Even Binance thinks the Tether stablecoin is an unbacked scam
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.
Latest stablecoin News
EU puts DeFi on notice, revives stablecoin transaction cap
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.
New US bill seeks to ban UST-like algorithmic stablecoins for 2 years
The bill has undergone several amendments, and the latest would protect Americans from a Terra-like collapse by banning "endogenously collateralized" tokens.
US judge orders Tether to produce detailed documents on USDT’s backing
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 prosecutors chasing Do Kwon, while exchanges still trade his tokens
South Korean authorities issued an Interpol red notice against Kwon last week concerning the failed DeFi project, claiming he had fled to Singapore.
Russia’s Finance Ministry eyes collaboration with other countries on stablecoin settlement platform
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.
Brazil’s central bank endorses Itaú’s DeFi liquidity pool proposal
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.
Why did ‘crypto’ go risk-on from risk-off?
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.
HUSD stablecoin recovers—what caused it to depeg?
Huobi explains that the depeg was caused by a decision to close market maker accounts in several regions to comply with regulations.
Codugh creates ‘CUSD’ token for micropayments in more familiar dollar prices
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.
Russia’s central bank opposes ‘overly risky’ private stablecoins
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.
G20 financial watchdog to propose digital asset regulations in October
The Financial Stability Board has stayed away from the industry but says the recent Terra debacle has made it rethink its stand as it called for strict oversight over Bitcoin.