XRP price slips as RLUSD market cap hits $53m, liquidations rise

XRP price retreated on Wednesday as a sea of red spread across the cryptocurrency industry ahead of the Federal Reserve’s decision. Ripple (XRP) dropped by over 5%, erasing most of the gains made on Tuesday after the RLUSD stablecoin launch. …

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Tether backs StablR to expand MiCA-compliant euro stablecoin offerings

Tether, the company behind the USDT stablecoin, made an investment in the European firm StablR. The investment comes as the European Union prepares to implement the Markets in Crypto-Assets regulatory framework on December 30, 2024.

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Ripple RLUSD Approval Sparks XRP Rally Amid Regulatory Milestone

Ripple’s XRP token rose more than 10% following the New York Department of Financial Services (NYDFS) approval of the company’s U.S. dollar-backed RLUSD stablecoin, according to announcements made by Ripple’s CEO, Brad Garlinghouse, on December 10.

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Ripple secures NYDFS greenlight to launch RLUSD stablecoin

Ripple CEO Brad Garlinghouse said the firm has secured approval from the New York State Department of Financial Services (NYDFS) to launch its Ripple USD (RLUSD) stablecoin. Garlinhouse made the announcement in a Dec.

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Plus Wallet Conquers Global Markets – MetaMask Teams with Space ID & Stripe Seals a $1.1 Billion Deal!

The cryptocurrency sector is witnessing pivotal developments within the stablecoin and digital wallet arenas. Stripe, a leading payment service, recently made waves by securing the stablecoin platform Bridge for an impressive $1.

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Stripe Boosts Crypto Game With $1.1 Billion Bridge Buyout

Stripe made a groundbreaking move as the online payment processing platform tries to position itself as a key player in the cryptocurrency space. The fintech company has reportedly bought the stablecoin platform Bridge in a landmark acquisition deal, a transaction that sent ripples across the cryptocurrency arena.

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Ripple Takes Major Step Toward RLUSD Stablecoin Launch By Announcing Key Exchange Partners

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Is France’s crypto je ne sais quoi no more?

Over the last decade, France has established itself as the ideal base for the world’s largest crypto businesses. Binance, Crypto. com and stablecoin issuer Circle all have made Paris their European headquarters.

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Philippines’ stablecoin PHPC debuts on Ronin sidechain

Developed by the Philippines’ crypto exchange Coins.ph, the PHPC stablecoin tied to the Philippine Peso has made its way to Ronin. PHPC, an Ethereum-based stablecoin created by Coins.ph, is now available on Ronin, enabling local blockchain game players to use…

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Circle CEO describes unprecedented optimism about the future of crypto

Circle CEO Jeremy Allaire said he has “never been more optimistic than right now” about the future of crypto in his 11 years leading the firm behind the USDC stablecoin. In a detailed social media post, Allaire outlined his reasons for this positive outlook, emphasizing the potential of crypto and the progress made over the […] The post Circle CEO describes unprecedented optimism about the future of crypto appeared first on CryptoSlate.

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Study Uncovers Surprising Data: 90% Of Stablecoin Transactions Not Driven By Human Users

In a recent report by Bloomberg, it has been revealed that more than 90% of stablecoin transaction volumes do not originate from genuine users, according to a new metric co-developed by Visa. Stablecoin Market Faces Data Reality Visa and Allium Labs have created a dashboard designed to filter out transactions initiated by bots and large-scale traders to isolate those made by real individuals.

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Binance converts assets of its SAFU insurance fund into Circle’s USDC

Crypto exchange Binance has made a notable reorganizational move for its billion-dollar SAFU insurance fund, with all the assets in it converting into the USDC stablecoin. Binance has announced a sudden update for its emergency insurance fund called SAFU, converting…

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USDC gains made easy with Octoblock DeFi Rewards

In the constantly developing sphere of decentralized finance (DeFi), Octoblock has gained a reputation as a game-changer, where users can easily gain USDC, a stablecoin pegged to the US dollar, by holThe post USDC gains made easy with Octoblock DeFi Rewards appeared first on AMBCrypto.

