Stablecoin

Tether [USDT]: Whales and what a new 3-year low means for the stablecoin

Tether [USDT]: Whales and what a new 3-year low means for the stablecoin

The current state of the cryptocurrency market can be best described with the help of falling dominoes. First, it was the collapse of the algorithmic stablecoin TerraUSD [UST], sowing turbulence in the broader market. Then its the grown-up cousin Tether [USDT] that wavered from the peg, fueling concerns over its status as a place to …

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MakerDAO approves $100 million stablecoin loan vault for 151-year-old US bank

MakerDAO approves $100 million stablecoin loan vault for 151-year-old US bank

MakerDAO has approved Huntingdon Valley Bank, a US-based regulated bank founded in 1871, to open a stablecoin vault. This vault will work as a system allowing the bank to borrow DAI tokens after depositing off-chain loans on its balance sheet as collateral. MakerDAO is the issuer of the Dai (DAI) stablecoin. The DAO vote …

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USDC v. USDT - Is this stablecoin nearing its 'Circle' of life?

USDC v. USDT – Is this stablecoin nearing its ‘Circle’ of life?

The stablecoin market, like the rest of the cryptocurrency ecosystem, continues to see new updates every day. Things changed rapidly, especially after TerraUSD [UST] came into the picture only to crash and burn. Now, while some struggled to move on past the de-pegging event, others might have found a solid ground to stand on Tether (USDT) …

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Stablecoin Issuers Speak Out as UST Craters

Stablecoin Issuers Speak Out as UST Craters

Since Terra began blowing up, DAI, the five-year-old overcollateralized stablecoin overseen by the MakerDAO community, has held its peg and carried out liquidations of collateral in an orderly fashion overnight, which has been “a great test of the system,” said Luca Prosperi, a leader on lending oversight at MakerDAO. Source link

Terra outlines stablecoin support measures as Luna slides below 10 cents

Terra outlines stablecoin support measures as Luna slides below 10 cents

Terraform Labs published extra measures on Thursday to help restore the TerraUSD (UST) peg with the US dollar and support Luna’s cratering price. Chief among them is proposal 1164, as Terraform Labs CEO Do Kwon highlighted yesterday. This is designed to increase the amount of UST that can be swapped for Luna by four times. …

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Treasury official touts the 'flexibility' of bank charters for stablecoin issuers during Senate hearing

Treasury official touts the ‘flexibility’ of bank charters for stablecoin issuers during Senate hearing

In its push for greater stablecoin oversight, the US Treasury Department is trying to soften its central proposed regime. This was particularly apparent in a hearing before the Senate Banking Committee today.  In the second of two hearings on a report on stablecoins from the President’s Working Group on Financial Markets, a senior Treasury official …

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