stablecoins | ForkLog

ForkLog 7 04.11.2024

Tether Explores USDT Gas Payment Mechanism

Various Layer 2 solutions are working to support USDT for gas payments, according to Paolo Ardoino, CEO of the stablecoin issuer Tether. I hear again few rumors about a Tether Chain.Tether is not planning to build an official blockchain at this time.Simply different independent L2 solutions are working to support $USDt for gas fees. — […]

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ForkLog 6 03.11.2024

Stablecoin Growth Insufficient to Boost Bitcoin, Says Expert

While the supply of stablecoins is on the rise, this factor alone is insufficient to significantly boost the price of the leading cryptocurrency. This view was expressed by CryptoQuant CEO Ki Young Ju, as reported by Cointelegraph. According to him, today “stablecoins” are primarily used for transfers or as a store of value in countries […]

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ForkLog 11 01.11.2024

Tether’s Net Profit Reaches $7.7 Billion in 2024

In the third quarter, Tether, the issuer of the USDT stablecoin, reported a net profit of $2.5 billion. Since the beginning of the year, this figure has reached $7.7 billion. Tether Hits $7.7 billion 2024 Nine-Month Profits, $102.5 billion in U.S. Treasury Holdings, Almost $120 billion USD₮ Circulation, and an Over $6 billion Reserve Buffer […]

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ForkLog 40 31.10.2024

US Treasury Reports Increased Demand for Bonds Driven by Stablecoins

The rise of stablecoins has led to increased demand for short-term US Treasury bonds, according to a report from the Treasury Department. The department estimates that stablecoin issuers have invested $120 billion in debt securities. “Stablecoins play an integral role as intermediaries in transactions on digital asset markets. More than 80% of all cryptocurrency operations […]

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ForkLog 71 28.10.2024

Ethena Team Accused of Misappropriating 180 Million ENA Tokens

Developers of the USDe stablecoin—Ethena Labs—have been accused of improperly using 180 million native ENA tokens for farming. This was reported by a researcher known as Nomad. Alert: Important Notice for ENA/USDe Holders The Ethena team is currently using 180M ENA tokens (25% of SENA supply that earns sats) to farm sats in Season 3, […]

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ForkLog 46 26.10.2024

Paolo Ardoino Refutes WSJ Article on US Investigation into Tether

US authorities are investigating Tether, the issuer of USDT, for potential violations of sanctions and anti-money laundering regulations, according to The Wall Street Journal, citing sources. The newspaper reports that the Manhattan District Attorney’s office is examining whether the company’s stablecoin was used by third parties for illegal activities such as terrorism, drug trafficking, and […]

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ForkLog 37 21.10.2024

Stripe Acquires Bridge for $1.1 Billion

Payment service Stripe has acquired the Web3 company Bridge for $1.1 billion, as announced by TechCrunch founder Michael Arrington. This deal is done. $1.1b https://t.co/J7ppK4uHw0 — Michael Arrington ?‍☠️ (@arrington) October 20, 2024 The acquisition will enable Stripe to leverage Bridge’s expertise in seamless cross-border payments in USDT and USDC, providing the fintech company with […]

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ForkLog 21 16.10.2024

Tether Reports 330 Million USDT Users

As of the end of the third quarter of 2024, the stablecoin USDT is utilized by 330 million cryptocurrency wallets and on-chain accounts, according to its issuer, Tether. Tether Insights Vol 1 How Many USDt Users Are There? Read more: https://t.co/KWycnb6xDfhttps://t.co/sZwx9tUtJ8 — Tether (@Tether_to) October 16, 2024 The company compared this figure to the population […]

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ForkLog 10 15.10.2024

Ripple Partners with Bitstamp and Bitso for RLUSD Stablecoin Exchange

Global access to Ripple’s RLUSD stablecoin for institutions and users will initially be facilitated by platforms such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Today at #RippleSwell, we’re proud to announce our Ripple USD exchange partners. Upon regulatory approval, $RLUSD will be globally available for institutions and users from @UpholdInc, @BitStamp, @Bitso, […]

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ForkLog 13 14.10.2024

UAE Central Bank Grants Preliminary Approval for Dirham-Based Stablecoin

CBUAE has granted AED Stablecoin preliminary approval to issue a dirham-based stablecoin, AE Coin, in accordance with the Payment Token Services Regulation. This was reported by Gulf Today. The firm has emerged as the frontrunner in the race to become the first issuer of a regulated stablecoin pegged to the local currency. If fully approved, […]

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ForkLog 21 11.10.2024

Stripe Introduces USDC and USDP Payment Service

Payment service provider Stripe has incorporated stablecoins USDC and USDP as payment options on its checkout page, reports Bloomberg. On the first day, customers from over 70 countries utilized this option. “We are doing what internet businesses need, which is to reach more customers at lower costs. ‘Stablecoins’ are showing early signs of being able […]

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ForkLog 1 05.10.2024

Coinbase to Restrict Access to Certain Stablecoins in the EU

Coinbase users in the European Union will lose access to stablecoins that do not comply with the MiCA legislation. This was reported by The Block, citing a statement from the cryptocurrency exchange. “Given our compliance obligations, we intend to restrict services to users in the [EEA] for stablecoins that do not meet MiCA requirements by […]

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