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Uniswap integrates Blast Network, faster swaps and native yield for ETH and USDB

Uniswap, a leading decentralized exchange protocol, has made a significant move by integrating with the Blast network. This integration allows users to access faster and more cost-effective swaps and liquidity provisions while introducing native yield for Ethereum (ETH) and the USDB stablecoin.

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Tether adds 8,888 Bitcoins to its reserves, holding more than 75K Bitcoin

Stablecoin issuer Tether made headlines on March 31, as it acquitted 8,888 Bitcoin, valued at $618 million. The recent acquisition significantly boosts Tether’s reserves prior to the upcoming Bitcoin halving event.

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Solana surpasses Ethereum as a new altcoin joins the contest

As 2024 starts, Solana (SOL) has emerged as a frontrunner, surpassing Ethereum in stablecoin volume and dominating search interest. Simultaneously, Pullix, an upcoming hybrid exchange, made waves with its “Trade-To-Earn” PLX token presale.

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Tether Strikes Gold In Bitcoin: Profits Soar Above $1 Billion Amid Bull Market

Tether, known for its USDT stablecoin, has recently made headlines with its Bitcoin holdings soaring in value, generating a profit exceeding $1 billion. Notably, this significant financial gain can be attributed to the stablecoin issuer’s approach of buying Bitcoin using a portion of its net profits.

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Tether Freezes A Staggering $225 Million In USDT – Details

USDT stablecoin issuer, Tether has made the largest USDT freeze in its history. The significant move is a result of a joint investigation conducted by Tether in collaboration with US law enforcement agencies targeting a human trafficking organization in Southeast Asia  Tether Initiates Largest USDT Freeze Crypto firm Tether has initiated a large-scale USDT freeze, […]

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Tether’s funds worth over $1b reportedly appear at the heart of legal battle

The largest stablecoin issuer Tether deposited more than $1 billion with a firm currently at the center of a legal battle in London’s High Court. Tether‘s deposit worth more than $1 billion, which was made with a subsidiary of Britannia…

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USDC launches on Sei as Circle invests in layer 1 blockchain

Layer 1 blockchain Sei welcomes USDC as Circle makes strategic investment USDC will provide Sei developers and entrepreneurs access to fast and instantaneous transaction settlements Circle Ventures, the investment arm of USDC stablecoin issuer Circle, has made a strategic investment in Layer 1 blockchain Sei, the firms announced on Wednesday.

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Circle eyes IPO in 2024 after failure in 2021: Bloomberg

Stablecoin issuer Circle Internet Financial is considering going public, although no final decision has been made yet. USDC issuer Circle Internet Financial Ltd. is weighing an IPO in 2024, three years after the firm announced its plans to go public…

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UK Crypto Surge: Leading Europe’s $252 Billion Growth – But How?

Among the countries across the globe vying for dominance in the evolving crypto market, the United Kingdom has recently made its mark. The recent influx in crypto activity in the UK, according to a study by Chainlaysis, comes in the wake of increased regulations targeting the digital currency and stablecoin sectors.

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Genesis Ordered to Comply With Terra Subpoena Within 5 Days

The crypto firm failed to comply with requests made as part of a probe into the collapsed stablecoin, a New York judge said

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Tether Overhauls Its Leadership Ranks, Longtime CTO Paolo Ardoino Promoted To CEO

Stablecoin issuer Tether has announced the promotion of long-time CTO Paolo Ardoino to chief executive officer as the company looks to become a “tech-centric organization”. Ardoino To Become Tether’s CEO In December Tether, the issuer of the world’s biggest stablecoin by market value, has made an unexpected management overhaul.

