Stablecoins

Binance.US has altered its terms of use. The exchange now prohibits the direct withdrawal of U.S. dollars from its platform. According to an update posted by the exchange on Monday, users wishing to pull out their U.S. dollar funds must first convert these into stablecoins or other digital assets...

On Friday, California Governor Gavin Newsom, one of the Democratic Party’s most prominent promoters and defenders of blockchain and crypto technologies, signed a Crypto licensing bill to build a regulatory framework for cryptocurrencies. He had earlier refused to accept New York’s...

Stablecoin issuer Tether (CRYPTO: USDT) announced on Friday the appointment of Paolo Ardoino as its CEO, effective from December 2023. He will succeed Jean-Louis van der Velde, who will remain involved in an advisory capacity while maintaining his CEO position at crypto exchange Bitfinex...

Fireblocks CEO Michael Shaulov calls Bitcoin (CRYPTO: BTC) recently shared insights with Benzinga on the role of traditional banks, the rise of stablecoins and Bitcoin's potential as an "insurance instrument" against potential government system collapses. What Happened: Anyone...

While stablecoins catching the pulse of the rapidly growing crypto market globally, Hong Kong announced retail stablecoin trading is still not allowed in the country. What Happened: Hong Kong’s Secretary for Financial Services and the Treasury Christian Hui said the...

To protect stablecoins from regulatory frameworks as applied to traditional securities, Circle (CRYPTO: USDC) stepped into the legal case of Binance (CRYPTO: BUSD) and the SEC. What Happened: Circle entered an ongoing legal dispute between the SEC and cryptocurrency exchange ...

Crypto custody company Fireblocks on Friday announced its acquisition of BlockFold, a smart contract development and consulting firm, in a deal valued at $10 million that seeks to amplify the former's' capabilities in the realm of tokenization. As the digital transformation of financial...

Blockchain oversight platforms have identified a $1 billion approval in Tether's (CRYPTO: USDT) Treasury, aimed at enhancing short-term USDT liquidity on the Tron network. WhaleAlert, a blockchain monitoring service, spotlighted this massive authorization on microblogging platform X. This...

Coinbase Inc. (NASDAQ: COIN) CEO Brian Armstrong projected the rise of "flatcoins" as the next evolution in the world of stablecoins. With the crypto industry constantly evolving, Armstrong believes flatcoins, tied to purchasing power or the Consumer Price Index (CPI), could be an...

Federal Reserve official Michael Barr on Friday expressed deep concerns about the issuance of stablecoins without stringent federal oversight. Speaking at a fintech conference, Barr highlighted the potential threats stablecoins could bring to financial stability, U.S. payments, and monetary policy...

The rapid evolution of the crypto-asset landscape has brought forth a plethora of opportunities and inevitable risks. Some nations, including China, Qatar and Saudi Arabia, have implemented outright bans on digital assets. However, a joint policy paper by the International Monetary Fund (IMF)...

Paolo Ardoino, the Chief Technical Officer of Tether (CRYPTO: USDT), on Tuesday, said that the company now holds an exposure of $72.5 billion in U.S. Treasury bills. This significant holding positions Tether as one of the top 22 global buyers, surpassing countries such as the United Arab Emirates,...

In a significant move towards modernizing cross-border financial transactions, payments giant Visa Inc (NYSE: V) announced on Tuesday its plans to extend its stablecoin settlement capabilities to the Solana (CRYPTO: SOL) blockchain. This development came in collaboration with...

Pseudonymous analyst The Flow Horse, also recognized as Cantering Clark, recently shared his diminishing confidence in the cryptocurrency market's potential for a rebound. His skepticism primarily stems from the perceived lack of tangible, real-world applications for most cryptocurrencies...

Republican representatives from the House Financial Services Committee have expressed concerns over the Federal Reserve's recent interventions in the cryptocurrency sector. In a letter addressed to Fed Chair Jerome Powell, Committee Chair Patrick McHenry (R-NC) stated that the Fed...