Stablecoins

This month the total market capitalization of the stablecoin sector within the cryptocurrency space has reached its lowest level since September 2021, marking its fourteenth consecutive month of decline, as it fell 0.45% to $130 billion as of May 23. According to CCData’s latest Stablecoins & CBDCs report, stablecoin trading volumes fell this month by […]

Leading stablecoin issuer Tether, the firm behind the USDT token, has recently revealed that it amassed $2.5 billion in excess reserves, and that it now plans to use 15% of its realized net operating profits to invest in the flagship cryptocurrency Bitcoin ($BTC). According to a recent announcement, Tether’s excess reserves currently account for approximately […]

In a significant stride for the digital currency space, the Djed Alliance has announced the deployment of the Djed stablecoin protocol on Milkomeda-C1. The Djed Alliance is a consortium of contributors from around the globe, dedicated to instilling stability in the notoriously volatile cryptocurrency sector. The alliance oversees the Djed Stablecoin Protocol, fostering its implementations […]

While the stablecoin sector of the cryptocurrency space rapidly grew in the past, it has now been declining for 13 consecutive months, while Tether’s USDT stablecoin has kept on dominating it. It’s now near a new all-time high in its market capitalization, with TUSD gaining market share on Binance thanks to zero-fee trading. According to […]

On Tuesday (April 4), Brazilian financial powerhouse BTG Pactual, recognized as one of Latin America’s largest investment banks, unveiled its inaugural stablecoin via the bank’s cryptocurrency platform, Mynt. BTG Pactual, a prominent financial services firm based in Brazil, specializes in investment banking, wealth management, and asset management. Established in 1983, it has grown to become […]

The total market capitalization of the stablecoins within the cryptocurrency space has fallen by 1.35% to $133 billion, the lowest it has been in 18 months, amid a US banking crisis that has been part of the reason behind the space’s decline for its twelfth consecutive month. According to CryptoCompare’s latest Stablecoins & CBDCs report, […]

In a recent video, Shahaf Bar-Geffen, CEO of FinTech startup COTI Group, explained why Cardano-powered algorithmic stablecoin Djed ($DJED) maintained its peg last week, despite some other major stablecoins faltering amidst market turbulence. He also explained why Djed has a bright future. Background On 26 September 2021, day two of the two-day Cardano Summit 2021, IO […]

Binance USD (BUSD) tokens have been subject to a significant sell-off by major whales on the BNB Chain, as the cryptocurrency market experiences a seismic shift in the stablecoin arena. This sell-off trend is in line with the absence of new BUSD supply being introduced into circulation, resulting in investors fleeing the stablecoin as liquidity […]

Decentralized exchanges (DEXs) have experienced a significant trading volume surge during the stablecoin crisis seen earlier in the week, which saw the value of the second-largest stablecoin by market capitalization, USDC, plunge to a low of $0.87 before recovering, According to CryptoCompare’s latest Market Analysis blog post, this market USDC’s all-time low, and came after […]

A “desperate” cryptocurrency investor has paid well over $2 million in an on-chain trade to swap out of an investment offering them exposure to $USDC and the decentralized stablecoin $DAI and into $USDT, but only received $0.05 in return. According to an analyst’s take on the trade and a postmortem report from the decentralized exchange […]

On Sunday (March 12), the crypto market had a great to reason to cheer after U.S. Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg released a hugely important joint statement. As you probably already know, on Friday (March 10), Silicon Valley Bank (SVB) was […]

A newly published report reveals that in February, the total market capitalization of the stablecoins in the sector fell by 0.68% to $136 billion, making their lowest market capitalization since September 2021 and the eleventh consecutive monthly decline. CryptoCompare’s latest Stablecoins & CBDCs Report adds that the total market share of stablecoins in the sector is […]