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Tether invests in Northern Data Group, hinting at AI and blockchain synergy

Tether, the company behind the USDT stablecoin, has made a strategic investment in Northern Data Group, a German crypto mining firm. While the exact investment amount remains undisclosed, the move is a significant endorsement of emerging technologies, particularly in the realms of artificial intelligence (AI), peer-to-peer (P2P) communications, and data storage solutions.

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Tether makes AI foray with huge bet on Cloud GPUs

Tether has made an entry into the AI space with a strategic investment in Bitcoin miner Northern Data. Media reports say Tether purchased 10,000 Nvidia H100 GPUs worth $420 million. Tether, the company behind the $83 billion stablecoin USDT, has marked its foray into the AI tech space with a strategic investment in Europe-based crypto […] The post Tether makes AI foray with huge bet on Cloud GPUs appeared first on CoinJournal.

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Terra Validator Opposes USTC Burning, Pushes Alternative Plan To Regain Dollar Peg

A Terra Classic community member with the X handle Rexyz has kicked against burning USTC tokens to enable the stablecoin to recover its dollar peg. According to the X post made on September 18, Rexyz outlines an alternative solution that may lead to USTC being re-valued $1 as well as push Terra Classic (LUNC) price to reach the $1 price mark.

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Visa Embraces Solana Blockchain for USDC Settlements

Visa, the global payment giant, has made an exciting stride by extending its utilization of USDC stablecoin for settlement payments onto the Solana blockchain. This strategic move signifies Visa’s commitment to harnessing blockchain technology’s potential in the realm of payments.

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Stablecoin Bill Becomes Political Battleground: Fed And GOP Face Off

Leading Republican House Financial Services Committee members have voiced deep concerns over recent actions taken by the Federal Reserve Board (Fed) that they believe undermine the progress made by Congress in establishing a regulatory framework for payment stablecoin.

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Cardano Q2 Surge: Stablecoin Soars, TVL Skyrockets, And Dapp Transactions Hit Record Highs

Cardano (ADA), the blockchain platform renowned for its scalability and technological approach, has made significant strides in the crypto market, as highlighted by the recently released Messari report.

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Cardano's TVL surges thanks to stablecoin adoption but there's a catch

Cardano’s native stablecoins made significant contributions to its TVL. Cardano network activity slows down, influencing ADA demand. What are the factors that have been driving Cardano’sThe post Cardano's TVL surges thanks to stablecoin adoption but there's a catch appeared first on AMBCrypto.

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PayPal’s stablecoin: potential impact and user reactions

PayPal’s stablecoin, PYUSD, made its debut on August 7. Explore PYUSD, what it means for crypto, and how the community reacted. The financial landscape, long accustomed to gradual evolution, witnessed a seismic shift on August 7 when PayPal, a vanguard…

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Tether declares victory in class action lawsuit as judge dismisses case

Tether declared a legal victory on Aug. 4 as it reported that a class action suit concerning its USDT stablecoin had been dismissed in court. The case began in December 2021 when plaintiffs Matthew Anderson and Shawn Dolifka made allegations about USDT’s backing.

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Powell says stablecoins are a ‘form of money’ that central banks should supervise

U. S. Federal Reserve Chair Jerome Powell said the regulator views payment stablecoins as a “form of money” and believes central banks should supervise them. Powell made the statement in response to Congresswoman Maxine Waters asking whether stablecoin issuers should be licensed and regulated by the Fed during a June 21 hearing.

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Circle dumps U.S. Treasury bonds to protect USDC, Avorak Unaffected

The stablecoin issuer Circle has made a drastic decision by ditching U. S. treasury bonds to protect its stablecoin USDC. Circle believes that the inflation rate embedded within the fiat ecosystem might become a barrier causing the firm to fall apart.

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SEC alleges Binance sent Paxos nearly $20B in commingled funds via Merit Peak in 2021

The U. S. Securities and Exchange Commission (SEC) alleged that Binance sent a foreign affiliate of stablecoin issuer Paxos nearly $20 billion of commingled funds in 2021, according to a declaration made by Sachin Verma, an Assistant Chief Accountant of the Commission.

