Stablecoins

Ethena: How This Decentralized USD Stablecoin Project Uses Hedge Fund Tactics to Offer High Yields

A relatively new cryptocurrency project called Ethena is reportedly capturing attention by adopting a hedge-fund trade approach, drawing significant investments and generating buzz. Despite the promising start with yields around 37%, skepticism regarding their sustainability is surfacing, reflecting the volatile history of the crypto market. Per an article published by Bloomberg News yesterday, Ethena introduces […]

Why VanEck CEO Is Concerned About High and Unpredictable Transactions Fees on Bitcoin and Ethereum

On 9 April 2024, day one of the three-day Paris Blockchain Summit, during a highly informative segment on CoinDesk TV’s “Markets Daily,” Jan van Eck, CEO of VanEck, offered a wealth of insights on the dynamics shaping the cryptocurrency market in 2024. The VanEck CEO noted that Europe is ahead of the United States in […]

Stablecoin Issuer Circle’s Head of Global Policy on Biden Crypto Policy, Risks, and Standards

On April 9, during an appearance on Bloomberg TV, Dante Disparte, the Head of Global Policy at Circle, shared his insights on the Biden administration’s approach to managing the potential risks associated with cryptocurrency, particularly focusing on stablecoins and the broader implications for illicit financing. During his conversation with Bloomberg Crypto co-hosts Sonali Basak and […]

Prominent Analyst on Ripple’s Upcoming XRPL-Powered USD-Backed Stablecoin: ‘This Changes Everything for Ripple’

Last Friday, Kevin Paffrath, on his highly popular YouTube channel Meet Kevin, kicked off the discussion by highlighting Ripple’s landmark victory in July 2023, when the SEC declared that the XRP token is not inherently a security. Paffrath pointed out how this regulatory win was a pivotal moment for Ripple, setting a precedent for the […]

Ripple Plans to Launch USD-Backed Stablecoin on Ethereum and XRP Ledger

Ripple, a leading provider of enterprise blockchain and crypto solutions, announced its plans to launch a stablecoin pegged 1:1 to the US dollar (USD) on April 4, 2024. The stablecoin will be fully backed by a reserve of US dollar deposits, short-term US government treasuries, and other cash equivalents, with monthly attestations published by a […]

Stablecoin Market Explodes With Tether (USDT) Market Cap Surging Past $100 Billion: CCData

CCData has released the March 2024 edition of its “Stablecoins & CBDCs Report.” CCData is a leading company specializing in digital asset data and index solutions. They collect and aggregate vast amounts of pricing data on cryptocurrencies from various exchanges and sources, meticulously cleaning and standardizing it for use by institutions and retail investors. CCData […]

Stablecoins’ Total Market Cap Explodes to $138 Billion in 2024, Reveals CCData

CCData stands at the forefront of the digital asset data space, serving as a crucial resource for anyone navigating the cryptocurrency market. Their core focus lies in gathering comprehensive market data from a vast network of global crypto exchanges. This includes real-time pricing, trading volumes, order book information, and other essential metrics for numerous digital […]

Crypto’s Trojan Horse: Stablecoins’ Stealthy Takeover of Finance

In a Bloomberg News article (published earlier today) by Olga Kharif and Yueqi Yang, the complexities surrounding stablecoins, particularly in the wake of Silicon Valley Bank’s collapse, are meticulously examined. The report highlights the precarious balance stablecoins maintain between the crypto universe and traditional financial systems, underscoring their potential to both stabilize and destabilize markets. […]

Crypto Whales Accumulate Over Half of Stablecoin Supply, Boosting Bullish Sentiment

Large cryptocurrency investors, colloquially known as whales, have been increasingly accumulating stablecoins over the last few weeks, to the point that they now control over half of the combined stablecoin supply. That’s according to popular on-chain analytics firm Santiment, which has recently noted that since September the stablecoin market has been growing, to the point […]

