Stablecoin

Tether reports $2.85B net profit for Q4 2023

Stablecoin issuer Tether revealed a record-breaking net profit of $2.85B in its attestation report for the fourth quarter of 2023.

Circle partners with Nubank to offer USDC services in Brazil

Stablecoin issuer Circle has teamed up with fintech firm Nubank to make USDC more accessible to Brazilian clients.

OKX to delist 26 spot trading pairs

OKX has announced its plans to remove 26 spot trading pairs from its platform by November 10, citing that the flagged trading pairs no longer meet its listing criteria.

Tether grants $610M debt financing to Northern Data

Stablecoin issuer Tether has offered $610M worth of debt facility to Northern Data, a Bitcoin mining firm.

Tether names Paolo Ardoino as the new CEO

Stablecoin issuer Tether has undergone a change in leadership with the appointment of Paolo Ardoino as its new CEO.

Changpeng Zhao refutes rumors of Binance delisting stablecoins in Europe

Changpeng Zhao quashed the rumors of Binance delisting stablecoins by June 30, 2024, noting the comments made by the exchange’s representative were taken out of context.

Circle issues USDC on Polkadot network

Stablecoin issuer Circle has launched USD Coin on the Polkadot Asset Hub, allowing users to access their USDC holdings on DOT parachains via the XCM protocol.

Base to add native support for stablecoin USDC

Stablecoin issuer Circle announced its plans to launch USD Coin on Base, Coinbase’s layer-2 network.

Circle releases programmable Web3 wallets in public beta

Stablecoin issuer Circle has launched the beta version of its programmable Web3 wallets on the Ethereum, Polygon, and Avalanche blockchains.

PayPal launches Dollar-pegged stablecoin, PayPal USD

PayPal announced its plans to launch a new stablecoin, PayPal USD (PYUSD), on the Ethereum blockchain to bridge the gap between fiat and Web3 markets.

Circle CEO says yuan-backed stablecoins offer more benefits than CBDCs

In a recent interview, Circle CEO Jeremy Allaire claimed that stablecoins pegged to the Chinese Yuan are better at facilitating cross-country trades than Central Bank Digital Currencies (CBDCs).

Circle may issue a new stablecoin in Japan

In a recent interview, Circle CEO Jeremy Allaire said the company may issue a new stablecoin in Japan weeks after Japan’s landmark framework for the regulation of stablecoins came into effect.

Stablecoin issuer Tether aims to deploy USDT on Kava

Stablecoin issuer Tether will launch USDT on Kava, a layer-1 network, to increase its presence on multiple blockchains.

USDT loses peg following massive sell-off on Curve 3Pool

Tether lost its 1:1 peg to the US Dollar as traders swapped millions of USDT tokens for other stablecoins on Curve 3Pool.

Tether mints $1B USDT for future issuance on Ethereum

Stablecoin issuer Tether minted $1B worth of USDT tokens at Tether Treasury to meet future demands on the Ethereum network.

Circle drops US Treasury bonds from USDC Reserve Fund

Circle has ditched US Treasury bonds from its USDC reserves to protect the stablecoin from the ongoing US debt ceiling crisis.

Tether to commence Bitcoin mining operations in Uruguay

Stablecoin issuer Tether announced its plans to mine Bitcoin using renewable energy in Uruguay.

Stablecoin issuer Circle launches Euro Coin on Avalanche

USDC issuer Circle launched its Euro-backed stablecoin, Euro Coin, on the Avalanche blockchain.

Tether aims to diversify its reserves portfolio by investing in Bitcoin

Stablecoin issuer Tether announced its plans to strengthen its reserves by using a fraction of the firm's realized profits to purchase Bitcoin.

Tether denies exposure to Signature Bank

Tether CTO Paolo Ardoino denied exposure to Signature Bank following reports about the stablecoin issuer using the now-defunct bank to gain access to the US banking system. 

Binance.US halts OCBS and stablecoin pairs for BUSD

Binance.US temporarily suspended One Common Billing System (OCBS) transactions for Binance USD.

BUSD records $500M outflows following CFTC’s crackdown on Binance

BUSD’s net outflows exceeded $500M after the CFTC filed a lawsuit against Binance.

Tether CTO expects $700M profit by the end of Q1 2023

Tether CTO Paolo Ardoino expects the firm’s profits for the first quarter of 2023 to hit $700M. He also revealed that Tether currently holds $1.7B in excess reserves.

