Stablecoins

Stablecoin outflows diminish, signaling potential shift in market sentiment

Stablecoins are a window into the market's true sentiment. Recent data shows a decline in outflows, hinting at a potential shift towards a bullish outlook and market rebound.

Binance Decides To Leave Canada, Citing Regulatory Issues Related to Stablecoins and Investor Limits

The world’s largest crypto exchange by volume says that it’s leaving Canada due to issues with the nation’s regulations on stablecoins and investor limits. In a new announcement, Binance says that it will be joining other prominent crypto-focused firms and leaving the Canadian marketplace. According to Binance, Canada’s new regulatory measures that seek to protect […] The post Binance Decides To Leave Canada, Citing Regulatory Issues Related to Stablecoins and Investor Limits appeared first on T

Binance to Withdraw From Canadian Market Due to Regulatory Climate

Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Friday that it is “proactively withdrawing from the Canadian market.” The company thanked the regulators who worked with them and said that the Canadian market was “small.” Binance Bows Out of Canada Due to Regulatory Guidance The cryptocurrency exchange Binance has decided to withdraw […]

New York State Lawmaker Introduces Bill That Would Allow People To Post Bail With Fiat-Backed Stablecoins

A lawmaker in the Empire State just proposed new legislation that could expand the use cases of stablecoins. On May 10th, New York State Democrat Latrice Walker introduced Assembly Bill 7024, which seeks to amend the criminal procedure law to authorize the use of dollar-pegged stablecoins as a form of payment for bail bonds. Accepted […] The post New York State Lawmaker Introduces Bill That Would Allow People To Post Bail With Fiat-Backed Stablecoins appeared first on The Daily Hodl.

The US should promote USDC — before it's too late

USDC brings stability to cryptocurrency. It would behoove the financial system if policymakers took measures to foster its adoption. Ignore the doomsayers. The United States is still the world’s leading economy and will remain so in the future. With its global talent pool and world-class institutions, the U.S. has a competitive edge in virtually every emergent technology. Web3 is no exception. Despite its advantages, America is bungling its chance to dominate the digital econ

MakerDAO unveils AI-fueled roadmap to new blockchain

MakerDAO has published a detailed roadmap for its five-phase Endgame plan that will lead to the introduction of a new blockchain. The post MakerDAO unveils AI-fueled roadmap to new blockchain appeared first on The Block.

New York proposes bill to allow stablecoin payments for bail bonds

Following NYAG's recent proposal of crypto regulations, the state of New York has put forward a new legislation to allow fiat-collateralized stablecoins to be used as bail bonds.

Circle refuses to hold longer-dated Treasurys on concern US government might default

Stablecoin issuer Circle is refusing to hold Treasurys that mature beyond early June, CEO Jeremy Allaire told Politico. The post Circle refuses to hold longer-dated Treasurys on concern US government might default appeared first on The Block.

New York lawmaker introduces bill to support stablecoin payment for bails

New York lawmaker Latrice Walker proposed a new bill that supports using fiat-collateralized stablecoins as an acceptable method for bail bond payments. Introduced on May 10, the New York Assembly Bill 7024 noted that the existing methods of paying bail bonds included cash, insurance bonds, and credit cards. However, it sought the inclusion of fiat-backed […] The post New York lawmaker introduces bill to support stablecoin payment for bails appeared first on CryptoSlate.

Circle reportedly adjusts USDC reserves to avoid US default risk

The world’s second-largest stablecoin issuer wants to reduce its exposure to potential US debt defaults. Stablecoin issuer Circle has reportedly adjusted its reserves treasury in an effort to reduce the risks of United States debt defaults.According to a May 10 Politico newsletter, Circle CEO Jeremy Allaire said that the firm has adjusted the mix of reserves backing its USD Coin (USDC) by switching to short-dated U.S. Treasuries to avoid getting caught up in a potential US d

Circle reserves no longer contain US Treasuries that mature after June

Circle CEO Jeremy Allaire said in a statement to Politico on May 10 that his stablecoin firm no longer holds long-term U.S. Treasuries. Specifically, Circle does not hold Treasuries that mature later than June 2023. Allaire explained the company’s reasoning by stating: “We don’t want to carry exposure through a potential breach of the ability […] The post Circle reserves no longer contain US Treasuries that mature after June appeared first on CryptoSlate.