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Circle CEO says that AI bots are transacting USDC, creating wallets

Circle CEO Jeremy Allaire said May 25 that artificial intelligence (AI) bots are engaging with his company’s USDC stablecoin. AI and blockchain are a match Allaire wrote on Twitter: “[Artificial intelligence] and Blockchains are made for each other… We are already hearing about AI Bots spinning up on-chain wallets and using USDC.

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XT.COM Adds Ougon Zakura FT (OZFT) to its Main Zone, Pioneering Gold-Backed Stablecoin Trading

Singapore-based trading platform, XT.COM, has revealed via an official announcement the listing of Ougon Zakura FT (OZFT), a gold-pegged stablecoin, in its Main zone. The OZFT/USDT trading pair was made available for trading on May 16, 2023, opening up new opportunities for users seeking a blend of stability and convenience. Following the listing of Ougon […]

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Regulators Should Not 'Front-Run' Congress on Stablecoins

The House has made it clear that passing a stablecoin bill is a top priority. Regulators – like the SEC – shouldn’t get ahead of the legislative process, say Bain Capital’s Tuongvy Le and Khurram Dara.

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Tether to buy Bitcoin based on monthly net profits

Tether said that Bitcoin’s decentralized nature and its long-term store of value made it an obvious choice for the stablecoin issuer.

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Jump Trading’s Covert Operations: How They Made $1.28 Billion From Terra Labs’ Downfall

According to recent court filings by the Securities and Exchange Commission (SEC), the Chicago-based firm Jump Trading LLC secretly propped up Terra (UST), the algorithmic stablecoin created by Do Kwon, a year before its eventual collapse.

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Republicans propose stablecoin legislation taking away SEC power

A group of House Republicans has introduced a draft bill limiting the power of the Securities and Exchange Commission (SEC) over stablecoins used for payments. The bill, still under negotiation, was made public on April 24 and came as the…

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Tether Stability Made It the Safest Stablecoin Bet Amid U.S. Banking Crisis, Analysts Say

Tether sold at a slight premium earlier this month even as most stablecoins were dented.

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Circle Scrambles to Right USDC After Signature Bank Failure

Circle Internet Financial’s $3. 3 billion cash reserves problem was seemingly solved Sunday when federal regulators promised that depositors of failed Silicon Valley Bank would be made whole in short order.

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USTC up 12% as Binance unveils new trading pair

After reports made rounds that Binance had adopted a trading pair with USDT, the price of the Terra Classic USD stablecoin, commonly known as USTC, went up by 12%.

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TUSD crosses this landmark and reaches $1 billion market cap, more inside

True USD has become the fifth-largest stablecoin by market capitalization. The regulatory concerns with BUSD have made TUSD become a viable alternative. In the past few weeks, True USD [TUSDThe post TUSD crosses this landmark and reaches $1 billion market cap, more inside appeared first on AMBCrypto.

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Visa Seeking to Build ‘Muscle Memory’ to Stablecoin Settlements

Coinspeaker Visa Seeking to Build ‘Muscle Memory’ to Stablecoin Settlements Recently, the payment giant has been testing different ways to get over the existing obstacles and check if it will be able to accept settlement payments made using stablecoins on the Ethereum (ETH) blockchain.

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Stablecoins and CBDCs might play 'meaningful role' in payments — Visa CEO

Visa began working on a blockchain interoperability project in Sept. 2021 to support CBDC and stablecoin adoption but few updates have been made since.

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USDC, a sudden ETH whale interest, and what it means for the stablecoin

ETH whales regain interest in USDC as stablecoin wars start to heat up USDC purchases in the last 24 hours increased in the last 24 hours  Circle’s USDC stablecoin made it to the list of The post USDC, a sudden ETH whale interest, and what it means for the stablecoin appeared first on AMBCrypto.

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