FTX wallets transfer $145M in stablecoins to crypto exchanges

Three crypto wallets belonging to FTX and Alameda Research have transferred $145M worth of Tether and USD Coin tokens to crypto exchanges.

Circle appoints Cross River Bank as commercial banking partner

Stablecoin issuer Circle has chosen Cross River Bank as its banking partner after the collapse of Silicon Valley Bank.

Binance to convert $1B worth of IRI funds to native crypto tokens

Binance CEO Changpeng Zhao said the exchange will convert nearly $1B worth of Industry Recovery Initiative funds into native crypto assets following recent turmoil in the stablecoin market.

Aave sets stablecoins’ LTV to zero on Avalanche V3

Aave has set the LTV of certain stablecoins on Avalanche V3 to zero to reduce the volatility risks caused by USDC’s price drop.

Binance and Coinbase halt USDC conversions

Crypto exchanges Binance and Coinbase have paused USDC conversions as the stablecoin fails to regain its USD peg.

Aave DAO votes in favor of removing BUSD from V2 lending market

The Aave DAO community approved the proposal to offboard Paxos-issued Binance USD from the Aave V2 Ethereum market.

CFTC Chair asserts Ethereum and Stablecoins are commodities

CFTC Chair Rostin Behnam said Ethereum and stablecoins are commodities during Wednesday's Senate Agricultural court hearing.

OKX confiscates 2M USDT from accounts suspected of market manipulation

OKX has seized 2M USDT from five suspicious accounts that allegedly manipulated the price of Celestial tokens.

Coinbase to suspend BUSD trading

Coinbase will remove support for trading Binance USD on March 13. The exchange claimed that BUSD no longer meets its listing standards.

Binance mints 50M TUSD tokens following regulatory action against BUSD

Binance has minted nearly 50M TrueUSD tokens after the NYDFS ordered Paxos to cease issuing Binance USD.

Binance CEO says crypto industry may switch to non-USD stablecoins

Changpeng Zhao claimed that the pressure from regulators may shrink the USD stablecoin market and cause the crypto industry to switch to non-USD stablecoins.

Aave community considers freezing BUSD reserves

The Aave community members are considering a proposal that seeks to freeze BUSD reserves on Aave V2 following the recent crackdown on the stablecoin by regulators.

Paxos under investigation by New York regulator

Stablecoin issuer Paxos is being probed by the New York Department of Financial Services.

BDO Italia reports Tether’s assets exceed its liabilities

BDO Italia reported that stablecoin issuer Tether ended 2022 with $67B in consolidated assets and $960M in excess reserves.

Tether CTO denies allegations of borrowing from Celsius

Paolo Ardoino, the Chief Technology Officer of Tether, denied reports about Tether receiving loans from Celsius. 

Crypto.com To Delist USDT For Canadian Users In Compliance With OSC’s Instructions

Crypto.com announced its plans to delist Tether (USDT) and suspend Tether-related transactions for its Canadian user base on January 31, 2023.

Judge Rules Celsius Owns Assets Held In Earn Accounts

Martin Glenn, the federal judge presiding over the Celsius bankruptcy case, ruled that the interest-bearing Earn accounts belong to Celsius.

Tether Plans To Reduce Secured Loans To Zero In 2023

Tether announced its plans to remove secured loans in 2023 in response to widespread concern about the stablecoin issuer’s growing number of loans.

Coinbase Encourages Users To Switch To USDC By Waiving USDT To USDC Conversion Fees

Coinbase asked clients to switch to USDC by introducing zero-fee Tether (USDT) to USD Coin (USDC) conversion.

Court Grants Celsius Extension To Submit Chapter 11 Reorganization Plan

Celsius has been granted an extension of its exclusivity period by the court. The company promises to utilize this period to develop plans for a stand-alone business and the benefits of its customers and stakeholders.

Alameda Research Withdrew $204M From FTX US Before Filing For Bankruptcy

Arkham Intelligence reported Alameda Research pulled out crypto assets worth $204M from FTX US before filing for Chapter 11 bankruptcy on November 11.

Credix Partners with Lender Clave to Open a $150M Stablecoin Credit Pool

Decentralized credit marketplace, Credix Finance, is partnering with digital lender, Clave, to bring debt capital markets on-chain with the launch of a $150M stablecoin credit pool. The credit facility will open in 2023.‍

Decline in Stablecoins’ Market Cap: Here’s What We Know

Several stablecoins have recently seen their market capitalization drop by a few billion. This may be due to various factors. But here’s what we know about the downtrend.

