Related to cryptocurrencies pegged to stable assets like fiat currencies or gold to reduce volatility.
S&P Global Ratings assessed stablecoins, rating @circle’s $USDC highest with a score of 2 for strong reliability. Tether’s $USDT received a 4 due to transparency issues. This highlights the need for solid regulatory frameworks. #Crypto #Update
Tether halts $USDT minting on EOS and Algorand, effective immediately. Users have one year for redemptions. This move aligns with Tether’s focus on security and community-driven support. #Update #CryptoNews
“Breaking: Tether halts $USDT issuance on Algorand and EOS, citing community interest and efficiency. Redemptions continue for 12 months. Supported blockchains include Ethereum, Tron, and Solana. #Crypto #Update”
Terra Classic remains secure despite the recent hack on $LTC Phoenix-1 blockchain due to proactive updates by Genuine Labs. The incident highlights the importance of timely security patches and ecosystem-wide vigilance. #BlockchainSecurity #Update
State Street Corporation is exploring the launch of a stablecoin and deposit token to boost cross-border payment efficiency using blockchain. This move marks a key shift in integrating digital assets with traditional finance. #Update #Blockchain @StateStreet
Tether’s $USDT supply on @ton_blockchain surged by $580M in under two months, reaching $519M. Growth driven by ease of transactions and increased investor interest. Binance’s integration also expanded access. #Update #CryptoNews
Tether (@Tether_to) reports record $5.2B profit in H1 2024, with $1.3B in Q2, driven by investments in U.S. Treasuries. $USDT’s market cap hits $114B. Regulatory scrutiny continues as @Circle secures Europe’s first stablecoin license. #CryptoNews
.@JDCom to launch JD Stablecoin, pegged 1:1 to the Hong Kong dollar. Backed by liquid assets in licensed financial institutions, this move highlights Hong Kong’s ambitions as a financial innovation hub. #Stablecoin #Finance
Elixir Network launches decentralized stablecoin deUSD, backed by $1B liquidity. Minted using stETH and sDAI, deUSD is set to enhance liquidity and TVL across DEXs. It operates with on-chain, non-custodial liquidity. #DeFi #Update
Tether CEO Paolo Ardoino urges investment in decentralized tech after a global IT outage on July 19. He criticizes centralization’s fragility and highlights Tether’s efforts with Holepunch to build resilient, disruption-proof systems. #Decentralization #Update
.@BIS_org and @bankofengland launch Project Pyxtrial to monitor stablecoin reserves, offering real-time data on liabilities and assets. This initiative aims to enhance regulatory oversight and secure the digital asset market. #Stablecoin #Update
WSPN partners with Canza Finance to launch the WUSD stablecoin in Africa, enhancing financial inclusion with blockchain-based services. The WUSD, pegged to the USD, ensures stable transactions and fights currency devaluation. #Update #CryptoNews #DeFi
The BIS and Bank of England launched Project Pyxtrial to monitor stablecoin reserves, providing near real-time data on liabilities and assets. This initiative aims to enhance regulatory oversight and detect issues proactively.
The Phoenix-1 blockchain was hacked due to an outdated IBC-go version. Terra Classic remained secure after a major upgrade by Genuine Labs, highlighting the importance of timely updates and minimizing forks for better security.
