Stablecoin

MakerDAO Co-Founder Dies At 29 In Puerto Rico

MakerDAO Co-Founder Dies At 29 In Puerto Rico

Last week, Nikolai Mushegian, the MakerDAO co-founder and the decentralized stablecoin Dai, was found dead in the city of Puerto Rico. According to local media reports, the co-founder of the crypto lending platform died due to drowning as the sea currents on the Condado beach dragged him down. By the time his body was rescued in San Juan, Mushegian did not have any vital signs. The incident It should be noted that Condado beach is regarded as one of the most dangerous places for swimmers in the world, as it reports indicated that eight people lost their lives there last…
Read More
IRS Updates Instructions Related To Crypto For Tax Filing

IRS Updates Instructions Related To Crypto For Tax Filing

The 2022 draft instructions applicable to tax form 1040 have a crypto section and there were some updates made to it by the Internal Revenue Service (IRS). The tax agency stated that digital assets would now also include virtual currencies, such as stablecoins and cryptocurrencies, and non-fungible tokens (NFTs). New IRS instructions The draft instructions applicable to tax form 1040 for 2022 were released last week by the Internal Revenue Service (IRS). The tax form that individuals use for filing income tax returns in the United States is called 1040. There are a number of changes related to cryptocurrencies in…
Read More
Stablecoin Markets Shift With Binance Launching USDC Conversions

Stablecoin Markets Shift With Binance Launching USDC Conversions

Binance has begun the conversion of TrueUSD, Paxos’ Pax Dollar and Circle’s USDC holdings into its own stablecoin, Binance USD (BUSD) and the stablecoin markets are already feeling the impact of this move. Since Binance announced that it would no longer offer support for competing stablecoins on its platform, which is the largest exchange in the world in trading volume, the market cap of the USDC stablecoin has declined by 5%. Moreover, there has also been a rise of 93% in the outflows of the USDC stablecoin from the exchange, which means the number of stablecoins that have left the…
Read More
Tether Asks Court For Removal Of Roche Freedman From Lawsuit

Tether Asks Court For Removal Of Roche Freedman From Lawsuit

The founding partner of crypto boutique litigation company, Roche Freedman LLP, attorney Kyle Roche had recently withdrawn from several class-action lawsuits that the company had initiated. The withdrawal comes after a video of the lawyer began to circulate, which involved discussions of his association with crypto companies. After the initial filing, Tether requested that the class-action lawsuit filed against the stablecoin issuer have Roche Freedman’s name removed. The lawsuit Tether, the renowned stablecoin issuer, had found itself a target of a class-action lawsuit alleging that it manipulated the crypto market. The Roche Freedman website states that the USDT, or Tether,…
Read More
Top Ethereum Killers to Consider in 2022

Top Ethereum Killers to Consider in 2022

Investors have heavily grilled the Ethereum network over the past couple of years. That is due to congestion, slow speeds, and high gas fees. As this competitive field sees constant innovation, users and developers look for blockchains that meet demand without hassle. This article highlights some leading blockchains that enthusiasts believe will overcome Ethereum's TVL with time. Solana (SOL) Solana tops our list. Backed by billionaire Sam Bankman-Fried, it is a decentralized network created to ensure user-friendly, scalable apps for the market, and Solana gained increased popularity. Solana attracted many developers looking for Ethereum alternatives due to high fees and…
Read More
Terra (LUNA) Gains More Than 20%, Nearing its ATH

Terra (LUNA) Gains More Than 20%, Nearing its ATH

Terra's native token LUNA saw remarkable upswings within the past 24 hours, gaining more than 20% to hover at $99, beneath its lifetime peak. That comes as the broad crypto spectrum sees bullish moves. However, two other factors contribute to Terra's current surge. They are stablecoin UST demand and consistent LUNA tokens' burn. LUNA was among the best-performing alt since last month, gaining 47%. Contrarily, the leading alternative coin, Ethereum, lost nearly 12% within the timeframe. High-Yield Seeker Drive UST Demand UST, via Terra's Anchor Protocol (ANC), offers depositors an almost 20% yearly percentage yield, making it one of the…
Read More
These Are Worst-Performing Cryptos So Far in 2022

These Are Worst-Performing Cryptos So Far in 2022

The cryptocurrency space hasn't had its best year so far. Uncertainty around the Russia-Ukraine conflict plus COVID-19 had most investors escaping risky markets. The crypto spectrum started 2022 in turmoil. Uncertainty around the Russia-Ukraine conflict plus the COVID-19 pandemic pushed away investors interested in long-term crypto investment. Nevertheless, the plunge in crypto prices also presents an opportunity for investors to accumulate at discounted prices. However, let's check the top worst-performing digital tokens so far in 2022. Our analysts used YTD returns stats from Coinmarketcap as of 2022 February end to rank worst-performing assets this year. Moreover, the list included crypto…
Read More
First Swiss Digital Asset Custody Creates Token Backed By Gold

First Swiss Digital Asset Custody Creates Token Backed By Gold

SEBA, a Swiss bank that touts itself as the future bank, has created a digital gold token backed by actual gold. The bank CEO, Guido Buehler, said that gold has always been an essential commodity in financial markets, citing the commodity’s impressive market cap, which lies in trillions of dollars. Buehler revealed that gold had proven to be a trusted shield against inflation as well as a significant investment to protect capital. The Concept And Potential Benefits Today, the firm launched the digital token, regulated and tied to real gold. The bank disclosed that users could exchange the digital token…
Read More
USDC Incorporated On Avalanche

USDC Incorporated On Avalanche

Financial services and blockchain company, Circle, is creating a version of its stablecoin USDC for the Avalanche blockchain. Incorporating the USDC token is supposed to be done on the Avalanche C-Chain. The token support was announced today and will allow users conduct all types of USDC transactions on the network without interacting with the Ethereum blockchain.  USDC’s Growth And Adoption USDC has a current supply of over $40 billion in tokens. It has grown the most in its category; it also has a pool second only to USDT. Currently, it is the most widely used stablecoin on Avalanche. Over a…
Read More
US Treasury Department Is In Discussion For Potential Regulation Of Stablecoins

US Treasury Department Is In Discussion For Potential Regulation Of Stablecoins

Everyone in the cryptocurrency community would agree that stablecoins play a crucial role in both the crypto market and industry. However, officials from the United States Treasury Department have stated that there are various risks associated with stablecoins that must be studied in detail, particularly regarding what would happen if an overwhelming number of traders chose to withdraw various stablecoins simultaneously. The U.S Treasury Department realizes that cryptocurrencies have become incredibly popular, and thus so too has the stablecoin market. As such, numerous discussions were had, which still continue to this day, about how to regulate the private stablecoins in…
Read More
No widgets found. Go to Widget page and add the widget in Offcanvas Sidebar Widget Area.