Tag: Stablecoins

Since the start of this year, the crypto economy has grown by 41.77% and currently has a market capitalization of $1.17 trillion. However, during this period of growth, the stablecoin economy suffered a significant loss of $7.3 billion in just 140 days.

During an interview, Jeremy Allaire, the CEO of Circle, which is responsible for issuing USDC stablecoins, disclosed that the company had modified its USDC-backed reserve portfolio to include short-term US Treasuries.

Cryptory.net - Crypto users are fleeing Circle's stablecoin USDC and switching to Tether's USDT, which is reaching the highest market share over the past 22 months.

Cryptory.net - Kaiko believes that the absence of Silvergate will make large investors come to stablecoins as an alternative, thereby boosting their role in crypto trading.

In response to crypto developments, 15 companies issuing 20 different stablecoins formed a new body to represent the market.

Cryptory.net - Paxos will no longer issue new BUSD tokens from Feb 21 after a lawsuit threat by the SEC.

Cryptory.net - Cardano’s algorithmic stablecoin “Djed” will officially launch in January next year with 40 projects on Cardano ecosystem ready to integrate this new stablecoin.

Cryptory.net - The stablecoin Tether (USDT) has become the focus of attention when falling under regulator spotlight again.

Cryptory.net - Decentral Bank, the issuer of Near-native stablecoin USN, said it could no longer maintain the project due to the decline in price of NEAR.