South Africa’s Old Mutual Wealth and financial services provider Inves Capital recently revealed plans to inject liquidity into the ZARP stablecoin network. Inves Capital’s managing director said “crypto is entering a new phase” of growth and ZARP is set to “play a central role.” ‘Substantial Liquidity’ to Be Injected Into the ZARP Network South African…
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Moody’s Analytics will use machine learning and a host of indicators to compile and analyze large-cap stablecoins and identify probable depeggings. Moody’s Analytics is launching a new stablecoin service that will use AI to predict probable depeggings “in a 24-hour time horizon” while providing real-time insights about stablecoin issuers’ liquidity and stability. The stablecoin market…
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It’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators’ thinking. A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE).…
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The decentralized finance (defi) protocol Aave’s stablecoin asset called GHO has been struggling to keep its peg to the U.S. dollar. While it is coasting along at $0.966 per unit at the time of writing, five days ago it tapped an all-time low at $0.917 per coin. Aave’s Liquidity Committee aims to mitigate the issue…
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PayPal / Source: Adobe The United States Securities and Exchange Commission (SEC) has issued a subpoena to global payment giant, PayPal over its newly launched stablecoin, PYUSD. On Nov 2, PayPal Holdings announced that it received a subpoena from the enforcement arm of the SEC tied to its U.S. dollar stablecoin according to a Reuters…
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In September 2023, Tether also invested an undisclosed amount in Northern Data in a move backing AI initiatives. Tether (USDT) stablecoin issuer is raising the bet on Bitcoin (BTC) mining by issuing a major debt facility to German-based BTC mining company Northern Data AG. Northern Data AG has secured a 575 million euro ($610 million)…
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Two key BTC supply metrics show conflicting signals on whether a retracement will occur before the Bitcoin halving. Bitcoin (BTC) is at 17-month highs with just 164 days until the next Bitcoin halving event, alongside anticipation of a spot Bitcoin exchange-traded fund (ETF) approval in the coming months. Yet, amid Bitcoin’s 106.38% year-to-date gains, the stablecoin supply rate…
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Stablecoin issuer Circle sent emails to customers stating that individual consumer accounts would be phased out. Stablecoin issuer Circle will close out consumer or individual accounts on November 30, according to emails received by Circle customers on October 31. In an email to Cointelegraph, the stablecoin issuer confirmed that it is closing the accounts but…
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The stablecoin ecosystem has evolved significantly over the years, with new regulations and models shaping the landscape. The rise of digital currencies, exemplified by Bitcoin (BTC), brought a groundbreaking shift in the financial landscape. However, it also brought to light a critical challenge: price volatility. Bitcoin and many other early cryptocurrencies exhibited extreme price fluctuations,…
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Daniel Shin claimed he and Do Kwon parted ways before the collapse of the Terra/Luna ecosystem was imminent and that he had nothing to do with it. The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South…
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