prior on June 19, USDD saw an all-time low at $0.928 per unit. Despite being below the U.S. dollar parity, the … Read more
Record stablecoin market share points to crypto upside: JPMorgan
Despite the FUD around stablecoins, the percentage of stablecoins in the total market cap has been growing recently, hitting new all-time highs. Go to Source Powered by WPeMatico
Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout
Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914 per unit. The Abracadabra-issued stablecoin dropping in value follows the recent terrausd (UST) failure and USDD’s recent volatility last week. Stablecoin … Read more
Magic Internet Money token depegs as Terra (LUNA) domino effect persists
Citing an insider scoop, Autism Capital claimed that Abracadabra accrued $12 million in bad debt as a direct result of Terra’s sudden downfall, which has been refuted by founder Daniele Sestagalli. Go to Source Powered by WPeMatico
Coinbase is facing class action suits over unstable stablecoins GYEN, TerraUSD
The cryptocurrency exchange is accused of failing to do due diligence, among other things, after users lost large sums as a result of the depegging of stablecoins. Go to Source Powered by WPeMatico
The Number of Tethers in Circulation Dropped by Over 12 Billion in 2 Months, USDC Grew by 9%
During the last two months, the stablecoin tether has been one of the most traded crypto assets swapped against a myriad of digital currencies. 66 days ago on April 11, 2022, tether’s market valuation was over $82 billion with 82,694,361,442 tethers in circulation. Since then, more than 12 billion tethers have been removed from circulation … Read more
Elusive Bitcoin ETF: Hester Perice criticizes lack of legal clarity for crypto
SEC Commissioner and “Crypto Mom” Hester Peirce criticized the SEC on its regulatory guidance, but noted that change is possible if investors and regulators work together. Go to Source Powered by WPeMatico
Tether’s USDT market cap dips below $70B for an 8-month low
Amid Tether losing market share over the past few weeks, the Circle-backed USDC stablecoin has been notably growing, with the market value surging to $55 billion. Go to Source Powered by WPeMatico
Circle Launches Second Major Stablecoin Backed 1:1 by the Euro
On Thursday, Circle’s CEO Jeremy Allaire announced that the company has launched a new stablecoin pegged to the value of the euro (EUR). Allaire said that the new EUROC token is now live on the Ethereum network and will be “available to mint and redeem on June 30th.” Circle Launches EUROC Circle has announced the … Read more