Stablecoin Financial News

Cryptoassets continue to prove their case in Ukraine, as well over USD 100m in crypto was raised during the first five weeks of the Russian invasion. 

Terra (LUNA) founder Do Kwon’s plan to partly back the stablecoin UST with bitcoin (BTC) is causing both excitement and concern in the community, with some fearing what could happen to the bitcoin market if Terra faces problems with trust or liquidity.

The George Mason University Antonin Scalia Law School National Security Institute hosted a webinar Wednesday, March 30, titled “Crypto and National Security: How to Validate American Innovation and Verify U.S. National Security.” Journalist Laura Shin moderated the discussion. CEO of the Crypto Council for Innovation Sheila Warren, executive director of Coin Center Jerry Brito, and global managing partner and chief strategy officer of risk compliance and monitoring firm K2 Integrity Juan Zarate were participants.

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Terraform Labs CEO Do Kwon has conceded that a crash in the price of Bitcoin would be “negative” for the stability of the UST stablecoin, but that he expects Bitcoin to go up.

A senior official from the Bank of Japan (BOJ) has warned G7 nations that a common framework for regulating digital currencies needs to be put in place as quickly as possible. 

On Thursday, USD Coin (USDC) operator Circle announced that it had selected financial institution BNY Mellon as the custodian of its USDC reserves. Founded in 1784, BNY Mellon is one of the oldest banks in America and possesses over $46.7 trillion in assets under custody or administration worldwide. It serves as a single point of contact for clients looking to manage their investments. With the new partnership, BNY Mellon said it will also explore the possibility of using digital cash for settlement purposes. Roman Regelman, CEO of asset servicing and head of digital at BNY Mellon, gave the following remarks: 

Rebase tokens are a type of cryptocurrency that adjusts their circulating supply in response to price fluctuation. This can be done via burning or minting tokens via the network to ensure price stability without affecting the value of a user’s holdings.

Terra (LUNA) rose to its best level to date on March 29 as the Luna Foundation Guard's (LFG) plans to increase its Bitcoin (BTC) reserves eased anxiety about the impact of an increasingly hawkish Federal Reserve and the ongoing Ukraine-Russia war on crypto markets.

"Stargate Finance" has been trending on Twitter for the past week and while it's too early to call for a full blown DeFi bull market, traders have been shoveling funds into the project which claims to be a “composable omni-chain native asset bridge.”

Bitcoin (BTC) broke through a key resistance level and reached a price well above USD 47,000 overnight. The gain was supported by Terra (LUNA)'s continued buying of BTC and by high liquidations of leveraged short positions.

The UK government is reportedly slated to reveal its crypto regulatory framework in the coming weeks, and it will include a special focus on stablecoins, per anonymous sources cited by CNBC.

The war in Ukraine will make countries “re-evaluate their currency dependencies,” with work on digital currencies likely to be accelerated, according to Larry Fink, CEO and Chairman of the major asset manager BlackRock.

Bitcoin (BTC) returned to $43,000 on March 24 as new purchases by Blockchain protocol Terra fuelled optimism.

Big 4 bank ANZ has become the first Australian bank to mint an Australia dollar (AUD) pegged stablecoin named “A$DC.”

“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss which are the top coins to buy in a bear market.

Bitcoin (BTC) showed signs of wanting higher levels still on March 22 as Wall Street Trading saw a return above $43,000.

Terra, an open-source blockchain platform for algorithmic stablecoins, has been on fire over the last half-year or so. The value of its native crypto asset Terra (LUNA) has risen from $24 to over $100 during the last six months, placing it in the top 10 cryptocurrencies by market capitalization. 

cryptocurrency and the increasing use cases that investors have noticed have compelled many of us to invest in digital assets. Large returns noticed by currencies like bitcoin and other cryptocurrencies in recent years have pumped up the demand, making the market all the more volatile. In such a market, how does one reduce the risk and maximize their return? That’s when stablecoins come into the picture. Stablecoins, simply put, are cryptocurrencies with very little volatility and stability in prices, as they are backed by cash and cash assets, keeping their prices predictable with minimal risks. Since the chance of a cryptocurrency going from a million dollars to insignificance is a possibility in a very short span of time, stablecoins are used to cover the bridges between fiat & crypto for payments, lending, trading and alternative banking transactions. However, currencies such as bitcoin and ethereum are highly volatile as they grow and fall in erratic patterns. This is something stablecoins eliminate. But given its nature of being backed by fiat itself, it raises the question of whether a stablecoin is indeed a cryptocurrency or a digitized version of fiat currency. Your guess here is probably the same as ours. Stablecoins fall in the grey area, drawing similarities from both the worlds.

The founder of Terraform Labs (TFL) and Ethereum competitor Terra (LUNA) Do Kwon has outlined plans to accumulate a whopping $10 billion worth of Bitcoin (BTC) to add to the project’s stablecoin reserves.

According to data compiled by Coin Metrics, the number of stablecoin wallet addresses with account balances over an equivalent $1 million USD has recently surpassed 12 million — up from 4 million one year ago. The stablecoins counted in the analysis include Tether ERC-20 (USDT), Tether TRC-20, Binance USD, DAI, GUSD, HUSD, PAX, and USD Coin (USDC).