stablecoins | ForkLog

ForkLog 17 12.03.2023

Circle promises to cover ‘any shortfall’ in backing for USDC

Circle uses corporate funds and “external capital” to back USD Coin (USDC) if it is unable to timely and fully return part of the stablecoin reserves held on accounts at Silicon Valley Bank.

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ForkLog 37 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).

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ForkLog 43 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).

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ForkLog 12 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.

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ForkLog 15 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The issuer of Tether (USDT) said the conclusions in The Wall Street Journal (WSJ) article were 'outdated assertions' that are 'inaccurate and misleading'.

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ForkLog 8 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.

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ForkLog 14 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.

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ForkLog 34 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.

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ForkLog 25 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.

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ForkLog 8 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.

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ForkLog 17 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.

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ForkLog 21 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.

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