Tag: Stablecoin

Tether’s Attempt to Block CoinDesk’s Request for Stablecoin Reserve Records Dismissed by New York Court

A New York judge on Friday rejected an attempt by iFinex and related companies, which include include cryptocurrency exchange Bitfinex and stablecoin issuer Tether, to block CryptoX’s request for information about the financial reserves backing the USDT token. Source AttemptBlockCoinDesk039sCourtDismissedRecordsRequestReserveStablecoinTether039sYork CryptoX Portal

Stablecoin issuer Paxos reportedly probed by New York regulators

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Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department of Financial Services (NYDFS). A “person familiar with the matter” told Bloomberg in a Feb. 10 report that the exact motive behind the probe is currently unclear. An NYDFS spokesperson declined to comment on ongoing investigations but noted that the department is broadly working to protect consumers from risks associated with investing in the cryptocurrency market: “The department is in continuous contact with regulated…

Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits – Altcoins Bitcoin News

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Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK. Aave Invites Programmers to Test GHO Before Mainnet Deployment On Thursday, Aave Companies announced the launch of its native stablecoin GHO on the Ethereum Goerli testnet. The company also released the open-source codebase on Github. The developers of Aave are inviting programmers and prospective integrators to begin testing…

Decentralized Finance Protocol MakerDAO Integrates Blockchain Data Provider Chainlink to Maintain DAI Stablecoin Stability

“The advancement of the technology backing stablecoins is a necessary component to unlock the future of finance,” said Johann Eid, vice president of Go-To-Market at Chainlink Labs, the developer firm behind Chainlink. “As more and more traditional financial institutions partner with MakerDAO and assess the applicability of DeFi, the required underlying infrastructure becomes increasingly complex,” he said about the integration. Source

Aave Deploys Native Stablecoin GHO on Ethereum Testnet

Prior to the testnet release, the GHO deployment was audited by blockchain code auditing firms Open Zeppelin, SigmaPrime, ABDK, and it is currently under audit by Certora, the press release said. The protocol also started a Bug Bounty program which encourages community members to discover and report security vulnerabilities for up to $250,000 reward. Source