Tag: Stablecoin

Binance to Drop USDC Trading Pairs, Plans to Auto-Convert Specific Stablecoin Balances to BUSD – Bitcoin News

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Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

House’s Stablecoin Bill May Face Fatal Delays for 2022 Progress

“If it’s true that the bill isn’t moving to markup, we’re glad committee leadership has decided not to move forward with what likely would have been a problematic proposal,” said Mark Hays, a policy analyst for Americans for Financial Reform, who advocates a “slower, more deliberate approach” and says there is already “a great deal regulators can do right now to address the risks posed by stablecoins to consumers and the market.” Source

Waves Founder Defends USDN Stablecoin Depegging, Trashes Fears of a UST-Like Implosion; Bitcoin Burrows in Above $20K

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With Ethereum’s long-awaited transition to proof-of-stake (PoS) fast approaching, blockchain analytics firm Coin Metrics is out with a new report explaining the move, along with data that provides some insights about user behavior. Lucas Nuzzi, Coin Metrics head of research and development, joined “First Mover” to discuss the findings. Glen Goodman, eToro crypto consultant, provided his bitcoin and crypto markets outlook. Also, Mythical Games CEO John Linden took a look at the state of the non-fungible token (NFT) market. Original

Bitcoin Stablecoin Supply Ratio Is Approaching A “Buy” Signal

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On-chain data shows the recent trend in the Bitcoin Stablecoin Supply Ratio may suggest the crypto could see a buy signal soon. Bitcoin Stablecoin Supply Ratio RSI 14 Is Near A “Buy” Signal As explained by an analyst in a CryptoQuant post, whenever the SSR RSI has gone below a value of 25 during recent years, the crypto has observed a buy signal. The “Stablecoin Supply Ratio” (or SSR in brief) is an indicator that measures the ratio between the market cap of Bitcoin, and that that of all stablecoins.…

Itau Unibanco Selected by Central Bank of Brazil to Build Real-Pegged Stablecoin Solution – News Bitcoin News

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Itau Unibanco, one of the biggest bank conglomerates in Brazil, has been selected by the country’s central bank to develop a system with a stablecoin pegged to the value of the Brazilian real. Itau’s system was one of the eight proposals selected by the Central Bank of Brazil as part of LIFT Lab, an annual initiative focused on financial innovation. Itau Unibanco to Develop Digital Real Stablecoin The Central Bank of Brazil is advancing in its pilot program for the launch of its central bank digital currency (CBDC),…

Step aside, Warren Buffett; stablecoin issuers hold more US debt than Berkshire Hathaway

Warren Buffett raised eyebrows this week when his firm, Berkshire Hathaway, upped its exposure to United States Treasury bills. If you’re one of the few remaining bulls out there, Buffett’s flight to safety is concerning because it signals that the Oracle of Omaha would rather get a 3% yield instead of playing the stock market. If equities go belly-up in the fall, as I’ve been predicting for months, expect Bitcoin (BTC) to follow.  Looking at the numbers, Berkshire’s T-bill exposure grew to $75 billion at the end of June, up…