Stablecoin Reserves in Centralized Exchanges Continue To Fall After FTX Collapse
Gradually, alongside the cryptocurrency industry, stablecoins are growing in strength and popularity. Their growth results from the stability they offer against cryptocurrency volatility.
Investment Firm Société Générale Mints $7 Million in Stablecoin Loan From MakerDAO
Société Générale, a French multinational investment bank and financial services company, minted $7 million as a loan of dai stablecoin from its issuer MakerDAO.
Silvergate Writedown Casts Doubt on Future of Meta’s Failed Stablecoin Project
Crypto banking group Silvergate Capital further cooled its stablecoin ambitions last week, slashing the value of assets that it purchased from a defunct Facebook crypto project. Silvergate disclosed that it took a $196 million impairment charge during its final fiscal quarter last year, writing down the value of intellectual property and technology it acquired from Diem Group early last year. The revised figure represents a 98% loss compared to the $200 million it paid for the assets. Silvergate had planned to launch a stablecoin using the assets last year, announcing plans to do so in its third fiscal quarter of 2021. (decrypt)
Orange Financial To Launch Innovative Yield Farming Treasury – Stablecoin Rewards for NFT Holders
Orange Financial, a multi-chain yield farming treasury, is excited to announce its public mint date on February 1st, 2023. As the only NFT project to offer stablecoin rewards through yield farming to its holders, Orange Financial will revolutionize the world of yield farming and NFTs.
DOJ Said to Probe Saber Labs Founders Over Solana-Based DeFi, Stablecoin Projects
The U.S. Department of Justice is investigating the two brothers behind Solana stablecoin exchange Saber Labs, Ian and Dylan Macalinao, according to two people familiar with the matter.
Ondo Finance Launches Tokenized US Treasuries, Bonds for Stablecoin Holders
DeFi firm Ondo Finance launched a tokenized fund on Jan. 10 that allows stablecoin holders to invest in bonds and U.S. Treasuries.
On-chain Treasurys, Bonds New Options for Investors Searching for Safe Havens
For stablecoin holders searching for risk-free safe havens, there’s one fresh option on the market: Ondo Finance’s new tokenized US Treasury and bond offerings. As of now, the fund is set to be split between three separate tokenized share classes, Ondo said on Tuesday. Each share class invests in a single short-term US Treasury and bond exchange-traded fund, “managed by institutions like Blackrock and PIMCO,” according to the firm. The minimum investment is 100,000 USDC under a management fee of 0.15%. Interested investors are subject to compliance requirements, including know-your-customer (KYC) provisions and compliance safeguards designed to ward off money laundering. (Blockworks)
UK MP Says Stablecoin Is a Gateway to CBDC, Only Crypto Can ‘Disrupt’ Settlements
A stablecoin will likely serve as a “first use case of what is likely to be a wholesale settlement coin” in the “long runtime” leading up to the potential introduction of a central bank digital currency (CBDC), Member of Parliament and HM Treasury Economic Secretary Andrew Griffith said.
Stablecoin Issuing Protocol e-Money Has Ended Its Issuance of EEUR
Stablecoin issuing protocol e-Money has ended its issuance of EEUR, a stablecoin pegged to the euro, citing current market conditions as the reason.
Yearn.finance Opens Vault Deployment Access to All Users
Decentralized yield protocol Yearn.finance said in a Jan. 9 tweet that all users can now create sophisticated Permissionless Vault Factories on its platform. The current version of Vault Factory works with stablecoin-swapping platform Curve Finance and its liquidity provider (LP) tokens and features three premade yield strategies.
