stablecoins | ForkLog

ForkLog 6 28.07.2022

US Congress runs out of time to finish stablecoin bill before recess

A bipartisan bill to establish oversight of stablecoins will not be introduced before the August recess of the US Congress, acknowledged by the chair of the House Financial Services Committee, Maxine Waters.

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ForkLog 12 27.07.2022

Tether pledges to zero out exposure to commercial paper in its reserves

The collateral portfolio backing the Tether (USDT) stablecoin contains no securities issued by Chinese companies. Its issuer pledged to bring the share of commercial paper to zero by November from the current $3.7 billion.

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ForkLog 8 26.07.2022

Arcane Research: USDC to overtake USDT in market capitalization this autumn

Arcane Research forecast continued growth in USDC's market capitalization from Circle and a further decline in the market share of the largest stablecoin — USDT from Tether.

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ForkLog 24 22.07.2022

Curve Finance to launch its own stablecoin

The decentralized exchange Curve Finance is preparing to launch its own stablecoin. This was stated by its founder Michael Egorov in a conversation with Spartan Group co-founder Kelvin Koh at the Redefine Tomorrow 2022 conference.

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ForkLog 16 19.07.2022

Circle confirms plans for public listing in Q4 2022

The co-emitter of the USD Coin (USDC) stablecoin, Circle, will go public in the fourth quarter of 2022. This was confirmed in an interview with Decrypt by its CFO Jeremy Fox-Djin.

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ForkLog 17 15.07.2022

Circle releases first monthly report on USDC reserves

$42.12 billion of the USD Coin (USDC) collateral was held in U.S. Treasuries, $13.58 billion in cash at regulated banks. Such data are contained in Circle's unaudited co-emitter report as of the end of June.

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ForkLog 10 11.07.2022

ECB deems stablecoins impractical as a means of payment

“Stablecoins” are impractical as a means of payment; their current form is not suitable for use in the real economy. This is stated in the ECB's Financial Stability Review.

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ForkLog 13 08.07.2022

Aave proposes launching the decentralized stablecoin GHO

Developers at Aave proposed launching a DeFi-native, multi-collateral stablecoin called GHO, pegged to the US dollar.

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ForkLog 15 08.07.2022

MakerDAO to provide $100 million loan to a US bank

The MakerDAO DeFi platform community approved the creation of a vault with a $100 million DAI limit for the Huntingdon Valley Bank, founded in 1891 in the United States.

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ForkLog 19 06.07.2022

Chinese court rules salary paid in USDT illegal

In China, employers cannot pay employees salaries in stablecoins such as USDT. The Beijing Chaoyang District People’s Court issued the relevant ruling, according to Beijing Daily.

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ForkLog 11 04.07.2022

Stablecoins rally in Argentina after the economy minister’s resignation

The unexpected resignation of Argentina's economy minister, Martín Guzmán, sparked a frenzied demand for stablecoins on local Bitcoin exchanges. According to Criptoya, the USDT rate jumped to 262.9-318.9 pesos, implying a premium of 109.5%-154.2%.

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ForkLog 11 27.06.2022

WSJ: Hedge funds build up short positions in USDT

Among cryptocurrency-focused hedge funds, the number of short positions in the stablecoin USDT is rising amid negative market conditions and the collapse of Terra's ecosystem. The Wall Street Journal reports.

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