Stablecoin


Policy

Former CFTC Chair: Here's How SEC and CFTC Can Work Together to Regulate Crypto

Forming a self-regulatory governing committee “might be a way to develop standards for this market,” Timothy Massad said on CoinDesk TV’s “First Mover.”

(Former CFTC Chairman and Harvard University Research Fellow Timothy Massad, CoinDesk TV)

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Former CFTC Chair on Crypto and Stablecoin Regulation

Former CFTC Chairman Timothy Massad discusses why the current regulatory framework is “inadequate” and his concerns over the tug of war between SEC and the underfunded CFTC. Plus, what the Biden Administration can do for stablecoin regulation.

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Tether Slashing Commercial Paper Holdings, New Auditor Confirms

BDO Italia has reaffirmed stablecoin issuer Tether’s consolidated reserves report that showed a 58% quarterly decline in commercial paper holdings to $8.5 billion as of June 30. “The Hash” hosts discuss the BDO report and what it suggests about Tether and the current state of stablecoins.

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Finance

HUSD Stablecoin Returns to $1 Peg After Liquidity Problems

The HUSD team explained that the de-peg was caused by a market maker account that was closed, causing liquidity issues.

(eswaran arulkumar/Unsplash)

Finance

New Auditor for Stablecoin Issuer Tether Confirms Slashing of Commercial Paper Holdings

BDO Italia said the holdings fell 58% to $8.5 billion at the end of the most recent quarter.

Tether Chief Technology Officer Paolo Ardoino.  (Twitter/Bitfinex, modified by CoinDesk)

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Stablecoin Issuer Tether Taps New Accounting Firm

Stablecoin issuer Tether has tapped BDO Italia to take over from MHA Cayman on its regular attestation reports. It said it plans to publish the reports every month rather than once a quarter. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the details.

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Markets

Cash-Backed HUSD Stablecoin Loses Peg, Drops to 92 Cents

The stablecoin is trading as low as 89 cents against USDC on Curve Finance.

HUSD has dropped below its 1:1 peg to the U.S. dollar. (Josh Appel/Unsplash)

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DeFi Platform Acala’s Stablecoin Plunges After Hackers Exploit Bug

Polkadot-based decentralized finance (DeFi) platform Acala’s native stablecoin, aUSD, depegged on Sunday, plummeting 99% after hackers exploited a bug in a newly deployed liquidity pool to mint 1.28 billion tokens. "The Hash" team discusses the implications for the state of stablecoins, open finance, and regulation.

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