“Tether CEO Paolo Ardoino criticizes EU’s MiCA regulations mandating 60% reserves in bank deposits, arguing it risks stablecoin stability. Cites $110B $USDT market cap vs. EUR 100K deposit insurance. #CryptoRegulation #Update”
“Paxos launches Lift Dollar ($USDL) in Argentina, offering a 5% yield and daily payouts. Fully collateralized by U.S. dollars and regulated by ADGM. Aimed at benefiting the unbanked. #Crypto #Update”
Polkadot proposes reducing the minimum balance for $USDT and $USDC on its Asset Hub from $0.07 to $0.01 to boost stablecoin adoption. The move aims to make Polkadot more competitive in the stablecoin market. #Update
Justin Sun, founder of Tron, announces gas-free P2P stablecoin transfers launching Q4 2024. Initially on Tron, then Ethereum and other EVM networks. This could boost mass adoption by large companies. $TRX #Update
In India, $USDT trades at a 5-12% premium due to strict regulations, rupee volatility, and high transaction costs, says @CoinSwitchKuber. @NischalShetty of WazirX cites high demand and regulatory challenges. #Crypto #Update
“Peter Brandt warns of potential disaster for $USDT, citing transparency issues, while Willy Woo highlights Tether’s resilience and shift to over-collateralized assets. Future remains uncertain amid illegal activity allegations. #Crypto #Update”
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
“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 (@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
.@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
