Tag: Stablecoin

Fiat stablecoins are too deeply rooted in exchanges for algorithmic stablecoins to rise, according to some experts. Binance’s native stablecoin — Binance USD — was the third-largest stablecoin pegged to the United States dollar, minted by blockchain infrastructure platform, the Paxos Trust Company, through a transfer of technology agreement between the two firms. However, on…

Coinbase explained that it is now “more important than ever” to build an inflation-tracking stablecoin that negates poor monetary policy decisions of central banks. Crypto exchange Coinbase sees inflation-pegged “flatcoins” as one of four “critical” innovations that should be built on its recently launched layer-2 network Base. The other three include an on-chain reputation system,…

From forcing people to spend their money to making them save it, central banks around the world could soon use CBDCs to create a dystopian nightmare. During the financial crisis of 2007–2008, many people lost trust in traditional financial institutions and turned to alternative forms of currency, such as cryptocurrencies. It was a way for…

The bailout of Silicon Valley Bank provided a significant advantage to BTC bulls on the weekly $1.2 billion BTC options expiry. The rejection that followed Bitcoin’s rally to $26,500 may appear to be a victory for bears, but $24,750 on March 14 was the highest daily close in nine months. Furthermore, Bitcoin has gained 26.5% since…

The collapse of FTX led to a similar exodus from centralized exchanges, as users worried they may lose access to funds during crises. The collapse of Silicon Valley Bank saw investors loading their bags with USD Coin, along with an exodus of funds from centralized exchanges (CEXs) to decentralized exchanges (DEXs). Outflows from centralized exchanges often…

Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. Several USD Coin holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC’s collateral was held at Silicon Valley Bank. However, not all of them had success during panic…