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Current stablecoin metrics show that USDE, the popular yield-bearing stablecoin, has slipped to fifth place among the top U.S. dollar-pegged tokens by market capitalization. Over the past three days, Ethena’s USDE supply has decreased by 130 million, pushing First Digital’s FDUSD into the fourth largest spot. Stablecoin Shakeup: USDE Slips to 5th, FDUSD Rises to … Read more
Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not explicitly deem these transactions illegal, it retained the right to contest them, leading to frustration within the crypto community. This uncertainty has … Read more
The U.S. Securities and Exchange Commission (SEC) has raised concerns over FTX’s plan to pay back claims using its “crypto asset securities.” The SEC’s Senior Trial Counsel, Therese Scheuer, has reserved the right to challenge these transactions under federal securities laws. FTX’s Crypto Repayment Plan Faces Potential SEC Challenge The FTX bankruptcy saga is moving … Read more
A recent report by Bitso, one of the largest crypto exchanges in Latin America, found that Argentines were especially inclined to use and purchase stablecoins over other cryptocurrencies. Six out of every ten cryptocurrency purchases in Argentina involved stablecoins during Q1 and Q2, as these are used as a hedge against inflation and devaluation. Bitso: … Read more
Blockchain technology is set to transform the payments industry by tackling persistent issues in cross-border transactions. A detailed report by Binance Research suggests that incorporating blockchain into payment systems could substantially lower costs and speed up settlements, offering a new direction for global payments infrastructure. Blockchain Gains Momentum in the Payments Industry as Binance Highlights … Read more
The new USDS stablecoin from Maker, now Sky, has a freeze function which the project’s founder claims won’t be part of the token at launch. Go to Source
Coinbase CEO Brian Armstrong reflects on the past decade of the cryptocurrency industry, highlighting his initial expectation that payments would be the primary application for crypto. Instead, trading became the dominant force. Looking ahead, Armstrong remains optimistic about the future of crypto payments, citing advancements in stablecoins, layer two technologies, and simpler onboarding processes as … Read more
The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. Bank of Russia Explores Stablecoin Use for Cross-Border Transactions … Read more
Private issuers of stablecoins could extend the lifespan of the US dollar by driving demand for the underlying fiat currency. Go to Source
Recent data from Cryptoquant researchers indicate that bitcoin demand growth continues to show signs of weakness. Despite this, the report notes that long-term holders have been accumulating bitcoin at unprecedented levels, providing some resilience to the market. Report Shows Bitcoin Demand Craters Amid Weak Market Signals Bitcoin demand has seen a significant decline since early … Read more