Stablecoins Crypto News and Headlines
Stable coins, USDC, USDT, BUSD, UST, DAI, TUSD, Stable coin,Stablecoin News
March 17, 6:30 pm
| | Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged To...
During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed.Stablecoin Depegging Event Triggers Billions in Redemptions
The stablecoin landscape has undergone significant changes this month after a stablecoin depegging event took place on March 11. During this time, USDC dropped to a low of $0.877 per coin, and half a dozen other stablecoins also depegged from the U.S. dollar value on the same day. However, USDC and the other stablecoins have since been re-pegged, and Circle's stablecoin is trading at $1 on various centralized trading platforms on Friday. On March 6, approximately 43.89 billion USDC were in circulation, and as of 11 days later, 7,089,389,744 USDC have been redeemed.
As of March 17, 2023, metrics show that over the past 30 days, the number of USDC in circulation has decreased by 10.2%. According to coingecko.com's stablecoin market data, there are currently approximately 36.80 billion USDC stablecoins in circulation. During the depegging event, USDC had double the volume recorded today, which is $6,328,716,602 in global USDC trade volume over the ...
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March 14, 2:00 pm
| | Report: DOJ and FBI Investigating Terraform Labs in Connection to Algori...
The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforc...
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March 13, 7:30 pm
| | Stablecoin Trading Dominates Monday's Crypto Market, Tether and BUSD Sel...
On Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded near parity with the U.S. dollar, and several stablecoins, including tether and BUSD, sold at premiums. Tether reached a high of $1.04 per unit and B...
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March 13, 2:30 am
| | USDC Stablecoin Nears Parity With USD After Fed's Bailout Announcement
The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California's Silicon Valley Bank (SVB) and New York's Signature Bank. Following the Fed ...
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March 12, 12:00 am
| | Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to 'St...
On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin's liquidity operations will resume normally on Monday morning in the United States. Circle said that the company's teams would be ready on Monday to 'handle significant volume' and that the firm will “stand behind USDC an...
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March 11, 6:30 pm
| | Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral A...
On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project's stablecoin, DAI.Makerdao Proposes Changes to Limit Expos...
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March 11, 4:30 pm
| | USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other...
On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin. Additionally, around five other stablecoins have dropped below the U.S. dollar parity during the early morning...
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March 09, 5:39 pm
| | Arthur Hayes Proposes Bitcoin-Backed Stablecoin NakaDollar
Arthur Hayes, the co-founder of cryptocurrency derivative trading platform BitMEX, has proposed a new type of stablecoin, NakaDollar (NUSD), which would be backed by bitcoin (BTC) and bitcoin derivatives.
Hayes noted in a blog post that, unlike a majority of already existing stablecoins, including Tether USD (USDT), USD Coin (USDC), and Binance USD...
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March 07, 6:34 pm
| | Stablecoins Could Benefit From Silvergate's Struggles: Report
A new study by digital asset data provider Kaiko has found that Silvergate's decision to shut down its instant payments network will likely boost stablecoin adoption among investors in crypto trading.
Last week, Silvergate Capital announced the closure of its payments network, SEN, which crypto exchanges and investors used to move large amounts of ...
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March 06, 1:19 pm
| | Babel Finance Pins Hope on New Stablecoin Project to Resolve Financial W...
Babel Finance co-founder Yang Zhou is banking on a new stablecoin to pull the troubled crypto lender from the financial crisis.
Last June, Hong Kong-based project was one of the three prominent firms that floundered, forcing it to halt withdrawals. The company's proprietary trading desk directed customer funds worth $766 million to risky trading ac...
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March 04, 5:45 pm
| | Forget Bitcoin, Coinbase CEO Advocates for a US-Backed Stablecoin (Op-Ed...
In a post-FTX world, it’s really hard being a crypto executive.
Not only are your bags empty and revenues down, but you also have United States financial regulators breathing down your neck with subpoenas one day, and lawsuits the next.
It’s understandable, then, why industry leaders like Brian Armstrong may wish to present themselves t...
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March 03, 3:00 pm
| | Ebb and Flow of Stablecoin Economy Continues With BUSD's Market Cap Drop...
