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Early on Oct. 26, the U.S. dollar value of Essence Finance’s decentralized stablecoin, CHI, plunged by more than 90% after rumors emerged that more than $20 million of collateral had been removed. According to Geckoterminal data, the value of the stablecoin, which normally trades at par with the U.S. dollar, dropped by nearly 98% to … Read more
“Old noise” may be a new name for FUD, as Tether defends itself from a report in The Wall Street Journal about US government investigations. Go to Source
As Americans gear up for the elections, the digital dollar comes back into focus. What roles will a CBDC and stablecoins play in shaping the future of the US economy? Go to Source
A U.S. Securities and Exchange Commission (SEC) commissioner has urged the U.S. to adopt a more proactive approach to crypto regulation, pointing to the leadership of Indo-Pacific nations like Japan, Singapore, and Hong Kong. He emphasized that these countries have crafted clear frameworks that foster innovation while protecting investors, in contrast to the U.S., where … Read more
Turkey’s state-owned boron miner estimates the country has more than 70% of global reserves of borate minerals. Go to Source
U.S. Senator Bill Hagerty has warned of growing efforts by BRICS nations to bypass the U.S. dollar’s dominance but argued this could ultimately strengthen the status of the dollar as the world’s reserve currency. He emphasized the need for a regulatory framework to boost demand for U.S. treasuries and stablecoins, while his stablecoin legislation aims … Read more
Representative French Hill says two crypto-regulating bills in the US might make some progress on Capitol Hill before the current Congress disbands. Go to Source
Tether CEO Paolo Ardoino says the US has been lagging on crypto laws but thinks that could soon change after the November elections. Go to Source
Mercado Libre, the Latin American e-commerce and financial services giant, has reached a milestone with meli dolar, an in-house distributed dollar-pegged stablecoin. The token, launched in August, is now in millions of wallets, according to Ignacio Estivariz, VP of Fintech Services at Mercado Libre. “We already have millions of users who have received meli dolar … Read more
The $120 billion USDT market cap could spill into Bitcoin and Ether, ending their seven-month downtrend and saving the “Uptober” narrative. Go to Source