Related to cryptocurrencies pegged to stable assets like fiat currencies or gold to reduce volatility.
Ripple burns 185 RLUSD tokens to manage stablecoin supply, following minting on XRP Ledger and Ethereum. RLUSD, pegged 1:1 to USD, ensures stability. XRP price at $0.5731 shows upward potential. Ripple’s move highlights blockchain interoperability.
DMM Crypto partners with Progmat Inc. to launch a Japanese regulation-compliant stablecoin on the Progmat Coin platform, integrated into the Seamoon Protocol. This digital asset will facilitate payments within DMM Group’s entertainment offerings, enhancing cross-border transactions and cryptocurrency adoption.
Wyoming to launch a state-backed stablecoin pegged to the US dollar in 2025, supported by US Treasury bills and repurchase agreements. This initiative aims to boost Wyoming’s economy and reinforce its leadership in digital asset regulation.
Tether CEO confirms no plans for a proprietary blockchain, will rely on Ethereum and Tron. $ETH holds 57% of TVL. Tether authorized 33B USDT, earning $5.2B profit in H1. Plans $1B investment in AI, mining, and data by 2024.
Ripple mints 385 RLUSD stablecoins, pegged 1:1 to USD, on $ETH and $XRP Ledger. The stablecoin is fully backed by USD deposits with monthly audits. Testing is ongoing; regulatory approval pending. Ripple cautions against potential scams.
Russia to introduce two crypto exchanges in Moscow and St. Petersburg, alongside a BRICS stablecoin tied to the RMB and a currency basket. Regulatory and tech challenges arise amid sanctions and lack of unified legal framework.
$TRX’s USDD stablecoin shifts focus from Bitcoin, transferring 4,000 BTC to HTX and reducing BTC reserves by 42%. Now 99% backed by $TRX, USDD’s collateralization rate exceeds 300%. Justin Sun aims to boost USDD’s competitiveness.
MakerDAO introduces NewStable and NewGovToken to upgrade $DAI and $MKR. NewStable and DAI coexist with a 1:1 conversion rate, targeting different use cases. NewGovToken enhances community participation with a 1 MKR to 24,000 NGT exchange rate.
$MKR and $DAI tokens upgraded by MakerDAO. NewStable and NewGovToken launched for better utility and community engagement. NewStable focuses on mass adoption while DAI remains for crypto use. NewGovToken has a 1 MKR to 24,000 NGT exchange rate.
Kamala Harris faces backlash over support for Biden’s 44.6% capital gains tax and 25% tax on unrealized gains, with crypto leaders questioning her pro-crypto stance. Critics argue the policies harm U.S. businesses and innovation. #Economy #Crypto
Mercado Pago, a subsidiary of @MercadoLibre, launches MELI Dollar, a US Dollar stablecoin, for Brazilian users. The stablecoin can be bought and sold with no fees via the Mercado Pago app, offering financial stability amid economic volatility.
Paul Ryan backs stablecoin regulation to tackle $34.7 trillion U.S. debt crisis. Stablecoins, pegged to assets like the USD, are vital for DeFi and global financial stability. Bipartisan support from @PatrickMcHenry and @RepMaxineWaters aims to establish a legal framework. #economy
? Tether mints 3B $USDT in a week, with 1.75B flowing to major exchanges like @krakenfx, @binance, and @coinbase. This significant liquidity influx may signal upcoming market volatility and potential crypto bull run. #CryptoNews #Tether
? Tether launches new $AED stablecoin, pegged 1:1 to UAE Dirham, to streamline regional transactions and trade, reduce fees, and mitigate currency risks. This move aligns with Abu Dhabi’s proposed regulatory framework for fiat-referenced tokens. #CryptoNews
