stablecoins | ForkLog

ForkLog 30 11.03.2023

Algorithmic DAI and FRAX Lose Peg to the US Dollar Following USDC

Algorithmic stablecoins DAI and FRAX have lost their peg to the US dollar amid similar troubles facing the stablecoin USDC after the collapse of Silicon Valley Bank (SVB).

AI translated

ForkLog 26 11.03.2023

USDC loses peg to the dollar amid SVB collapse

The USD Coin (USDC) stablecoin lost its peg to the US dollar and, at the time of writing, trades at $0.92 after its issuer Circle announced it held $3.3 billion in reserves at the government-closed Silicon Valley Bank (SVB).

AI translated

ForkLog 9 06.03.2023

Bloomberg: Babel Finance to issue a stablecoin to settle debts

The crypto-financial-services provider Babel Finance plans to issue a stablecoin to settle debts with creditors. Bloomberg reports this.

AI translated

ForkLog 10 06.03.2023

Tether calls WSJ article on shadow schemes misleading

The issuer of Tether (USDT) said the conclusions in The Wall Street Journal (WSJ) article were 'outdated assertions' that are 'inaccurate and misleading'.

AI translated

ForkLog 7 03.03.2023

Market capitalization of the BUSD stablecoin falls below $10 billion

The market capitalization of the Binance USD (BUSD) stablecoin fell below $10 billion for the first time since late June 2021, according to CoinGecko.

AI translated

ForkLog 9 02.03.2023

Three Japanese banks to test stablecoins on the Japan Open Chain

Tokyo Kiraboshi Financial Group, Minna no Bank and The Shikoku Bank will test stablecoins built on the Japan Open Chain blockchain.

AI translated

ForkLog 17 28.02.2023

Opinion: Jane Street trading firm may have helped precipitate Terra’s collapse

The head of Wintermute's research department, Igor Igamberdiev, traced a transfer that could destabilise the Terra USD (UST) price.

AI translated

ForkLog 15 28.02.2023

Forbes points to Binance practices eerily similar to ‘FTX maneuvers’

In late 2022, Binance moved about $1.78 billion of collateral for USDC issued on the BNB Beacon Chain and BNB Smart Chain networks to Cumberland, Alameda and other market makers 'for undisclosed purposes'. Forbes reports.

AI translated

ForkLog 7 24.02.2023

Circle CEO says SEC should not regulate stablecoins

The U.S. Securities and Exchange Commission (SEC) is not the right regulator for stablecoins. This view was voiced by Circle CEO Jeremy Allaire in an interview with Bloomberg.

AI translated

ForkLog 9 23.02.2023

Bank of Israel issues guidance for stablecoin issuers

The Bank of Israel published a set of requirements for stablecoin issuers. The recommendations envisage banning algorithmic stablecoins if they are widely used in payments.

AI translated

ForkLog 13 23.02.2023

Frax Finance community shifts away from algorithmic backing of FRAX stablecoin toward full reserve backing

The Frax Finance community has decided to gradually transition FRAX from algorithmic backing to full reserve backing.

AI translated

ForkLog 12 15.02.2023

Opinion: Pressure on BUSD does not pose risks to other stablecoins

Regulators are not targeting all 'stablecoins', applying harsh measures against Paxos, the issuer of Binance USD (BUSD). This was stated by Marcus Tillen, head of research at Matrixport's crypto-financial services division.

AI translated

#stablecoins