Stablecoins

The Federal Bureau of Investigation (FBI) has disclosed that it had seized cryptocurrencies valued at approximately $1.7 million between March and July of the current year. According to the official document, "The Federal Bureau of Investigation gives notice that property listed was seized for...

Corporates continue to embrace central bank digital currencies, or CBDCs, despite certain politicos calling the emerging tech "evil" and likening it to "the Death Star." What Happened: Mastercard (NYSE: MA) recently unveiled its CBDC Partner Program, which counts Ripple (CRYPTO...

Tether (CRYPTO: USDT) Thursday announced that it will discontinue its support for USDT on the Bitcoin (CRYPTO: BTC), Kusama (CRYPTO: KSM), and Bitcoin Cash (CRYPTO: BCH) blockchains. What Happened: The stablecoin issuer evaluated the current transport layers and determined their relevance in...

Singapore's law enforcement detained 10 individuals, predominantly holding Chinese passports, on allegations of money laundering, capturing assets valued around S$1 billion ($735 million), which encompassed cryptocurrencies. On Wednesday, local police disclosed that these arrests were linked to...

The Monetary Authority of Singapore (MAS) Tuesday announced its regulatory framework for stablecoins, aiming to ensure their value stability. This move comes after MAS took into account the feedback from a public consultation held in October 2022. The new framework will be applicable to single-...

Bill Wolf, the Chief Investment Officer at Archblock, believes that stablecoins are set to revolutionize the financial landscape, offering a more efficient alternative to traditional money transfer systems and reducing costs for global consumers. In an interview with Benzinga, he delved...

Zunami Protocol, a decentralized finance platform, issued a warning to its users against purchasing its Zunami Ether (CRYPTO: zETH) or Zunami USD (CRYPTO: UZD) stablecoins. This came in the wake of a security breach on its "zStables" pools hosted on Curve Finance. On Aug. ...

The old ways and new ways of managing one’s money are merging. As stablecoins and pegged digital currencies gain traction, it’s becoming a challenge to separate the two financial systems. With e-commerce sales projected to reach $6.3 trillion by 2023, and over 70% of people banking...

The market for stablecoins, digital currencies anchored to assets like the U.S. dollar, is projected to surge from its current value of $125 billion to a staggering $2.8 trillion within the next half-decade, according to a study. A Bernstein report suggests that as these digital currencies...

The U.S. Federal Reserve is ramping up its oversight of banks' activities in the digital asset space, signaling a broader effort by American regulators to limit the banking industry's interactions with cryptocurrencies. The central bank revealed the launch of a program dedicated to...

Galaxy Digital Holdings (OTC: BRPHF) CEO Mike Novogratz says the approval of Bitcoin (CRYPTO: BTC) ETFs by the Securities and Exchange Commission is imminent. Speaking during an earnings call on Tuesday, he drew insights from "contacts" within BlackRock (NYSE...

Fraudsters are exploiting the recent introduction of PayPal's (NASDAQ: PYPL) dollar-backed stablecoin. More than 66 imitation tokens had emerged on platforms including Ethereum (CRYPTO: ETH), BNB Chain (CRYPTO: BNB), and Base (CRYPTO: BASE), Coindesk reported citing DEXTools data. Ethereum, the...

PayPal (NASDAQ: PYPL) on Monday announced its new U.S. dollar-denominated stablecoin, PayPal USD (CRYPTO: PYUSD), emphasizing its full backing by U.S. dollar deposits, short-term U.S. treasuries and other cash equivalents. The company stated that PYUSD can be redeemed on a 1:1 basis...

In a significant move to bolster the adoption of digital tokens for transactions, PayPal Holdings Inc. (NASDAQ:PYPL) announced Monday the launch of a new U.S. dollar-denominated stablecoin. Named PayPal USD (PYUSD), this digital currency is the brainchild of the San Jose-based financial giant...

The stablecoin market has seen a drastic shift in market share year-to-date, with Tether (CRYPTO: USDT) taking the lion's share of the pie. What Happened: USDT's market share has increased by over 25% to $83.7 billion in the past year, while USD Coin (CRYPTO: USDC)'s market...