58% Of Hong Kong And Singapore Elites Own Crypto Assets

A study published by KPMG China and Aspen Digital revealed that a majority of Singapore and Hong Kong elites are increasingly investing in digital assets. 

Binance’s Stablecoin Hits All-Time High Market Share Of 15.48%

BUSD's stablecoin market share increased to its highest level at 15.48%. The token's market capitalization also grew by 22.88% within the past 2 months.

Coinbase Adds Zero-Commission USDC Trading Outside The US

Coinbase implemented a commission-free USDC trading service for non-USD currencies to encourage wider adoption of USDC.

Lightning Labs Rollout Software for Minting & Transfer of Assets on the Bitcoin Blockchain

Developers may now mint, send, and receive assets on the bitcoin blockchain as Lightning Labs releases the test version of its Taro daemon. Taro will also have additional functionalities, including universes.

State Regulators Object To Celsius' Plan Of Selling Stablecoin Holdings

The Texas and Vermont regulators raised concerns over Celsius' request to sell its $23M worth of stablecoin assets to generate liquidity for its operations.

Bitcoin Policy Institute Recommends USA To Reject CBDCs

The report published by Bitcoin Policy Institute addressed the structural problems prevalent in Central Bank Digital Currencies and argued that Bitcoin and stablecoins serve as better alternatives to CBDCs.

Binance Seeks To Resume Operations In Japan

After suspending services in Japan in 2018, Binance now seeks a license to resume its operations. Binance's renewed interest in operating in Japan is due to the nation softening its stance on crypto.

Court Orders Stablecoin Issuer Tether To Prove USDT Backing

US Judge has ordered Tether to provide financial records on the backing of USDT as part of a bitcoin inflation conspiracy case. The Judge also dismissed Tether’s motion to block the release as the information is vital.

Draft US Bill Seeks To Ban Algorithmic Stablecoins For 2 Years

The US House of Representatives drafted a bill that intends to place a temporary 2-year ban on algorithmic stablecoins such as TerraUSD.

WazirX Joins Binance To Delist USDC And Other Stablecoins

WazirX has announced the delisting of three stablecoins: USDC, USDP, and TUSD, and their auto-conversion to Binance USD. Like Binance, WazirX believes this move would help enhance liquidity and capital efficiency.

Celsius Seeks Court Approval To Sell Its Stablecoin Holdings

Celsius Network filed a request to sell its stablecoin assets in order to acquire funds for its operations.

Binance To Stop Supporting USDC And Other Stablecoins By September 29

In the coming weeks, Binance would stop supporting USDC and other stablecoins in a bid to increase liquidity. This doesn't mean that they are delisting these tokens as users can still deposit and withdraw them.

Latest News

Changpeng Zhao refutes rumors of Binance delisting stablecoins in Europe

Changpeng Zhao quashed the rumors of Binance delisting stablecoins by June 30, 2024, noting the comments made by the exchange’s representative were taken out of context.

Circle issues USDC on Polkadot network

Stablecoin issuer Circle has launched USD Coin on the Polkadot Asset Hub, allowing users to access their USDC holdings on DOT parachains via the XCM protocol.

Base to add native support for stablecoin USDC

Stablecoin issuer Circle announced its plans to launch USD Coin on Base, Coinbase’s layer-2 network.

Circle releases programmable Web3 wallets in public beta

Stablecoin issuer Circle has launched the beta version of its programmable Web3 wallets on the Ethereum, Polygon, and Avalanche blockchains.

PayPal launches Dollar-pegged stablecoin, PayPal USD

PayPal announced its plans to launch a new stablecoin, PayPal USD (PYUSD), on the Ethereum blockchain to bridge the gap between fiat and Web3 markets.

Circle CEO says yuan-backed stablecoins offer more benefits than CBDCs

In a recent interview, Circle CEO Jeremy Allaire claimed that stablecoins pegged to the Chinese Yuan are better at facilitating cross-country trades than Central Bank Digital Currencies (CBDCs).

Circle may issue a new stablecoin in Japan

In a recent interview, Circle CEO Jeremy Allaire said the company may issue a new stablecoin in Japan weeks after Japan’s landmark framework for the regulation of stablecoins came into effect.

Stablecoin issuer Tether aims to deploy USDT on Kava

Stablecoin issuer Tether will launch USDT on Kava, a layer-1 network, to increase its presence on multiple blockchains.

USDT loses peg following massive sell-off on Curve 3Pool

Tether lost its 1:1 peg to the US Dollar as traders swapped millions of USDT tokens for other stablecoins on Curve 3Pool.

