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
Trustee Plus eliminates fees for exchanging $USDT to $USDC and introduces USDC transfers on @solana. External USDC transfers now cost just 1 USDC, significantly lower than Ethereum’s $6.75 fee. CEO Vadim Grusha emphasizes affordability and accessibility. #CryptoNews
Binance is aiding the Terra Classic community with the $USTC revival plan, complementing its $LUNC burn campaign. Binance’s efforts have eliminated over 62 billion $LUNC tokens. The price of $LUNC rose by 1% to $0.00007192, and $USTC climbed by 0.50% to $0.01608. #CryptoNews
Tether announced it will stop accepting redemptions of $USDT and $EURT on Algorand, EOS, Omni, and Kusama blockchains starting Sep 1, 2025. Tokens on these blockchains will be frozen. Users should redeem or migrate their holdings. This follows Tether’s launch of $USDT on the Ton blockchain. #Update
Tether will halt USDT and EURT redemptions on Omni, Kusama, SLP, EOS, and Algorand by Sept 1, 2025, focusing on security and efficiency. Users should redeem holdings promptly. $USDT holds 69% market share. #Crypto
Binance will delist key margin pairs $BTC/$TUSD and $TUSD/$USDT on July 24, 2024. Isolated margin borrowing for these pairs halts on July 12, 2024. TUSD balances in Cross Margin Wallets convert to $USDT automatically, impacting new positions. #CryptoNews
Federal Reserve Chair Jerome Powell supports the bipartisan Lummis-Gillibrand Payment Stablecoin Act, aiming to regulate US dollar-linked stablecoins by year-end. The bill seeks to enhance transaction stability and security, despite concerns from Coin Center about innovation impacts. #CryptoRegulation
