Stablecoin

Another Stablecoin Fluctuates Wildly as HUSD Slips Below USD Peg to $0.82 per Token

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The stablecoin HUSD, originally associated with the crypto exchange Huobi Global, lost its peg with the U.S. dollar on Wednesday, August 17, and it dropped even lower in value the following day on Thursday, August 18. On Thursday, Huobi addressed the…

Fintech Firm Galoy Raises $4 Million, Startup Introduces Bitcoin-Backed Synthetic Dollar Product

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On Wednesday, Galoy, the firm behind El Salvador’s Bitcoin Beach Wallet, announced that the company raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats, a…

The Number of Euro-Pegged Stablecoins Has Swelled 1,683% Since 2020

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While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by…

Survey That Asks if The Merge Could Cause an Ethereum Chain Split Sparks PoS Delay Discussions

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While there’s 50 days left until the week of September 19, the crypto community has been discussing whether or not Ethereum developers will delay the penciled-in date for The Merge. Moreover, on July 27, the crypto hedge fund Galois Capital published…

Picpay to Offer Cryptocurrency Services in Brazil to More Than 60 Million Customers

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Picpay, one of the most popular payments fintech companies in Brazil, has announced that it will start including cryptocurrency services in its app. The company explained that these services will include the possibility of purchasing crypto and processing payments with crypto…

100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao’s Stablecoin Vault

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Makerdao, the decentralized autonomous organization (DAO) that issues the stablecoin DAI, approved a governance proposal that provides “collateral integration from a U.S.-based bank.” The Makerdao governance proposal passed by a majority vote of more than 87%, and it gives the U.S….

Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With No Losses’ to the Company

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On July 8, 2022, the company behind the largest stablecoin in the world, Tether, revealed that the firm liquidated a loan made to the crypto lender Celsius, and the liquidation caused “no losses to Tether.” According to the stablecoin issuer, the…

Circle Partners With New York Community Bancorp — Bank to Custody USDC Reserves

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Circle Internet Financial has revealed a usd coin custody partnership with the American bank holding company New York Community Bancorp (NYCB). Under the agreement, NYCB’s subsidiary, New York Community Bank, will become a custodian for the company’s stablecoin reserves. Circle Partners…

Stablecoin Market Nears 15% of the Entire Crypto Economy’s Market Valuation

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Roughly two months ago on April 11, the stablecoin economy was valued at $190 billion and was getting closer to surpassing $200 billion in value. However, after the Terra stablecoin fallout, the fiat-pegged token economy lost $16.31 billion in value since…

A New Terra Network Is Coming With Support From Major Exchanges, LUNA and UST Holders Eligible for Airdropped Tokens

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According to a recent announcement from the Terra blockchain team, the community voted and passed a proposal that plans to launch a new genesis version of the Terra blockchain without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan…