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“# Dynamic Set Dollar faces “massive test” as stablecoin falls as low as $.27 ” While wild price action on Bitcoin and Ethereum have claimed the attention of most traders over the Christmas weekend, a select sect of crypto traders are following an experiment playing out in real-time that may have implications for the future…
“# US federal regulators set new expectations for stablecoin issuers ” A group of leading U.S. financial regulators has released a new statement on stablecoins. One of the headlining topics of crypto regulation news this year, stablecoins were the main topic of a Dec. 23 statement the President’s Working Group on Financial Markets, or PWG. The…
“# Russia’s State Duma expects explosion of crypto issuance in 2021 ” The Russian government is anticipating more cryptocurrencies to be issued in the local market in 2021, according to a senior official. Anatoly Aksakov, a member of the Russian State Duma and a key representative of local crypto legislation efforts, said that the Duma’s…
“# Terra Protocol (LUNA) rallies 66% after DeFi and stablecoin launch ” Throughout 2020 a handful of new stablecoins launched and many analysts have suggested that stablecoin growth is the backbone of the crypto sector and partially responsible for the current Bitcoin rally. For many traders, stablecoins provide a safe place to shelter during volatile…
“# ‘BAM!’ Tether celebrates as USDT market cap passes $20 billion ” Tether (USDT), the largest cryptocurrency stablecoin, has passed a $20 billion market cap for the first time. According to data confirmed by the company on Dec. 18, Tether is now a $20 billion asset and the fourth-largest cryptocurrency by market cap. Tether market…
“# PayPal crypto partner Paxos closes $142M funding round ” United States-bases stablecoin operator Paxos has raised $142 million in fresh funding from investors including PayPal and Mithril Capital. The stablecoin issuer announced the news on Thursday. U.S. investment firm Declaration Partners, backed by billionaire David M. Rubenstein, led the funding round with other participants…
“# Equilibrium’s Polkadot-native stablecoin will integrate with Moonbeam ” Cross-chain decentralized finance lending protocol Equilibrium is set to bring its U.S.-dollar-pegged stablecoin to Moonbeam, a Polkadot project building an Ethereum-like blockchain. DeFi projects building on Moonbeam will be able to use Equilibrium’s stablecoin as if it were native to the blockchain. This includes decentralized exchanges,…
“# Waves pivot toward DeFi, staking and interoperability triggers 107% rally ” The first half of 2020 was pretty tumultous for Waves (WAVES), as the altcoin underperformed Ether (ETH) price by 36%. Waves (WAVES) in ETH terms. Source: Digital Assets Data While it was once a top-20 cryptocurrency for a brief period back in Dec….
“# EU firm’s head trader explains why euro stablecoins are hard to come by ” A number of popular U.S. dollar-pegged stablecoins exist on the crypto market. Stablecoins based on the euro also exist, but are notably less liquid, according to Zahreddine Touag, co-founder and head of trading at Paris-based market making firm Woorton. “There’s…
“# Finance Redefined: The curious implications of algorithmic stablecoins, Dec. 2–9 ” This is the latest issue of Finance Redefined, Cointelegraph’s DeFi-centric newsletter delivered to subscribers every Wednesday. A relatively quiet week in DeFi finally has given me some breathing room to talk about a subject I’ve been postponing since almost the beginning of this…