The realm of stablecoins is an ever-evolving landscape and the number of coins in circulation for the stablecoin BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3, 2023. Over the last 30 days, BUSD's token supply has dropped 40% lower. In contrast, the number of tethers in circulation has increased by 4.7% to 71.11 ...
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February 25, 7:00 pm
| | BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decreas...
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin's valuation with a market cap of around $11.12 billion, compared to the meme...
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February 24, 12:44 pm
| | Circle CEO Believes Stablecoins Should Not Be Regulated by the SEC
Following the most recent crackdown by the US Securities and Exchange Commission against several crypto companies, Jeremy Allaire opined that the agency is not the best fit to oversee stablecoins in particular.
He believes these assets are part of the banking sector, thus, they need to be regulated by another watchdog in the States.
The past sever...
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February 23, 5:30 am
| | TUSD Leverages Chainlink Proof of Reserve for Real-Time Verification of ...
On Wednesday, the stablecoin project Trueusd announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens. The trueusd crypto asset has a circulating supply of over 968 million tokens and is the sixth-largest stablecoin by market capitalization.Archblock Uses Chainli...
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February 22, 8:23 pm
| | Blockchain Association CEO Confident on New Regulations for Stablecoins
Calls for more transparency in the process of crypto regulation in the U.S. are mounting. The latest to join the trend is the Blockchain Association, with the spate of enforcement action continuing as the Securities and Exchange Commission ramps up its war on crypto.
On Feb. 22, Blockchain Association CEO Kristin Smith told Bloomberg that the crack...
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February 22, 5:30 pm
| | BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not B...
According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the 'battle' against fiat currencies issued by the world's central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that stablecoins are not reliable because they lack the 'institutional arr...
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February 21, 3:30 pm
| | TCNH, a Stablecoin Pegged to Offshore Chinese Yuan, Listed on Huobi
[PRESS RELEASE - Singapore, Singapore, 21st February 2023]
TCNH, a stablecoin pegged to offshore Chinese Yuan (CNH) with a pilot program allowing organizations to mint TCNH, announced that it is now available on Huobi, where users can trade it through the TCNH/USDT pair. Huobi is the first exchange to support TCNH after its launch. Apart from minti...
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February 20, 11:13 pm
| | Many Stablecoins May Not Meet the Standards of Crypto Asset Regulations:...
The Financial Stability Board (FSB) has revealed that many stablecoins will not meet the standards stipulated in its recommendations for crypto asset regulations that will be released later this year. The regulator noted that the recommendations would be aimed at maintaining effective 'stabilization' mechanisms and strengthening redemption rights.
...
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February 19, 11:30 pm
| | Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6...
Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy's $67.71 billion in global trade volume...
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February 14, 2:19 pm
| | CZ Outlines Need for Stablecoins Pegged to Other Fiat Currencies Amid BU...
The founder and chief executive of Binance spoke in a Twitter AMA (Ask Me Anything) about different hot topics in the cryptocurrency community as of now, with one of them being expectedly the BUSD clampdown from US authorities.
He suggested that the global cryptocurrency ecosystem would benefit if dollar-pegged stablecoins face rivals from other su...
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February 14, 2:00 pm
| | Stablecoin Market Sees Supply Increase for Tether as Competitors Decline...
While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top five stablecoins by market valuation that has seen a supply increase in the past three months.Tether Su...
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February 13, 7:05 am
| | Stablecoin Issuer Paxos Faces SEC Wrath Over Binance USD Coin: WSJ
According to reports on Feb. 12 citing ‘people familiar with the matter,’ the SEC plans to take action against Paxos over the Binance stablecoin, BUSD.
The WSJ report stated that the financial regulator issued a letter to Paxos, known as a Wells notice, to inform it of possible enforcement action. The Wells notice enables companies to r...
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February 11, 7:30 pm
| | Report: Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down...
During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold for now amid the regulatory scrutiny ...
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February 10, 3:00 pm
| | Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 3...
It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time frame. From...
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February 09, 10:30 pm
| | Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source...
Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK.Aave Invites Programmers to Test GHO Before Mainnet Deployment
On Thursday, Aave...
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February 01, 12:52 pm
| | Stablecoin Supply Approaches Death Cross, Bad News For Bitcoin?
