stablecoins | ForkLog

ForkLog 30 26.05.2022

Tether launches MXNT stablecoin pegged to the Mexican peso

Tether, the issuer of the largest-stablecoin by market capitalization, launched the MXNT stablecoin pegged to the Mexican peso.

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ForkLog 17 24.05.2022

Muse frontman invests in Pebble, a crypto startup

The frontman of the British rock band Muse, Matthew Bellamy, has invested in Pebble, which has raised $6.2 million in seed funding.

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ForkLog 23 23.05.2022

USDT holders have withdrawn $10 billion into fiat since the start of May

Since the start of May, Tether Holdings Limited has redeemed tokens from USDT holders worth $10 billion. The Guardian reports this.

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ForkLog 24 23.05.2022

Circle begins weekly reporting on USDC reserves

Circle, the operator of the second-largest stablecoin USD Coin (USDC), published reserve data. The firm intends to disclose information weekly, its chief executive Jeremy Allaire said.

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ForkLog 16 20.05.2022

Fed vice-chair candidate urges regulation of stablecoins

The nominee for the position of vice chair of the Fed, Michael Barr, at a Senate hearing, highlighted the importance of creating a regulatory framework for stablecoins. If confirmed to the post, he would focus on banking regulation tasks.

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ForkLog 19 20.05.2022

Tether CTO labels TerraUSD a poorly designed product

Tether's Chief Technology Officer Paolo Ardoino compared the algorithmic stablecoin TerraUSD (UST) to a 'house of cards' that was due to collapse at any moment. In his words, the project was simply 'badly designed'.

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ForkLog 10 20.05.2022

G7 urges faster regulation of cryptocurrencies after TerraUSD collapse

FSB should accelerate the development of digital asset regulation. The request is contained in the communique from the G7 finance ministers' meeting, Reuters reports.

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ForkLog 30 19.05.2022

Tether trims USDT collateral in commercial paper by 17%

In the first quarter of 2022, the issuer of the stablecoin USDT—Tether Holdings Limited—reduced its reserves in commercial paper by 17%. By the end of the second quarter the company planned to reduce the collateral in these assets by a further 20%.

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ForkLog 13 19.05.2022

Mike Novogratz says Terra USD was ‘a big idea that failed’

The collapse of the Terra ecosystem undermined trust in the DeFi sector and the broader crypto market, even though the idea of creating an algorithmic stablecoin looked promising. This was stated by Galaxy Digital founder Mike Novogratz.

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ForkLog 169 19.05.2022

Terra’s death spiral: how and why LUNA and UST collapsed

ForkLog examined the causes of Terra's collapse, assessed current and potential future implications for the industry, and the project’s recovery prospects.

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ForkLog 24 18.05.2022

South Korea to sue Terraform Labs CEO over UST collapse

One of South Korea's leading law firms, LKB & Partners, is preparing to file a lawsuit against Terraform Labs CEO Do Kwon. Local media report, citing the company's statement.

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ForkLog 79 18.05.2022

What are algorithmic stablecoins?

How do algorithmic stablecoins work? What stabilisation mechanisms exist and how do they differ? Explained in ForkLog cards.

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