Beam CEO on US-Listed Spot Bitcoin ETFs’ Impact and New Stablecoin-Powered Shopping App

On January 26, Andy Bromberg, CEO of the crypto-focused venture capital firm Beam, appeared on CNBC to discuss his views on the recent developments in the crypto market, particularly the approval of spot Bitcoin ETFs, and to talk about his company’s latest acquisition. Here are the main takeaways from Bromberg’s Interview: Bitcoin ETFs and Crypto […]

Circle Co-Founder and CEO Jeremy Allaire on Stablecoin Regulation

On January 15, 2024, Jeremy Allaire, CEO of Circle, which is best known as the issuer of fiat-backed stablecoin USD Coin (USDC), spoke with CNBC at the World Economic Forum in Davos, Switzerland. Stablecoins and Blockchain Technology Allaire began by addressing the progress in blockchain technology, likening it to the post-dot-com era where, despite market […]

Morgan Stanley Exec’s Take on Bitcoin: ‘From an Internet Forum Idea to a Sovereign Reserve Asset’

Andrew Peel, Head of Digital Asset Markets at Morgan Stanley, recently published an article discussing the evolving role of digital assets like Bitcoin, stablecoins, and Central Bank Digital Currencies (CBDCs) in the global financial system. His analysis delves into how these innovations could both challenge and reinforce the U.S. dollar’s hegemony in global finance. Here […]

Total Market Cap of Stablecoins Reaches Highest Level Since May 2023, Says Latest Stablecoins Report From CCData

CCData, a global leader in digital asset data and an FCA-authorised benchmark administrator, has released the December 2023 edition of the “Stablecoins & CBDCs” report. This report provides a comprehensive analysis of the stablecoin sector, which has seen significant growth and interest over the past year. CCData’s expertise in aggregating and analyzing diverse datasets offers […]

Ripple Unveils In-Depth Report on the Global Rise of CBDCs and Their Impact

On 14 December 2023, Ripple released a 23-page report titled “CBDCs: The Digital Evolution of Money,” which provides a comprehensive analysis of the evolving role of Central Bank Digital Currencies (CBDCs) and stablecoins in the modern financial ecosystem. The report offers an insightful perspective on how these digital currencies are set to digitize economies and […]

S&P Global Ratings Casts Doubt on Tether’s Stability in New Stablecoin Assessment

S&P Global Ratings has announced the launch of its stablecoin stability assessment. S&P Global Ratings, a division of S&P Global Inc. (NYSE: SPGI), is a leading provider of independent credit risk research. The firm publishes credit ratings on debt issued by various entities across multiple sectors. With a global team of credit analysts and a […]

Tether ($USDT) Implements Wallet-Freezing Policy to Address Security Concerns

Tether introduced a wallet-freezing policy on 9 December 2023. Tether is a major player in the crypto space, known for issuing the Tether token (USDT), which is a type of stablecoin. Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to another asset, typically a fiat currency. In the case of Tether, […]

Tether Whales Accumulate $1.67 Billion in USDT, Hinting at Potential Crypto Buying Spree

The largest Tether (USDT) whales have been growing their holdings over the past six months, adding in $1.67 billion worth of the stablecoin, in an accumulation trend that suggests they’re getting ready to buy cryptocurrencies on the market and potentially helped BTC’s price surpass $40,000. According to on-chain analytics firm Santiment, the buying power of […]

“North America’s Crypto Market is More Driven by Institutional Activity Than Any Other Region’s,” Says Chainalysis Report

According to a report published by Chainalysis on October 23, North America stands as the largest cryptocurrency market they have studied, with an estimated transaction volume of $1.2 trillion between July 2022 and June 2023. This accounts for 24.4% of global cryptocurrency transactions during that period. The United States leads the pack, ranking first globally, […]

Former CFTC Chair Heath Tarbert Advocates for Urgent Stablecoin Legislation to Secure U.S. Financial Future

