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CCData estimates stablecoins will lose approximately $625 million in interest income for each 50-basis point cut. Further cuts in 2024 could reduce annual revenue by as much as $1.5 billion. Go to Source
Tether, the world’s largest stablecoin issuer, reportedly played a crucial role in a joint operation led by Dutch and U.S. law enforcement agencies to dismantle two cryptocurrency exchanges suspected of money laundering. The operation resulted in the seizure of €7 million ($7.8M) in crypto and the freezing of illicit wallets. Tether Works With Law Enforcement … Read more
Blackrock has announced its backing of a new stablecoin, UStb, launched by Ethena Labs. Supported by Blackrock’s BUIDL fund, UStb is designed to provide a reliable alternative in the stablecoin market, leveraging investments in U.S. dollars, short-term Treasury bills, and repurchase agreements. Ethena Labs has partnered with Securitize to facilitate the launch, aiming to enhance … Read more
Paypal has unveiled a new feature allowing U.S. merchants to buy, hold, and sell cryptocurrency from their business accounts. Although not yet available in New York, this move caters to increasing demand from businesses. Paypal has steadily ramped up its involvement in digital currencies, including the launch of Paypal USD (PYUSD) and its integration with … Read more
Curve Finance is evaluating a proposal to reduce its reliance on the stablecoin TUSD following the resolution of U.S. Securities and Exchange Commission (SEC) charges against Trusttoken Inc. and Truecoin LLC, the companies behind the dollar-pegged token. TUSD Faces Removal From Curve Finance Pegkeeper The proposal, authored by Wormhole Oracle, suggests slashing the debt ceiling … Read more
Tether’s USDT has just reached an all-time high, with its market cap soaring to a staggering $119.14 billion. This milestone solidifies USDT’s position as the leading stablecoin in the cryptocurrency market, inching closer to the $120 billion mark. $USD Tether’s market cap has reached a new peak in market value, nearing $120 billion. Tether has … Read more
The partnership comes shortly ahead of the implementation of the MiCA regulatory framework for crypto service providers. Go to Source
The U.S. Securities and Exchange Commission (SEC) announced settled charges against crypto companies Trusttoken Inc. and Truecoin LLC. The charges allege fraudulent misrepresentations and unregistered sales of investment contracts related to the stablecoin trueusd (TUSD). U.S. Securities Regulator Charges Crypto Companies Trusttoken and Truecoin According to the SEC’s complaint released on Tuesday, Truecoin and Trusttoken … Read more
This week at @Token2049, the Celo Foundation and cLabs are making headlines as Celo’s daily active stablecoin addresses recently surpassed those of @trondao. But what’s fueling this impressive rise in Celo’s stablecoin usage? While daily active addresses can be a limited metric, a deeper look into Celo’s stablecoin transaction volumes reveals the true growth. Transfer … Read more
Crypto-friendly digital bank Revolut is set to launch its own stablecoin, marking a significant expansion of its crypto offerings. This move positions Revolut alongside major players like Paypal, Ripple, and Bitgo in the highly competitive stablecoin market. The London-based fintech company, which holds a UK banking license, aims to ensure compliance and safety with this … Read more