As stablecoin issuer Paxos anxiously waits to deal with the alleged investigations by U.S. regulators of how it administered fiat-backed stablecoin Binance USD ($BUSD), crypto analysts are trying to gauge the potential impact will on the stablecoin market and the crypto space in general. Yesterday, Paxos announced that it will “end its relationship with Binance […]

The recently launched Cardano-powered algorithmic stablecoin Djed ($DJED) is now backed by over 31.5 million $ADA tokens, as its adoption keeps on growing and its reserve ratio remains high. According to data from the project’s website, DJED’s reserve ratio currently stands at 488%, with 31.6 million $ADA backing a total of 2.27 million $DJED tokens […]

In a fireside chat (titled “DeFi: Resilience in the Face of Global Uncertainty”) with Alex Cohen at the two-day event StarkWare Sessions held during ETHTLV 2023 week in Tel Aviv, Israel, Aave Founder and CEO Stani Kulechov shared his thoughts on the DeFi space and its potential for wider adoption. As Cointelegraph reported earlier today (6 February […]

This article looks at Djed ($DJED), which is an “overcollaterized” Cardano-powered stablecoin developed by IOG and issued by FinTech startup COTI Group, and in particular, how holders of Djed’s reserve coin $SHEN can receive delegation rewards from day one. What Is $DJED? On 26 September 2021, day two of the two-day Cardano Summit 2021, IO Global (IOG), the […]

France-based multinational financial services giant Société Générale has withdrawn $7 million in the cryptocurrency-backed stablecoin DAI from MakerDAO, out of a vault that has a debt ceiling of $30 million in DAI. As The Block reports, Société Générale was approved to start a MakerDAO vault last year after a vote from the decentralized autonomous organization’s […]

The United Nations refugee agency, the Office of the U.N. High Commissioner for Refugees (UNHCR), is set to start aiding displaced Ukrainians through the USDC stablecoin via digital wallets running on the Stellar ($XLM) network. According to a recent announcement, the UNHCR has launched a program to use the Stellar blockchain to transfer USDC, a […]

Blockchain data shows that cryptocurrency whales have been “massively” accumulating stablecoins including Binance USD, DAI, and Tethers USDT, all while Bitcoin whales have been adding to their war chests as well. According to on-chain analytics firm Santiment, Bitcoin addresses with between 100 and 10,000 $BTC have bought a total of $726 million worth of the […]

On Wednesday (14 December 2022), Ralph Schlosstein, who is Chairman Emeritus at global independent investment banking advisory firm Evercore Inc., share his thoughts on crypto. His comments were made during an interview with Guy Johnson and Alix Steel on Bloomberg Television’s “Bloomberg Markets”. Schlosstein said: “I think in the world of crypto, you really have […]

Recently, Dr. Fabio Panetta, a Member of the Executive Board of the European Central Bank (ECB), talked about crypto finance during a speech given at the Insight Summit held at the London Business School (LSB). Panetta, whose speech was titled “Crypto dominos: the bursting crypto bubbles and the destiny of digital finance”, mentioned that we […]

On Thursday (8 December 2022), Coinbase announced that it had decided to make it easier for its “global retail customers” to convert Tether ($USDT) to USD Coin ($USDC), highlighting the latter’s good reputation without directing attacking the former. According to Coinbase’s blog post, customers are looking for stability and trust in the midst of market […]

A Cardano-powered algorithmic stablecoin called Djed ($DJED) is set to launch early next year on the smart contract platform’s mainnet, according to an announcement developers made at the Cardano Summit in Lausanne, Switzerland. Djed, as CryptoGlobe previously reported, is an algorithmic stablecoin issued by fintech startup COTI Group. It’s a crypto-backed pegged algorithmic stablecoin for […]

Last week, at the 17th G20 Heads of State and Government Summit, which was held November 15-16, 2022 in Bali, Indonesia, the world leaders present made a joint declaration that had some interesting things to say about the “crypto-assets ecosystem”. In a joint declaration released by the White House on 16 November 2022, the G20 […]

