Jack Dorsey’s TBD Partners Circle To Support Global Mainstream Adoption Of USDC
TBD, a subsidiary of Jack Dorsey’s payment firm Block, has partnered with Circle to collaborate on open standards and open-source technologies to enable the mainstream adoption of digital currencies in payments and financial applications globally. TBD will support cross-border remittances and self-custody of USDC stablecoin. Jack Dorsey’s TBD and Circle to Support USDC Cross-Border Transfer The post Jack Dorsey’s TBD Partners Circle To Support Global Mainstream Adoption Of USDC appeared first o
Bitcoin think tank says ‘No’ to CBDCs and lends credence to…
The Central Bank Digital Currencies (CBDCs) should be rejected, and in their place, the United States should look to Bitcoin (BTC) and stablecoins, according to the U.S. think tank Bitcoin Policy Institute. Authors including former Kraken growth lead Dan Held and Texas Bitcoin Foundation executive director Natalie Smolenski Ph.D. contend that CBDCs will deprive the […]
LUNA, LUNC investors may experience some distress due to this update
A piece of proposed legislation in the House of Representatives would put a two-year moratorium on creating algorithmic stablecoins. According to Bloomberg’s latest version of the legislation, it would be illegal to create or issue new “endogenously collateralized stablecoins.” With the cat out of the bag, how are the two infamous stablecoins holding up? Let’s […]
United States: Will this new bill ban Terra-like stablecoins for 2 years
A recent Bloomberg report stated that upcoming legislation would ban algorithmic stablecoins such as TerraUSD that collapsed in May this year leading to a global crypto crash. The said bill is currently being drafted in the U.S. House. Controlling the Stablecoin segment The bill would make it illegal to develop or issue new “endogenously collateralized […]
New Draft Legislation Proposes Two-Year Ban on Stablecoins Like TerraUSD
Next week, the House Financial Services committee will vote on legislation to regulate stablecoins. As per details, the draft bill proposes a complete two-year ban on algorithmic stablecoins like the TerraUSD. The TerraUSD stablecoin witnessed a severe crash earlier this year in May 2022 eroding more than $40 billion of investors’ wealth. Since then, the The post New Draft Legislation Proposes Two-Year Ban on Stablecoins Like TerraUSD appeared first on CoinGape.
Is AAVE in a position to GHO-st to the top after a strong July
On 7 July, leading Decentralized Finance (DeFi) protocol AAVE announced plans to launch the network’s overcollateralized stablecoin – GHO. This decision was made subject to the community’s approval. Voting by community members on the proposal started on 28 July and ended on 31 July. According to the tallied votes, 99% of voters supported the creation […]
Another Stablecoin Crash; This Time Its On Solana (SOL)
On July 28th, Solana-based decentralized finance protocol Nirvana Finance confirmed on twitter that it suffered a flash loan attack for USD 3.5 million which immediately led to the nosedive of its native token ANA and stablecoin NIRV. Another dollar pegged stablecoin destabilizes Crypto analytics firm Packshield, had first confirmed the exploit, the attacker used a The post Another Stablecoin Crash; This Time Its On Solana (SOL) appeared first on CoinGape.
USDC To Dethrone USDT By This Date; Report Predicts
The stability of Stablecoins has been the biggest question in the crypto industry after the recent collapse of Terra’s UST. However, many different stablecoins are trying hard to fill the gap made due to it. Meanwhile, the report shows that the USD coin (USDC) is winning this race. USDC growth rate spikes According to a The post USDC To Dethrone USDT By This Date; Report Predicts appeared first on CoinGape.
Curve Hints At Its Own Stablecoin, Will It Meet The Terra Fate
Curve, an on-chain Ethereum liquidity pool, could be in the plans of making its own stablecoin. Curve Finance is a widely popular platform used for stablecoin trading. However, a tweet from SCB 10X, a holding company of the SCBX group, reveals that a stablecoin from Curve could be imminent. Curve Finance allows for the exchange The post Curve Hints At Its Own Stablecoin, Will It Meet The Terra Fate appeared first on CoinGape.
Just In: Stablecoin Laws Very Soon A Reality In US With This Deal?
A deal between two House lawmakers for US stablecoin rules could well be a reality soon. With the possibility of a deal agreement in coming days, regulators could soon have a framework to control stablecoin issue. If all goes as planned in the coming weeks, the deal could pass the House within next few months. The post Just In: Stablecoin Laws Very Soon A Reality In US With This Deal? appeared first on CoinGape.