Heath Tarbert, who previously served as the Chairman of the Commodity Futures Trading Commission (CFTC) and is now the Chief Legal Officer at Circle, has penned an opinion piece for CoinDesk emphasizing the need for immediate legislative action on stablecoins. Tarbert draws a parallel between the financial crisis instigated by the collapse of Lehman Brothers […]

USDT on Exchanges Nears $10 Billion as Crypto Buyers Eye Opportunities

In recent days, a marked uptick in on-chain activity surrounding the leading stablecoin Tether ($USDT) has been seen, with data showing that nearly $10 billion worth of the stablecoin is now sitting on exchanges, the highest level seen in roughly seven months. According to data from on-chain data analytics platform Santiment, this means that cryptocurrency […]

Crypto Investor Trades 131,500 $USDR for Less Than 0.01 USDC as Real Estate Backed Crypto Depegs

A Polygon-based real estate-backed stablecoin called Real USD ($USDR) has lost over half of its value in a matter of hours after it was drained off of its liquid collateral, leaving only rental properties in the UK backing the cryptocurrency. According to on-chain data from the Tangible decentralized autonomous organization (DAO), the entity behind the […]

Crypto.com Becomes a ‘Preferred’ Exchange for PayPal’s PYUSD Stablecoin

Popular Singapore-based cryptocurrency exchange Crypto.com has announced a new partnership with PayPal and Paxos for it to become a preferred exchange for the PayPal USD (PYUSD) stablecoin that the payments giant launched last month. The cryptocurrency exchange has said in a press release that it has already listed PYUSD on its platform for both retail […]

Crypto.com Introduces Multiple Altcoin Trading Pairs for PayPal’s $PYUSD Including Against $XRP

Singapore-based cryptocurrency exchange Crypto.com has revealed it’s adding numerous trading pairs involving numerous altcoins PayPal’s stablecoin PYUSD, with trading pairs allowing users to trade $XRP against the stablecoin. The move comes as Crypto.com established a partnership with PayPal and Paxos to become a preferred exchange for the PYUSD stablecoin that the payments giant launched last […]

Stablecoin Shake-Up: Binance Drops BUSD as New Contenders Rise, Reveals CCData Research

CCData, a renowned FCA-authorized benchmark administrator and global leader in digital asset data, has unveiled the September 2023 edition of its “Stablecoins & CBDCs Report”. The CCData Stablecoins Report is designed to highlight significant trends and activities in the stablecoins industry. The report centers on evaluations concerning market capitalization and trading volumes of various stablecoins, breaking […]

Circle CEO Foresees U.S. Stablecoin Regulation as Catalyst for Crypto Industry Growth

Jeremy Allaire, the CEO of Circle, believes that the United States is on the verge of implementing legislation that will regulate stablecoins, providing much-needed clarity for the cryptocurrency industry. During an interview with journalist Laura Shin on episode 543 of the Unchained Podcast, Allaire expressed optimism that the ongoing discussions around stablecoin regulation will ultimately […]

Visa Expands its USD Coin ($USDC) Settlement Capabilities to Solana

Global payments giant Visa has announced its latest move to modernize cross-border financial transactions. What Is USD Coin (USDC)? USDC, or USD Coin, is a type of stablecoin that is pegged to the U.S. dollar. Each USDC token is meant to be equivalent to one U.S. dollar, held in reserve by regulated financial institutions. The […]

VC Firm Paradigm Urges Tailored Legislation for Stablecoins’ Unique Role in Payments

San Francisco-based crypto investment firm Paradigm recently published a paper discussing the future of stablecoins in the payment system. Authored by Policy Manager Brendan Malone, the paper argues against applying traditional banking and securities frameworks to stablecoins, emphasizing their unique characteristics and use cases. The paper begins by acknowledging that while recent U.S. Congressional proposals […]

Santiment Reports XRP’s Record On-Chain Volume and Surge in Development Activity

Blockchain analytics company Santiment reports a significant surge in on-chain volume for XRP, the cryptocurrency that powers Ripple’s cross-border payments solution. Santiment notes that as of the beginning of September, XRP has recorded its highest on-chain volume since February 1st. This increase is accompanied by a marked rise in development activities related to the digital […]

