stablecoin

  • Tether CTO Paolo Ardoino on taking the bull by the horn

    • February 2, 2023
    • Posted by: Bogdan
    • Category: stablecoin, Terra, tether
    No Comments

    Stablecoins have been under much scrutiny after the implosion of the third-largest stablecoin by market cap, TerraUSD (UST), in May 2022. The UST saga led to a lot of skepticism that caused consumers to question the safety of stablecoins.  In the seventh episode of Hashing It Out, Cointelegraph’s Elisha Owusu Akyaw (GhCryptoGuy) interviewed Paolo Ardoino,

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  • Tether CTO denies borrowing from bankrupt lender Celsius

    • February 1, 2023
    • Posted by: Bogdan
    • Category: Celsius, Cryptocurrencies, stablecoin, tether
    No Comments

    Tether (USDT) — the world’s largest stablecoin by market capitalization — has never received any loan from the bankrupt cryptocurrency lender Celsius, according to the chief technology officer. Paolo Ardoino, CTO at Tether and Bitfinex crypto exchange, took to Twitter on Jan. 31 to announce that Tether has “never borrowed from Celsius.” The tweet came

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  • UK Treasury publishes crypto framework paper: Here’s what’s inside

    • February 1, 2023
    • Posted by: Bogdan
    • Category: ICO, stablecoin, United Kingdom
    No Comments

    His Majesty’s Treasury published a long-anticipated consultation paper for the United Kingdom’s upcoming crypto regulation. The extensive 80-page document covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens (NFTs) and initial coin offerings (ICOs).  As stated by the HM Treasury, the proposals seek to place the U.K.’s financial services

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  • UK native stablecoin integrates into 18,000 ATMs nationwide

    • January 31, 2023
    • Posted by: Bogdan
    • Category: ATM, stablecoin, United Kingdom
    No Comments

    A partnership between Poundtoken and BitcoinPoint will make the country’s first 100% backed GBP stablecoin ($GBPT) accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step towards the U.K. becoming a “crypto hub” and is in line with the government’s push to use stablecoins for wholesale

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  • ADA-backed algorithmic stablecoin Djed launched on Cardano

    • January 31, 2023
    • Posted by: Bogdan
    • Category: Cardano, Cryptocurrencies, stablecoin
    No Comments

    Since the fall of the Terra (LUNA) algorithmic-stablecoin in mid-2022, many users in the crypto space have developed a weariness towards that particular asset class. The market for algorithmic stablecoins has dropped 10 times what it was at its all-time high prior to the Terra incident. However, this has not stopped developers on the Cardano

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  • Hong Kong will not tolerate algorithmic stablecoins in new regulation

    • January 31, 2023
    • Posted by: Bogdan
    • Category: Hong Kong, stablecoin
    No Comments

    In the key principles of its upcoming regulatory framework, the Hong Kong Monetary Authority (HKNA) didn’t find a place for algorithmic stablecoins. Instead, the chief financial regulator will demand all stablecoin issuers back up their values with underlying reserve assets at all times. On Jan. 31, the HKNA issued the consultation conclusion to the discussion

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  • Montenegro’s central bank teams up with Ripple on digital currency pilot project

    • January 30, 2023
    • Posted by: Bogdan
    • Category: CBDC, Central Bank, stablecoin
    No Comments

    Montenegrin Prime Minister Dritan Abazović has announced on Twitter that his country is pursuing a digital currency in conjunction with Ripple. Abazović met with Ripple CEO Brad Garlinghouse and vice president James Wallis at Davos. Wallis is Ripple’s vice president for central bank engagements and CBDCs. Abazović apparently had something like a central bank digital

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  • Fed policy to align bank oversight could limit crypto activities by state banks

    • January 27, 2023
    • Posted by: Bogdan
    • Category: Cryptocurrencies, Federal Reserve, stablecoin
    No Comments

    The United States Federal Reserve Board announced Jan. 27 that it was issuing a policy statement on limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen by the Office of the

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  • Moody’s to build scoring system for stablecoins: Report

    • January 26, 2023
    • Posted by: Bogdan
    • Category: Bloomberg, Finance, Financial Services, stablecoin
    No Comments

    Credit rating firm Moody’s is allegedly developing a scoring system for stablecoins, with analysis for up to 20 digital assets, Bloomberg reported on Jan. 26, citing unnamed sources.  The system, which appears to be in the early stages of development, will evaluate and rate the quality of the attestations of stablecoin reserves, although it will not

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  • Binance stablecoin BUSD sees a sharp market cap drop amid solvency and mismanagement worries

    • January 26, 2023
    • Posted by: Bogdan
    • Category: Adoption, Binance, Binance USD, bitcoin, bitcoin price, Blockchain, Circle, Cryptocurrencies, Cryptocurrency Exchange, Dai, investments, Markets, stablecoin, Technology, tether, Tokens
    No Comments

    Stablecoins in the cryptocurrency market help provide USD pegged tokens within the volatile industry. In bull markets, the market capitalization of stablecoins tends to decrease as investors flock to more volatile assets and in bear markets, investors seek shelter in low volatility stablecoins thus increasing their market caps. On Jan. 26, the total market capitalization

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