IMF director predicts difficulties for algorithmic stablecoins
Tobias Adrian, director of the IMF, thinks that algorithmic stablecoins are too risky for holders and may see additional sell-offs. In the midst of the continuing crypto winter, the director of capital markets at the International Monetary Fund (IMF) predicts that there may be other “coin offers” that fail, including algorithmic stablecoins. Tobias Adrian, the […]
Tether continues to cut back on commercial paper since March
In order to dispel speculations, the stablecoin issuer declared last month that it will be eliminating all commercial paper from its holdings. According to plans, Tether is lowering its holdings of commercial paper, the stablecoin business announced on Friday. According to initial plans revealed last month, it has met the target amount of $8.4 billion […]
Stablecoin FUD debunked by Tether CTO as short-sellers circle
Tether CTO accused hedge funds of aiding the spread of FUD; fear, uncertainty, and doubt in order to buy the tokens at a much lower price. According to Paolo Ardoino, certain hedge funds are allegedly putting “billions” of dollars under pressure to “damage Tether liquidity” in order to later repurchase tokens at a much reduced […]
Circle launches stablecoin backed by Euro dubbed EUROC
As the demand for stablecoins continues to rise, Circle is releasing a fully-reserved stablecoin tied to the Euro, known as EUROC. Circle announced in a statement shared with Cointelegraph on Thursday that Euro Coin, or EUROC, will be accessible for trading on June 30. Euro Coin, like USDC, is a regulated stablecoin backed entirely by […]
TRON DAO Reserves Buy $38 Million Worth Of TRX To Safeguard The Stablecoin USDD
The purchase of TRX by TRON DAO is to back the algorithmic stablecoin, to leverage a forex reserve that is similar to Terra’s UST reserve. Terra’s UST reserve system is gaining popularity, and Tron’s stablecoin project is following suit. Tron’s algorithmic stablecoin project was reported on by Coinscreed, and the fiat-pegged crypto asset has since […]