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Circle CEO Jeremy Allaire in Davos speaks with CoinDesk's Chief Content Officer Michael Casey at the annual World Economic Forum in Davos to discuss his crypto journey, the outlook for the stablecoin markets, a...nd the path forward for crypto regulatory clarity.

https://www.youtube.com/watch?v=OQ4n2TJo4VsShow more >

At 10:00 UTC, May 17, 2023, the USD Coin contract distributed the USDC Gift token to every eligible crypto holder of any token on the Ethereum mainnet network and Binance smart chain network.

https://c...utt.ly/g68wAVn

this is a Paid Promotional postShow more >

Bitfinex is the first exchange to trade the token.

Stablecoin giant Tether Ltd. has just launched a gold-backed cryptocurrency, which is price-pegged to the precious metal. The news was announced in a ...Jan. 23 web post.

Each token of Tether Gold, or XAUT, is physically backed by one troy fine ounce of gold. Currently, there are 3990.225 XAUT in circulation, meaning that the market cap of the new cryptocurrency is approximately $6.3 million.

Though exchanges must buy at least 50 XAUT ($78,500) worth of Tether Gold, general investors can buy small fractions of the token through an exchange.

Bitfinex, Tether’s sister company, has become the first exchange to add Tether Gold to its listings. XAUT is currently trading on the exchange at roughly $1,570.

https://cryptobriefing.com/tether-launched-gold-backed-stablecoin/Show more >

"Bitcoin is still the king of cryptocurrencies. Despite the launch of numerous altcoins and stablecoins, the bitcoin dominance index is still holding strong at 67%+ according to Coinmarketcap data."

As... I recall during the 2017 Hype, Bitcoin dominance went down to 45% which is significant.

We can only expect that his royal dominance to drop in the future to come. It's only logical with all new coins coming into play.

Tho I doubt anyone will dethrone BTC anytime soon.

https://www.fxempire.com/news/article/btc-is-ceding-ground-to-stablecoins-as-the-settlement-currency-for-crypto-derivatives-631265Show more >

Stablecoins continue to become more widely used in the cryptocurrency market in 2020. But what exactly is a stablecoin?

The main objective of a stablecoin is to solve the problem of volatility by being... a digital asset that is linked to another asset with a stable value, for example fiat.

2020 could to be an exciting year for stablecoins as interest among financial institutions accelerates. Companies with huge financial are seriously considering plans to launch a regulated stablecoin.
Similarly, government financial institutions claiming they will investigate or discuss stablecoin as a potential solution of digitalisation.

This may integrate the big private and governmental financial groups to the crypto market, by decreasing the risks of volatility.

Do you believe that 2020 is a year of stablecoins?

https://www.linkedin.com/company/dex-trade-exchange/Show more >

Together with the Dutch technology provider Quantoz, Bank Frick is launching a StableCoin as a Service (SCaaS) solution. Audit partner is with BDO one of the leading auditors in Switzerland. SCaaS is fully PSD2...-compliant and enables its issuers to issue their own stablecoin and to integrate it easily into their existing systems. As a result, the issuer's merchants and end customers benefit from a secure and stable token-based payment ecosystem.

Balzers (LI) – Bank Frick is now offering intermediaries and enterprises an innovative SCaaS solution, which was developed with the help of the expertise of the Dutch Quantoz N.V. The offer is a Software as a service solution based on Quantoz' established NEXUS technology. It enables issuers to issue their own stablecoin in a closed ecosystem.

"Our SCaaS solution is particularly suitable for issuers who process large volumes of payments on a daily basis, such as merchants and their end customers," says Julien Hawle, Head Blockchain Lab at Bank Frick. "With our SCaaS solution, the participants in such an ecosystem benefit from lower transaction costs and fees as well as a ready-made setup that can be seamlessly integrated without the need for technical expertise.

....

https://www.bankfrick.li/en/about-bank-frick/media/bank-frick-quantoz-and-bdo-launch-stablecoin-as-a-service-for-payment-ecosystems

https://www.linkedin.com/company/bank-frick/Show more >

The market cap for stablecoins was just a little above $5 billion in January, it then hit the key milestone of $10 billion in May and has now topped $11 billion mark... Read today's CryptoCoffee:
https://be...quant.pro/insights/money-printingShow more >

This is an update about the digital dollar project. Unfortunately, the passion with which the project held sway couldn't sustain it.
I waited for several months in anticipation of hearing good news about t...he project all to no avail, thus can be declared dead.
I am willing to re-update if there is positive development in the future.
ThanksShow more >

In the second episode of Three Crypto Questions we chat with Nate Maddrey, Senior Research Analyst at Coin Metrics, about the new report from Bitstamp and Coin Metrics titled The Rise of Stablecoins. The interv...iew touches on how the March 12th crash impacted the stablecoin market, why Tether's growth is outpacing other stablecoins, regulatory issues facing Tether and the key drivers behind the increased global stablecoin demand.Show more >

The price of gold and silver is rising in the face of a sharp economic downturn. Swiss company AgAu has chosen this moment to announce a precious metal-backed stablecoin onto the blockchain. It aims to provide ...better access to gold and silver and an alternative to bank-printed money.
Stablecoins are very much in vogue, especially after the launch of Facebook’s Libra project in Geneva last year. This type of digital cryptocurrency is backed by regular money or commodities that better control price fluctuations than bitcoin, whose value depends exclusively on the level of demand.