In a recent interview, Alfred F. Kelly, Jr. (aka “Al Kelly”), who is Chairman and CEO of Visa Inc., said that he hopes that the collapse of FTX will lead to good crypto regulation, which is “what’s necessary to build back confidence for people.” According to a report by The Daily Hodl, the outgoing CEO […]

On Friday (18 November 2022), EMURGO, which is the commercial arm of Cardano, announced the planned launch of its new dollar-backed stablecoin USDA, which is “the first fully fiat-backed, regulatory compliant stablecoin in the Cardano ecosystem.” EMURGO, which was founded in 2017, is “a global blockchain technology company providing solutions for developers, startups, enterprises, and governments”; […]

Recently, STASIS, the issuer of EURS, which it claims to be the largest euro-backed digital asset’, announced that it had integrated the XRP Ledger to “further shape the vision of multichain stablecoin.” The Evolution of the XRP Ledger The open-source public XRP Ledger (XRPL) was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto; its […]

In a recent speech, Martin J. Gruenberg, who has been the Acting Chairman of the Federal Deposit Insurance Corporation (FDIC) Board of Directors since 5 February 2022, shared his thoughts on “the prudential regulation of crypto–assets.” Here is how Wikipedia describes the FDIC: “The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that […]

On 4 November 2022, Arthur Hayes, Co-Founder and former CEO of BitMEX, said that the programmability of central bank digital currencies (CBDCs) could take away “the ability to purchase Bitcoin”. In a blog post published two days ago, Hayes explained the difference between CBDCs and the current forms of electronic cash: “A CBDC is government […]

The number of stablecoin projects being launched on top of the XRP Ledger has been steadily growing over the last few months, with development teams across the globe improving the $XRP network over time. A pseudonymous cryptocurrency influencer has recently pointed out that there are at least six stablecoins now launched on top of the […]

Recently, FinTech startup COTI Group, the issuer of algorithmic stablecoin Djed (which is built on Cardano), shared with the Cardano community some important details about the current status of the project. What Is Djed ($DJED)? On 26 September 2021, day two of the two-day Cardano Summit 2021, IO Global (IOG), the blockchain technology firm responsible for the research and development […]

In a recent interview on CNBC’s “Crypto World” show, Jeremy Allaire, the Co-Founder, Chairman, and CEO of Circle Internet Financial, the issuer of fiat-backed stablecoin USD Coin ($USDC), talked about his firm’s long-term goal. According to a report by The Daily Hodl, Allaire told CNBC technology reporter Kate Rooney: “We want to be a full […]

Last week, Binance Co-Founder and CEO CZ talked to Ryan Selkis, Co-Founder and CEO at Messari, at Messari’s annual conference Mainnet (September 21-23, 2022) in New York City about fiat-backed stablecoins $BUSD and $USDC. As you may already know, on September 5, Binance announced that it would no longer support the use of fiat-collateralized stablecoins $USDC, $USDP, and $TUSD […]

On Monday (September 27), Federal Reserve Chairman Jerome Powell shared his thoughts on the regulation of the crypto industry during a speech at the Banque of France conference “Opportunities and challenges of the tokenisation of finance: which role for Central Banks?”. These comments were made at a roundtable (“How should central banks address financial stability challenges related to digitalization […]

On Monday (September 5), Binance announced that it will no longer support the use of fiat-collateralized stablecoins $USDC, $USDP, and $TUSD for trading, and instead “users’ existing balances and new deposits” will automatically get converted to $BUSD at a 1:1 ratio. According to a blog post published on September 5 by the world’s largest crypto […]

TRON Founder Justin Sun says that the launch of Tron’s new stablecoin, Decentralized USD ($USDD), combines the best aspects of competing stablecoins on the market.  In an open letter published on 21 April 2022, Sun said that TRON DAO had “joined hands with major blockchain players to launch USDD (Decentralized USD), the most decentralized stablecoin […]

