Binance Holds Almost 90% of TrueUSD After Overnight Spike to $2.7B
Binance, the world's largest cryptocurrency exchange, now holds almost 90% of TrueUSD after an overnight spike saw over $2 billion of the dollar-pegged stablecoin move to the platform. This brings Binance's TrueUSD holdings from less than $500 million to almost $2.7 billion.
Tether's USDt Launches on Cosmos via Kava, Bringing Deep Stablecoin Liquidity to the DeFi Ecosystem
Tether's USDt stablecoin has been successfully launched on Cosmos via Kava, providing deep stablecoin liquidity across the Inter-Blockchain Communication (IBC) and Ethereum Virtual Machine (EVM) ecosystems.
Circle Considers Issuing Stablecoin in Japan Following New Legislation
Payment services company Circle is considering issuing a stablecoin in Japan following the implementation of legislation governing stablecoins on June 1. CEO Jeremy Allaire believes Japan could become an extremely large market for stablecoins if they are more widely used for cross-border trade and global commerce.
Hong Kong Explores Launching Government-Backed Stablecoin to Challenge USDT and USDC Dominance
July 4 (Cointime) - Hong Kong is considering launching its own Stablecoin, HKDG, to compete with established Stablecoins such as USDT and USDC. The proposal, co-authored by prominent figures in academia and industry, aims to enhance Hong Kong's position in the digital currency landscape and promote financial innovation.
Curve’s Native Stablecoin crvUSD Has Minted More Than 55 Million Pieces
July 4 (Cointime) -According to data from the Curve website, the number of minted crvUSD, Curve’s original stablecoin, exceeded 55 million, of which 40.38 million were minted based on wstETH, 8.16 million were minted based on sfrxETH, and about 5.67 million were minted based on WBTC. The minted amount based on ETH is 1.26 million pieces.
True USD's Liquidity and Pricing Examined Amid Increasing Short Interest and Exposure to Troubled Digital Asset Company Prime Trust
June 29 (Cointime) - Traders are closely watching the liquidity and pricing of True USD (TUSD) stablecoin as short interest rises. Recent reports show that TUSD has a $26,000 exposure to Prime Trust, a digital asset on- and off-ramp company that has been placed under receivership by Nevada regulators.
Crypto Custodian Prime Trust Faces State Takeover Over $80M Owed to Customers
June 29 (Cointime) - Crypto custodian Prime Trust is facing a takeover by the state of Nevada as it owes customers over $80 million in cash that it cannot repay. The state has filed for receivership and accused Prime Trust of using customer fiat funds to buy crypto to meet withdrawal requests after losing access to certain crypto wallets in 2021.
Former Terra Classic Developer Offers Assistance to L1JTF Despite Controversial Departure
June 29 (Cointime) - Former Terra Classic (LUNC) L1 Team developer Tobias "Zaradar" Andersen has expressed his willingness to help the L1JTF if needed, despite his controversial departure.
TrueUSD Trading Volume Bragged About Amid Peg Loss and Custodian Concerns
June 28 (Cointime) - The team behind TrueUSD is promoting its trading volume despite the recent depegging of the stablecoin from the US dollar, which has caused concern among holders. TUSD's value fell to 80 cents on Binance US before stabilizing around 90 cents.
Paxos and MercadoLibre Partner to Bring Stablecoin to Mexico's MercadoPago Payment Service
June 28 (Cointime) - Blockchain fintech company Paxos has partnered with online marketplace MercadoLibre to bring the Pax Dollar (USDP) stablecoin to Mexico via the MercadoPago payment service. USDP will be available to all MercadoPago customers in Mexico, where cryptocurrency use currently has a 9.3% penetration rate with over 12 million users.
