Tag Archives: Stablecoins

Market analysts anticipate the US Securities and Exchange Commission (SEC) to approve multiple spot Bitcoin ETFs in rapid succession. This has created a tense environment among applicants, particularly as the frontrunner stands to gain a significant first-mover advantage by attracting a substantial portion of everyday investors. As the race heats up, the traditional firms appear to be actively engaging in this ETF trade. Big Bets on Spot Bitcoin ETF According to Reflexivity’s...

The United Kingdom is set to implement new regulations allowing authorized financial firms to work with overseas stablecoins. The new regulatory framework will be supervised by the Bank of England, the Financial Conduct Authority (FCA), and the Payment Systems Regulator (PSR) with a focus on minimizing potential risks and ensuring customer protection. UK to Permit FCA Authorized Firms to Collaborate with Oversees Stablecoins According to the UK Stablecoins Regulation, the UK...

The United States is the world’s largest cryptocurrency market, accounting for 24.4% of global transaction activity, according to a recent report by Chainalysis. The report, released on October 23, revealed that there was an estimated $1.2 trillion in value received on-chain between July 2022 and June 2023 in the U.S. Moreover, institutional activity makes up 76.9% of North America’s crypto transaction volume, and activity is split between centralized exchanges and DeFi, it...

Although Taproot took some time to gain momentum, its use cases have continued to grow since integrating Bitcoin-based Ordinal inscriptions and its November 2021 implementation with Bitcoin. This article will delve deeper into the use cases for Taproot, focusing on Ordinal inscriptions and stablecoins built on Bitcoin, to better understand the innovative new features it brings to the table. Bitcoin-Based Ordinal Inscriptions Ordinal inscriptions present a groundbreaking...

In the latest twist, Terraform Labs, a defunct crypto network, is accusing Citadel Securities of participating in intentional efforts to destabilize its stablecoin TerraUSD classic (USTC) in 2022, eventually leading to its demise. This comes as both Terraform Labs and its founder, Do Kwon, continue to face legal troubles. Terraform Labs Accusing Citadel In a document filed in a United States District Court in the Southern District of Florida on Oct. 10, the defunct crypto...

With the global cryptocurrency market struggling with the bears seemingly in control, stablecoins are also facing a tough time. Over the past 18 months, the stablecoin market capitalization has experienced a consecutive decline in valuation, Binance’s research division revealed. Stablecoin Market Cap Drops to $123.8B Citing on-chain analysis on the blockchain price tracking platform DeFiLlama, Binance Research explained that the past month saw an adverse record, setting the...

Decentralized finance (DeFi) protocol Linear Finance has fallen victim to an attack that resulted in the complete depletion of liquidity in its Linear USD (LUSD) token. Following the incident, Linear Finance’s team apologized to the community and implemented various safety measures. LUSD Price Collapses to Zero On Sept. 21, Linear Finance announced it had experienced a security breach, leading to the complete drainage of all LUSD liquidity on the PancakeSwap and Ascendex...

After announcing its new payment stablecoin last month, PayPal revealed on Wednesday that Paypal USD (PYUSD) is now available to Venmo users for transacting with peers. Initially available to “select users,” access will expand to all Venmo users in the coming weeks, according to the company’s announcement. Venmo, a mobile payments app owned by PayPal, will allow users to buy and send PYUSD to other Venmo users and PayPal wallets. PayPal touts free stablecoin transfers between...

In a recent interview with Yahoo Finance, Coinbase CEO Brian Armstrong shared insights into the company’s plans and its interest in flatcoins. Armstrong also shared more details on the future of cryptocurrency and the necessary next steps amid growing regulatory scrutiny. Armstrong Discusses Coinbase’s Future Plans Coinbase’s exec talked about ‘flatcoins’ in the interview, which is an emerging concept that has yet to gain much traction in mainstream crypto discussions....

On the 29th of August, Jeremy Allaire – the CEO of Circle, the company that mints and holds governance over USDC – announced that the popular stablecoin would be coming to Base and Optimism within a week. The launch was part of Circle’s plan to improve the utility of USDC by bringing the stablecoin to more blockchains in a native token, eliminating the need for bridged Ethereum tokens. The decision came shortly after the announcement of a new super chain agreement with...