On-chain data shows the stablecoin supply long-term and short-term moving averages are close to a death cross. Here's what it means for Bitcoin.
Stablecoin Circulating Supply Moving Averages Close In On Death Cross
As pointed out by an analyst in a CryptoQuant post, if the stablecoin supply doesn't increase, a bear market could return for Bitcoin. ...
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January 31, 12:59 pm
| | Cardano's Djed Stablecoin Hits Mainnet
Cardano's native overcollateralized stablecoin - Djed - went live on the mainnet on January 31st, more than a year after preparations, development, and a successful security audit.
Djed is developed jointly by the layer 1 blockchain network, COTI, and Input-Output Global (IOG), the blockchain-engineering company behind Cardano.
Currently, the stab...
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January 30, 8:14 pm
| | A Look at Cardano's Overcollaterized Stablecoin Djed
Stablecoins have been one of the most controversial areas of the cryptocurrency industry. But this has not deterred industry leaders to bring about new pegged tokens built on a secure foundation.
The much-awaited Djed - which happens to be Cardano's native overcollateralized stablecoin - is set to launch this week. Developed jointly by the layer 1 ...
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January 28, 9:00 pm
| | Stablecoin Economy Sheds Another $3 Billion in 44 Days
The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether's market valuation has risen by 2% over the last 30 days, usd coin's market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar's market capita...
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January 25, 8:33 pm
| | Visa CEO Says There's a 'Meaningful' Future for Stablecoins and CBDCs
The CEO of the world’s largest credit card company told shareholders on Tuesday that stablecoins and central bank digital currencies (CBDCs) will play a “meaningful role” in the payments space going forward.
The company also published its 2022 annual report, in which it wrote about its simultaneously complementary and compet...
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January 23, 6:00 pm
| | Fluid Finance Proposes to Integrate the DAI Decentralized Stablecoin Dir...
PRESS RELEASE. Fluid Finance submitted a proposal to integrate the DAI decentralized stablecoin directly into the traditional financial system. It would be the first time that a stablecoin could be purchased directly from a bank account.
Jessica Walker at Fluid said: “One of the problems with crypto is the lack of connection to the real world...
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January 23, 9:30 am
| | China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoi...
The company developing China's blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade.Company Behind China’s Blockchain Push Aims to Make Stablecoins and Stat...
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January 23, 7:00 am
| | Bank of Spain Greenlights Euro-Backed Stablecoin Token Pilot Program
The Bank of Spain has given approval for the launch of a pilot program involving the issuance and usage of euro-pegged stablecoins. The program, which MONEI, a fintech institution, is launching, will allow users to issue digital euros with fiat deposits in order to experiment with these in payment applications, increasing their transparency.
Bank ...
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January 19, 11:26 am
| | National Australia Bank to Launch Stablecoin on Ethereum, Algorand: Repo...
Several countries have been planning to explore stablecoins despite the initial reluctance and more recent implosion of Terra. The latest one to jump on the bandwagon is one of Australia's four largest financial institutions - National Australia Bank (NAB).
The new Australian dollar-pegged stablecoin created by NAB, dubbed AUDN, is set to be launch...
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January 17, 12:47 am
| | Russia Partners With Iran to Release a Stablecoin Backed by Gold (Report...
The Russian government and the Central Bank of Iran are reportedly mulling a partnership to create a new stablecoin that can facilitate cross-border settlements.
The token will be pegged to the valuation of gold.
The Mutual Operation
According to a report by the Russian media outlet Vedomosti, the local authorities could collaborate with Iran'...
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January 13, 8:36 am
| | Orange Financial to Launch Innovative Yield Farming Treasury, Stablecoin...
[PRESS RELEASE - Geneva, Switzerland, 12th January 2023]
Orange Financial, a multi-chain yield farming treasury, is excited to announce its public mint date on February 1st, 2023. As the only NFT project to offer stablecoin rewards through yield farming to its holders, Orange Financial will revolutionize the world of yield farming and NFTs.
Through...
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January 11, 11:30 am
| | Brazilians Turn to Stablecoins as Alternative to US Dollar for Hedge Aga...