Tether mints $1B USDT for future issuance on Ethereum

Stablecoin issuer Tether minted $1B worth of USDT tokens at Tether Treasury to meet future demands on the Ethereum network.

Circle drops US Treasury bonds from USDC Reserve Fund

Circle has ditched US Treasury bonds from its USDC reserves to protect the stablecoin from the ongoing US debt ceiling crisis.

Tether to commence Bitcoin mining operations in Uruguay

Stablecoin issuer Tether announced its plans to mine Bitcoin using renewable energy in Uruguay.

Stablecoin issuer Circle launches Euro Coin on Avalanche

USDC issuer Circle launched its Euro-backed stablecoin, Euro Coin, on the Avalanche blockchain.

Tether aims to diversify its reserves portfolio by investing in Bitcoin

Stablecoin issuer Tether announced its plans to strengthen its reserves by using a fraction of the firm's realized profits to purchase Bitcoin.

Tether denies exposure to Signature Bank

Tether CTO Paolo Ardoino denied exposure to Signature Bank following reports about the stablecoin issuer using the now-defunct bank to gain access to the US banking system. 

Binance.US halts OCBS and stablecoin pairs for BUSD

Binance.US temporarily suspended One Common Billing System (OCBS) transactions for Binance USD.

BUSD records $500M outflows following CFTC’s crackdown on Binance

BUSD’s net outflows exceeded $500M after the CFTC filed a lawsuit against Binance.

Tether CTO expects $700M profit by the end of Q1 2023

Tether CTO Paolo Ardoino expects the firm’s profits for the first quarter of 2023 to hit $700M. He also revealed that Tether currently holds $1.7B in excess reserves.

FTX wallets transfer $145M in stablecoins to crypto exchanges

Three crypto wallets belonging to FTX and Alameda Research have transferred $145M worth of Tether and USD Coin tokens to crypto exchanges.

Circle appoints Cross River Bank as commercial banking partner

Stablecoin issuer Circle has chosen Cross River Bank as its banking partner after the collapse of Silicon Valley Bank.

Binance to convert $1B worth of IRI funds to native crypto tokens

Binance CEO Changpeng Zhao said the exchange will convert nearly $1B worth of Industry Recovery Initiative funds into native crypto assets following recent turmoil in the stablecoin market.

Aave sets stablecoins’ LTV to zero on Avalanche V3

Aave has set the LTV of certain stablecoins on Avalanche V3 to zero to reduce the volatility risks caused by USDC’s price drop.

Binance and Coinbase halt USDC conversions

Crypto exchanges Binance and Coinbase have paused USDC conversions as the stablecoin fails to regain its USD peg.

Aave DAO votes in favor of removing BUSD from V2 lending market

The Aave DAO community approved the proposal to offboard Paxos-issued Binance USD from the Aave V2 Ethereum market.

CFTC Chair asserts Ethereum and Stablecoins are commodities

CFTC Chair Rostin Behnam said Ethereum and stablecoins are commodities during Wednesday's Senate Agricultural court hearing.

OKX confiscates 2M USDT from accounts suspected of market manipulation

OKX has seized 2M USDT from five suspicious accounts that allegedly manipulated the price of Celestial tokens.

Coinbase to suspend BUSD trading

Coinbase will remove support for trading Binance USD on March 13. The exchange claimed that BUSD no longer meets its listing standards.

Binance mints 50M TUSD tokens following regulatory action against BUSD

Binance has minted nearly 50M TrueUSD tokens after the NYDFS ordered Paxos to cease issuing Binance USD.

Binance CEO says crypto industry may switch to non-USD stablecoins

Changpeng Zhao claimed that the pressure from regulators may shrink the USD stablecoin market and cause the crypto industry to switch to non-USD stablecoins.

Aave community considers freezing BUSD reserves

The Aave community members are considering a proposal that seeks to freeze BUSD reserves on Aave V2 following the recent crackdown on the stablecoin by regulators.

Paxos under investigation by New York regulator

Stablecoin issuer Paxos is being probed by the New York Department of Financial Services.

BDO Italia reports Tether’s assets exceed its liabilities

BDO Italia reported that stablecoin issuer Tether ended 2022 with $67B in consolidated assets and $960M in excess reserves.

Tether CTO denies allegations of borrowing from Celsius

Paolo Ardoino, the Chief Technology Officer of Tether, denied reports about Tether receiving loans from Celsius. 