On Friday (August 26), Jay Clayton, the former Chairman of the U.S. Securities and Exchange Commission (SEC),shared his thoughts on why it is taking so long to get a regulatory framework for crypto in the U.S. Clayton’s comments were made during a conversation with Betty Quick, co-anchor of CNBC’s Squawk Box. Clayton said: “Why is […]

On Friday (August 12), Jurrien Timmer, Director of Global Macro at Fidelity Investments, explained how upcoming stablecoin regulation could increase the demand for crypto. In March 2021, Timmer published a 12-page research paper on Bitcoin (title: “Understanding Bitcoin: Does bitcoin belong in asset allocation considerations?”). Timmer started by saying that he intended his paper to serve as “a […]

The cryptocurrency market’s recovery in July, which has seen the price of Bitcoin ($BTC) rise 18.4% and of Ethereum ($ETH) rise 64.7% respectively, has seen trading volume for the flagship cryptocurrency against BinanceUSD ($BUSD) explode upwards. According to CryptoCompare’s July 2022 Exchange Review, the average daily volume of the BTC/BUSD pair rose 62.1% to 1.49 […]

On Tuesday (August 9), Circle Internet Financial Limited — the issuer of fully-collateralized stablecoin USD Coin ($USDC), which was launched on Ethereum in September 2018 — made an announcement that made most Ethereum ($ETH) HODLers breathe a sign of relief. Here is how Ethereum Foundation explains The Merge (expected to take place around September 19): “The Merge represents […]

Citizens of Chile, home to one of Latin America’s most stable economies over the last several decades, are turning to stablecoins to weather a potential economic slump. According to a report by CoinDesk, Chileans are using popular stablecoins as protection against inflation that is threatening the country and contributing to a global trend. The report […]

Recently, highly respected equity research analyst and investment strategist Lyn Alden talked about how stablecoins are being used and how they will be used to solve real world problems over the next decade. Alden, who provides equity research and investment strategies for clients, made her comments during an interview with Anthony Pompliano, where she highlighted the “significant” […]

During an interview published on Tuesday (August 2), Mastercard CFO Sachin Mehra shared his thoughts on crypto. His comments were made during an interview with Bloomberg’s Lisa Abramowicz. With regard to crypto, he said: “In the crypto world, we play the role as an on-ramp, with people using our debit and credit products to buy […]

Stablecoins have become a major part of the cryptocurrency space over time, with Tether USD (USDT) and USD Coin (USDC) now being the two leading stablecoins by market capitalization. While both are fully collateralized stablecoins, their underlying business models and infrastructure differ. Looking at the differences between USDT and USDC is crucial for investors to […]

Recently, the popular psuedonymous host of crypto market commentary show Coin Bureau talked about $AAVE, which is the governance token of non-custodial liquidity protocol Aave. Aave is “a decentralised non-custodial liquidity market protocol where users can participate as depositors or borrowers.” Depositors “provide liquidity to the market to earn a passive income,” while borrowers “are able […]

Brazil-based digital payments app PicPay is set to launch a cryptocurrency trading platform for its 65 million users, as well as a stablecoin tied to the country’s fiat currency, the Brazilian real. The exchange is the fintech firm’s first cryptocurrency-related offering. PicPay’s digital assets exchange will allow users to buy, sell, and hold Bitcoin ($BTC), […]

On Friday (July 8), Dr. Lael Brainard, who “took office as the Vice Chair of the Board of Governors of the Federal Reserve System on May 23, 2022,” spoke at a Bank of England Conference in London, UK. Dr. Brainard has “served as a member of the Board of Governors of the Federal Reserve System […]

Recently, Crypto investment firm Pantera Capital took a closer look at what caused the the recent troubles of the Teraa ecosystem, crypto lender Celsius, and Singapore-based crypto hedge fund Three Arrows Capital (3AC). In the June 2022 issue of his firm’s monthly newsletter (“Pantera Blockchain Letter”), Pantera Capital gave their explanation for the the above-mentioned debacles in the […]

