Related to cryptocurrencies pegged to stable assets like fiat currencies or gold to reduce volatility.
StrathCole warns Terra Luna Classic’s Tax2Gas upgrade by Genuine Labs may cause issues like impacting contracts & reduced rewards. He suggests a testnet deployment first. Despite concerns, $LUNC prices rose 1%, and the community believes the upgrade could boost $LUNC to $1. #Update
Tether CEO Paolo Ardoino warns that Europe’s MiCA regulations, particularly the 60% cash reserve requirement, could create systemic risks for banks, potentially leading to liquidity pressures and bank failures during large-scale redemptions. #CryptoNews
Swiss regulator FINMA mandates stablecoin issuers verify identities of all token holders to mitigate risks. This guidance, effective July 26, aims to enhance regulatory clarity. For more info, visit FINMA Guidance.
Swiss watchdog @FINMA mandates identity verification for stablecoin holders from July 26. Issuers must verify token holders and beneficial owners, with banking licenses required for public deposits. Protections also include depositor claims in issuer bankruptcy. #CryptoRegulation
WSPN partners with @CanzaFinance to bring blockchain financial services to Africa. Using $WUSD stablecoin, they aim to boost financial inclusion by converting local currencies for remittances and savings. Canza’s Baki platform maintains 1:1 parity with central bank rates, combating currency devaluation. #Finance #Blockchain
Riot Platform has acquired Block Mining for $93 million, boosting its self-mining hashrate by one exahash per second, enhancing competitiveness and solidifying its position in the cryptocurrency mining sector.
Riot Platforms (@RiotPlatforms) acquires Block Mining for $92.5M, increasing its Bitcoin mining capacity by 60 MW, with plans to reach 110 MW by 2024. This boosts total capacity to 2 GW, aiming for a 16 EH/s hash rate by 2025. #Update #BitcoinMining
Riot Platforms, Inc. acquires Block Mining, Inc. for $92.5M to boost hash rate. The deal includes 60 MW capacity, aiming to hit 100 EH/s by 2025. Analysts raise 2024 revenue estimates to $344.2M. #CryptoNews #Update
Tether minted $1B in new $USDT tokens on Tron without fees, pushing the stablecoin market cap over $160B. This move signals rising demand and confidence in stablecoins. #Update #CryptoNews
Chinese e-commerce giant @JD_Central to launch Hong Kong dollar stablecoin, JD Stablecoin, via subsidiary JD Coinlink. Pegged 1:1 to HKD, backed by liquid assets. #Fintech #CryptoNews
The Terra Classic community has asked @eToro and Terraform Labs CEO Chris Amani for clarity on $LUNC delisting amid trading difficulties linked to Terraform Labs’ bankruptcy. Despite concerns, $LUNC and $USTC prices rose 2% and 5% respectively in the last 24 hours. #Update
Senator @CynthiaMLummis opposes a 30% energy tax on Bitcoin miners, arguing it risks pushing the industry overseas and stifles innovation. Up to 52.6% of Bitcoin mining is emissions-free, and the tax targets even off-grid sources. #CryptoNews
JDCom is launching JD Stablecoin, a new stablecoin pegged 1:1 to the Hong Kong dollar, via subsidiary JD Coinlink. Backed by liquid assets and regulated under HKMA’s sandbox, this move could impact digital payments and cross-border transactions. #Update #Fintech #JDCom
?? The Russian parliament passes a bill to use crypto for international trade and legalize crypto mining, effective Sept 1, 2024. This move aims to counteract Western sanctions and boost trade with China, India, and Turkey. #CryptoNews #Update