Crypto.com To Delist USDT For Canadian Users In Compliance With OSC’s Instructions

Crypto.com announced its plans to delist Tether (USDT) and suspend Tether-related transactions for its Canadian user base on January 31, 2023.

Judge Rules Celsius Owns Assets Held In Earn Accounts

Martin Glenn, the federal judge presiding over the Celsius bankruptcy case, ruled that the interest-bearing Earn accounts belong to Celsius.

Tether Plans To Reduce Secured Loans To Zero In 2023

Tether announced its plans to remove secured loans in 2023 in response to widespread concern about the stablecoin issuer’s growing number of loans.

Coinbase Encourages Users To Switch To USDC By Waiving USDT To USDC Conversion Fees

Coinbase asked clients to switch to USDC by introducing zero-fee Tether (USDT) to USD Coin (USDC) conversion.

Court Grants Celsius Extension To Submit Chapter 11 Reorganization Plan

Celsius has been granted an extension of its exclusivity period by the court. The company promises to utilize this period to develop plans for a stand-alone business and the benefits of its customers and stakeholders.

Alameda Research Withdrew $204M From FTX US Before Filing For Bankruptcy

Arkham Intelligence reported Alameda Research pulled out crypto assets worth $204M from FTX US before filing for Chapter 11 bankruptcy on November 11.

Credix Partners with Lender Clave to Open a $150M Stablecoin Credit Pool

Decentralized credit marketplace, Credix Finance, is partnering with digital lender, Clave, to bring debt capital markets on-chain with the launch of a $150M stablecoin credit pool. The credit facility will open in 2023.‍

Decline in Stablecoins’ Market Cap: Here’s What We Know

Several stablecoins have recently seen their market capitalization drop by a few billion. This may be due to various factors. But here’s what we know about the downtrend.

58% Of Hong Kong And Singapore Elites Own Crypto Assets

A study published by KPMG China and Aspen Digital revealed that a majority of Singapore and Hong Kong elites are increasingly investing in digital assets. 

Binance’s Stablecoin Hits All-Time High Market Share Of 15.48%

BUSD's stablecoin market share increased to its highest level at 15.48%. The token's market capitalization also grew by 22.88% within the past 2 months.

Coinbase Adds Zero-Commission USDC Trading Outside The US

Coinbase implemented a commission-free USDC trading service for non-USD currencies to encourage wider adoption of USDC.

Lightning Labs Rollout Software for Minting & Transfer of Assets on the Bitcoin Blockchain

Developers may now mint, send, and receive assets on the bitcoin blockchain as Lightning Labs releases the test version of its Taro daemon. Taro will also have additional functionalities, including universes.

State Regulators Object To Celsius' Plan Of Selling Stablecoin Holdings

The Texas and Vermont regulators raised concerns over Celsius' request to sell its $23M worth of stablecoin assets to generate liquidity for its operations.

Bitcoin Policy Institute Recommends USA To Reject CBDCs

The report published by Bitcoin Policy Institute addressed the structural problems prevalent in Central Bank Digital Currencies and argued that Bitcoin and stablecoins serve as better alternatives to CBDCs.

Binance Seeks To Resume Operations In Japan

After suspending services in Japan in 2018, Binance now seeks a license to resume its operations. Binance's renewed interest in operating in Japan is due to the nation softening its stance on crypto.

Court Orders Stablecoin Issuer Tether To Prove USDT Backing

US Judge has ordered Tether to provide financial records on the backing of USDT as part of a bitcoin inflation conspiracy case. The Judge also dismissed Tether’s motion to block the release as the information is vital.

Draft US Bill Seeks To Ban Algorithmic Stablecoins For 2 Years

The US House of Representatives drafted a bill that intends to place a temporary 2-year ban on algorithmic stablecoins such as TerraUSD.

WazirX Joins Binance To Delist USDC And Other Stablecoins

WazirX has announced the delisting of three stablecoins: USDC, USDP, and TUSD, and their auto-conversion to Binance USD. Like Binance, WazirX believes this move would help enhance liquidity and capital efficiency.

Celsius Seeks Court Approval To Sell Its Stablecoin Holdings

Celsius Network filed a request to sell its stablecoin assets in order to acquire funds for its operations.

Binance To Stop Supporting USDC And Other Stablecoins By September 29

In the coming weeks, Binance would stop supporting USDC and other stablecoins in a bid to increase liquidity. This doesn't mean that they are delisting these tokens as users can still deposit and withdraw them.