The Solana-based digital asset exchange announced on Aug. 23 that it is planning the “most fair” token launch in the history of Solana. According to Cypher, part of the funds raised via the initial decentralized offering will be used “to sustain protocol development, pay for audits to relaunch the protocol, and initiate a treasury for…
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Num Finance received $1.5 million in a pre-seed funding round in May and is now issuing stablecoins in the local currencies of Argentina, Peru and Colombia. Argentina-based Num Finance has announced it has gone live with a n stablecoin pegged to the Colombian peso, the company announced Aug. 24 in an X post. The stablecoin…
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A Nigerian crypto trading platform, Patricia, announced on Aug. 18 that it had converted users’ outstanding funds to its U.S.-backed stablecoin known as “Patricia Token.” Some social media users have slammed the crypto trading platform’s unilateral decision to convert customer funds. Some critics have characterized the conversion of user funds as the Patrica team’s attempt…
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In a joint statement, Jeremy Allaire, CEO of Circle, and Brian Armstrong, CEO of Coinbase, announced the dissolution of the Centre Consortium. Consequently, Circle will take exclusive charge of the issuance and governance of USDC. Additionally, Coinbase has acquired an equity stake in Circle while signaling a stronger commitment to stablecoins.
Circle, Coinbase Dissolve USDC’s…
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Industry insiders claim Argentina is experiencing a rise in stablecoin buying as black market dollar market prices spiral upward. Per Globo, the nation is in the grips of the “worst political crisis in 21 years,” with hyperinflation eating up the value of the fiat peso. Last week, Bloomberg reported: “The official [dollar exchange] rate is…
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The DeFi ecosystem had another exploit of over $2 million on a stablecoin liquidity pool this past week, just weeks after the Curve Finance exploit. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. Over two…
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In an email dated August 17, Coinbase, a cryptocurrency exchange, revealed its decision to halt trading of Tether USDT, Dai DAI, and RAI stablecoins for Canadian users starting August 31. This surprising development comes shortly after Coinbase’s recent announcement of its complete expansion into the Canadian market, including trading the largest stablecoin globally, Tether. … Read…
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Bitcoin’s value briefly slipped below the $26K threshold at 5:50 p.m. Eastern Time on Thursday before swiftly rebounding past the $26,000 benchmark. Concurrently, the expansive crypto landscape experienced an 8% tumble against the U.S. dollar, teetering dangerously close to dropping below the $1 trillion threshold. Moreover, a staggering $1 billion in derivatives positions were met…
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According to the crypto exchange Bybit, the trading platform plans to list Paypal’s stablecoin soon. Amid Bybit’s announcement, Paypal’s PYUSD token has seen little movement as most of the supply is held by the contract and the Paxos Treasury. Dubai-Based Bybit Prepares to List Paypal’s New Stablecoin, PYUSD On Thursday, August 17, 2023, the Dubai-based…
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Crypto security firm and hardware wallet manufacturer, Ledger, announced its integration of Paypal payments for U.S. customers. This will allow Ledger Live users to buy bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC) within the app using Paypal. Ledger Enables Paypal Payments for US Customers to Streamline Crypto Purchases Within App On Wednesday,…
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