Burdensome but not a threat: How new EU law can affect stablecoins
Apart from the stringent requirements for stablecoin issuers, there are other areas of concern in the upcoming EU regulation. Go to Source Powered by WPeMatico
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3 key metrics suggest Bitcoin and the wider crypto market have further to fall
Traders are not as fearful as they were in June, but several metrics show the market is still standing on paper-thin support levels. Go to Source Powered by WPeMatico
Tether fortifies its reserves: Will it silence critics, mollify investors?
USDT is under attack from short sellers. Would they go away if only the company hired a Big Four accounting firm to audit its balance sheet? Go to Source Powered by WPeMatico
Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With No Losses’ to the Company
On July 8, 2022, the company behind the largest stablecoin in the world, Tether, revealed that the firm liquidated a loan made to the crypto lender Celsius, and the liquidation caused “no losses to Tether.” According to the stablecoin issuer, the bitcoin loan to Celsius was “overcollateralized” by roughly “130%+.” Tether Liquidates Bitcoin Loan Taken … Read more
Tether liquidates Celsius position with ‘no losses’ to stablecoin issuer
The stablecoin issuer has once again explained that its investment in Celsius has no impact on its USDT reserves. Go to Source Powered by WPeMatico
Salary payments in USDT stablecoin ruled as illegal in the Chinese court
Tether USDT stablecoin cannot be used for salary payments, a Chinese court ruled, citing the country’s blanket ban on all types of crypto transactions. Go to Source Powered by WPeMatico
Circle’s USDC on track to topple Tether USDT as the top stablecoin in 2022
The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022. Go to Source Powered by WPeMatico
Tether continues to reduce commercial paper in sharp reduction since March
The stablecoin issuer announced its intentions of removing all commercial paper from its reserves last month as it countered rumors, and it remains on schedule so far. Go to Source Powered by WPeMatico
FTX CEO Sam Bankman-Fried Warns More Crypto Company Insolvencies Are Coming
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 … Read more
While Bitcoin and Ethereum Dominance Slides, Stablecoin Market Caps Reap the Rewards
During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped … Read more
