Binance to End Support for BUSD Stablecoin in December
Binance cryptocurrency exchange has declared that as of December 15, it will no longer support all Binance USD (BUSD) products, and all Binance USD balances will automatically be converted into First Digital USD starting on Dec. 31. Binance informed users on November 29 that they must convert or withdraw their existing BUSD on the exchange […]
Tokenized Treasury-backed USDV Stablecoin Debuts
A new stablecoin named USDV was introduced with the goal of bringing stability and transparency. An announcement made available states that USDV is backed by short-term government bills that have been turned into digital tokens via blockchain technology and is correlated with the value of the US dollar. Matrixport, a Bitcoin financial services provider, is […]
Tether Mints 4B USDT in 4 Weeks – Whale Alert
According to data from Whale Alert, stablecoin issuer Tether has issued 4 billion USDT tokens in the past month, increasing the quantity of USDT tokens minted and accounting for nearly 18% of all USDT issued in 2023. According to blockchain data provider Whale Alert, on November 10, Tether distributed an additional 1 billion Tether on […]
PayPal Receives Subpoenas from SEC over PYUSD Stablecoin
After launching its stablecoin in August, PayPal became the first major fintech firm to adopt digital currencies for payments and transfers. PayPal Holdings, a worldwide payments firm expanding into the crypto space, has received a subpoena from the Securities and Exchange Commission (SEC) involving its US dollar stablecoin PayPal USD (PYUSD). The SEC maintains a […]
Tether Reserve Attestation Shows 86% Cash and Cash Equivalents
Tether’s newest reserve attestation consisted of approximately 86% cash and cash equivalents, according to a new attestation report from accounting firm BDO. This is the highest proportion of cash and cash equivalents that Tether’s reserves have ever contained. The report indicates that $56.6 billion in reserves consist of U.S. Treasury notes with a maturity date […]