Category: Stablecoins

Big Three Credit Agency Fitch Says Stablecoin Growth Could Be ‘Disruptive’ to Securities Markets

Big Three Credit Agency Fitch Says Stablecoin Growth Could Be ‘Disruptive’ to Securities Markets

American credit rating agency Fitch Ratings, one of the ‘Big Three’ credit rating agencies, has published a report that says stablecoin growth could affect securities and commercial paper (CP) markets. The agency says stablecoins could be “disruptive” and “stablecoin-related turbulence” could “transmit shocks” to other markets. Fitch Ratings: ‘Stablecoins Could Be Disruptive for CP Markets’ […]

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Circle launches USDC stablecoin on Hedera network

Circle launches USDC stablecoin on Hedera network

Circle, the issuer of the USDC stablecoin, has expanded the coin’s support to the Hedera Hashgraph blockchain network. This makes USDC the first stablecoin available on Hedera. Launched in 2018, Hedera is a proof-of-stake blockchain network owned and governed by different organizations, including Google and IBM. These organizations run “permissioned” nodes on the network. Over […]

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Coingecko Publishes Q3 Crypto Report — BTC Outperformed Every Major Asset Class, Altcoins Decouple

Coingecko Publishes Q3 Crypto Report — BTC Outperformed Every Major Asset Class, Altcoins Decouple

On Thursday, the crypto asset aggregation portal Coingecko published the firm’s 2021 third-quarter report which shows a number of different findings. According to the study, for the most part, the crypto economy recovered from the market downturn in May as the top 30 market caps grew by 31% in Q3. The report shows that altcoins […]

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Defi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors

Defi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors

On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled […]

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Bank of England leader calls crypto regulation a ‘matter of urgency’ for financial stability

Bank of England leader calls crypto regulation a ‘matter of urgency’ for financial stability

Tightening ties between traditional finance and cryptocurrency markets mean that regulators around the world can’t stop talking crypto. On October 13, Jon Cunliffe, deputy governor of financial stability at the Bank of England, spoke on the risks crypto poses to the financial system, particularly in  stablecoins, decentralized finance and derivatives trading on unbacked digital assets.  […]

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Millions of Wix Merchants Can Now Accept 12 Different Cryptocurrencies

Millions of Wix Merchants Can Now Accept 12 Different Cryptocurrencies

On Tuesday, the Atlanta-based cryptocurrency payments company Bitpay announced the Israeli software company Wix has enabled its Software as a service (SaaS) e-commerce product to accept crypto-asset payments. The integration will allow Wix merchants to accept 12 different cryptocurrencies such as bitcoin, dogecoin, bitcoin cash, ethereum, litecoin, and stablecoins as well. SaaS Platform Wix Implements […]

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Senator calls out Treasury Secretary Yellen’s handling of pending stablecoin report

Senator calls out Treasury Secretary Yellen’s handling of pending stablecoin report

Senator Pat Toomey is not pleased with the U.S. Treasury’s much-anticipated work on stablecoins.  In an October 7 letter to Treasury Secretary Janet Yellen, Toomey criticized the process behind a much-anticipated report on stablecoins from the President’s Working Group. The PWG is a collective of U.S. financial regulators including the Treasury. They are currently working […]

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Old News With Dubious Sources: Tether Responds to Bloomberg’s Accusations

Old News With Dubious Sources: Tether Responds to Bloomberg’s Accusations

Bloomberg launched a scathing attack on the stablecoin issuer in a BusinessWeek article on Oct. 7 titled “Anyone Seen Tether’s Billions?” In it, the financial news giant stated that the stablecoin is essentially a fraud because it does not have the assets to back it. At the time of writing, there were 69 billion USDT […]

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Tether’s assets include $1 billion with crypto lending platform Celsius: Bloomberg

Tether’s assets include $1 billion with crypto lending platform Celsius: Bloomberg

In the course of an investigation into Tether published on October 7, Bloomberg’s Zeke Faux unearthed new information as to the assets backing Tether’s USD-pegged stablecoin. With a current supply of $72.6 billion according to The Block’s data, Tether’s backing has long attracted major interest. Controversy over that backing has proved central to developing standards […]

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Youth Fashion Retail Chain Pacsun Now Accepts 11 Cryptocurrencies

Youth Fashion Retail Chain Pacsun Now Accepts 11 Cryptocurrencies

On October 5, the youth fashion and retail brand Pacsun announced the company is now accepting cryptocurrencies via Bitpay’s payment services. Pacsun says the company has a youthful audience that is “very tech-oriented” and the firm has seen an “increasing desire towards cryptocurrency.” Pacific Sunwear of California Goes Crypto The American retail clothing brand, Pacific […]

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