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Tag: Stablecoins

A stablecoin is a fiat-backed cryptocurrency that has a value pegged to another stable asset, such as the US dollar.

How Telegram’s Tether Integration Boosts Crypto Adoption

In Brief: Telegram has added support for Tether (USDT), the world’s largest stablecoin, on its wallet bot. Users can now send and receive USDT directly from their chats, as well as buy, swap, and make P2P trades with the stablecoin. Telegram chose to integrate USDT on Tron because of its compatibility with its wallet bot and its low fees and fast transactions. The integration of USDT on Telegram boosts crypto adoption by bringing...

$USDT, Altcoins, Crypto adoption, Front page, Main, Stablecoins, Telegram, TON

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USDC Stablecoin Recovers Dollar Peg

In Brief: Bitcoin’s price has surpassed $23,000 due to recent banking issues in the United States, leading to an increase in demand for cryptocurrency. USDC, a stablecoin, has regained its dollar peg after experiencing a period of chaos due to a banking problem in Silicon Valley. The correlation between US banking problems and the surge in cryptocurrency prices raises questions about the future of the traditional banking system. USDC...

$USDC, Cryptocurrencies, Front page, Main, Stablecoins

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USDC Stablecoin Depegs Following Silicon Valley Bank Collapse

In brief: USDC stablecoin loses its peg to the U.S. dollar and drops as low as $0.88 following the collapse of Silicon Valley Bank. Tether maintains its peg while other stablecoins see minor drops. Circle’s $3.3 billion held at Silicon Valley Bank amounts to 8.25% of its $40 billion reserves. Frax, a decentralized stablecoin partly backed by USDC, also depreciates to $0.90. The fallout from the collapse of Silicon Valley Bank...

$FRAX, $USDC, Bankruptcy, Front page, Main, Silicon Valley Bank (SVB), Stablecoins

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Crypto Market – March 10, 2023

Cryptocurrency prices fell after Silvergate, a bank that has been at the center of the industry’s growth, made a decision to shut down. The liquidation of Silvergate Capital (SI), a crucial U.S. banking partner, could mean for the crypto asset class’ access to dollars. The wider market capitalization of all cryptocurrencies fell below $1 trillion for the first time since January 19. Bitcoin is down 8.3% over the day, trading at $19,900. Bitcoin...

$AVAX, $BNB, $DOGE, $SOL, $XRP, Bitcoin, Cardano, COSMOS, Ethereum, Polygon, Stablecoins

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Crypto Market – March 3, 2023

Bitcoin, Ethereum, and other cryptocurrencies have declined during the last twenty-four hours owing to US manufacturing data and persistent worries over the banking access of crypto firms. The aftermath of Silvergate also hindered expansion. $22,300 is the lowest Bitcoin price in the last two weeks. Bitcoin has a 24-hour volume of $26,182,758,866 USD and is trading at $22,349.28 USD at the moment of writing. Overnight, Bitcoin lost 4.35 percent,...

$AVAX, $BNB, $DOGE, $SOL, $XRP, Bitcoin, Cardano, COSMOS, Crypto market, Cryptocurrencies, Ethereum, Polygon, Stablecoins

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Mastercard to Enable USDC Payments through Immersve Alliance

Mastercard has announced a new partnership with Immersve to enable payments using USDC, a stablecoin pegged to the US dollar, on its network. The goal of this alliance is to make cross-border payments faster and more efficient while also making them more stable. With this partnership, Mastercard hopes to use blockchain technology to give its customers more secure and faster ways to pay. The use of USDC also gives these transactions a stable...

Altcoins, Blockchain, Cryptocurrencies, Front page, Main, Mastercard, Stablecoins

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Tether Transfers Millions to Foreign Banks

According to Forbes, Tether moved $37 billion of its reserves to an offshore bank called Capital Union in 2021 after settling with the New York Attorney General’s office over claims it had misrepresented its finances. Tether has also asked Ansbacher, another Bahamian bank, to hold some of its reserves. The company has also been using Cantor Fitzgerald, a big New York financial services company, to hold U.S. Treasury bills. But Tether has...

$USDT, Cryptocurrencies, Front page, Main, Stablecoins

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What happened to BUSD and the price of cryptocurrencies?

The recent news about the blocking of BUSD in the United States has not had a major impact on the price of cryptocurrencies. $BUSD is a stablecoin backed by US dollars, and also one of the most popular options for those looking to invest in cryptocurrencies safely. The blockade affected Paxos Trust Company -the company in charge of issuing BUSD-, and indirectly the cryptocurrency exchange platform Binance, one of the main exchanges...

$BUSD, Binance, Press release, Stablecoins

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Djed, Cardano Algorithmic Stablecoin Launches

The highly anticipated algorithmic stablecoin on Cardano, Djed, is now live. And scammers did not miss this opportunity. When UST, the algorithmic stablecoin in the Terra ecosystem, went down, it made people feel bad about this type of stablecoin. This crash last year led the cryptocurrency industry into a bear market, with investors losing billions. The COTI team, with the help of Input Output Global (the creators of Cardano),...

$ADA, $DJED, Altcoins, Cardano, Cryptocurrencies, Front page, Main, Stablecoins

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4 billion stablecoins outflow from CEXs

Stablecoins have been leaving exchanges in large numbers over the past month. Since November 4, stablecoin balances have dropped by a net of $4.67 billion. This represents an 11.4% decrease in exchange stablecoin balances. During the same time period, net Ether outflows from exchanges added up to $5.125 billion, which is 13.1% of the total Ether held on centralized exchanges (CEXs). In total, $9.8 billion in stablecoins and Ether have been...

Binance, Cryptocurrencies, Exchanges, Front page, Main, News, Stablecoins

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