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Citi Bank Report: Most Global Security Firms Back CBDCs For Faster Payments
23.8.2023
A new research conducted by banking giant, Citi, shows that most financial institutions are leaning toward adopting Central Bank Digital Currencies (CBDCs) for faster global payments.
In its latest edition of the Securities Services Evolution, the bank surveyed 12 financial market infrastructures...
Nigerian Crypto Trading Platform Unilaterally Converts User Funds to New Stablecoin — Move Sparks Exit Scam Fears
23.8.2023
A Nigerian crypto trading platform, Patricia, announced on Aug. 18 that it had converted users’ outstanding funds to its U.S.-backed stablecoin known as “Patricia Token.” Some social media users have slammed the crypto trading platform’s unilateral decision to convert...
Coinbase Crypto Exchange Buys Stake in USDC Stablecoin-Issuer Circle – Here's What You Need to Know
22.8.2023
According to Circle's blog post released on August 21, Cryptocurrency exchange Coinbase has bought a minority stake in Circle Internet Financial while dissolving their Centre Consortium partnership that had issued USD Coin (USDC), the world's second-largest stablecoin....
Read More: Coinbase Crypto...
Coinbase Acquires Equity Stake in Circle; Companies Reshape USDC’s Future
22.8.2023
In a joint statement, Jeremy Allaire, CEO of Circle, and Brian Armstrong, CEO of Coinbase, announced the dissolution of the Centre Consortium. Consequently, Circle will take exclusive charge of the issuance and governance of USDC. Additionally, Coinbase has acquired an equity stake in Circle while...
Stablecoin Buying Rises in Argentina as Peso Tumbles
22.8.2023
Industry insiders claim Argentina is experiencing a rise in stablecoin buying as black market dollar market prices spiral upward.
Per Globo, the nation is in the grips of the “worst political crisis in 21 years,” with hyperinflation eating up the value of the fiat peso.
Last week, Bloomberg...
Coinbase Gets a Stake in Stablecoin Operator Circle and USDC Adds 6 New Blockchains
21.8.2023
The Centre Consortium, jointly managed by Circle and Coinbase, is being shut down and Circle is bringing issuance and governance of the USDC stablecoin in-house
PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
21.8.2023
Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin
Curve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance Redefined
19.8.2023
The DeFi ecosystem had another exploit of over $2 million on a stablecoin liquidity pool this past week, just weeks after the Curve Finance exploit
Top 10 Stablecoins Witness Massive Supply Reductions, Yet Dominate 61% of Global Trade Volume
18.8.2023
For the first time in months, the entire list of top ten stablecoin assets has experienced supply shrinkage in the last 30 days. The stablecoin market now stands at $124 billion, following notable reductions across several projects. Yet, stablecoins still dominate in terms of global trade volume...
Coinbase Halts USDT Trading for Canadian Users Starting August 31
18.8.2023
In an email dated August 17, Coinbase, a cryptocurrency exchange, revealed its decision to halt trading of Tether USDT, Dai DAI, and RAI stablecoins for Canadian users starting August 31.
This surprising development comes shortly after Coinbase's recent announcement of its complete expansion into...
Bitcoin Dips Below $26K in Crypto Market Whirlwind; $1 Billion Liquidated Amid Top Coins’ Tumble
18.8.2023
Bitcoin’s value briefly slipped below the $26K threshold at 5:50 p.m. Eastern Time on Thursday before swiftly rebounding past the $26,000 benchmark. Concurrently, the expansive crypto landscape experienced an 8% tumble against the U.S. dollar, teetering dangerously close to dropping below...
Tether discontinues Bitcoin stablecoin, citing lack of usage
17.8.2023
The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year
Bybit Announces ‘Imminent’ Listing of Paypal’s PYUSD Stablecoin
17.8.2023
According to the crypto exchange Bybit, the trading platform plans to list Paypal’s stablecoin soon. Amid Bybit’s announcement, Paypal’s PYUSD token has seen little movement as most of the supply is held by the contract and the Paxos Treasury. Dubai-Based Bybit Prepares to List...
Tether CTO Paolo Ardoino says Bitcoin mining needs better analytical tools
17.8.2023
Stablecoin operator Tether is building specialized Bitcoin mining software aimed at using data analytics to optimize mining operations and boost production, CTO Paolo Ardoino says
PayPal’s stablecoin opens door for crypto adoption in traditional finance
17.8.2023
PayPal’s stablecoin sparked conversations over traditional finance’s growing interaction with the crypto space, stablecoin regulations and more
Ledger Taps Paypal for US Crypto Buys
17.8.2023
Crypto security firm and hardware wallet manufacturer, Ledger, announced its integration of Paypal payments for U.S. customers. This will allow Ledger Live users to buy bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC) within the app using Paypal. Ledger Enables Paypal Payments...
How PayPal Upended the Crypto Debate in Washington D.C.
16.8.2023
The fintech giant’s PYUSD stablecoin has forced a rethink among Democratic policymakers who previously resisted federal legislation, says John Rizzo
Paypal Pauses UK Crypto Purchases Amid Regulatory Changes; Assures Resumption in Early 2024
16.8.2023
In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free...
The FIT Act Is the Most Comprehensive Crypto Regulation Ever Voted on by Congress
16.8.2023
Singapore Announces Stablecoin Rules, MAS to Label Regulated Tokens
16.8.2023
The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore...