Ripple mints 385 RLUSD stablecoins, pegged 1:1 to USD, on $ETH and $XRP Ledger. The stablecoin is fully backed by USD deposits with monthly audits. Testing is ongoing; regulatory approval pending. Ripple cautions against potential scams.
Russia to introduce two crypto exchanges in Moscow and St. Petersburg, alongside a BRICS stablecoin tied to the RMB and a currency basket. Regulatory and tech challenges arise amid sanctions and lack of unified legal framework.
$TRX’s USDD stablecoin shifts focus from Bitcoin, transferring 4,000 BTC to HTX and reducing BTC reserves by 42%. Now 99% backed by $TRX, USDD’s collateralization rate exceeds 300%. Justin Sun aims to boost USDD’s competitiveness.
MakerDAO introduces NewStable and NewGovToken to upgrade $DAI and $MKR. NewStable and DAI coexist with a 1:1 conversion rate, targeting different use cases. NewGovToken enhances community participation with a 1 MKR to 24,000 NGT exchange rate.
$MKR and $DAI tokens upgraded by MakerDAO. NewStable and NewGovToken launched for better utility and community engagement. NewStable focuses on mass adoption while DAI remains for crypto use. NewGovToken has a 1 MKR to 24,000 NGT exchange rate.
Mercado Pago, a subsidiary of @MercadoLibre, launches MELI Dollar, a US Dollar stablecoin, for Brazilian users. The stablecoin can be bought and sold with no fees via the Mercado Pago app, offering financial stability amid economic volatility.
Paul Ryan backs stablecoin regulation to tackle $34.7 trillion U.S. debt crisis. Stablecoins, pegged to assets like the USD, are vital for DeFi and global financial stability. Bipartisan support from @PatrickMcHenry and @RepMaxineWaters aims to establish a legal framework. #economy
? Tether mints 3B $USDT in a week, with 1.75B flowing to major exchanges like @krakenfx, @binance, and @coinbase. This significant liquidity influx may signal upcoming market volatility and potential crypto bull run. #CryptoNews #Tether
? Tether launches new $AED stablecoin, pegged 1:1 to UAE Dirham, to streamline regional transactions and trade, reduce fees, and mitigate currency risks. This move aligns with Abu Dhabi’s proposed regulatory framework for fiat-referenced tokens. #CryptoNews
Tether ($USDT) teams up with Phoenix Group and Green Acorn Investments to launch an AED-pegged stablecoin, fully backed by UAE liquid reserves. This aims to streamline international trade, reduce transaction fees, and hedge against currency volatility.
? Terra’s Chapter 11 bankruptcy hearing is set for Sept. 19, 10:00 AM ET. $LUNA price rose 2%, $LUNC trading volume surged 38%. Terra plans to burn tokens to reduce supply and potentially boost value. Investors, stay tuned! ? #CryptoNews
Gemini to delist $LUNC, $SNX, $QRDO, and $ZBC amid market review. Users must withdraw assets by Sept 20. Crypto community confused by Gemini’s naming of wLUNA as $LUNC. This may prompt other exchanges to reassess listings.
Tether ($USDT) boosts liquidity with $33B issuance on Ethereum and TRON in 2023. Market cap hits $116.93B, holding 69.49% dominance. Strategic reserve replenishment enhances stability and innovation, benefiting the broader crypto community. #Cryptocurrency #Blockchain
Tether integrates $USDT with the Aptos blockchain, aiming to slash transaction fees and boost efficiency. This move follows USDT’s support on the TON network, potentially revolutionizing the stablecoin market by making transactions faster and more cost-effective. #CryptoNews
