Only EUR and USDC trading pairs will be supported on the platform in the EU area going forward, according to the message.
Stablecoin News
One of the hindrances to mainstream cryptocurrency adoption is price volatility, as these assets are freely traded in the open market without central administrators tasked with maintaining price stability. The anticipation of potential losses and gains has hindered cryptocurrency’s use as a medium of exchange. Stablecoins, however, are cryptocurrencies designed to maintain a stable value over time, making them ideal for commercial transactions.
The introduction of stablecoins in the cryptocurrency market ushered in a new wave of liquidity, as exchanges were able to provide trading pairs with tokens representing traditional fiat currencies.
Stablecoin design takes many different forms, each with its own tradeoffs:
- Reserve-backed stablecoins: Cryptocurrencies pegged to the value of a fiat currency held in reserve by a company or consortium. E.g., Tether (USDT), USD Coin (USDC) and Paxos Standard (PAX).
- Collateralized stablecoins: Tokens backed by other cryptocurrencies that retain a one-to-one value with a fiat currency through over-collateralization to absorb potential volatility of the underlying assets. E.g., Dai and BitUSD.
- Algorithmic (seigniorage supply) stablecoins: Rather than using a reserve or collateralization to maintain a stable value, these stablecoins are facilitated through an automated expansion and contraction of the monetary supply, emulating the role of central banks in the fiat economy. E.g., Basis.
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The European Parliament granted final approval to the European Union’s artificial intelligence law, one of the world’s first set of comprehensive AI regulations.
2310The funding rate for Bitcoin perpetual futures has been reset after $370 million in contracts was liquidated. Is that a good sign?
12617Mehen Finance planned to launch USDM in early 2023 but saw delays after crypto-friendly banks shuttered in 2023 and its banking partner went to work with Circle.
5265After a monstrous rally, the BTC price is showing signs of cooling off, with altcoins quickly following suit.
6764This regulatory framework for stablecoins results from a joint collaboration between the European Banking Authority and the European Securities and Markets Authority.
4064Binance will delist the COMP/TUSD, EDU/TUSD and PENDLE/TUSD trading pairs on March 15 at 3:00 am UTC.
2084The U.S. Attorney’s Office says this is one of the first times the U.S. has recovered USDT from an unhosted digital currency wallet.
5550Tether has entered a collaboration with Celo to enable “sub-cent transaction fees” for USDT and facilitate feasible microtransactions.
4531The digital euro intends to be the next evolution of the European currency, but before its inception, it has already caused division in Europe.
987A Sony patent proposes video game assets tracked with a “super-fungible token,” and dogwifhat punters are close to buying an ad on the Las Vegas Sphere.
7764Stablecoin flows to exchanges highlight traders’ belief that the crypto market is ready to rally higher.
4456Pro-Bitcoin Senator Cynthia Lummis is drafting regulations for stablecoins after attacking major stablecoin firm Tether in 2023.
43142The United States and South Korea have been fighting for Kwon’s extradition since he was arrested in March 2023.
4620The co-founder of bankrupt Terraform Labs was first set to be extradited to the United States after lengthy court battles.
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