May 16, 2:00 pm
|Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Trea...|
On May 13, Circle's chief financial officer Jeremy Fox-Geen published a blog post called 'How to Be Stable,' following the aftermath of Terra's stablecoin implosion. Circle's CFO explained that since usd coin's inception, the stablecoin aims to be 'the most transparent and trusted dollar digital currency.'Terra's Stablecoin De-Pegging Incident Has Cast a Spotlight on the Entire Stablecoin Economy
For a few years now, stablecoin assets have been a popular hedging vehicle among many participants within the cryptocurrency community. In more recent times, stablecoins are being loaned out in great numbers in order to gather interest and high yield returns. In the early days, stablecoins were centralized projects and these days there are a few decentralized and algorithmic stablecoin tokens among the giants.
Tether (USDT) and usd coin (USDC) are the two largest stablecoin projects in terms of market valuation. Both of them are centralized, which means the company guarantees the stablecoins are redeemable for the $1 parity by holding reserves that cover the funds in circulation. Even before Terra's stablecoin de-pegging event, more confidence has been placed in the top two stablecoins bec...
May 08, 4:00 am
|Tron DAO Reserve Purchases $38 Million in TRX to Safeguard the Stablecoi...|
On May 5, Tron's algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron (TRX) to back the algorithmic stablecoin, as the project aims to leverage a decentralized forex reserve similar...
May 02, 8:07 am
|Over $80 Million Stolen From DeFi Lender Rari Capital|
The decentralized finance lender Rari Capital was exploited over the weekend, with over $80 million swiped. Fei Protocol, which merged with Rari last year, offered the anonymous attacker a bounty of $10 million if they returned the funds.
Blockchain security resource PeckShield outlined the “old reentrancy bug,” which compromised Rari ...
April 30, 3:30 pm
|Attackers Steal $80 Million From Rari Capital's Fuse Platform, Fei Proto...|
According to a report from the blockchain company Blocsec, Rari Capital's Fuse platform has lost roughly $80 million from a 'reentrancy vulnerability.' On Saturday, Fei Protocol's official Twitter account confirmed it lost funds from the Rari Fuse platform exploit.$80 Million Swiped from Rari Capital
Another decentralized finance (defi) protocol a...