Related to cryptocurrencies pegged to stable assets like fiat currencies or gold to reduce volatility.
Terra Luna Classic developers, including StrathCole and Genuine Labs, have finalized the tax distribution upgrade. Set for a chain halt at block height 19108180 on July 29, it aims to slow Oracle Pool depletion. $LUNC surged 27%, $USTC up 28%. #Update #CryptoNews
Tether CEO Paolo Ardoino urges investments in decentralized tech after a global IT outage highlights vulnerabilities in centralized systems. Resilient systems are crucial for stability. #Crypto #Updates
Bybit reports a 17.8% increase in USDT holdings, a 400% surge in USDC deposits, and a decrease in DAI by 33%. Meanwhile, $BTC and $ETH show modest gains of 5.62% and 0.46%. #Update #CryptoNews
Hong Kong’s ZA Bank now offers reserve banking services to stablecoin issuers under HKMA’s stablecoin sandbox. This includes notable participants like JD.com’s JINGDONG Coinlink and a consortium with Standard Chartered and Animoca Brands. #Update #Stablecoins
Hong Kong’s Monetary Authority unveils stablecoin sandbox participants, including Standard Chartered and Animoca Brands, to foster responsible stablecoin development. The sandbox, launched in March 2024, ensures a risk-controllable framework without handling public funds initially. This aligns with international standards for financial stability. #Update #stablecoin #HKMA
State Street Corporation is planning to launch a stablecoin and deposit token to boost global payment efficiency using blockchain technology. They aim to integrate digital assets into services and require regulatory approval amidst evolving US stablecoin laws. This move highlights their innovative approach in digital finance. #Update
State Street is developing a stablecoin pegged to the dollar and a deposit token for blockchain payments, similar to @PayPal’s PYUSD. This move highlights its commitment to digital assets despite uncertain U.S. regulations. #Blockchain #Update
Hong Kong to introduce stablecoin regulations by 2025 after receiving 100+ submissions. The framework will require issuers to obtain licenses, fostering a sustainable stablecoin ecosystem. This step coincides with China’s digital yuan pilot. #CryptoRegulation #Update
Plaintiffs renew lawsuit against @Tether_to and @bitfinex, alleging market manipulation of Bitcoin and other cryptos with unbacked USDT tokens. Despite previous accusations and a $18.5M settlement, Tether’s market cap hits $113B. #Update #CryptoNews
Victim of a $24M phishing attack recovers $9.3M in DAI after the scammer returned funds. The theft involved 9,579 $stETH and 4,850 $rETH tokens. #CryptoSecurity remains crucial with $290M lost to scams in 2023. #Update
The SEC has filed litigation against Consensys, claiming Terra Luna Classic ($LUNC), Polygon ($MATIC), The Sandbox ($SAND), Chiliz ($CHZ), and Decentraland ($MANA) are securities. The SEC says these tokens were marketed with profit promises and facilitated trading via MetaMask Swaps. #Update
Tether has frozen a Tron ($TRX) wallet with over $28M in USDT tied to Cambodian money laundering by Huione Group. Despite this, Huione still operates via other addresses. This highlights ongoing efforts to combat crypto fraud. #CryptoSecurity
Tether’s $USDT market share on CEXs fell from 82% to 74% this year, highlighting growing competition and regulatory challenges. Despite this, @Tether_to stays the top stablecoin with a market cap over $100B. #CryptoRegulation #Update
Terra Luna Classic nears a milestone with a 15.16% staking ratio and 1.025T $LUNC staked. A Binance wallet recently staked 1.3B $LUNC, showing strong community commitment. Developer Fragwuerdig’s Oracle Split logic aims to enhance staking rewards and network sustainability. $LUNC price up 1% to $0.00007175. #Update