Brazilians are turning to stablecoins as a way of shielding themselves from the volatility of economic circumstances. This is happening now in the wake of the inauguration of the new government of Luis Inacio 'Lula' Da Silva. According to statements coming from exchange executives, the trading volumes of stablecoins have soared in 2022, especially ...
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January 11, 12:30 am
| | Tron's USDD Stablecoin Experiences Fluctuations Again, Drops Below $1 Pa...
The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing, the Tron-issued stablecoin is trading at 98 cents per coin.USDD Stablecoin Dips Down to 97 Cents per ...
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January 10, 8:30 am
| | New Nigerian Central Bank Document Discusses Regulation of Stablecoins a...
According to a recently unveiled document, the Nigerian central bank will in the future be open to developing a regulatory framework for potential implementations of stablecoins. The document also discusses the regulation of initial coin offerings (ICOs) and how these can become 'a new way to attract foreign direct investment (FDI) and raise capita...
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January 10, 7:00 am
| | Why Justin Sun's Stablecoin USDD Is Struggling To Maintain Its Dollar Pe...
A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier. USDD, a stablecoin created by the founder of the Tron Blockchain, Justin Sun, has been losing its peg to the U.S. dollar.
According to Coingecko, USDD is currently trading at $0.9805. Although USDD w...
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January 06, 11:00 am
| | USDD Stablecoin Faces Possible Collapse Amid Huobi Insolvency Rumors
The bear market deepens as negative news and FUD keep popping up. The latest on the list of fear-causing information is Justin Sun’s USDD stablecoin and popular crypto exchange Huobi.
Mike Alfred, an investor serving as a board member of BTC miner Iris Energy and digital asset investment platform Eaglebrook Advisors, earlier today voice...
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December 28, 3:30 pm
| | The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Token...
2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23 days as BUSD shed roughly 23.3% during the last month.Over $3 Billion in USD Value Has Been Erased Fr...
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December 27, 12:30 pm
| | More Than $19 Billion in BTC, ETH, Stablecoins Left Exchanges Since the ...
For more than 50 days or since Nov. 5, 2022, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges. Between Nov. 5 to Dec. 26, roughly 356,848 bitcoin and 4.48 million ether were withdrawn from a myriad of crypto trading platforms worldwide.$6 Billion in Bitcoin, Over $5 Billion in Ether...
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December 27, 5:50 am
| | Why USDT Is Plunging While Other Stablecoins Are Not
Stablecoin adoption has grown immensely, observed especially following the collapse of Terra.
USDC and USDT have seen sizeable growth, but USDT has a lot of keeping up to do with its value plunging as of press time.
USDT trades at $0.09999 as of this writing
Stablecoin waning in terms of social mentions and engagements
Tether exhibits strength in...
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December 23, 1:30 am
| | US Senator Introduces Bill to Regulate Payment Stablecoins
A U.S. senator has introduced a bill to 'establish the first federal regulatory framework for payment stablecoins.' The lawmaker explained: 'This bill will also ensure the Federal Reserve, which has displayed significant skepticism about stablecoins, won't be in a position to stop this activity.'Stablecoin TRUST Act of 2022
U.S. Senator Pat Toomey ...
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December 22, 8:22 am
| | Pro-Crypto US Senator Introduces Stablecoin Trust Act Ahead of Retiremen...
Pro-crypto U.S. Senator Pat Toomey has left a parting gift for Congress before he retires. On Dec. 21, he filed the “Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 2022,” also known as the “Stablecoin TRUST Act of 2022.”
The Republican has advocated for progressive legislation that does not stifle f...
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December 21, 11:03 pm
| | Waves Founder Unveils New 'Undepeggable' Stablecoin Amidst USDN Crisis
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 befo...
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December 16, 8:30 pm
| | Stablecoin BUSD's Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is...
While billions of dollars in crypto assets have been withdrawn from Binance, the world's largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD's supply was drained since last month, statistics show that 14.77% of the reduction took place on Dec. 13....
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December 16, 8:18 pm
| | Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally?
On-chain data shows the number of stablecoin transactions going into spot exchanges have risen recently, something that could help fuel a Christmas Bitcoin rally.
Stablecoin Deposits To Spot Exchanges Have Shown Increasing Demand Recently
As pointed out by an analyst in a CryptoQuant post, there has been an increasing demand on spot exchanges recen...
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