Search
Binance BUSD Drops $1 Billion in Market Cap, Falls to Fourth Among Stablecoins – What's Going On?
18.6.2023
Binance-branded BUSD stablecoin has lost another $1 billion in market cap, descending to the fourth position among stablecoins.
The Binance USD (BUSD) stablecoin currently has a market cap of around $4.3 billion, down from $5.5 billion a month ago, data by CoinMarketCap shows.
This places BUSD...
BUSD falls to fourth position among stablecoins
17.6.2023
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins
DAI Emerges as Third-Largest Stablecoin, Overtaking BUSD in Market Capitalization
17.6.2023
Makerdao’s DAI stablecoin is now the third-largest stablecoin by market capitalization, surpassing Binance USD (BUSD), which has officially declined to $4.304 billion. DAI’s market valuation on Friday, June 16, 2023, is approximately $4.394 billion, but the number of circulating...
Curve pool imbalance triggers USDT depeg concerns: Finance Redefined
16.6.2023
The top 100 DeFi tokens had another bearish week, with the majority of tokens trading in the red
Coinbase Introduces 4% USDC Rewards Amidst SEC Dispute
16.6.2023
On June 15, the San Francisco-based cryptocurrency exchange Coinbase announced that customers can now earn 4% rewards on the stablecoin USDC. The news follows Coinbase’s current dispute with the U.S. Securities and Exchange Commission (SEC) over the firm’s staking-as-a-service product....
Sturdy stablecoin market reopens three days after $800K exploit
16.6.2023
The DeFi protocol also offered the $100,000 bounty to anyone who could help bring an arrest or recover the funds
Stablecoin Market Records $2.4B in Redemptions in 30 Days as Leading Tokens Experience Supply Decline
15.6.2023
According to statistics, over the span of 30 days, from May 15 to June 15, 2022, more than 2.4 billion stablecoins were redeemed. During this period, three of the leading stablecoins experienced a decline in their supplies ranging from 4% to 19% compared to the previous month. Stablecoin Economy...
Curve pool imbalance triggers USDT depeg concerns, Tether CTO calls it FUD
15.6.2023
The stablecoin pool ideally has a weightage of 33.3% of each USDT, USDC and DAI, however, on June 15, the USDT weightage rose above 70% in the pool
Custodian Prime Trust’s Payments Subsidiary Banq Files for Chapter 11 Bankruptcy Protection
15.6.2023
Shortly after the custodian Bitgo announced its acquisition of the company Prime Trust, its payments subsidiary, a firm called Banq, filed for Chapter 11 bankruptcy protection in the United States. According to court documents, the filing reveals that Banq listed approximately $17.725 million...
MakerDAO Weighs Ditching $390M of Gemini Dollars from DAI Reserve
14.6.2023
The result could have a significant impact on Gemini and its stablecoin as MakerDAO’s reserve holds roughly 88% of total GUSD supply
Circle CEO Allaire Puts Pressure on House Lawmakers To Pass a Stablecoin Bill
13.6.2023
The CEO of stablecoin issuer Circle put the pressure on lawmakers to pass a stablecoin bill and get it signed by President Joe Biden as other countries forge ahead.
Delivering a stablecoin bill to “President Biden’s desk should be a national priority,” said CEO Jeremy Allaire in his prepared...
Hong Kong and the US aim for stablecoin regulations by 2024
13.6.2023
The U.S. is another country currently working on stablecoin market regulations having introduced three drafts of the bill until June first week
Jeremy Allaire pushes for stablecoin legislation
13.6.2023
Jeremy Allaire, who is the Co-Founder of stablecoin supplier Circle, will be earnestly pitching for the legislation of the stablecoin at a U.S House Financial Services Committee Hearing. Simultaneously, he is concerned about the actual positioning of the U.S Dollar and its competitiveness...
Turkey's Economic Woes Push Investors Towards Stablecoin Tether – Here's the Latest
12.6.2023
As Turkey’s economic woes continue to deteriorate with lira spiraling downwards, investors are turning to cryptocurrency as a safe haven.
Local demand for Tether, the largest dollar-backed stablecoin, surged in early May ahead of the election and has remained high since, according to a recent...
Tether CTO clarifies $1B USDT mint on Ethereum is for chain swaps
12.6.2023
This was Tether’s second $1 billion mint in two months, bringing the total USDT minted by the stablecoin issuer in 2023 to over $16 billion
Latam Insights — Volcano Energy Bitcoin Mining Project Rises in El Salvador, Venezuelan Miners Leaving Amidst Crypto Corruption Probe
12.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Volcano Energy rises in El Salvador, Venezuelan bitcoin miners flee amidst nationwide mining ban, and Argentina deepens usage of the Chinese yuan to...
Curve Finance Founder Deposits $24M CRV into Aave to Safeguard $65M Stablecoin Loan
12.6.2023
Curve Finance founder Michael Egorov has deposited $24 million worth of Curve DAO (CRV) tokens to decentralized lending platform Aave to mitigate against liquidation risk on a $65 million stablecoin loan
Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals
12.6.2023
People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote....
TrueUSD Loses Dollar Peg Following Minting Suspension with Prime Trust
11.6.2023
TrueUSD, a major fiat-collateralized stablecoin, has lost its peg following the announcement that it has suspended minting activities through its technology partner Prime Trust.
In early Saturday hours, TUSD started distancing away from its intended $1 peg, dropping to as low as $0.993090 before...
Bitcoin Dominance Soars to 47.5%: Highest Level in a Year as Other Crypto Assets Suffer
11.6.2023
On June 10, 2023, bitcoin is dominating with a market capitalization dominance of 47.5%, marking its highest level since this time last year, according to coinmarketcap.com. Meanwhile, ethereum’s dominance is holding steady at 20%, indicating that the recent dominance gains made by these...