stablecoins | ForkLog

ForkLog 26 16.04.2025

Ethena Withdraws from German Market Amid Regulatory Concerns

Ethena Labs has announced its withdrawal from operations in Germany. We have agreed with BaFin to wind down all activities of Ethena GMBH and will no longer be pursuing the MiCAR authorization in Germany. As communicated previously, Ethena GmbH has not conducted any mint or redeem activity since March 21, 2025, and all activity has […]

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ForkLog 36 14.04.2025

Visa Joins USDG Stablecoin Consortium

Visa has joined the Global Dollar Network consortium, which backs the USDG stablecoin, according to CoinDesk, citing its own sources. Established in November 2024, the organization initially included Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Robinhood, and Paxos. The latter acted as the issuer of the “stable coin.” The custodian of USDG reserves is DBS […]

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ForkLog 7 05.04.2025

SEC Clarifies Legal Status of Stablecoins

The Corporate Finance Division of the U.S. Securities and Exchange Commission (SEC) outlined the characteristics of stablecoins that are not classified as securities. Crypto assets “designed and sold for use as a means of payment, money transfer, or value storage,” but not for investment purposes, are not considered securities. “The Division believes that the offer […]

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ForkLog 20 05.04.2025

Tether Unfazed by Potential USDT Ban in the United States

Should USDT fail to meet US stablecoin regulations, Tether plans to issue a new asset specifically for the American market. This was revealed by the company’s chief, Paolo Ardoino, to Decrypt. “We believe [USDT] is perfectly suited for emerging markets, but we can create a payment stablecoin that will operate in the US,” he noted. […]

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ForkLog 27 04.04.2025

Stablecoin Veteran Warns Circle of IPO Costs

Circle’s expenses in its bid to go public threaten its position as the issuer of the second-largest stablecoin by market capitalization, according to Kevin Lehtiniitty, CEO of Borderless, in an interview with The Block. The entrepreneur was involved in launching the “first fully reserve-backed” US coin, TrueUSD. His current firm provides infrastructure for financial institutions […]

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ForkLog 19 03.04.2025

US House of Representatives to Vote on Stablecoin Regulation Bill

The US House Financial Services Committee has approved the framework bill STABLE Act for regulating “stablecoins,” which will now proceed to a vote in Congress. H.R. 2392, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025 passed Committee 32-17. pic.twitter.com/pvzTOfTTr1 — Financial Services GOP (@FinancialCmte) April 3, 2025 The document […]

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ForkLog 13 02.04.2025

Justin Sun’s Tweet Shakes FDUSD’s Stability

The stablecoin FDUSD deviated from its dollar peg by approximately 12% following Justin Sun’s claims about the insolvency of First Digital Trust (FDT). Minute chart of FDUSD/USD on Binance. Data: TradingView. First Digital Trust, a Hong Kong fiduciary firm, was hired by Techteryx to manage the reserves of the stablecoin TrueUSD. According to CoinDesk, a […]

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ForkLog 62 02.04.2025

Japan’s Second Largest Bank SMBC to Launch Stablecoin

Sumitomo Mitsui Financial Group, which manages Japan’s second largest bank, SMBC, plans to launch a stablecoin in collaboration with Ava Labs and Fireblocks, according to Nikkei. The financial institution will test the project in the second half of 2025, with the token release scheduled for 2026. Ava Labs will create the blockchain infrastructure, while Fireblocks […]

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ForkLog 54 29.03.2025

Sonic Labs Alters Stablecoin Launch Plans

Instead of a dollar-based algorithmic stablecoin, developers at Sonic Labs plan to launch a “mathematically bound numerical Dirham,” according to the company’s head, Andre Cronje. We will no longer be releasing a USD based algorithmic stable coin. Completely unrelated, we will be releasing a mathematically bound numerical Dirham which is settled and denominated in USD, […]

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ForkLog 41 27.03.2025

Paolo Ardoino Predicts USDT Users to Reach One Billion

The number of USDT stablecoin users has surpassed 400 million globally, according to conservative estimates. This was revealed by Tether’s chief, Paolo Ardoino. Today Tether USDt has (conservatively) more than 400 million users across the world. Soon 1 billion. We always focused on the adoption from the ground up, working in the streets, among other […]

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ForkLog 30 27.03.2025

Wyoming Announces Launch of ‘First State-Issued Stablecoin’

Wyoming plans to issue its own fiat-backed stablecoin by July, according to Bloomberg. If the project comes to fruition, the ‘stablecoin’ will be the first issued by a government entity in the United States. The token will be backed by treasury bonds, cash, and asset repurchase agreements. State legislation mandates maintaining a backing level of […]

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ForkLog 51 26.03.2025

USDC Market Capitalisation Surpasses $60 Billion for the First Time

On March 26, the total market capitalisation of the stablecoin USDC exceeded $60 billion, reaching a new all-time high (ATH). Source: CoinGecko. At the time of writing, the asset’s supply stands at $60.2 billion, marking a 100% increase compared to March of the previous year, when it was at $30 billion. The overall market capitalisation […]

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