Stablecoins, central bank digital currencies and the new rails of digital cash.
Ripple CEO Brad Garlinghouse is facing substantial criticism for his remarks about Tether, stating, “The U.S. government is going after Tether, that is clear to me.” Garlinghouse made these comments during the May 10 episode of the World Class podcast while discussing the potential for a future black swan event. In response, Tether CEO Paolo … Read more
Tether, the largest issuer of stablecoins globally, has generated an extra 1 billion USDT tokens on the Ethereum blockchain, sparking discussions about a possible surge in the market. This development aligns with the crypto community’s keen anticipation of the U.S. Securities and Exchange Commission’s (SEC) impending decision regarding a spot Ethereum exchange-traded fund (ETF), slated … Read more
Hex Trust Group, a prominent crypto custodian headquartered in Hong Kong, has introduced USDX, marking the inaugural native stablecoin on the layer-1 blockchain Flare. First Native Stablecoin Released by Hex Trust on Layer-1 Blockchain Flare This stablecoin can be staked on the Flare blockchain and is backed 1:1 by US dollars or comparable assets. The … Read more
Tether’s recent revelation that it holds more US Treasuries than Germany has sparked discussions about stablecoin regulation, as its influence in the digital assets realm grows. In the first quarter, Tether, the leading stablecoin issuer, reported a profit of $4.52 billion. Its financials as of March 31 revealed $91 billion in direct and indirect US … Read more
Kraken, a prominent cryptocurrency exchange, is considering removing Tether’s USDT stablecoin from its European platform due to forthcoming regulations from the European Union. Marcus Hughes, Kraken’s global head of regulatory strategy, confirmed this possibility in a recent interview with Bloomberg. The European Union is set to introduce a new regulatory framework for digital assets, known … Read more
Tether, the creator of USDT, has utilized its treasury to generate a substantial volume of its stablecoin. According to on-chain data, Tether Treasury produced 1 billion USDT on May 16, specifically at 16:50 UTC. Due to Tether’s dominant position in the market, there is speculation that this significant issuance of USDT could influence movements within … Read more
The cryptocurrency market has been experiencing some turbulence lately, but a recent surge in stablecoin market capitalization suggests a potential comeback could be on the horizon. Stablecoins as a Market Sentiment Gauge Stablecoins, cryptocurrencies pegged to real-world assets like the US dollar, are often seen as a gauge of investor sentiment in the broader cryptocurrency market. When investors are … Read more
BVNK, a provider of payment infrastructure, has announced the incorporation of the PayPal USD (PYUSD) stablecoin, issued by Paxos Trust Company, into its payment system. This integration enables businesses to utilize PYUSD on BVNK’s platform, which supports various digital and fiat currencies. Moreover, as an authorized member of the PYUSD ecosystem, BVNK can directly generate … Read more
Authorities in Sichuan province have effectively disrupted a significant underground banking operation linked to smuggling activities valued at 13.8 billion yuan, approximately $1.9 billion. As reported by local news outlets, the illicit network was involved in a range of illegal endeavors, leveraging Tether’s stablecoin USDT to aid in the smuggling of pharmaceuticals, cosmetics, and the … Read more
Circle, a stablecoin issuer, intends to shift its legal headquarters from the Republic of Ireland to the United States. According to a report from Bloomberg on Wednesday, the company has filed court documents for this relocation. This move comes after Circle submitted plans for an initial public offering to the US securities regulator in January. … Read more