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Stablecoin
Binance Transferred $1.8B in Stablecoin Collateral to Hedge Funds Last Year: Forbes
Cryptocurrency exchange Binance moved $1.8 billion of collateral meant to back its customers' stablecoins to hedge funds last year, according to Forbes. In a statement sent to CoinDesk, a Binance spokesperson said in part that the transactions identified by Forbes relate to internal wallet management and did not affect the collateralization of user assets. Forbes Director of Data and Analytics Javier Paz discusses the key takeaways from the article.
Coinbase to Suspend Trading for Binance USD Stablecoin
Coinbase will suspend trading of Binance USD (BUSD) starting March 13 because the stablecoin doesn’t meet its listing standards, the U.S. cryptocurrency exchange announced in a tweet Monday. The suspension affects Coinbase.com, Coinbase Pro, Coinbase Exchange and Coinbase Prime. Users will still be able to access their BUSD funds and withdraw them at any time, Coinbase said. Lumida CEO and co-founder Ram Ahluwalia shares his reaction and outlines potential regulatory implications.
Stablecoin Lender Liquity's Token Rises 35% on Binance Listing
LQTY hit a 10-month high of $1.82 as trading volume surged by 382%.
TrueUSD Becomes 5th-Largest Stablecoin as Binance Mints $130M TUSD in a Week
Blockchain data shows crypto exchange giant Binance has been relying increasingly on TUSD following a crackdown on its Binance USD stablecoin by U.S. regulators.
DeFi Giant MakerDAO Rejects $100M Loan to Cogent Bank
The rejection follows less than a year after Maker approved a similarly structured loan to Huntingdon Valley Bank.
French Police Arrest Duo Involved in Platypus Crypto Exploit
Flash loan exploit drained protocol of over $9 million in assets and knocked Platypus USD (USP) off its peg.
DeFi Protocol Platypus to Repay at Least 63% of User Funds After $9M Hack
The Avalanche-based protocol worked with crypto exchange Binance to identify the exploiter responsible for last week's attack.
Frax Finance Votes to Fully Collateralize Its $1B Stablecoin
The vote is a step for Frax’s native stablecoin frxUSD to retire its algorithmic element.
Binance Shifts to ‘Semi-Automated’ Process to Manage Reserves of Tokens It Issues
Reserves for these tokens had previously been mixed with customer funds.
