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Exchange Stablecoin Wars Hot Up - Coinbase to Suspend BUSD Trading on March
28.2.2023
Coinbase has announced the suspension of Binance USD (BUSD) trading, saying that the stablecoin does not meet its listing standards.
In a Monday announcement, the largest cryptocurrency exchange in the US said it will suspend trading for BUSD stablecoin starting March 13. The suspension affects...
Coinbase to Suspend Trading of BUSD Amid Regulatory Crackdown
28.2.2023
Cryptocurrency exchange Coinbase announced it will suspend trading and delist the Paxos-managed stablecoin asset BUSD. The decision follows Paxos’ revelation that the New York State Department of Financial Services directed the firm to stop issuing the U.S. dollar-pegged token BUSD. Coinbase...
Bitcoin bulls remain in charge even in the face of increasing regulatory FUD
27.2.2023
BTC’s correction to $22,750 followed negative remarks from financial regulators, but key Bitcoin price metrics show bulls remain optimistic
TrueUSD Becomes 5th-Largest Stablecoin as Binance Mints $130M TUSD in a Week
27.2.2023
Blockchain data shows exchange giant Binance has been relying increasingly on TUSD after regulators clamped down on its Binance USD stablecoin
Coinbase announces suspension of BUSD trading beginning March 13
27.2.2023
The San Francisco-based cryptocurrency exchange referred to its "listing standards" in a tweet
Binance Moved $1.8B in Stablecoin Collateral to Hedge Funds Last Year: Forbes
27.2.2023
This meant that over $1 billion worth of tokens called B-peg USDC – digital replicas of dollar-pegged stablecoin USDC – were uncollateralized despite Binance's claim that they were 100% backed
DeFi Giant MakerDAO Rejects $100M Loan to Cogent Bank
27.2.2023
The rejection follows less than a year after Maker approved a similarly structured loan to Huntingdon Valley Bank
Coinbase to Suspend Binance USD Stablecoin, Saying It Doesn’t Meet Listing Standards
27.2.2023
Coinbase will suspend trading of Binance USD (BUSD) starting March 13 because the stablecoin doesn’t meet its listing standards, the U.S. cryptocurrency exchange said in a tweet Monday
Reports Indicate USDT Is Being Used in Venezuela to Facilitate Settlements and to Avoid Sanctions
27.2.2023
Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its purchase for devaluation shielding purposes,...
Authorities in France Arrest Duo Involved in Platypus Exploit
27.2.2023
Flash loan exploit drained protocol of over $9 million in assets and knocked Platypus USD (USP) off its peg
BitFlyer founder seeks to reinstate self as CEO, leading firm to IPO: Report
27.2.2023
Despite stepping down as CEO for three years, Yuzo continued to have a significant influence on the company being the firm’s largest stakeholder
BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance
25.2.2023
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with...
Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships
25.2.2023
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves...
FDIC-insured Citizens Trust Bank to hold $65M in USDC reserves
24.2.2023
The Atlanta, Georgia-based bank joined the Federal Reserve System in 1947 and is classified as a Minority-owned Depository Institution
The SEC's Stablecoin Hammer, Courtesy Terraform Labs and Do Kwon
24.2.2023
The U.S. Securities and Exchange Commission sued Terraform Labs and Do Kwon last week, alleging the terraUSD stablecoin was a security, alongside various other tokens and products. This feels pretty important
DeFi Protocol Platypus to Repay at Least 63% of User Funds After $9M Hack
23.2.2023
The Avalanche-based protocol worked with crypto exchange Binance to identify the exploiter responsible for the exploit last week
USDC issuer Circle to increase staff by up to 25% amid layoff season
23.2.2023
The plan to expand its workforce comes just months after it mutually called off its plans to go public via a SPAC merger
TUSD Leverages Chainlink Proof of Reserve for Real-Time Verification of Stablecoin Minting
23.2.2023
On Wednesday, the stablecoin project Trueusd announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens. The trueusd crypto asset has a circulating supply of over 968 million tokens and is the sixth-largest...
Frax Finance to retire algorithmic backing amid stablecoin crackdown
23.2.2023
The vote was passed to fully collateralize Frax Finance's native stablecoin, thus phasing out its algorithmic backing
Frax Finance Votes to Fully Collateralize Its $1 Billion Stablecoin
23.2.2023
The vote is a step for Frax’s native stablecoin frxUSD to retire its algorithmic element