AgAu says it will store physical gold and silver in Switzerland and sell customers its tokens – each one a digital contract that grants the bearer direct ownership rights to a gram of either precious metal. The tokens would be freely traded with transactions validated and recorded on the Ethereum blockchain.

Read more: https://www.swissinfo.ch/eng/precious-metal-stablecoin-plugs-into-gold-frenzy/45903284Show more >

VOLUME: Tether is still the most used stablecoin by far, but is gaining more and more competition as new stablecoins continue to be introduced.
Get the full report on The Rise of Stablecoins from Coin Metri...cs and Bitstamp: https://bit.ly/2ZrjhjNShow more >

We are pleased to announce that Tether (USDt) is live on the OMG Network transport layer.
Read our full announcement ⬇️
https://tether.to/tether-usdt-integration-live-on-omg-network/

East Asia continues to be the world’s largest cryptocurrency market—but it isn’t just Bitcoin that’s driving the industry.

Stablecoin usage in the region is actually what is “off the charts,” accordin...g to a report published today by blockchain analysis firm Chainalysis.

The report, “East Asia: Pro Traders and Stablecoins Drive World’s Biggest Cryptocurrency Market,” claimed that 33% of all value transacted on-chain (meaning the value of transactions occurring on the blockchain) comes from stablecoins. And Tether is the biggest player: in June, it beat Bitcoin to be the most-received cryptocurrency by East Asia-based addresses.


https://decrypt.co/39393/tether-drives-east-asia-china-massive-crypto-marketShow more >

In the next few days, Tether Euro (EURt) ERC20 contract will be upgraded to enable wrapper functionality. This contract upgrade will be automatic and will not affect the total supply.
For more information, ...you can view the new EURt address here⬇️
https://etherscan.io/token/0xc581b735a1688071a1746c968e0798d642ede491Show more >

On the 9th of July 2020 The New York Court approved an investigation by the state's attorney general to look into numerous businesses behind Tether (stablecoin). At the time of writing Tether is almost hitting ...a $23b Market Cap, an increase of around $18b USD since the beginning of 2020.

Let's dive into this case to see what's it all about. First of all, I'm not a buttcoiner by any means but I'm missing some nuance on this subreddit when Bitcoin and other coins are going up a lot.

Tether founder Brock Pierce launched Tether in 2014 so traders could quickly enter or leave a position without being subject to the volatility of the crypto market. The stablecoin was meant to be backed 1:1 by real USD, meaning the price of the coin would be relatively stable. Around November 2018 however, the rumours of Tether not being backed 1:1 reached the former state attorney general of New York, Letitia James. She initiated an investigation in Tether and Bitfinex, but the two companies filed an appeal resulting in the halt of the investigation.With the approval of the New York Court on the 9th of July 2020 the case finally resumed against Tether and Bitfinex.

What did the former state attorney general of New York find out?

At this time in crypto there weren't a lot of banks willing to work with Tether and Bitfinex. Bitfinex therefore used a Panama based payments processor called Crypto Capital Corp. Crypto Capital worked with organizations associated with financial crime, money laundering and securities fraud. Crypto Capital worked like this: Set up a shell company to get a bank account and use it until it gets shut down. Then find another. Bitfinex’s parent company iFinex, suddenly had a black hole in its finances: $850 million of its funds were held up at Crypto Capital. When the money dissapeared, the respondents (Tether, Bitfinex) allegedly hid the losses through numerous, yet unexplained, tricks which lead to the believe Tether was printing Tether without it being backed by USD.A lawsuit filed by the Attorney General’s office included chat logs about funds that Crypto Capital had lost; the logs were between a Bitfinex representative and a Crypto Capital representative.

What happens on Jan 15th?

Bitfinex and Tether have till the 15th of January to submit documents to the New York state attorney general about their financial relationship. The shortfall of $850m was allegedly printed by Tether and given to Bitfinex to cover up the losses Crypto Capital created. It is speculated Bitfinex and Tether can't submit any documents without revealing their cover-up. This will result in the conclusion that Tether isn't backed 1:1 by USD by a lot of investors and will results in more investigation by the attorney general. Tether is unaudited at the moment, meaning no one checked the bankroll of Tether if there really is $23b USD there.

Source: https://www.reddit.com/r/CryptoCurrency/comments/ksdfne/why_tether_might_tank_the_crypto_market_on_jan/Show more >