Tag: Stablecoin

New Study Reveals Best Stablecoin, Why DAI Took The Crown

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Decentralized stablecoin DAI, native to Maker protocol, might become a major leader in the sector over the coming years. The digital asset was the most stable of the stablecoin in a period of 9 months, according to research published by Best Brokers. A stablecoin is a digital asset whose value is pegged to the U.S. dollar in a 1:1 parity. The concept is controversial in the crypto industry, as some of the most popular and valuable stablecoins have de-pegged and become unstable at some point except for those tokens considered…

Stablecoin Issuer Tether Fulfills Promise by Reducing Commercial Paper Holdings Down to Zero – Bitcoin News

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On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company’s commercial paper holdings down to zero. The company has said it would reach this goal for a while now, and Tether says that shrinking commercial paper holdings down to zero “demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market.” Tether Axes $30 Billion Worth of Commercial Paper Holdings, Firm Leverages US T-Bills Instead The company behind the largest stablecoin by market capitalization, Tether, has revealed that USDT’s reserves…

Rep. McHenry gives progress report on stablecoin legislation, says it’s an ‘ugly baby’

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Patrick McHenry, ranking member of the United States House of Representatives Financial Services Committee, thinks the “conversation has become unmoored” regarding financial technology and needs to return to solving real-world problems. He is currently in talks over legislation that may at least bring more clarity to stablecoins. Currently, there is no U.S. federal definition of digital assets or stablecoins, McHenry said, calling the situation “retrograde.” McHenry, House Financial Services Committee Chair Maxine Waters and the Treasury Department have been in negotiations for months on legislation to regulate stablecoins “in an…

Tether, el emisor de la stablecoin USDT, reduce a cero sus tenencias de papel comercial

Hasta el 30 de septiembre, las tenencias del Tesoro estadounidense de la empresa se situaban en 58,1% del total de su portfolio, en comparación con el 43,5% de finales de junio, escribió en un tuit a principios de este mes Paolo Ardoino, director de tecnología. En su última publicación, Tether no especificó qué porcentaje de su portfolio actual se mantiene en el Tesoro. Source

Russian stablecoin usage surged after Ukraine invasion: Report

According to Chainalysis data, Russia’s stablecoin usage has increased since the onset of the war, due partly to ordinary Russian citizens seeking to protect their assets. A new report from blockchain analytics firm Chainalysis has shown a surge in stablecoin usage in Russia following the Russian invasion of Ukraine, which has since seen sanctions and inflation impacting the country.  Released on Oct. 12, the report revealed that the share of stablecoin’s transaction volume on primarily Russian services increased from 42% in January to 67% in March following the invasion, and…

Tether stablecoin issuer freezes 8.2M USDT on Ethereum: Data

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Tether has frozen a total of 215 USDT addresses on Ethereum in 2022 so far, according to data compiled by ETH researcher Philippe Castonguay. Major stablecoin issuer Tether froze yet another batch of USDT on the Ethereum blockchain, freezing more than $8 million worth of the cryptocurrency. Crypto monitoring resource Whale Alert has identified several transactions that indicate Tether froze three USDT addresses on Oct. 10. According to data from transaction logs on Etherscan, the frozen addresses hold 3.4 million USDT, 1.95 million USDT and 2.9 million USDT. The addresses…

Decentralized Social Media’s DeSo Token Rallies Amid Stablecoin Plans

DeSo was trading around $17.82 at press time on a 25.6% daily jump, with strong spikes immediately preceding and following the platform’s stablecoin announcement at 1:04 PM eastern time Thursday, per CoinGecko. The token has a current market capitalization of $165 million, or one tenth of its peak total value last October. Source DecentralizedDeSoMediasPlansRalliessocialStablecoinToken CryptoX Portal