The Ultimate Guide to PYUSD: PayPal’s Stablecoin Explained

Stablecoins have emerged as a bridge between traditional finance and the decentralized world of cryptocurrencies. Among the latest entrants in this space is PYUSD, a product of the global online payments giant PayPal. Launched on 7 August 2023, PYUSD is the result of a strategic collaboration between PayPal and Paxos Trust Limited. This partnership signifies […]

17-Month Losing Streak Brings Stablecoin Market Cap Down to $124 Billion

The total market capitalization of the stablecoin sector in the cryptocurrency space has endured its 17th consecutive monthly decline in August, falling by 1.28% to $124 billion, the lowest level since August 2021. According to CCData’s latest Stablecoins & CBDCs report, both BUSD and TUSD stood out in experiencing significant declines of 9.35% and 9.15% […]

Potential Ramifications of PayPal’s Stablecoin for Ethereum Are ‘Massive’, Says Bloomberg Analyst

Last week, digital payments giant PayPal Holdings, Inc. unveiled its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD), marking a strategic pivot into the Web3 and digital payment sectors. A blend of U.S. dollar deposits and short-term U.S. Treasuries anchors PYUSD. Paxos Trust Company, the entity issuing the stablecoin, guarantees its 1:1 parity with the U.S. dollar. […]

Stablecoins: A Potential Lifeline for the U.S. Dollar’s Global Dominance

The U.S. dollar, long revered as the world’s dominant reserve currency, might find an unexpected ally in its quest to maintain global supremacy: stablecoins. According to an opinion piece by By Brian P. Brooks — who is a former acting U.S. Comptroller of the Currency and a former FDIC Board Member — and Charles W. […]

Crypto Community Reacts to PayPal’s Ethereum-Powered Stablecoin Launch

PayPal’s Groundbreaking Announcement Yesterday, PayPal Holdings, Inc., a dominant force in the digital payments realm, unveiled its Ethereum-based stablecoin, PayPal USD (PYUSD). This strategic move is a testament to PayPal’s ambition to further penetrate the burgeoning world of Web3 and digital-centric payments. According to the details shared by PayPal, PYUSD is anchored by a mix […]

PayPal Launches Ethereum-Powered Stablecoin ‘PayPal USD’ ($PYUSD)

In a landmark development, PayPal Holdings, Inc., a titan in the digital payments space, has taken the wraps off its own stablecoin pegged to the U.S. dollar, dubbed PayPal USD (PYUSD). This initiative marks PayPal’s strategic foray into the rapidly evolving universe of Web3 and digital-centric payments. According to PayPal’s press release, the newly minted […]

Stablecoin Market Cap Hits Lowest Level in Nearly Two Years: CCData Report

The stablecoin sector has kept on declining over the month of July up until the 17th, marking its sixteenth monthly decline to its lowest level since August 2021, falling 0.82% to $127 billion. According to CCData’s latest Stablecoins & CBDCs report, this month USDT continued to remain the dominant stablecoin with a new all-time high […]

Ripple Partners With European FinTech Firm to Harness XRP Ledger for Groundbreaking Axiology Project

In a bid to address the challenges of fraud and money laundering, Europe has initiated several measures to utilize the potential of blockchain technology. The European Commission has launched a comprehensive Digital Financial Package in line with the recently introduced Markets in Crypto Assets regulation (MiCA). This package aims to promote the use of cryptocurrencies […]

Stablecoin Market Cap Shrinks to Lowest Level Since September 2021: CCData Report

The crypto market has seen a shift in the winds, as the total market capitalization of stablecoins experienced a decrease of 0.57% to $128 billion in June, the lowest it’s been since September 2021, according to the latest Stablecoins & CBDCs report by CCData. The figures mark the fifteenth consecutive month of decline in the […]

