News
Coinbase CEO Brian Armstrong said the Senate could reconsider a vote on the GENIUS Act "hopefully tomorrow" after it initially failed on May 8.
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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.
- News
Canada categorized stablecoins as securities and/or derivatives in December 2022, a month after the collapse of cryptocurrency exchange FTX.
10625 - News
Kima has integrated with Mastercard’s sandbox program to enable stablecoin top-ups for prepaid cards from self-custody wallets.
3940 - News
The number of crypto venture deals in the first quarter dropped nearly 40% from a year ago, but the amount invested more than doubled.
2809 - News
In an exclusive interview with Cointelegraph at the Futurist Conference, Coinbase Canada’s CEO disclosed a recent investment in Stablecorp and outlined plans for the local stablecoin market.
2914 - Analysis
A bill to regulate stablecoins failed to pass a crucial vote in the US Senate on May 8 in part due to Democratic lawmakers' concerns over Donald Trump's ties to crypto.
1207 - Market Analysis
Falling Bitcoin and USDT dominance and the recent triple-digit returns from altcoins could be a sign that altseason has started.
3954 - News
South Korea’s new Digital Asset Committee joins similar initiatives such as the Virtual Asset Committee launched in late 2024 by the Financial Services Commission.
1750 - News
Tether Gold has arrived in Thailand with a listing on Maxbit, an exchange backed by PTG Energy, a major Thai energy conglomerate.
1770 - News
Crypto financial services firm Anchorage Digital has bolstered its stablecoin offerings with the acquisition of stablecoin issuer firm Mountain Protocol.
1817 - News
Despite restrictions in many developed markets, USDt still commands 61% of the total stablecoin market by circulating supply.
8716 - News
Speculative activity remains closely tied to global funding rates, highlighting crypto’s growing “interconnectedness” with traditional finance, a BIS report claimed.
2462 - News
The Senate for the US Pacific territory of the Northern Mariana Islands has overridden a governor’s veto of a stablecoin bill, which will now head for a House vote.
4688 - News
With increasing government oversight, some crypto users may be forced to look for censorship-resistant stablecoins in the future.
3883 - News
After quashing a vote over a stablecoin bill in the Senate, a group of Democratic lawmakers reportedly asked Trump allies to consider his ties to the crypto industry.
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