Stablecoin Financial News

20.05 / 15:15

Blockchain Stablecoin Tether DAI Backed Algorithmic, fiat-backed or crypto-backed: What’s the best stablecoin type?

TerraUSD (UST) flipping BinanceUSD (BUSD) for the third spot in the market capitalization list didn’t last long. The once-mighty stablecoin that powers the entire Terra ecosystem finds itself reduced to “Terra is more than UST” tweets. While no one knows for sure if LUNA can stage a comeback, UST will certainly go down as one of the algorithmic stablecoins that went kaput in the same fashion as Basis Cash — which Terra creator Do Kwon was allegedly a part of — and Mark Cuban-backed Iron Finance.

20.05 / 14:39

cryptocurrency Stablecoin Opinion Terra Luna Bitcoin Headlines Crashes like the Terra Luna collapse make headlines, but don't doom the crypto space just yet

The spectacular meltdown surrounding the Terra stablecoin and Luna governance token might be generating headlines, but it’s no indication that the broader crypto asset marketplace is headed for a collapse.

20.05 / 14:13

business Stablecoin Altcoin Terra Luna Terra Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash

The dramatic story of the Terra (LUNA) crash — referred to by some as the Lehman Brothers of crypto — has taken yet another remarkable turn as legal documents reveal the liquidation of two South Korean offices and the dissolution of the Terraform Labs Korea corporation in the days preceding the dual currency collapse.

20.05 / 13:53

Stablecoin MARKET Altcoins Terra Terra Adds an Amendment to Do Kwon’s Revival Plan, Survey Reveals UST Losses

The team behind the Terra (LUNA) blockchain has added three revisions to the already published “revival plan” by co-founder Do Kwon – increasing genesis liquidity and decreasing distribution to certain terraUSD (UST) holders.

20.05 / 08:29

business Stablecoin Usd Coin Terra fallout: Stablegains lawsuit, Hashed loses billions, Finder wrong and more....

Fallout from the collapse of the Terra ecosystem continues to unfold with the United States-based yield generation app Stablegains facing potential legal action over its losses from the event.

20.05 / 07:55

Blockchain Stablecoin Tether Bitfinex Terra Rug Pull Tether CTO: Terra wasn’t a rug pull, it was a poorly designed ‘castle of cards’

Tether and Bitfinex CTO Paolo Ardoino said that the Terra (LUNA) project was not intended to be a rug pull, but was simply “poorly designed.”

20.05 / 00:49

Stablecoin regulation financial stability Financial G7 financial officials call on Financial Stability Board to step up crypto regulation—report

The top financial officials from the Group of Seven (G7) largest advanced industrial economies has called on the Financial Stability Board to speed up crypto-asset regulation, Reuters reported Thursday, citing a copy of a communique it had obtained. The officials from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States were meeting in Koenigswinter, Germany, following a G7 foreign ministers’ meeting earlier in the week.

20.05 / 00:09

Government Stablecoin Federal Reserve vice chair Biden's pick for Fed vice chair for supervision calls for congressional action on stablecoins

Michael Barr, a law professor and former advisory board member of Ripple Labs who is United States President Joe Biden’s pick for vice chair for supervision at the Federal Reserve, called for U.S. lawmakers to regulate stablecoins in an effort to address “financial stability risks.”

19.05 / 22:31

markets Stablecoin Analysis avalanche Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and its a near-dead UST algorithmic stablecoin project.

19.05 / 20:33

business Stablecoin Tether Fiat Money Holdings reports Tether reports 17% decrease in commercial paper holdings over Q1 2022

USDT Stablecoin issuer Tether has reported it cut its reserves allocation to commercial paper investments and increased that of United States treasury bills over the first quarter of 2022.

19.05 / 17:13

Blockchain Stablecoin Huobi Terra Bitcoin NOT Terra crash not a risk to the broader crypto ecosystem, says Huobi Global co-founder

As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Jun Du, co-founder of Huobi Global.

19.05 / 15:31

cryptocurrency Stablecoin After Stablecoin Meltdown, US Crypto Industry Tries To Contain Fallout

US crypto lobbyists in push to contain fallout from stablecoin meltdown

19.05 / 13:03

Stablecoin defi MARKET Tether Terra Redemptions Tether in the Spotlight After USD 9B Worth of Redemptions

The popular stablecoin tether (USDT) is again the subject of unwanted attention after approximately USD 9bn has been redeemed for US dollars by users in the aftermath of the terraUSD (UST) collapse.

18.05 / 23:07

markets Stablecoin Tether Usd Coin Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?

The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second largest blockchain after Ethereum (Terra), the de-peg contagion seems be spreading wider.

18.05 / 20:43

Stablecoin Tether Usd Coin Bitcoin analysts Analysts assess the aftermath of the Terra (LUNA) collapse | Cointelegraph interview

Financial commentator Frances Coppola is convinced that algorithmic stablecoins such as TerraUSD (UST) will always be vulnerable to sudden collapses, no matter how much the technology improves.

18.05 / 14:01

Blockchain Stablecoin Altcoins Terra Do Kwon’s Plan for New Terra Blockchain Becomes ‘Final’

A plan to revive the Terra (LUNA) ecosystem by creating a new blockchain without an algorithmic stablecoin has been designated as “final” by Terraform Labs CEO and co-founder Do Kwon.

18.05 / 13:05

Stablecoin defi MARKET USDC Terra Updates Fantom Stablecoin DEI Remains Below Dollar Peg For Third Day, No Updates from the Team

DEI, a hybrid algorithmic stablecoin of decentralized finance (DeFi) protocol DEUS Finance, has failed to restore its intended peg, currently trading under one dollar for the third day.

17.05 / 23:41

markets Stablecoin Bitcoin analysts Bitcoin is discounted near its ‘realized’ price, but analysts say there’s room for deep downside

There are early signs of the "dust settling" in the crypto market now that investors believe that the worst of the Terra (LUNA) collapse looks to be over. Viewing Bitcoin's chart indicates that while the fallout was widespread and quite devastating for altcoins, BItcoin (BTC) has actually held up fairly well.

17.05 / 14:51

business Stablecoin regulation Terraform Labs Terra hearing Do Kwon summoned to parliamentary hearing following UST and LUNA crash

The dramatic fall of Terra (LUNA) along with the algorithmic stablecoin UST has been a major talking point among the crypto industry. And now South Korean conservative party has requested a parliamentary hearing on the matter.

17.05 / 12:57

Blockchain Stablecoin regulation Agency US congress research agency weighs in on UST crash, notes gaps in regulation

The Congressional Research Service (CRS), a legislative agency that supports the United States Congress, has published a document that contains a rundown on algorithmic stablecoins and points out key factors to look at in the TerraUSD (UST) crash.

17.05 / 12:25

Stablecoin Altcoins regulation Terra hearing politician Financial South Korean Financial Regulators Begin Terra Probes, Politician Calls for Kwon to Face Parliamentary Hearing

The Terraform Labs mastermind Do Kwon (real name Kwon Do-hyeong) could be facing trouble from financial and law enforcement authorities in South Korea and Singapore as a torrid month for the Terra (LUNA) platform just keeps getting worse.

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