Crypto Whales Are Stashing Stablecoins, Not Cashing Out: Data

New data from the stablecoin sector of the cryptocurrency space, taken from the Ethereum ($ETH) blockchain, shows that crypto whales haven’t cashed out of the market during its recent turbulence, but rather that they’re waiting in the sidelines while holding onto stablecoins. According to a recent report from cryptocurrency analytics firm Santiment, stablecoin sharks and […]

SEC Chair Gensler: No More Digital Currencies Needed, Digital Forms of Fiat Currencies Suffice

During an interview on CNBC interview on June 6, 2023, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler expressed his views on the current state of digital currencies and the need for cryptocurrency exchanges to adhere to U.S. securities laws. Gensler emphasized that the world already has digital currencies, such as the U.S. dollar, […]

Crypto Whales Buy the Dip After SEC Sues Binance

After the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against leading cryptocurrency exchange Binance, cryptocurrency prices plunged amid a wave of fear, uncertainty and doubt (FUD), smart money investors have quickly started buying the dip. According to data from popular blockchain analytics platform Lookonchain, significant movements of Circle’s stablecoin pegged to the U.S. […]

Arbitrum Set for a Boost with Circle’s Native USDC Launch

In a move set to enhance the functionality of the Arbitrum ecosystem, Circle, the “global financial technology company helping money move at internet speed,” has announced the upcoming launch of its stablecoin, USDC, on the platform. Slated for June 8, 2023, this development will replace the existing Ethereum-bridged version of USDC with a native version. […]

Tether’s Market Cap Reaches New High, Exceeding $83.2B

Tether, the issuer of the widely used Tether (USDT) stablecoin, has announced a new all-time high in its market cap, exceeding the previous record of $83.2 billion set in May 2022. Paolo Ardoino, Tether’s CTO, attributes this milestone to the increasing demand for financial freedom and the unique advantages offered by Tether tokens. According to […]

Stablecoins’ Market Capitalization Contracts for 14th Month in a Row

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 […]

Tether Commits to Buying Bitcoin ($BTC) Using 15% of Net Realized Profits

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 […]

$ADA: Cardano’s Ecosystem Set to Thrive with Latest Deployment of Djed ($DJED)

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 […]

Total Stablecoin Market Capitalization Declines for 13th Consecutive Month

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 […]

$MATIC: Brazilian Financial Powerhouse ‘BTG Pactual’ Launches Polygon-Powered Stablecoin

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 […]

Stablecoins’ Market Capitalization Falls to Lowest Level in 18 Months, Data Shows

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, […]

$ADA: COTI CEO on Why Cardano-Powered Stablecoin $DJED Did Not Lose Its Peg Last Week

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 […]

BNB Whales Dump Millions of BUSD Amid Stablecoin Market Shake Up

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 Exchange (DEX) Trading Volumes Surged Nearly 250% Amid Stablecoin Crisis

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 […]

‘Desperate’ Stablecoin Investor Pays $2 Million for Just $0.05 in $USDT After $USDC and $DAI Depeg

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 […]

$USDC Regains Its Peg After U.S. Treasury Department Says Depositers of SVB Will Be Made Whole

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 […]

Stablecoins’ Market Cap Has Been Falling for Nearly a Year, Report Reveals

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 […]

How Paxos-Issued BUSD’s Regulatory Troubles in the U.S. Affect the Stablecoin Market

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 […]

Cardano-Powered Algorithmic Stablecoin $DJED Now Backed by Over 31.5 Million $ADA

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 […]

Aave Founder and CEO on the Resilience of DeFi

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 […]

COTI’s $DJED Stablecoin: What Is $SHEN and How Its Holders Can Earn Delegation Rewards

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 […]

Financial Giant Société GénÉrale Withdraws $7 Million in DAI From MakerDAO Vault

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 […]

UN to Send USDC to Displaced Ukrainians via Stellar ($XLM) Network

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 […]

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