Euro-Backed Stablecoin Euro Coin Is Now Live on Coinbase
Euro Coin, originally introduced by Circle in June 2022, is pegged to the value of the euro and is 100% backed by euros in EUR-denominated bank accounts.
TUSD Crosses This Landmark and Reaches $1 Billion Market Cap
In the past few weeks, True USD [TUSD] surged in market value to become the sixth-largest stablecoin overall. Although Tether [USDT] is the largest stablecoin by market cap, the situation is rapidly changing.
Crypto Morning Briefing: Coinbase To Halt Trading of Binance’s BUSD for Not Meeting Listing Standards
Binance Moved $1.8B in Stablecoin Collateral to Hedge Funds Last Year; Huawei To Launch Metaverse and Web3 Alliance for East Asia; Tron Founder Justin Sun Becomes Top Holder Of Staked Ethereum Amid Shanghai Upgrade; DeFi Giant MakerDAO Rejects $100M Loan to Cogent Bank
TrueUSD Becomes 5th Largest Stablecoin as Binance Mints $130M TUSD in a Week
Driven by an increasing role on crypto exchange giant Binance, the TrueUSD (TUSD) stablecoin has become the fifth largest stablecoin by market capitalization.
Binance Moved $1.8B in Stablecoin Collateral to Hedge Funds Last Year: Forbes
Cryptocurrency exchange Binance moved $1.8 billion of collateral meant to back its customers' stablecoins to hedge funds last year, according to a Forbes article on Monday.
Cryptocurrency Regulation Is Upside Down
New waves of cryptocurrency regulation are usually brought about following some form of incident within the cryptocurrency market.
Circle CEO Says Stablecoin Regulation Should Not Be Assigned to US SEC
Circle CEO Jeremy Allaire told Bloomberg on Feb. 23 that the U.S. Securities and Exchange Commission should not be tasked with regulating stablecoins.
TUSD Leverages Chainlink Proof of Reserve for Real-Time Verification of Stablecoin Minting
On Wednesday, the stablecoin project Trueusd announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens. The trueusd crypto asset has a circulating supply of over 968 million tokens and is the sixth-largest stablecoin by market capitalization. The POR data feed is a smart contract that automatically checks “whether the total supply of TUSD would exceed the total amount of U.S. dollars held in reserve before any new stablecoin is minted.” According to a statement by Ryan Christensen, the CEO of Archblock, the firm is looking forward to using Chainlink’s POR technology to improve transparency and verifiability. (Bitcoin.com)
Frax Finance to Retire Algorithmic Backing Amid Stablecoin Crackdown
The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol. The FIP-188 governance proposal initially posted on Feb. 15 reached a quorum following a 98% vote in favour, according to a snapshot on Feb. 23 — which would change the collateralization model of FRAX. “The time has come for Frax to gradually remove the algorithmic backing of the protocol,” last week’s proposal read. (Cointelegraph)
Euro-Backed Stablecoin, Euro Coin Set to Trade on Coinbase
Support for Euro Coin (EUROC), a euro-backed stablecoin, will go live on Coinbase in regions where trading is supported, the exchange said on Twitter.
