Tether Launches Full USDT Reserve Audit
Tether has engaged a “Big Four” auditing firm for its first full financial audit, addressing long-standing concerns about the backing of its $USDT stablecoin. #Update #Crypto $USDT
Stablecoins
Related to cryptocurrencies pegged to stable assets like fiat currencies or gold to reduce volatility.
Stablecoin Yield Faces Restrictive CLARITY Act
Crypto industry leaders criticize new CLARITY Act language restricting stablecoin yields, limiting platforms from offering interest-like rewards. The bill allows activity-based rewards but is seen as overly restrictive. #Update #Crypto $USDC
Stablecoin Yield Banned Under Clarity Act
Senators Angela Alsobrooks and Thom Tillis revealed a revised stablecoin yield provision in the Digital Asset Market Clarity Act, banning rewards on balances, potentially stalling crypto industry progress. #Update #Crypto
Stablecoin Crashes 74% After $25M Exploit
Resolv Labs’ USR stablecoin depegged, crashing over 70% after an $80M exploit involving a compromised key; $25M was cashed out. #Breaking #Crypto #DeFi
Ethereum Exploit Triggers $23M Stablecoin Depeg
Resolv Labs halted its DeFi protocol after a $23M exploit allowed minting of unbacked USR stablecoins, causing a depeg. #Breaking #Crypto #DeFi
Stablecoin USR Crashes After $25M Hack
A vulnerability in @ResolvLabs’ smart contract led to the creation of 80 million unbacked USR tokens, causing its price to drop to $0.025 after a $25M hack; protocol functions paused for recovery. #Breaking #Crypto $USR (-8) ↘
Stablecoin Plummets as Attacker Mints Millions
@ResolvLabs’ stablecoin USR lost its $1 peg after an attacker minted 50 million unbacked tokens, causing the price to crash to 2.5 cents before recovering to 87 cents. #Breaking #Crypto $USR (-8) ↘
Stablecoin Plummets as Attacker Mints Millions
An attacker exploited @Resolv Labs’ stablecoin, minting 80 million tokens and cashing out at least $25 million, causing the stablecoin to depeg. #Breaking #Crypto $USDT
Stablecoin Yields Approved by US Senators
U.S. Senators and the White House have reached a principled agreement on stablecoin regulations, addressing conflicts over yields, potentially advancing the stalled CLARITY Act. #Update #Crypto $USDC
Coinbase Competes for AI Stablecoin Deal
@Coinbase is competing with @Cloudflare to create a stablecoin for AI transactions, leveraging its Base network and USDC. This move positions them in the AI payments sector. #Update #Crypto $USDC
Bitcoin Rally Boosted by $2.2B USDT Inflow
Trade[XYZ] secures a license from S&P Dow Jones Indices to launch a 24/7 perpetual S&P 500 futures contract on Hyperliquid, enhancing access and liquidity for investors. #Update #Crypto $BTC
Crypto Bill Compromise on Stablecoin Yields
Senator Tim Scott anticipates a stablecoin yield compromise by week’s end, crucial for advancing crypto market structure legislation. #Update #Crypto
Stablecoin Yield Compromise Proposal Expected Soon
Senator Tim Scott anticipates a stablecoin yield compromise proposal soon, addressing a major regulatory hurdle. This could influence $USDT and $USDC adoption. #Update #Stablecoin
Stablecoin Acquisition: Mastercard Buys BVNK for $1.8B
@Mastercard is acquiring stablecoin startup BVNK for up to $1.8 billion, aiming to integrate fiat and blockchain systems, enhancing digital currency applications and transaction efficiency. #Update #Crypto $USDC