[ad_1] Demand for blockchain-based T-bill offerings has been steadily rising as the yield on U.S. government debt, widely considered as risk-free, surpassed yields in decentralized finance (DeFi). Digital asset firms, crypto investment funds and protocol treasuries often hold substantial amount of cash in stablecoins. Tokenized Treasuries offer them a shield from inflation and a way […]
Continue Reading[ad_1] Although Allaire views stablecoins as a superior option to CBDCs, he said the two are complimentary. “If central banks are going to upgrade their own systems to move away from legacy technology into more modern distributed ledger technology, that’s great,” he told SCMP. “There’s a whole bunch of things that are useful from that, […]
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[ad_1] U.S. lawmakers aren’t yet able to reach across the chasm between Republicans and Democrats’ very different ideas for how to oversee stablecoins, despite notes of hope from both sides evident in a Thursday hearing of the House Financial Services Committee’s digital assets panel. [ad_2]
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[ad_1] Another section calls for a study on “the potential impact” of a central bank digital currency (CBDC), or digital dollar, on the Fed’s monetary policy tools, U.S. financial sector, banking sector and financial stability, as well as to payment services. The Treasury Department, alongside the various regulators, would have to report to the Financial […]
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[ad_1] Other, smaller-circulation stablecoins lost their pegs, too, including BUSD, issued by Paxos, and crypto-backed stablecoin DAI, issued by MakerDAO. Only USDT seemed to benefit from the turmoil, briefly exceeding $1, most likely because of investors shifting out of the depegged stablecoins. [ad_2]
Continue Reading[ad_1] Crypto firms are likely familiar with the mechanics of stablecoins already, a class of crypto-asset meant to track the value of fiat. In fact, on centralized exchanges, the volume of stablecoin transactions rose to 90% from 79% last year, replacing in particular USD-based trading pairs, CFA Conor Ryder noted. [ad_2]
Continue Reading[ad_1] According to the Journal’s report, Tether Holdings co-owner Stephen Moore pushed back against the use of fake sales invoices, saying “I would not want to argue any of the above in a potential fraud/money laundering case” in an email seen by the Journal, referring to an intermediary which traded USDT in China. [ad_2]
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[ad_1] “Rising market prices enticed traders to take on more leverage, in the form of borrowing stablecoins, which was then used to buy more crypto,” analysts Sheena Shah and Kinji Steimetz wrote. “Falling market prices were catalyzed by a reduction in crypto liquidity caused by traders closing long crypto positions, followed by redemptions of the […]
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