News
A significant number of stablecoins lost their dollar backup due to the FTX situation, although most are already responding well to the current market stability. Reduction in the market value of digital currencies is not the sole impact of the recent FTX-inspired pollution. The crypto market instability, which is majorly
News
A New York judge has ordered stablecoin issuer Tether to show financial documents that indicate the dollar backing of USDT . This development follows a lawsuit that alleges the Bitfinex-owned firm manipulated the crypto market. Tether has been ordered to release “general ledgers, balance sheets, income statements, cash-flow statements, and profit
News
It has been a week of free fall for LUNA, the native token of the Terra network, as it lost up to 99.7% of its value. The coin is down from $62 at the beginning of the week and $120 in mid-April. This change in market dynamics has also
News
Tether (USDT) slightly lost its dollar peg in the early hours of Thursday, snapping to 97 cents and back to 98 cents. This development came as Bitcoin, the largest cryptocurrency exchange based on market circulation, briefly lost its $27k support level and tanked to $25,400. Despite Tether’s CTO,
Opinion
On April 4, 2022, the United Kindom unveiled several strategies in a bid to make the nation the global crypto technology hub. These initiatives cut across the regulation of stablecoins, as well as the Royal minting of a non-fungible token (NFT), with the support of the Financial Conduct Authority, of
Bitcoin
The United States Office of the Comptroller of the Currency (OCC) has published a letter clarifying that national banks and federal savings associations can now hold reserve funds for stablecoin issuers in the country. Stablecoins refer to cryptocurrencies pegged to another asset such as a commodity or fiat currency like
Bitcoin
The European Union (EU) will introduce a new set of rules within the next four years to promote quicker and cheaper cross-border payments through the use of blockchain technology and cryptocurrency. This development was revealed in two (2) documents by the European Commission where it sets out its strategy to