Terra UST – DIGIT INFO

New Stablecoin Bill Faces Criticism for Stifling Innovation and Breaching First Amendment

DIGIT — Sat, 20 Apr 2024 21:25:18 +0000

A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all “algorithmic payment stablecoins,” which could have significant implications for software developers and the broader tech community. Lummis-Gillibrand Stablecoin Bill Criticized […]

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Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments

DIGIT — Tue, 14 Feb 2023 14:00:51 +0000

While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top five stablecoins by market valuation that has seen a supply increase in the past three months. […]

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Tron’s Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital

DIGIT — Mon, 12 Dec 2022 15:30:40 +0000

The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project is overcollateralized by 200.8% at the […]

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Analysis of FTX and Alameda Collapse Points to Terra LUNA Fallout Starting the Domino Effect

DIGIT — Fri, 18 Nov 2022 17:30:51 +0000

An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company’s implosion. The study from Nansen further details that “FTX and […]

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Three Arrows Capital Founders Speak After Filing Bankruptcy, Exec Says the ‘Whole Situation Is Regrettable’

DIGIT — Fri, 22 Jul 2022 14:30:01 +0000

This week the two co-founders of the embattled cryptocurrency hedge fund Three Arrows Capital spoke to Bloomberg about their fund crumbling at the seams. The co-founders Su Zhu and Kyle Davies did not disclose their whereabouts, but a lawyer who monitored the interview noted the duo is located in the United Arab Emirates. Zhu said […]

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Tron’s USDD Regains Stability After Tapping an All-Time Low at $0.92

DIGIT — Tue, 05 Jul 2022 11:30:53 +0000

Between June 13 and June 27, or roughly two weeks, Tron’s stablecoin USDD dropped lower than the $1 parity and slipped to a low of $0.928 per unit on June 19. During the past seven days, USDD has managed to jump back to the $0.98 to $0.99 region while reaching $1 on July 3. Tron’s […]

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FTX CEO Sam Bankman-Fried Warns More Crypto Company Insolvencies Are Coming

DIGIT — Wed, 29 Jun 2022 14:00:12 +0000

In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things […]

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Tron’s Stablecoin USDD Falls to $0.97, USDC Deployed to Defend the $1 Parity

DIGIT — Mon, 13 Jun 2022 19:30:57 +0000

After the Terra UST fallout and the current crypto market volatility, many eyes have been focused on the Tron-based algorithmic stablecoin USDD. On June 13, the crypto asset tron (TRX) dropped significantly in value and Tron’s founder Justin Sun spoke about traders shorting the digital currency. Sun explained that the Tron DAO Reserve would deploy […]

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Bitcoin price sees ‘hell of a reversal candle’ as 168,000 BTC leaves exchanges

DIGIT — Fri, 13 May 2022 07:29:17 +0000

Nothing keeps a Bitcoin bull down for long, and now, BTC price action is back above $30,000 after 24-hour gains of 30%.

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Makerdao Dev Insists Defi Protocol Should Leverage Real World Assets to Scale

DIGIT — Sun, 20 Mar 2022 19:30:29 +0000

On March 16, the protocol engineer at Makerdao and co-founder of the software and design firm Bellwood Studios, Hexonaut, announced a proposal to use real world assets (RWAs) in order to scale the decentralized finance (defi) protocol Makerdao. Hexonaut insists the bull market was good, but “the time is passing” and he believes Makerdao needs […]

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