Search Results for: stablecoin

KuCoin Research Releases Inaugural Report Highlighting Historic Stablecoin Inflow and Bullish Sentiment

VICTORIA, Seychelles–(BUSINESS WIRE)–#blockchain–KuCoin Research, the dedicated research arm of KuCoin, a top 5 global cryptocurrency exchange, has released its inaugural report. This report highlights a bullish sentiment in the cryptocurrency market, particularly with historic inflows of stablecoins. In this first monthly market insight report, KuCoin Research provides a comprehensive overview

December 14, 2023 3 mins read

New Zealand Central Bank Governor Expresses Concerns Over Stablecoins

France’s Societe Generale Launches Euro-pegged EURCV Stablecoin

European financial behemoth Societe Generale, the third-largest bank in France, has introduced its own euro-pegged stablecoin. According to the Financial Times, the EUR CoinVertible (EURCV) stablecoin will make its debut on the Bitstamp cryptocurrency exchange. Bank clients will be able to invest in the digital asset market with EURCV since

December 6, 2023 1 min read

TrueUSD Collaborates with MooreHK for Enhanced Transparency

Stablecoin TrueUSD (TUSD) Depegs Amidst Recent Developments

In the wake of Binance’s former CEO Changpeng Zhao’s (CZ) resignation and reports stating that terrorists choose Justin Sun’s Tron over Bitcoin for enabling terror funding, among other things, the TrueUSD (TUSD) stablecoin depegged and fell to a low of $0.995. The current price of TUSD, after an unsuccessful repeg

November 28, 2023 1 min read

Bank of International Settlements (BIS) Flags Concerns Over Stablecoins

A new research report from the Bank of International Settlements (BIS) details the institution’s growing worries about the stability of stablecoins. BIS expressed serious doubts regarding their dependability as both an investment and a medium of exchange in their study report. The research analyzes 68 stablecoins and finds that none

November 17, 2023 2 mins read

Crypto Scams Soar: FBI Reports $3.94 Billion Losses in 2023

DeFi Platform Raft’s Stablecoin Down 87% Post Recent Exploit

DeFi platform Raft lost about $3.3 million in Ethereum (ETH) after hackers attacked it on Friday. However, the attacker may have incurred a loss on the crime. According to the information available on the blockchain, a hacker stole 1,577 ETH from Raft and promptly transmitted 1,570 ETH to a burn

November 11, 2023 2 mins read

European Banking Authority Proposes Liquidity Rules for Stablecoin Issuers

The EU’s banking regulator, the European Banking Authority (EBA), has suggested new rules for stablecoin issuers that would establish minimum capital and liquidity criteria. With the new liquidity requirements in place, the stablecoin should be easily redeemable even when markets are volatile, mitigating the risks of bank runs and contagion.

November 8, 2023 2 mins read

UK Aims to Focus on Stablecoins With New Improvised Plans

According to discussion documents issued by the two organizations on Monday, the Financial Conduct Authority (FCA) will manage the broader crypto industry, while the Bank of England (BOE) will control “systemic stablecoins” that are in widespread circulation and might disrupt the economy. The suggestions followed the U.K. government’s publication last

November 6, 2023 2 mins read

PayPal's PYUSD Stablecoin Reaches Market Cap of $290 Million

U.S SEC Issues Subpoena to PayPal Over PYUSD Stablecoin

The U.S SEC has issued a subpoena against payment processing behemoth PayPal in relation to its stablecoin pegged to the U.S. dollar. On November 2nd, PayPal publicly stated in its Q3 financial report with the SEC that it had received a subpoena from the SEC’s Enforcement division over its PYUSD

November 2, 2023 2 mins read

UK Government Unveils 2024 Regulation Plans for Stablecoins

The UK government has updated its intentions to regulate stablecoins backed by fiat currency. The paper was released on October 30 with the intent of easing and regulating the usage of fiat-backed stablecoins in UK payment networks. The paper states that in 2024, His Majesty’s Treasury plans to present explicit

October 30, 2023 1 min read

Cardano’s Djed Stablecoin Project Receives Major Revamp

Cardano’s creator Charles Hoskinson has addressed speculation that the Djed stablecoin may be phased out. In a recent post on twitter, he announced that Djed is not only staying put, but will also be undergoing a major revamp that will give this overcollateralized stablecoin a second chance at success. And

October 25, 2023 1 min read