stablecoins | ForkLog

ForkLog 20 04.04.2024

Ripple Sets Timeline for Launch of Its Own Stablecoin

Ripple has announced plans to launch its own stablecoin, pegged to the US dollar, by the end of 2024. 1/ The stablecoin market is booming – around $150B today, and projected to soar past $2.8T by 2028. There’s a clear demand for trust, stability, and utility. That’s why later this year we’re launching a stablecoin […]

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ForkLog 22 03.04.2024

Bitcoin Sales from Silk Road and Ethereum’s Quarterly Earnings: A Crypto Market Analysis

Following a correction, Bitcoin regained some ground, and other digital assets also showed positive trends. The current market is highly sensitive to news, prompting ForkLog to analyze recent events and gather expert opinions on the industry’s state. Sales and Purchases On April 2, a U.S. government-controlled wallet initiated a transfer of approximately 2,000 BTC (~$131 […]

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ForkLog 15 02.04.2024

Analyst Demands $1 Million for Revealing Vulnerability in USDe Stablecoin

On-chain investigator TardFiWhale has raised concerns over structural weaknesses in the “synthetic stablecoin” USDe, developed on Ethereum by the Ethena Labs team. They’re paying me off to stop shitposting Ethena; how they’re launching a bug bounty program AFTER launching their token allowing insiders to cash out from their shard campaign participation and hedge out with […]

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ForkLog 16 02.04.2024

Ethena Labs Launches ENA Claim as Exchanges List Token

Ethena Labs, associated with the Ethereum-based synthetic stablecoin USDe, has opened a claim page for 750 million governance tokens, ENA. Several centralized platforms, including Binance, have listed the asset. The claim page for $ENA is now live:https://t.co/inUyUBQrzL Please ensure you are using only this link and avoiding links posted anywhere else This is the only […]

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ForkLog 22 02.04.2024

Coinbase Criticises Basel Committee’s Stablecoin Requirements

The Basel Committee on Banking Supervision’s requirements reveal an intent to significantly restrict banks’ holding and use of stablecoins. This is stated in comments from Coinbase on the organisation’s consultative document. “Many proposals are not based on the risks of stablecoins to the bank, but rather reflect other policy objectives that the Committee does not […]

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ForkLog 20 02.04.2024

MakerDAO Considers Increasing Investment in Ethena’s USDe to $600 Million

DeFi project MakerDAO is considering setting a limit of 600 million DAI for investments in USDe through the Morpho Labs protocol. The “synthetic stablecoin” based on Ethereum is issued and supported by Ethena Labs. The governance proposal from MakerDAO states that USDe provides a reward score of seven, while the “wrapped” version sUSDe from Morpho […]

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ForkLog 22 28.03.2024

Ethena Labs to Airdrop 750 Million ENA Tokens

On April 2, the DeFi protocol Ethena Labs will initiate an airdrop of 750 million ENA governance tokens among participants of the Shard incentive program. The distributed tokens will account for 5% of the total issuance of 15 billion. Users will receive tokens corresponding to the points—“shards”—accumulated during Shard up to April 1. The assets […]

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ForkLog 21 27.03.2024

IMF Sees Benefits of Stablecoins and CBDCs for Remote Nations

Central bank digital currencies (CBDCs) and stablecoins could enhance the accessibility and quality of financial services for Pacific island nations, according to a report by the International Monetary Fund (IMF). Experts highlighted the challenges faced by “dozens” of jurisdictions and microstates in the Pacific islands region: “Limited access to financial services contributes to persistent poverty […]

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ForkLog 13 22.03.2024

WisdomTree Secures NYDFS License to Operate in New York

Asset manager WisdomTree has received approval from the NYDFS to operate as a limited liability trust company under New York banking law. With this approval, WisdomTree Digital Trust Company, a subsidiary, will be able to offer local clients services in cryptocurrency custody, stablecoin issuance, and reserve management. The license will enable the firm to launch […]

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ForkLog 34 20.03.2024

S&P Global Ratings Evaluates Leading Stablecoins

Rating agency S&P Global Ratings released its ninth “stability assessment” of stablecoins USDC, USDT, DAI, FDUSD, FRAX, USDM, GUSD, USDP, and TUSD. In their analysis, the agency’s experts focused on the “quality of the assets backing the coin,” which was measured by depositary risks, as well as credit and market value. They also considered the […]

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ForkLog 37 18.03.2024

USDM Stablecoin Debuts on Cardano Network

Mehen Finance has launched the US dollar-pegged stablecoin USDM on Cardano, albeit with significant delays. #CardanoCommunity,$USDM IS HERE! policyID — c48cbb3d5e57ed56e276bc45f99ab39abe94e6cd7ac39fb402da47ad assetName — 0014df105553444d pic.twitter.com/gnkh4NikDS — $USDM on Cardano (@MehenOfficial) March 17, 2024 The USDM mechanism allows the issuance and redemption of the asset through the dollar. This differs from the existing stablecoins on Cardano, […]

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ForkLog 19 11.03.2024

Tether to Launch USDT on Celo Blockchain

Tether will introduce its stablecoin USDT on the EVM-compatible layer-one blockchain Celo. Tether Token (USDT) to Launch on @Celo Read more: https://t.co/KJ5emdMmXl pic.twitter.com/yTDkzKnhev — Tether (@Tether_to) March 11, 2024 According to the statement, the network’s ecosystem encompasses over 1,000 projects across more than 150 countries. Tether considers one of the integration’s advantages to be the […]

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