The Yala stablecoin (YU), a Bitcoin-native over-collateralized stablecoin backed by Polychain, misplaced its greenback peg round 5:14 UTC+8 as we speak following a protocol assault that despatched YU crashing to $0.2074 earlier than recovering to $0.917. The Yala staff promptly addressed the incident on X (previously Twitter), confirming the assault and its influence on the…
The mixed Exchange Reserve of the stablecoins has lately set a brand new all-time high (ATH), pushed primarily by development on Binance. Stablecoin Exchange Reserve Has Witnessed A Rise Recently In a brand new post on X, on-chain analytics agency CryptoQuant has talked in regards to the newest development within the mixed Exchange Reserve of…
The Tremendous Consultant group of Tron has voted to slash community transaction charges by 60%, lowering vitality unit costs from 210 solar to 100 solar within the largest price lower because the blockchain’s founding. The proposal took impact on August 29, as Tron defends its place because the dominant USDT rail, internet hosting a stablecoin…
South Korea’s largest banks are reportedly in talks with Tether and Circle to debate potential stablecoin partnerships and distribution within the nation. 4 Main South Korean Monetary Teams Wanting Into Stablecoins As reported by YonHap, main South Korean monetary teams will see their high executives assembly with Tether and Circle this week. Tether and Circle…
Key Takeaways: Tether appointed Bo Hines, ex-White Home Crypto Council director, as strategic advisor for U.S. digital property technique. The transfer displays a broader pattern of crypto companies hiring former policymakers to information U.S. market engagement. Stablecoin laws into consideration in Congress might form the longer term working atmosphere for corporations like Tether. Tether has…
Visa’s head of crypto, Cuy Sheffield, predicts the future will combine traditional and crypto payments as the stablecoin market reaches $269 billion, growing 62% over the past year with potential to expand to $2 trillion within three years. The payments giant has surpassed $200 million in cumulative stablecoin settlement volume while positioning itself as a…
Standard Chartered has partnered up with Animoca Brands and HKT to apply for a license under Hong Kong’s new stablecoin regime. Standard Chartered’s JV First To Apply For Hong Kong Stablecoin License According to a press release from Animoca Brands, the company has come together with Standard Chartered’s Hong Kong branch and Hong Kong Telecom…
The share of workers paid in cryptocurrency has more than tripled over the past year, with USDC emerging as the most popular digital asset for payroll, according to Pantera Capital’s 2024 Blockchain Compensation Survey. In 2023, only 3% of respondents reported receiving any part of their salary in crypto. That figure jumped to 9.6% in…
Tether CEO Paolo Ardoino has revealed a staggering 40% of all fees that users are paying on the major blockchains are spent to move USDT. USDT Transfers Make Up For A Notable Portion Of Network Fees In a post on X, Paolo Ardoino has shared the latest data related to USDT’s transfer fees share on…
South Korea is taking a major step toward stablecoin oversight and digital currency development. According to a July 29 report from Yonhap News, the Bank of Korea has announced the installation of a new virtual asset division within its Financial Settlement Bureau. The newly formed division will monitor the broader crypto market and lead internal…