Tag Archives: Stablecoins

Seychelles-headquartered crypto exchange – Huobi Global – has been in trouble for quite some time now, which has translated into losing significant market share. The company has been mired in controversy for allegedly shutting down internal com and feedback channels and canceling various employee benefits, among other things. Its market share is also under threat from rival companies. According to the latest study by data provider Kaiko, Huobi’s market share declined from 22%...

The cryptocurrency firm – Juno – advised its users to withdraw their assets and store them in self-custody wallets or sell their holdings for cash because of “uncertainty” with its partner. The company plans to solve the issues by finding a new associate. A Warning Before the Storm? In a recent Twitter thread, Juno revealed that its custody partner has been experiencing certain problems. As such, the entity temporarily halted cryptocurrency purchases on its platform and...

Stablecoins have continued to play a very critical role in the crypto economy. The ongoing bear market also demonstrated that dollar-pegged coins like USDT and USDC witnessed a parabolic growth in market cap this year. However, top stablecoin issuers seemingly took a break from printing in December amidst a great deal of market turmoil and increased scrutiny. According to data from the ‘Stablecoin Printer,’ USDT, USDC, BUSD, and TUSD, have not been printed during the last...

Blockchain protocol Coti announced the successful hard fork event – MultiDAG 2.0 – that aims to transition the ecosystem from a single currency infrastructure to a multi-token network. In a press release shared with CryptoPotato, Coti also revealed the launch of the Mainnet on December 29th, during which Explorer 2.0 was also deployed alongside the Bridge 2.0 wallet app. In a statement, the team behind the protocol said, “This launch signifies a massive step for the crypto...

Waves blockchain platform founder, Sasha Ivanov, announced plans to launch a new stablecoin as Waves-backed Neutrino Dollar (USDN) failed to secure its peg. As per the Twitter update, Ivanov vowed that the new stablecoin would be “undepeggable.” The Waves founder also revealed that there will be a “USDN situation resolution plan set in motion before” but provided no details with regard to the timeline. “It’s just it’s time to create a protocol more attuned to the current...

Coinbase founder and CEO Brian Armstrong, for one, believes that ideal crypto regulations should start with centralized actors since most of the damage to the consumers has been done by these entities. In a recently released “realistic blueprint,” Armstrong highlighted the need to pursue legislation early instead of waiting for something comprehensive and perfect. Regulations should initially focus on centralized actors in crypto, such as – stablecoin issuers, exchanges, and...

On December 15, the Stellar Development Foundation (SDF) announced its partnership with the United Nations High Commissioner for Refugees (UNHCR) to pilot a digital cash disbursement system powered by Stellar to send money to Ukrainians in need. UNHCR is the United Nations agency tasked with protecting refugees and those displaced by persecution or political conflict. Stellar will focus on instantly delivering the UN’s aid via the “Stellar Aid Assist” pilot project. It...

Shahaf Bar-Geffen – CEO of COTI, a stablecoin development company – revealed the launch date for Cardano’s new algorithmic stablecoin at Cardano Summit on Monday.  After a successful audit, the over-collateralized DJED token will go live in January 2023. What is DJED? DJED is Cardano’s attempt to create a price-stable digital asset backed by ADA – the network’s native cryptocurrency.  By sending ADA to a given smart contract address on Cardano, users will receive the same...

USDC issuer Circle announced plans to expand native support of its Euro-backed stablecoin – Euro Coin (EUROC) –  to the Solana blockchain in the first half of 2023. Sheraz Shere, Head of Payments at Solana Labs, said the availability of EUROC on Solana will set the scene for new use cases for instant foreign exchange, offering optionality for traders with a new base currency while enabling lending and borrowing with the stablecoin. FTX to Support Euro Coin’s Deposits and...

The hyperinflation, the collapse of the local banking system, and the significant depreciation of the currency prompted numerous Lebanese residents to embrace cryptocurrencies, including stablecoins. Some locals have also focused on bitcoin mining since they can use cheap hydropower from rivers and generate “fresh dollars.” What Triggered the Collapse? Lebanon, considered one of the most developed countries in the Middle East before the 1970s, currently struggles with...