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Societe Generale’s crypto arm to launch Euro-pegged stablecoin
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t have enough, buy ACS on…
Tether USDT supply reaches $80B for 1st time in almost a year
What is CryptoSlate Alpha? CryptoSlate Alpha is a membership designed to empower you with cutting-edge insights and knowledge, built on top of Access Protocol. More about CryptoSlate Alpha › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. You Need More ACS It looks…
BitMEX co-founder Arthur Hayes proposes Bitcoin-backed stablecoin ‘NakaDollar’
Ad BitMEX co-founder Arthur Hayes has proposed a Bitcoin-backed dollar-pegged stablecoin NakaDollar (NUSD) which would be backed by $1 Bitcoin and one inverse perpetual swap of BTC against USD. In a March 8 blog post, Hayes said the stablecoin would not rely on USD reserves or centralized entities like banks. Instead, the NUSD will be…
BIS chief says past events ‘cast doubt’ on stablecoins’ ability to function as money
Ad The general manager of the Bank for International Settlement, Agustin Carstens, said events in the past year “have cast serious doubts on the ability of stablecoins to function as money.” In a Feb. 22 speech, the bank chief argued that what sustains fiat currency is not novel technologies but “the institutional arrangements and social…
Traders turn to USDT as BUSD dominates heavily imbalanced Curve liquidity pool
Ad Curve pool’s Binance USD (BUSD) V2 pool is heavily imbalanced, with crypto traders showing preferences for Tether’s USDT. The BUSD V2 dashboard shows that the embattled stablecoin accounted for roughly 81% of the pool’s $12.85 million reserve, while USDT made up 4%. The other stablecoins in the pool — USD Coin (USDC) and DAI…
Tether reports $700M profit for Q4’22
Latest Report Is the crypto bottom in? On-chain says yes, macro says pain occurs after the fed pause Is Bitcoin poised for a new low or has the bottom been set at $15,500? CryptoSlate analyzed on-chain and macro data to present both sides of the argument. Andjela Radmilac · 5 days ago
Coinbase asks users to convert their USDT to USDC for free
Coinbase is incentivizing its users to convert their Tether (USDT) holdings for USD Coin (USDC), according to a Dec. 8 blog post. Switch to a trusted stablecoin: USD Coin (USDC). Now convert Tether (USDT) to USDC with zero fees.https://t.co/OObSqNWdpj — Coinbase (@coinbase) December 8, 2022 According to the US-based exchange, recent events have shown that…
Tether launches CNH₮, a stablecoin pegged to Chinese Yuan
Tether, a leading provider of blockchain-based financial services, has launched an offshore Chinese Yuan-backed stablecoin. The new stablecoin, CNH₮, combines two of the world’s largest economies and makes it easier for users to transact with the Chinese Yuan (CNH) in a secure, digital form. With the launch of CNH₮, Tether continues to expand its suite…
Stablecoin usage remain high despite crypto winter
Reflexity Research cofounder Will Clemente tweeted on Dec. 5 that stablecoins were one of the few crypto use cases that have found product market fit despite the current market condition. Stablecoin aggregate volume reaches ATH Citing Glassnode data, Clemente said stablecoin’s growth was evident in several areas. This included the aggregate volume reaching an all-time…