DeFi Protocols, Stablecoins To Be Affected By Merger
DappRadar says that switching to proof-of-stake could lower the value of stablecoins and reduce the size of lending pools if the Merger should go through. A new DappRadar report released on Friday says that Ethereum’s upcoming Merger could greatly affect how DeFi protocols work on crypto’s most popular decentralized finance chain. The study focuses on […]
Stablecoin USDN de-pegs amid protocol upgrade
Algorithmic stablecoin USDN is struggling as it deviates from its peg to the US dollar to $0.90 amid the crypto community struggles in the bear market. Wave-backed algorithmic stablecoin Neutrino Dollar (USDN) has strayed from the dollar once more, making this the fourth occasion this year that it has had trouble doing so. At the […]
New Stablecoin Rules Enter UK Crypto Industry
A proposed bill could give U.K. regulators more control over crypto assets like stablecoin that are used for payments, but it’s not clear yet how the rules will be interpreted. Most crypto supporters in the U.K. are happy about a new bill that could include digital assets like stablecoin in the rules that govern local […]
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 […]