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” United Texas Bank CEO wants to ‘limit the issuance of US dollar-backed stablecoins to banks’ “ Scott Beck, chief executive officer of United Texas Bank, called on members of the state’s blockchain working group to recommend policy for leaving stablecoins to banks rather than crypto firms. Speaking before the Texas Work Group on Blockchain…
” Independent Tether attestation reveals 58% decrease in commercial paper holdings “ An announcement from USDT issuer Tether Holdings Limited revealed information from an independent attestation about the company’s previous quarter’s performance. The reviewer, top accounting firm BDO Italia, assessed Tether’s assets as of June 30, 2022. Tether had previously announced a commitment to decreasing its…
” Huobi explains what went wrong with HUSD after stablecoin is back on track “ After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what caused the short-term liquidity problem and assured users that it has been resolved. On Aug. 18, HUSD started to fall from its dollar value, trading at $0.92 at…
” Built to fall? As the CBDC sun rises, stablecoins may catch a shadow “ There’s a ferment brewing with regard to central bank digital currencies (CBDCs), and most people really don’t know what to expect. Varied effects seem to be bubbling up in different parts of the world. Consider: China’s e-CNY has already been…
” Brazilian payment app PicPay launches crypto exchange with Paxos “ Major Brazilian payment application PicPay is moving into cryptocurrencies by integrating a crypto exchange service allowing users to buy Bitcoin (BTC) and Ether (ETH). The firm officially announced on Wednesday that PicPay clients can now buy, sell and store two major cryptocurrencies, BTC or…
” Tether also confirms its throwing weight behind the post-Merge Ethereum “ Hot on the heels of an official announcement from USD Coin (USDC) issuer Circle Pay, stablecoin giant Tether has now also officially confirmed its support behind Ethereum’s upcoming Merge upgrade and switch to a Proof-of-Stake (PoS) consensus mechanism-based blockchain. The announcement came on…
” Circle plans to only support Ethereum PoS chain after Merge is complete “ On Tuesday, Circle, the issuer of the USD Coin (USDC) stablecoin, pledged its full support for the transition of Ethereum to a proof-of-stake, or PoS, blockchain after the much-anticipated Merge upgrade. The firm views the Merge as an important milestone in…
” Vitalik: Centralized USDC could decide the future of contentious ETH hard forks “ Ethereum co-founder Vitalik Buterin says that centralized stablecoins such as Tether (USDT) and Circle USD (USDC) could become “a significant decider in future contentious hard forks.” Buterin was speaking at the BUIDL Asia conference in Seoul on Aug. 3, along with…
” Tether calls thesis behind USDT short-selling ‘flat out wrong’ “ Tether, the issuer of Tether (USDT), says that hedge funds that attempted to short its stablecoin after Terra’s collapse in May are using a thesis that is “incredibly misinformed” and “flat out wrong.” In a blog post from July 28, Tether pointed to a…
” Solana-based stablecoin NIRV drops 85% following $3.5M exploit “ Solana-based algorithmic stablecoin NIRV has become the latest stablecoin to fail, after dropping 85% from its dollar peg following a hack on adaptive yield protocol Nirvana Finance on Wednesday. The flash loan attack, which also saw Nirvana Finance’s native token ANA drop by 85%, resulted…