Era Lend on zkSync exploited for $3.4M in reentrancy attack
The lending app was drained of funds using a “read-only reentrancy” bug, a type of vulnerability that is often difficult for auditors to spot. Go to Source Powered by WPeMatico
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There’s a growing case for allowing crypto firms to bypass banks
Making the European Central Bank accessible to payment companies other than traditional banks would allow users to redeem their stablecoins directly for cash. Go to Source Powered by WPeMatico
Australia marks first FX transaction using a CBDC as eAUD pilot continues
The Australian digital dollar was used in a trade for a U.S. dollar stablecoin using an Ethereum layer 2 blockchain. Go to Source Powered by WPeMatico
Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions
Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of $82.84 billion, tether is a mere $433 million shy of reaching its all-time high (ATH) set on May 8, 2022. Stablecoin … Read more
The US should promote USDC — before it’s too late
USDC brings stability to cryptocurrency. It would behoove the financial system if policymakers took measures to foster its adoption. Go to Source Powered by WPeMatico
Circle reportedly adjusts USDC reserves to avoid US default risk
The world’s second-largest stablecoin issuer wants to reduce its exposure to potential US debt defaults. Go to Source Powered by WPeMatico
Tether has $1.5B in Bitcoin reserves: BDO Italia
The financial advisory and accounting firm also revealed that Tether held roughly $3.4 billion worth of precious metals. Go to Source Powered by WPeMatico
Coinbase Launches International Exchange for Bitcoin and Ether Perpetual Futures
Coinbase, the San Francisco-based cryptocurrency exchange, recently announced the launch of a new service called Coinbase International Exchange. The new platform will enable institutional users outside of the United States to trade bitcoin and ethereum perpetual futures. The company stated in a tweet that the service will begin by offering perpetual futures settled in USDC … Read more
Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31
While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four … Read more
Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction
Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins in circulation that the project saw almost a year ago, in May 2022. Tether Supply Is … Read more