AAVE moons 45%, credit to GHO; traders should expect resistance at…
Recently, AAVE announced the creation of a new stablecoin called GHO, native to its platform. The announcement turbocharged AAVE bulls, extending its upside by more than 45%. AAVE’s latest rally kicked off at the start of July after a bearish retracement towards the end of June. The cryptocurrency traded as low as $54.8 in January […]
Scoop: What’s Behind Crypto Stablecoin Crash?
The crash of Terra’s UST has sparked serious debate over the future of the stablecoin space, while severely denting crypto market sentiment. UST de-pegged from the dollar earlier this week, and has since struggled to regain its 1:1 peg. Corrective measures from founder Do Kwon and the Luna Foundation Guard have done little to remedy The post Scoop: What’s Behind Crypto Stablecoin Crash? appeared first on CoinGape.
Gensler attacks USDT, USDC, BUSD while Do Kwon takes his ‘razor focus to deliver’
The U.S. SEC Chair Gary Gensler criticized stablecoins and digital asset exchanges for trading against their customers. This criticism comes at a low point for the crypto market which is currently going through a rough patch. Headlining the dip was Terra labs, which saw its stablecoin take a massive blow of a 90% drop. SEC […]
NEAR Protocol ($NEAR) Rallies 24% To Near All-Time High, Here’s Why
NEAR, the native token on the eponymous blockchain, rallied on Friday amid speculation that the protocol will introduce its own stablecoin. The token also benefited from a string of venture capital investments in the blockchain. NEAR was up about 24% in the past 24 hours, trading at $18.92- just a few dollars short of its The post NEAR Protocol ($NEAR) Rallies 24% To Near All-Time High, Here’s Why appeared first on CoinGape.
Here’s why stablecoins and not Bitcoin is the new ‘safe haven’
Stablecoins appear to have done very well in an otherwise turbulent year for most mainstream cryptocurrencies. While most cryptocurrencies have rebounded from their deficits, stablecoins maintained their course throughout. Now, the question remains- Should investors continue to look at stablecoins for long-term gains? Well, it’s important to note that after years of presence in the […]
Tether (USDT) Daily Unique Addresses Hit 2022 Highs, What It Means For Crypto Markets
A key measure of trade for top stablecoin Tether (USDT) hit its highest level this year, indicating an elevated level of demand. The data could imply two potential scenarios for the crypto industry, based on USDT’s role as a trade facilitator and as a safe haven. According to data from crypto research firm Santiment, daily The post Tether (USDT) Daily Unique Addresses Hit 2022 Highs, What It Means For Crypto Markets appeared first on CoinGape.
Altcoin Roundup: JunoSwap, Solidly and VVS Finance give DeFi a much-needed refresh
DeFi is undergoing a revival and this time, it’s happening on Ethereum network competitors. Decentralized finance (DeFi) was the talk of the town in early 2021, but it has since taken a back seat to more appealing sectors like nonfungible tokens (NFTs), memecoins and blockchain gaming. Now that cross-chain bridges and interoperability have allowed for the easier migration of assets to competing chains, a new class of DeFi protocols is arising to challenge those left from 2021
Terra's Anchor Protocol erases 'crypto winter' losses, ANC price rebounds 300% in a month
ANC price risks becoming overheated, however, after a major rally. Anchor Protocol (ANC), the decentralized finance (DeFi) platform built on the Terra blockchain protocol, rebounded nearly 300% in over a month after bottoming out near $1.26.ANC price went as high as $4.97 on the Bitfinex cryptocurrency exchange on March 3, 2022, breaking above the previous record peak near $4.50 established on Dec. 3 last year. In doing so, the Anchor Protocol also erased all the losses it h
Terra price gains 75% in February as $2.57B in LUNA tokens removed from supply
The token burn appears as the supply of UST, Terra's stablecoin, rises by nearly 14.75% in the month. Terra (LUNA) emerged as one of the best performing financial assets in February, a month mired by geopolitical conflicts and their negative impacts on the crypto market.LUNA decouples from the crypto marketLUNA's price surged by a little over 75% to reach $91.50 at the month's UTC close. In comparison, the percentage performance of other top tokens, mainly Bitcoin (BTC) and