Stablecoin – Page 38

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.

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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 […]

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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.

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Terra Labs, Luna Guard commission audit to defend against allegations of misusing funds

The audit tracked efforts to defend the UST peg May 8-12 and no found wrongdoing. LFG used the data to draw conclusions about frozen funds.

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Huobi Becomes Latest Crypto Exchange to Disclose Proof-of-Reserves

Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to boost users’ confidence in the exchange as well as to improve transparency. Huobi’s ‘Inexhaustive Overview’ […]

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Tether CTO confirms no plans to rescue FTX

FTX won’t be getting a bailout from Tether who confirmed it isn’t planning to provide a cash injection despite the CEO reportedly reaching out to multiple firms for help.

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82% of Tether reserves held in ‘extremely liquid’ assets, according to attestation

The USDT issuer had total assets of $68.06 billion at the end of the third quarter, exceeding its total liabilities of $67.8 billion.

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Analysts urge calm as Tether depegs from USD, Bitcoin loses $17K rebound

Tether follows TRON’s USDD stablecoin in coming unstuck amid suspicions of shorting involving FTX and Alameda Research.

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Tron’s stablecoin USDD loses dollar peg on suspected selloff by Alameda Research

Wallets associated with Sam Bankman-Fried’s Alameda Research could be behind the dollar de-peg, alleges Tron’s founder.

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Stablecoin GUSD’s Supply Jumps Close to 130% Higher in 30 Days

While the stablecoin economy has seen fluctuations from specific stablecoin tokens either increasing the project’s number of tokens in circulation or decreasing the supply, the stablecoin GUSD issued by Gemini has increased by 129.5% during the last 30 days. GUSD Sees Supply Balloon by Nearly 130% There’s been a number of changes within the stablecoin […]

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