In the past 12 days, the stablecoin sector has experienced a growth of $4.95 billion, reaching a new 2024 high of $149.03 billion in market valuation. Among various dollar-tied tokens that have seen their supply numbers go up over the last 30 days, Ethena’s USDE stands out with a 376% increase in its supply during […] Source CryptoX Portal
The American central bank’s emergency fund for embattled banks has seen its highest level of distressed asset redemptions since its inception three months ago. The emergency lending program — known as the Bank Term Funding Program (BTFP) — was introduced in March amid the United States banking crisis which saw the collapse of Silicon Valley Bank, among others. The fund essentially is aimed at backstopping banks and other depository firms. According to data from the Federal Reserve Bank of St. Louis, the Fed’s Bank Term Funding Program (BTFP) has reached a record…