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Despite the strong downturn seen in the crypto markets, epitomized by Bitcoin’s 50 percent decline that transpired on March 12, the amount of Tether’s USDT stablecoin in existence has exploded.
Binance’s BUSD has become the fifth largest stablecoin by market capitalization, as investors flock to stablecoins for safety amidst extreme volatility in both the crypto and global financial market.
USDC, a stablecoin developed by the Circle, is the second-largest USD-backed stablecoin on the market according to data from Skew.
The possibility of launching a stablecoin on the Cardano network has gone from rumor to major news, as Charles Hoskinson said that it would increase demand for ADA.
The volume of stablecoins on Ethereum has dwarfed the volume of the network’s native cryptocurrency ETH.
Tether, the company behind the biggest stablecoin in the world, has launched Tether Gold, a digital asset providing exposure to physical gold.
Ugur Ibrahim Altay, the Mayor of Konya, Turkey’s seventh-most-populous city, recently confirmed that the initial steps required to launch a cryptocurrency project called “city coin” had been completed.
Eight months after launch, Terra, a stablecoin protocol backed by four of the world’s largest crypto exchanges, has surpassed one million user accounts and hit an annual run rate of $2.4 billion, the company reported in a press release seen by CryptoSlate.
Popular cryptocurrency exchange Poloniex shocked the crypto industry when they announced that they would be offering an unprecedented interest rate to users looking to engage in USDC and USDT lending, offering interest rates as high as 65 percent APR to customers located in the European Union.
2019 will go down as the year when the world went digital currency crazy.
The president of the European Central Bank (ECB), Christine Lagarde, pledged to meet the growing demand for stablecoins by getting “ahead of the curve” in the rapidly evolving economic environment.
CryptoSlate recently had the opportunity to chat with Steven Becker, the President and COO of MakerDAO.
Gregory Klumov, founder and CEO of Stasis, a platform that allows users to legally digitize any type of financial asset in a secure and transparent manner, says that after creating the framework for digital assets in Malta, he made a strategic shift into entrepreneurship in order to develop crypto-related products for institutional investors.
In an early-morning tweet on October 29th, Tether announced that it would be performing a 300 million USDT chain swap.
Mark Zuckerberg, the founder and CEO of Facebook, has testified before the United States House Financial Services Committee, where Congress members have raised their concerns about the company’s past and future dealings.
Huobi has pledged its commitment to the Turkish crypto community in a big way, announcing a slew of initiatives at last week’s Eurasia Blockchain Summit.
On September 25, the crypto market experienced one of its steepest falls in recent years as the bitcoin price abruptly dropped by more than $1,500 in merely hours, sending many cryptocurrency investors to Tether.
Everipedia co-founder Sam Kazemian talks about changing DeFi, stablecoins, and banking through his latest startup, Frax.