USDC to consolidate reserves into cash and US treasuries
Coinbase president Emilie Choi expects USDC’s updated reserves policy to be in full effect by September. Go to Source Powered by WPeMatico
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Bitcoin bulls at risk? Tether growth rate flatlines despite market cap crossing $64B
The market capitalization of the world’s largest stablecoin received a boost despite facing regulatory threats in the United States. Go to Source Powered by WPeMatico
Poly Network Says Stolen User Assets on ETH Have Been Returned, Except Frozen USDT
On Friday, a few days after the initial hack for $611 million, the Poly Network project detailed that the company has obtained all the assets stolen minus the frozen tether that was blacklisted by Tether Limited. The Poly Network team said they are in control of the funds along with “Mr. White Hat,” but the … Read more
Poly Network Hacker Says ‘In the Defi World Code Is Law’ While Returning Millions in Defi Tokens
Two days after the notorious Poly Network hack, the hacker continues to send funds back to the project. On August 12, the Poly Network hacker so far has returned millions worth of ether, thousands of uni tokens, 1,032 wrapped bitcoins, and 96 million in stablecoins. The day prior, after returning $260 million in tokens, the … Read more
Poly Network Defi Hacker Returns a Large Fraction of Tokens, Chainalysis Evaluates Hacker’s Onchain Movements
On August 11, the blockchain intelligence firm Chainalysis published its findings on the recent Poly Network hack which saw the loss of approximately $611 million crypto tokens. The assessment from Chainalysis backed up the claims made by the security company called Slowmist that shows the hacker left a fingerprint on the relatively unknown exchange Hoo.com. … Read more
Poly Network Hacker Returns $4.7M in Funds — Attacker Asks Devs to Unlock Frozen Tether Stash
On Tuesday, the decentralized finance (defi) project Poly Network was hacked for over $600 million in digital assets. The attack was the largest defi hack to date eclipsing all of 2021’s defi hacks combined. The very next day, however, the hacker started to send funds back to the Poly Network team as the project’s official … Read more
Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin
The Coinbase website now states that USD Coin is “backed by fully reserved assets,” contrary to the now-removed claim of “backed by U.S. dollars in a bank account.” Go to Source Powered by WPeMatico
The $62B Stablecoin Giant Tether Publishes Assurance Report Reviewed by Auditor Moore Cayman
Tether Limited has released an assurance report reviewed by Moore Cayman, an auditor of investment funds and digital assets. The report provides a breakdown of the company’s assets and reserves which Moore Cayman claims are around $62.7 billion as of June 30. Tether Publishes Assurance Report On August 9, 2021, Tether’s chief technology officer tweeted … Read more
Huobi Stablecoin Issuer Publishes Attestation Reports Tied to HUSD Reserve Backing
The crypto financial services company Huobi and the firm’s stablecoin issuer Stable Universal have published monthly HUSD attestation reports. The audits indicate the funds that back Huobi’s stablecoin are kept in cash in U.S. money market accounts in order to ensure the 1:1 ratio with USD. HUSD Monthly Attestations On Thursday, more than $117 billion … Read more
Circle and Unstoppable Domains to introduce username-based USDC payments
USD Coin holders will soon be able to transfer the stablecoin via human-readable addresses across supported wallets and crypto exchanges. Go to Source Powered by WPeMatico