Category: Stablecoin
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SEC charges TrustToken and TrueCoin over stablecoin fraud
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The US Securities and Exchange Commission has charged two crypto companies linked to the TUSD stablecoin with securities violations. TrueCoin and TrustToken stable The U.S. Securities and Exchange Commission has filed a lawsuit against TrustToken, accusing it of making unregistered offers and selling investment contracts between November 2020 and April…
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BitGo to enter stablecoin territory with USDS token
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Cryptocurrency custodian BitGo plans to launch a dollar-backed stablecoin next year, offering rewards to liquidity providers. BitGo is set to launch a dollar-backed stablecoin called USDS in January 2025, making it the first “open-shared stablecoin” on the market. On September 18, BitGo announced the launch of a dollar-backed stablecoin called…
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BitGo to enter stablecoin territory with USDS token
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Cryptocurrency custodian BitGo plans to launch a dollar-backed stablecoin next year, offering rewards to liquidity providers. BitGo is set to launch a dollar-backed stablecoin called USDS in January 2025, making it the first “open-shared stablecoin” on the market. On September 18, BitGo announced the launch of a dollar-backed stablecoin called…
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Bitcoin’s Future in Payments: Overcoming Stablecoin Dominance with Fiatless Fiat
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Stablecoins have so far dominated the crypto payments market, but some Bitcoin developers believe there is a proposal that could offer a legitimate alternative. Seven years ago, Dorier, a veteran developer, set out to democratize Bitcoin payment processing by launching a free, open-source alternative to the then-dominant BitPay software: BTCPay…
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Bitcoin’s Future in Payments: Overcoming Stablecoin Dominance with Fiatless Fiat
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Stablecoins have so far dominated the crypto payments market, but some Bitcoin developers believe there is a proposal that could offer a legitimate alternative. Seven years ago, Dorier, a veteran developer, set out to democratize Bitcoin payment processing by launching a free, open-source alternative to the then-dominant BitPay software: BTCPay…
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What is the U.S. dollar’s role in stablecoin ecosystems?
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Stablecoins have seen explosive growth in the last four years, increasing from a $17.6 billion market capitalization to $170.6 billion. The number of holders has also skyrocketed from 3.78 million to 119.72 million. However, this growth brings critical questions. How safe is it to hold stablecoins? How secure are the…
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What is the U.S. dollar’s role in stablecoin ecosystems?
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Stablecoins have seen explosive growth in the last four years, increasing from a $17.6 billion market capitalization to $170.6 billion. The number of holders has also skyrocketed from 3.78 million to 119.72 million. However, this growth brings critical questions. How safe is it to hold stablecoins? How secure are the…
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SEC criticized for dubious stablecoin stance in FTX bankruptcy
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The SEC is facing criticism for its recent bankruptcy filing for FTX, echoing its controversial approach in the Voyager case. Recently Submit filesThe US Securities and Exchange Commission has warned FTX that it may oppose plans to repay creditors using stablecoins or other digital assets, citing potential legal concerns. This…
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Bitget Adds Support for PayPal (PYUSD) Stablecoin on Solana Blockchain
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Article Content VICTORIA, Seychelles, August 22, 2024 (GLOBE NEWSWIRE) — PetgettLeading cryptocurrency exchange and Web3 company adds trading support for PayPalBYUD A stablecoin on the Solana blockchain, increasing the availability of cross-chain tokens. This allows for seamless transactions of PYUSD on both the Solana and Ethereum networks, making it easier…
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Whale loses over $55m in DAI stablecoin to phishing attack
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The whale address lost a large amount of DAI tokens due to a phishing attack after unintentionally signing a fraudulent transaction. On-chain data confirms that the losses amounted to $55.47 million in Dai (DAI). According to a post by Lookonchain X, the whale’s funds were stored in Maker, a decentralized…
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Whale loses over $55m in DAI stablecoin to phishing attack
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The whale address lost a large amount of DAI tokens due to a phishing attack after unintentionally signing a fraudulent transaction. On-chain data confirms that the losses amounted to $55.47 million in Dai (DAI). According to a post by Lookonchain X, the whale’s funds were stored in Maker, a decentralized…
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Ripple begins testing RLUSD stablecoin on Ethereum and XRP
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XRP issuer Ripple is moving forward with its stablecoin plans after CEO Brad Garlinghouse raised the idea during a 2024 consensus. Ripple (XRP) has begun work on a fiat-pegged token called Ripple USD, or RLUSD, as the company eyes the $160 billion stablecoin market currently dominated by Tether (USDT). The…
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Identity Is A Must For Stablecoin Issuers
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In an important step, Swiss Financial Market Supervisory Authority (FINMA)Switzerland’s financial regulator has issued new guidelines aimed at addressing the risks associated with fiat-linked stablecoins. The guidelines, released on July 26, 2024, emphasize the importance of verifying the identity of all token holders, effectively banning decentralized stablecoins in Switzerland. The…
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Swiss financial watchdog FINMA rolls out guidance for stablecoin issuers
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Swiss regulator FINMA has published guidance for issuers of stablecoins, urging them to verify the identity of all persons holding digital tokens linked to fiat currencies. The Swiss Financial Market Supervisory Authority (FinMarket Supervisory Authority) has published new guidance on the risks and challenges associated with stablecoins for issuers and…
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State Street Is Exploring a Stablecoin and Tokenized Deposits Launch: Report
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State Street Corp., a major Boston-based firm in traditional finance, is exploring launching its own stablecoin and tokenized deposits to improve payment settlement using blockchain technology. According to Bloomberg a report On Wednesday, the bank made active efforts to integrate into the cryptocurrency space. State Street Seeks Digital Expansion In…
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Hong Kong’s Top Virtual Bank to Offer Reserve Services to Crypto Stablecoin Issuers
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Hong Kong’s largest virtual bank, ZA Bank, achieved a new milestone earlier today by an offer Hong Kong has announced plans to offer exclusive Reserve Bank services to stablecoin issuers, a move in line with Hong Kong’s recent regulatory progress regarding cryptocurrencies. The initiative is part of the region’s new…
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Tron’s Justin Sun reveals gas-free stablecoin transfer solution development
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Tron (TRX) founder Justin Sun has revealed his plans for an innovative solution to simplify stablecoin transfers by eliminating gas fees. Facilitating stablecoin transfers According to Sun, this upcoming feature will enable users to conduct stablecoin transactions without the burden of additional gas tokens, with fees instead covered by the…
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Justin Sun To Launch Gas-Free Stablecoin Transfer On Tron, Other Networks
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In an exciting development, Tron Network founder Justin Sun has announced plans to introduce gas-free stablecoin transfers. This has sparked a lot of reactions with many applauding Tron’s latest proposed feature, while other users have criticized the late implementation of this upgrade. Gas-Free Stablecoin Transfers to Begin by Q4 2024…
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Justin Sun To Launch Gas-Free Stablecoin Transfer On Tron, Other Networks
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In an exciting development, Tron Network founder Justin Sun has announced plans to introduce gas-free stablecoin transfers. This has sparked a lot of reactions with many applauding Tron’s latest proposed feature, while other users have criticized the late implementation of this upgrade. Gas-Free Stablecoin Transfers to Begin by Q4 2024…