Former SEC official calls for US ban on Tether, calls it a ‘mammoth house of cards’

Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark urged U.S. financial regulators to ban crypto firms from offering Tether USDT, describing the firm as a “mammoth house of cards.” In a May 9 long-form Twitter post, Stark touched on different issues plaguing Tether to drive home his point. According to him, his […] The post Former SEC official calls for US ban on Tether, calls it a ‘mammoth house of cards’ appeared first on CryptoSlate.

Tether attestation shows $1.5B worth of Bitcoin in reserves

Stablecoin issuer Tether (USDT) said it holds $1.5 billion worth of Bitcoin (BTC) in its reserves — equating to 2% of its total reserves. The stablecoin issuer further revealed that it held $3.39 billion in precious metals like gold. This accounts for 4% of its total reserves. A further breakdown of the reserves – provided […] The post Tether attestation shows $1.5B worth of Bitcoin in reserves appeared first on CryptoSlate.

Tether reports $1.5 billion net profit for first quarter in latest attestation report

Tether released its latest attestation report on Thursday, reporting a "net profit" of $1.48 billion in the first quarter of 2023. The post Tether reports $1.5 billion net profit for first quarter in latest attestation report appeared first on The Block.

MakerDAO boosts DAI lending capabilities via Spark Protocol roll-out

MakerDAO has introduced Spark, a DeFi lending protocol that enables users to borrow dai (DAI) stablecoin. The post MakerDAO boosts DAI lending capabilities via Spark Protocol roll-out appeared first on The Block.

US needs to regulate stablecoins to keep a strong dollar: Stellar CEO

The United States and the greenback will suffer if stablecoin regulations are not rolled out this year, Stellar Development Foundation's chief has claimed. United States financial regulators are tightening their grip on the crypto industry and the U.S. dollar has also been under pressure with countries distancing themselves from dollar hegemony, but the chief of Stellar says stablecoin regulation may solve that.In an April 11 Bloomberg interview, Denelle Dixon, the CEO and Ex

Crypto community criticizes Tether for blacklisting wallet that drained $20M from MEV bots

Several crypto stakeholders have criticized USDT issuer Tether for blacklisting a validator address that drained $25 million from maximal extractable value (MEV) bots. The MEV bots were drained of over $20 million on April 3 while executing a sandwich trade. The blacklisted address exploited a bug in the MEV-boost relay to back-run the bot’s transactions […] The post Crypto community criticizes Tether for blacklisting wallet that drained $20M from MEV bots appeared first on CryptoSlate.

USDC supply stabilizes following Silicon Valley Bank bank woes as tether cements its stablecoin dominance

After a wave of redemptions following the collapse of Silicon Valley Bank, the supply of stablecoin USDC on Ethereum has stabilized. The post USDC supply stabilizes following Silicon Valley Bank bank woes as tether cements its stablecoin dominance appeared first on The Block.

Can TUSD, USDP overtake BUSD? Analyzing the shifting stablecoin market

TUSD and USDP gained popularity in market share, with TUSD leading the race. The mean dollar invested age, market capitalization, and exchange reserve metrics show TUSD and USDP’s steady growth. Recently, the stablecoin market experienced significant changes, creating an opportunity for other stablecoins, such as Pax Dollar [USDP] and TrueUSD [TUSD], to grab the market […]

Tether USDT supply reaches $80B for 1st time in almost a year

Tether’s USDT supply crossed $80 billion for the first time in 11 months earlier today, nearing its all-time high of $83.13 billion. In 2023, USDT’s supply increased by almost $14 billion in less than 100 days from the $66.2 billion it recorded at the start of the year. This growth cements USDT’s market dominance among […] The post Tether USDT supply reaches $80B for 1st time in almost a year appeared first on CryptoSlate.