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The stablecoin ecosystem has evolved significantly over the years, with new regulations and models shaping the landscape. The rise of digital currencies, exemplified by Bitcoin (BTC), brought a groundbreaking shift in the financial landscape. However, it also brought to light a critical challenge: price volatility. Bitcoin and many other early cryptocurrencies exhibited extreme price fluctuations,…
” Curve Finance trading volume reaches $7B historic high after USDC depeg “ Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets and depegged the USD Coin…
” Binance mints 50M TrueUSD days after Paxos ordered stop issuing BUSD “ Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes…
” Major stablecoins destabilized as market volatility and redemptions surge “ Plunging cryptocurrency prices are not the only consequence of this week’s FTX-induced crypto contagion. Significant market volatility this week induced by the collapse of the FTX exchange has impacted stablecoins with many of them de-pegging temporarily. According to CryptoQuant senior analyst Julio Moreno, nearly…
“# Hong Kong begins discussions to introduce stablecoin regulatory framework ” Hong Kong’s central banking institution, the Hong Kong Monetary Authority (HKMA), released a questionnaire to gauge public opinion on regulations for crypto-assets and stablecoins. The state-backed regulator intends to establish a regulatory framework by 2023-24. HKMA’s “Discussion Paper on Crypto-assets and Stablecoins” highlights the…
“# Which stablecoins were actually ‘stable’ during this week’s sudden Bitcoin price crash? ” A sharp sell-off across the cryptocurrency market on Tuesday — that saw top tokens Bitcoin (BTC), Ether (ETH), Cardano (ADA) and Solana (SOL) fall by double-digital percentages — created a venue for stablecoins to prove their worth. The fixed-price cryptocurrencies offered…
“# Cointelegraph Consulting: Stablecoin activity drops after May peak ” Stablecoin usage lost steam amid the recent crypto market downturn. From peaking at nearly $2 billion on May 19, the daily transaction volume has fallen off its 2021 average by about 60%. The significant drop begs the question about stablecoin activity in the current market…