stablecoins | ForkLog

ForkLog 19 10.05.2022

US Treasury secretary Janet Yellen comments on UST stablecoin incident

U.S. Treasury Secretary Janet Yellen urged Congress to pass legislation regulating stablecoins by the end of 2022. At a hearing of the Senate Banking Committee she referenced the incident with the algorithmic stablecoin TerraUSD (UST), which lost its peg to the dollar.

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ForkLog 17 10.05.2022

UST Stablecoin Loses Dollar Peg Amid Crypto-Market Collapse

Against the backdrop of the crypto market crash, Terra's algorithmic stablecoin TerraUSD (UST) again lost its peg to the US dollar. In the night of May 10, the asset traded below $0.62 (Coinbase).

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ForkLog 7 10.05.2022

Fed warns of risks linked to stablecoins

Stablecoins pose one of the risk areas for the financial system due to potential problems converting them into fiat. This is stated in the Federal Reserve's new Financial Stability Report.

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ForkLog 21 09.05.2022

Opinion: 91% of Anchor users slept through the UST incident

The withdrawal of $1.42 billion from the Anchor protocol on May 7 affected 11,400 addresses. These calculations were provided by SplitBrick DAO founder Pedro Ojeda.

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ForkLog 18 09.05.2022

LFG allocates $1.5bn to back the UST peg

The Luna Foundation Guard (LFG) Council will provide a $1.5 billion loan to OTC traders to back the {{AOPEN_1}}algorithmic stablecoin{{ACLOSE_1}} TerraUSD (UST) to the dollar amid market volatility.

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ForkLog 34 08.05.2022

UST stablecoin briefly lost its peg to the US dollar amid Anchor outflows

Against the backdrop of a decline in deposit yields over a little more than two days, more than 2.2 billion UST were withdrawn from the Anchor protocol. As a result, the Terra ecosystem's algorithmic stablecoin briefly lost its peg to the US dollar.

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ForkLog 19 05.05.2022

Luna Foundation Guard adds 37,863 BTC worth $1.5 billion

The non-profit Luna Foundation Guard (LFG) has added 37,863 BTC for a total of about $1.5 billion. The deal was conducted on the over-the-counter market, with Genesis Global Trading and Three Arrows Capital acting as intermediaries.

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ForkLog 6 05.05.2022

Tether CTO says the company has no plans to go public

The issuer of the stablecoin Tether is not considering an IPO. In an interview with CryptoPotato, CTO Paolo Ardoino said.

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ForkLog 19 05.05.2022

Algorithmic stablecoin USDD launches on the TRON network

On May 5, the TRON network released and put into circulation the algorithmic stablecoin USDD. The asset is also available on Ethereum and BNB Chain via the cross-chain protocol BTTC.

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ForkLog 13 26.04.2022

Near Protocol launches algorithmic stablecoin USN

The Near Protocol developers have launched an algorithmic stablecoin, USN, pegged to the US dollar and backed by the native NEAR token. It will be governed by the Decentral Bank DAO.

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ForkLog 33 22.04.2022

TRON to launch algorithmic stablecoin USDD

On May 5, Tron developers will launch the algorithmic stablecoin USDD backed by a native TRX token and the equivalent of $10 billion in highly liquid assets, according to Justin Sun, head of the Tron Foundation.

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ForkLog 19 19.04.2022

Paolo Ardoino: High-cap algorithmic stablecoins pose risks to the market

UST's stablecoin is dangerous for the crypto market due to its approach to collateralisation. This view was expressed in an interview with CoinDesk by Tether's chief technology officer Paolo Ardoino.

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