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” Roger Ver denies CoinFLEX CEO’s claims he owes firm $47M USDC “ Roger Ver, an early Bitcoin investor and Bitcoin Cash proponent, has pushed against claims from crypto investment platform CoinFLEX regarding an alleged $47-million debt. In a Tuesday tweet, Ver — not mentioning CoinFLEX by name — said he had not “defaulted on…
” Tether’s USDT market cap dips below $70B for an 8-month low “ Tether (USDT), the biggest stablecoin and the third-largest digital currency by market capitalization continues losing its market value amid the current market downturn. On Thursday, USDT’s market cap dropped below $70 billion for the first time since October 2021. The drop followed…
” Crypto Biz: Stablecoins are paving the way for mass adoption of crypto, June 2–8 “ Stablecoins are a controversial subject in crypto. Questioning the legitimacy and backing of Tether (USDT) is a right of passage for many entering the crypto market for the first time. The meltdown of the Terra (LUNC; or the old…
” Circle to acquire Web3 platform Cybavo, bolstering its stablecoin adoption “ Circle, a peer to peer financial services firm, has agreed to acquire Cybavo, a digital asset infrastructure platform. The deal will allow Circle to provide “infrastructure as a service” for firms wanting to develop on Web3. Developers will be able to work on…
” MoneyGram’s USDC transfer service launches in several countries “ Cross-border transfer service MoneyGram officially launched its stablecoin-powered payment channel on Friday, giving users the ability to send USD Coin (USDC) payments worldwide that can be withdrawn as cash by recipients. The service is being rolled out across several key remittance markets, including Canada, the…
” Checkout.com launches 24/7 stablecoin settlement in partnership with Fireblocks “ Global payment processor Checkout.com has launched a new stablecoin settlement system that will allow merchants to process crypto payments from their customers in real time — potentially widening the use cases of stablecoins within e-commerce. The stablecoin settlement system centers around Circle’s USD Coin…
” Binance’s CZ says he is ‘skeptical’ about the Terra relaunch “ Binance CEO Changpeng Zhao, also known as CZ, expressed skepticism around the revival plan for the Terra ecosystem and the launch of the new LUNA token. “I try not to predict what the community will do. […] Many are skeptical. I’m one of…
” Do you have the right to redeem your stablecoin? “ Stablecoins are often discussed with regard to their “stability.” It is usually questioned whether a stablecoin is sufficiently backed with money or other assets. Undoubtedly, it is a very important aspect of stablecoin value. But, does it make sense if the legal terms of…
” Terra fallout: Stablegains lawsuit, Hashed loses billions, Finder wrong and more… “ Fallout from the collapse of the Terra ecosystem continues to unfold with the United States-based yield generation app Stablegains facing potential legal action over its losses from the event. Users believe Stablegain has allegedly lost up to $44 million worth of deposited…
” Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine? “ The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second-largest blockchain after Ethereum (Terra), the depeg contagion seems to be spreading wider. While UST has completely depegged…