Binance founder Changpeng 'CZ' Zhao gave an interview to Protocol where he expressed Binance's relationship with the two largest stablecoins: Tether and Circle's USDC.
The European Union is bracing for another wave of measures in the digital asset sector as Parliament mulls tougher laws for DeFi platforms and Web3 firms to boost its anti-money laundering campaign.
The bill has undergone several amendments, and the latest would protect Americans from a Terra-like collapse by banning "endogenously collateralized" tokens.
The order from U.S. District Judge Katherine Polk Failla is part of a case that's been ongoing since 2019, where a group of traders sued Tether and accused it of causing over a trillion dollars' worth of damages.
South Korean authorities issued an Interpol red notice against Kwon last week concerning the failed DeFi project, claiming he had fled to Singapore.
To counter sanctions, Russia is looking to set up a stablecoin platform with help from allies to settle cross-border payments, utilizing tokens that hold value similar to gold.
The platform will deploy blockchain and smart contracts in asset custody, currency exchange, and alternative investment financial services and would work similar to liquidity pools on DeFi protocols.
The risks of investing in the digital currency industry remain high as Fed continues to tighten its policies to counter inflation, while fear spreads among potential investors caused by manipulative platforms.
Huobi explains that the depeg was caused by a decision to close market maker accounts in several regions to comply with regulations.
The company also announced it would expand the number of digital assets it supports for balances. It will now include BTC, ETH, LTC, XLM, AXS, and USDT.
The Bank of Russia says that stablecoins are risky because the underlying pool of assets doesn’t belong to the user, and there’s no guarantee of redemption.