DEX accidentally hits ‘kill-switch’ on mainnet, locking 660,000 USDC inside
The deployment of a program upgrade went terribly wrong as a fateful “Solana program close” command stopped OptiFi’s platform indefinitely. Go to Source Powered by WPeMatico
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Argentinian Province Mendoza Starts Accepting Tax Payments in Crypto
Mendoza, an Argentinian province, has implemented a system that allows taxpayers to pay their taxes fully with cryptocurrencies. The system, which was launched this week, is part of a strategic push for the modernization and digitalization of payments carried by the tax authority of Mendoza and uses the services of a third party to process … Read more
Coinbase Launches Wrapped Ethereum Liquid Staking Token Ahead of The Merge
The cryptocurrency exchange Coinbase has introduced a new liquid staking ethereum derivative token ahead of Ethereum’s proof-of-stake (PoS) upgrade. The new ERC20 utility token is called coinbase wrapped ethereum, or CBETH, and it will allow people to stake their ether in a non-custodial fashion or trade the tokens on the open market. Coinbase Reveals CBETH … Read more
Stablecoin Issuer Tether Won’t Freeze Tornado Cash Addresses, Says Premature Freezing Could Jeopardize Investigations
While the crypto community is still talking about the U.S. government banning the ethereum mixing platform Tornado Cash, the stablecoin issuer Tether Holdings Limited revealed on Wednesday that the company would not “freeze Tornado Cash addresses.” Tether’s recently published blog post about the subject says the company is waiting for instructions from law enforcement. Tether … Read more
Morgan Stanley Analyst Says Crypto Economy’s Liquidity Improved, but There’s ‘No Huge Demand to Re-Leverage’
An analyst at the New York-based financial services and investment management company Morgan Stanley detailed on Monday that crypto liquidity seems to be recovering. Morgan Stanley’s Sheena Shah highlighted in a note to investors that the stablecoin market capitalization is seeing fewer redemptions for the first time since April. Morgan Stanley Investors’ Note Says Crypto … Read more
USDC whale holdings percentage lowest in almost two years
USDC tokens held by the largest addresses have dropped to a two-year low as Circle freezes Tornado Cash-related assets. Go to Source Powered by WPeMatico
Tether Hires BDO Italia for Monthly Assurance Reports, USDT’s Quarterly Attestation Shows a 58% Decrease in Commercial Paper
This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin issuer’s reserves. The following day, Tether published its quarterly assurance opinion completed … Read more
Celsius Approved to Sell Mined Bitcoin, Customer That Lost 50,000 USDC Insists Her Regulated Stablecoins Should Be Treated Differently
On August 16, the crypto lender Celsius Network has been approved by a bankruptcy court judge to sell bitcoin the company previously mined to continue funding specific operations. The following day, the company’s attorney detailed that Celsius has been offered cash injections, but the lawyer did not disclose who offered the funds and how much … Read more
USDT market cap up by $2 billion following Tornado Cash debacle
Tether’s market capitalization has reversed a three-month downtrend while USDC sees a drop in value after the U.S. imposed sanctions against Tornado Cash. Go to Source Powered by WPeMatico
Another Stablecoin Depegs From USD Parity, Polkadot-Based AUSD Loses 98% in Value
2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based stablecoin alpaca usd (AUSD) dropped below a U.S. penny in value, only to bounce back to the $0.95 region hours later. Reports say that the Acala protocol was … Read more