On Sunday (July 3), Circle Internet Financial Limited Co-Founder, Chairman, and CEO Jeremy Allaire explained why holders of its fiat-collateralized and fiat-pegged stablecoin USD Coin (USDC) should not be worried (in the aftermath of the Terra ecosystem collapse). As Circle’s Chief Financial Officer Jeremy Fox-Geen stated in a blog post (titled “USDC Trust and Transparency […]

Brian Brooks, the CEO of Bitfury Group, which is Bitfury Group is a “leading full-service blockchain technology company”, talked about crypto on day two of the week-long 2022 Aspen Ideas Festival (AIF) being held in Aspen, Colorado. Before joining Bitfury in October 2021, Brooks was the CEO of Binance US and before that he worked at the Office […]

On Thursday (June 16), Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle Internet Financial, announced that his firm was introducing its “2nd major fiat-backed stablecoin“, and that it had launched it on the Ethereum mainnet. Euro Coin (EUROC) is “issued by Circle under the same full-reserve model as USD Coin (USDC), a trusted dollar digital currency […]

Multinational professional services company Deloitte has published survey data showing that nearly 75% of U.S. retailers intend to accept crypto payments within the next two years.  According to a report (titled “Merchants getting ready crypto”) prepared and published by Deloitte (in collaboration with PayPal), the market is preparing itself to fully embrace digital payments. Deloitte […]

Global payments firm Checkout.com is accepting stablecoins as a part of a broader strategy to enter the crypto market.  According to a report by CNBC, the $40 billion startup has announced that it will support round-the-clock settlement for merchants via Circle’s fiat-backed stablecoin USD Coin (USDC). The payments platform will conduct its crypto transactions through […]

FinTech firm Circle Internet Financial, LLC has “announced support for Polygon USDC on Circle’s payments and treasury platform.” According to Circle’s press release, the firm, which is “a global financial technology firm that provides internet-based payments and financial infrastructure to businesses of all sizes, and the issuer of USD Coin (USDC),” has “announced support for […]

The head of the Office of the Comptroller of the Currency (OCC) has issued a dire warning over crypto in the wake of the collapse of the Terra ($LUNA) ecosystem.  The OCC is “an independent bureau of the U.S. Department of the Treasury that charters, regulates, and supervises all national banks, federal savings associations, and federal branches […]

A collection of human rights advocates from the around the world have penned an open letter to U.S. lawmakers supporting the use of Bitcoin.  According to a report by CNBC, 21 human rights supporters from 20 countries sent a letter to members of the U.S. Congress saying that Bitcoin gives power to individuals in countries […]

Recently, Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), shared her thoughts on cryptoassets in general and stablecoins and central bank digital currencies (CBDCs) in particular. The IMF, which was established on 27 December 1945, “works to achieve sustainable growth and prosperity for all of its 190 member countries” by “supporting economic policies that […]

In a recent interview, Binance Co-Founder and CEO Changpeng Zhao (aka “CZ”) shared his thoughts on the recent failure one of the most high profile projects in the crypto space. As leading digital asset market data provider CryptoCompare said in an excellent comprehensive report (titled: “Exploring UST’s Fall From Grace”) published on May 13, “the recent blowup in the […]

One lesser known fact about the recent price collapse of algorithmic stablecoin TerraUSD ($USST) is that it managed to hit some of the most vulnerable people on the planet, namely relatively poor people living in high inflation countries. According to a report published on May 26 by tech news out “Rest of the World”, people […]

Billionaire investor Bill Ackman says that the epic collapse of Terra ($LUNA) and algorithmic stablecoin TerraUAD ($UST) has exposed a crypto version of a pyramid scheme.  In a series of tweets, Ackman shared his views on the price collapse of $UST, which was once thought to be pegged to the value of $1. Ackman said […]