The world’s largest cryptocurrency exchange by global trade volume, Binance, has announced it is discontinuing support for the stablecoin asset BUSD. The trading platform is encouraging users to swap their BUSD as Binance gradually phases out BUSD markets. BUSD Support Ending on Binance, Users Told to Swap Tokens On August 31, Binance disclosed BUSD support…
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Over the past 30 days, nine of the leading ten stablecoins by market cap experienced declines, with BUSD witnessing the most significant dip, plunging 16.6%. As we wrapped up August, the combined value of these stablecoins hangs just below the $125 billion threshold, continuing a trend of consecutive monthly decreases this year. Major Supply Drops…
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In a recent report released on Tuesday, undisclosed sources detailed that the firm behind the top stablecoin in market cap, tether (USDT), is now banking with Britannia Bank & Trust. In the past month, tether’s supply has dipped by 1.3%, leaving 82.85 billion USDT in circulation. Undisclosed Sources Say Tether Is Working With a Privately…
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In a revealing report published on August 24, 2023, a significant oversight by the Drug Enforcement Agency (DEA) was brought to light. In their endeavor to manage assets confiscated from a nefarious enterprise, the DEA mistakenly funneled funds to an unrelated scammer, falling prey to a notorious crypto dusting scam. Blockchain Blunder: DEA Mistakenly Transfers…
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Stablecoin issuer Tether posts its total assets at $86.1 billion as it maintains its leading market share despite growing competition and uncertain regulatory conditions. In the company’s reserve report, while total assets stood at $86.1 billion, its liabilities amounted to $82.8 billion. Liabilities include user assets held in USDT across multiple networks…. Read More: Tether…
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Binance.US, now a crypto-only platform for two months, has partnered with crypto payments company MoonPay to allow users to buy and sell crypto using the US dollar-pegged stablecoin Tether (USDT). On August 22, the crypto exchange declared USDT the new “base asset” for all transactions. This collaboration with MoonPay follows Binance.US’s recent banking issues, leading…
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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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In just over 25 days since its listing debut on July 24, 2023, the cryptocurrency known as worldcoin (WLD) has experienced a notable decline of 29% when measured against the U.S. dollar. Notably, within the last week alone, it saw a decrease of more than 11%. Interestingly, within the past 24 hours, WLD showcased a…
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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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