stablecoins | ForkLog

ForkLog 8 07.02.2024

Polish City Launches Stablecoin for Local Businesses

The authorities of Minsk Mazowiecki, a Polish city with a population of 37,500, have introduced a stablecoin called MinsCoin, aimed at local entrepreneurs, on the UrbanChange platform. This was reported by Blockworks. UrbanChange issues stablecoins backed by USDC for use in cities. The developer is Colu Technologies from Israel. The technical solution was made possible […]

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ForkLog 14 07.02.2024

HAI Stablecoin Project Announces Airdrop Ahead of Mainnet Launch

The team behind the lending protocol and decentralized stablecoin HAI has announced an airdrop of the governance token KITE ahead of its mainnet launch on the Optimism platform. The countdown has started! HAI DAO is now accepting applications for DAO delegates and distributing its governance token$KITE governance tokens will be available for claim by @reflexerfinance, […]

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ForkLog 12 02.02.2024

JPMorgan Highlights Risks to Industry from Tether’s Dominance

The increasing dominance of Tether poses a negative factor for the stablecoin market and the broader crypto ecosystem, according to analysts at JPMorgan, reports The Block. Data: JPMorgan. “Tether is at risk due to a lack of regulatory compliance and transparency,” the report states. Experts noted the US Congress’s consideration of the Stablecoin Transparency Act […]

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ForkLog 9 02.02.2024

Russia Proposes Amendments for Stablecoin Use in Foreign Trade

A group of deputies from the Communist Party faction has submitted a bill to the State Duma introducing the concept of a secured stablecoin and permitting its use in foreign trade transactions. The document is published in the parliamentary electronic database. The amendments are proposed for the law “On Digital Financial Assets” (“On DFA”) and […]

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ForkLog 12 01.02.2024

Tether’s Q4 Net Profit Reaches $2.9 Billion

Tether, the issuer of the USDT stablecoin, reported a record net profit of $2.9 billion for the October-December period, according to its attestation report. Of this amount, $1 billion was attributed to interest from U.S. Treasury bonds, with the remaining sum resulting from positive revaluation of reserves in gold and bitcoin. The net profit for […]

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ForkLog 11 29.01.2024

Hong Kong Seeks Approval for Spot Bitcoin ETF

The Hong Kong branch of China’s asset management firm, Harvest Fund Management, has submitted a proposal to the Securities and Futures Commission (SFC) to launch a spot bitcoin ETF, according to Tencent News. The publication notes that the regulator may permit the listing of the product after the Lunar New Year celebrations conclude on February […]

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ForkLog 12 22.01.2024

Solana’s Stablecoin Transfer Volume Hits Record $303 Billion

Since the beginning of the year, the volume of stablecoin transfers on the Solana blockchain has reached $303 billion. This figure has already surpassed the December 2023 value of $297 billion and has grown 26.2 times compared to January last year ($11.56 billion), according to Artemis. Stablecoin transfer volume surpassed $367 billion for the week […]

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ForkLog 25 18.01.2024

TUSD Stablecoin Dips to $0.97

On January 18th, the depegging of the stablecoin TrueUSD (TUSD) intensified, with its price dropping to $0.97, according to CoinGecko. TUSD Quotes. Source: CoinGecko. The stablecoin began losing parity with the US dollar on January 15th. Over the past 24 hours, Binance users sold TUSD in exchange for USDT amounting to approximately $301 million, while […]

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ForkLog 27 16.01.2024

Circle CEO Predicts U.S. Leadership in Stablecoin Regulation

Jeremy Allaire, founder and CEO of Circle, has expressed optimism about the prospects for global stablecoin regulation in 2024, predicting that the United States will take the lead. The head of the USDC issuer believes that as part of broader cryptocurrency regulations, U.S. authorities will propose investor protection standards for the stablecoin sector. Allaire opines […]

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ForkLog 32 16.01.2024

TUSD Stablecoin Loses Dollar Peg

On January 15, the “stablecoin” TrueUSD (TUSD) lost its parity with the US dollar, dropping by 1.3% to $0.984. TUSD Chart. Data: CoinMarketCap. The loss of the peg occurred amid a significant volume of TUSD sales on the Binance crypto exchange. At the time of publication, traders had sold stablecoins worth over $451 million in […]

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ForkLog 12 15.01.2024

Fidelity Sees Benefits for DeFi and Stablecoins in Potential Fed Rate Cuts

Institutions may renew their interest in DeFi products and stablecoins if yields in TradFi decline due to the policies of the Federal Reserve. This forecast was presented by Fidelity. Analysts noted that the Federal Reserve’s rate hikes have driven institutions away from the crypto space towards safer traditional fixed-income instruments. According to the report, DeFi […]

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ForkLog 12 11.01.2024

Aave Community Backs Integration of PayPal’s PYUSD Stablecoin

99.99% of voters supported the integration of PayPal’s PYUSD into the DeFi platform Aave’s pools, achieving the necessary quorum. The initiative was overwhelmingly backed. Source: Aave. The vote commenced on December 18 and will conclude on January 11 at 8:21 UTC. The initiative followed a December decision by the decentralized exchange Curve to list PYUSD. […]

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