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The current downtrend of the crypto market has negatively affected financial institutions, particularly those dealing with digital currencies. Currently, some firms are beginning to feel the heat from a different angle. This involves sponsorship deals between these digital currency companies and sports teams. This is particular to the crypto firms that
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“Not only are we an investor and a builder, we also wanted to adopt these types of disruptive technology to use, especially to use inside a bank,” said Panich in an interview. “We think Compound has created a regulated instrument that’s very easy to understand: U.S. dollar in, U.S. dollar
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As per the official report published on May 18, Tether, the issuer of the world’s most used stablecoin, USDT, has cut 17% of its commercial paper holdings and increased United States Treasury bills with this reserve amount to back its stablecoin, USDT. Tether made the reduction over Q1 2022 and
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Tether reduced its commercial paper holdings by 17% from $24.2 billion to $19.9 billion in the quarter ended March 31, according to it latest attestation report. Source
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Quick take: Tether’s CTO has stated that the company has reduced its holdings of commercial paper and increased its US Treasuries as reserves for USDT Tether also announced that the USDT stablecoin had stood the test of time USDT also suffered depegging this week as stablecoins were in the spotlight after UST’s and
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The Indian government is exploring “several commercial use purposes and not just financial inclusion” for its central bank digital currency. India’s finance minister clarified that the aim is for the digital rupee, which will be backed by the Reserve Bank of India (RBI), to be issued by 2023. India’s Finance Minister
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On Friday, Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, announced the company acquired the intellectual property behind the Cryptopunks and Meebits brands. Furthermore, after obtaining the IP from Larva Labs, Yuga has decided to give “full commercial rights to the NFT holders.” Bored
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The largest stablecoin issuer by total supply released its latest attestation report on Tuesday. Source
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USDT stablecoin issuer Tether cut its reserves allocation to commercial paper by more than one fifth between September and December last year, dropping from around $30.5 billion to $24.16 billion. Tether is legally required to disclose its reserves every quarter as part of an $18.5 million court settlement with the
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