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Stablecoins
Tron's USDD Stablecoin Falls to Under 97 Cents, Lowest Level Since June
The algorithmic decentralized stablecoin modeled after Terra's now-defunct UST lost its dollar peg last month as the collapse of FTX dented investor confidence in digital assets.
UK Extends Crypto Tax Break for Investment Managers in Financial Reforms
Rishi Sunak’s government has already legislated to use stablecoins as a means of payment as he seeks to make the country a crypto hub.
South Korea’s Central Bank Wants to Oversee Stablecoins
The country joins other jurisdictions in proposing standards for stablecoin issuance.
Markets Will Trade Flat 'Until Trust Gets Re-Established': Analyst
The CoinDesk Market Index Excluding Stablecoins is up 4.4% this week after it lost nearly 300 points earlier this month on the FTX fallout and subsequent contagion effects. Floating Point Group Co-Founder and CEO John Peurifoy expects continued flat conditions, until "trust gets re-established...or people find technological ways to get a little bit more comfort."
Cardano DeFi Project Ardana Halts Development, Citing Funding, Timeline Concerns
The project closed a $10 million round led by now bankrupt crypto hedge fund firm Three Arrows Capital last year.
JPMorgan: The Shrinking Stablecoin Market Is Another Sign of Investors’ Exodus From Crypto
It’s difficult to see a sustained recovery in crypto prices without stablecoin outflows stopping, the report said.
US Sen. Gillibrand Says a Last-Ditch Stablecoin Bill May Still Emerge This Year
Sen. Kirsten Gillibrand, one of the most crypto-friendly Democrats in the Senate, said she hopes a regulatory bill will be introduced in the “next few weeks.”
TRX Momentarily Surges 4,000% on FTX; Tether Freezes $46M of USDT Held by FTX Following Law Enforcement Request
Tron network’s native TRX token momentarily surged some 4,000% from 6 cents to $2.50 on embattled crypto exchange FTX even though they are trading for 6 cents on other prominent exchanges, such as Binance and OKX. Separately, stablecoin issuer Tether froze $46 million of USDT held on Tron by FTX following a request from law enforcement. "The Hash" panel discusses the ripple effects amid fallout for FTX.
Tether Dominates Curve's 3pool Liquidity With DAI, USDC Accounting for Just 15%
Tether accounts for 85% of the total liquidity in Curve's 3pool. While the stablecoin is seeing some volatility, the price remains firmly near the 1:1 U.S. dollar peg,
Crypto.com Halts Solana USDC and USDT Deposits, Withdrawals
The crypto trading platform cited “recent industry events” in an email to users announcing the suspension.
