House Financial Services Committee Chairwoman Maxine Waters and Ranking Member Patrick McHenry have been working to reach an agreement on the stablecoin legislation. In addition to addressing what unfolded with Terra, the bill would allow banks and nonbanks to issue stablecoins. Bank issuers...
British consumers face an 80 per cent increase in household fuel bills this autumn, regulators announced in what they acknowledged was "devastating news". The UK inflation rate is already in double figures and is tipped to reach an eye-watering 18.6 per cent, the highest for half a century....
Binance’s move to toss USD Coin (USDC) off its platform is a bold gambit to boost the fortunes of its own stablecoin, Binance USD (BUSD) — the third-biggest stablecoin by market cap, following USDC in second place and Tether in the top spot. And the fact that it comes amid reports...
Hut 8 Mining Corp. (Nasdaq: HUT), one of North America’s largest, innovation-focused digital asset mining pioneers, supporting open and decentralized systems since 2018, increased its Bitcoin holdings by 328 in the period ending June 30. With 7,406 unencumbered Bitcoin in reserve, Hut 8...
Paolo Ardoino, the chief technology officer (CTO) of Bitfinex and its stablecoin Tether (USDT), has reacted to reports that traditional hedge funds have joined retail traders in shorting USDT. The Wall Street Journal (WSJ) reported Monday that a growing number of hedge funds had opened USDT short...
The Markets in Crypto-Assets (MiCA) framework is a Crypto-Assets framework meant to dramatically simplify how crypto businesses can expand through the 27-nation European Union Market. Most importantly it deals with stablecoins, a cryptocurrency designed to hold its value, most notably...
The latest crypto market rout has led to heightened anxiety among investors, accompanied by layoffs at Coinbase and other big industry players. Now fresh signs are emerging that the nervousness is hitting Tether, the issuer of the most popular stablecoin. Tether's USDT has a different financial...
Last month, algorithmic stablecoin UST lost its peg to the US dollar and collapsed along with the entire Terra (LUNA) ecosystem, wiping out $40 billion in crypto market capitalization. Prior to the UST meltdown, the Tron decentralized autonomous organization worked in conjunction with other...
Sen. Cynthia Lummis (R-Wyo.) and Sen. Kirsten Gillibrand (D-Ny.) have revealed their new bipartisan bill regulating the crypto industry dubbed the Crypto Bill. Their bill would liberate small-scale purchases of goods and services from the mire of tax implications by making transactions of less...
Aggregate stablecoin supplies declined by a total of $8.4 billion in the last month. This has been the largest decline in history. This is undoubtedly in part due to the Terra Luna UST stablecoin drama still dominating the news cycle. Meanwhile, FTX dropped massive news that may affect the future...
The Luna Foundation Guard revealed Monday that it had spent almost all of its Bitcoin reserves in its failed attempt to restore UST's peg. LFG said that it plans to use its remaining reserves, worth around $81 million in total, to compensate UST's remaining users, starting with the smallest...
On this episode, we're joining Celsius CEO Alex Mashinsky to discuss the aftermath of Terra Luna and it's stablecoin UST. Will the crypto market recover quickly or face more turmoil due to one of the worst weeks in crypto?
Guest: Alex Mashinsky, CEO of Celsius
Celsius website ...
