Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency
Tether is still under regulatory pressure with eyes now cast towards its commercial paper reserves. Go to Source Powered by WPeMatico
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Tether promises an audit in ‘months’ as Paxos claims USDT is not a real stablecoin
Tether’s general counsel said a full audit is coming in months. Go to Source Powered by WPeMatico
Auditors reveal USDC backing as Jim Cramer sounds alarm over Tether’s mad money
Grant Horton has conducted an audit on USDC’s reserves and Jim Cramer has questioned what’s going on with Tether’s commercial paper reserves. Go to Source Powered by WPeMatico
Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines
The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months. Go to Source Powered by WPeMatico
Stablecoins Swelled by $13B in 30 Days, Captured 67% of Today’s Crypto Trade Volume
Over the last few weeks, cryptocurrency markets have fallen in value as most of these assets reached all-time price highs three months ago. Despite the price drops, 2021 has still been an explosive year for crypto gains and fiat-pegged stablecoins have grown massively as well. 53 days ago, the entire capitalization of fiat stablecoins crossed … Read more
Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions
Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering Syndicate Recycles $155 Million in Crypto and Fiat Transactions … Read more
Stablecoin growth could affect credit markets, rating agency warns
Fitch notes potential asset contagion risks posed by stablecoins could lead to tighter regulations for the industry. Go to Source Powered by WPeMatico
Stablecoin insurance firm Bridge Mutual to protect against possible Tether depegging
Years of regulatory uncertainty around Tether could be offset by newfound investor confidence if an emerging insurance protocol for USDT gains traction. Go to Source Powered by WPeMatico
Messari: USDC set to become ‘dominant’ stablecoin on Ethereum
Tether supplies on Ethereum are dwindling as USD Coin demand grows and grows. Go to Source Powered by WPeMatico
Polygon-Based Defi Stablecoin Safedollar Plunges to Zero — Team Is Investigating Exploit
The algorithmic decentralized finance (defi) stablecoin safedollar (SDO) has been attacked, according to statements published on its Telegram channel. The safedollar token did not remain stable following the attack, as the defi stablecoin’s price collapsed to zero. Safedollar Stablecoin Price Collapses A Polygon (MATIC) blockchain-based stablecoin called safedollar (SDO) has lost all of its value, … Read more