BUSD Stablecoin Temporarily Plunges to 20 Cents on Binance
Binance USD (BUSD), the third-largest stablecoin by market cap, spiked to a low of $0.20 against the DAI stablecoin as liquidity dried up on Binance. Source
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Stablecoin
Chainlink, TrueUSD Start Real-Time ‘Mint Lock’ Verification of Stablecoin Reserves
The key is to get information from the bank account where the stablecoin’s reserves are kept to the blockchain-based smart contract that controls issuance of new TUSD. Source
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SEC Sues Terraform Labs, Do Kwon for Misleading Investors on TerraUSD Stablecoin
"Terraform and Kwon also misled investors about one of the most important aspects of Terraform's offering – the stability of UST, the algorithmic 'stablecoin' purportedly pegged to the U.S. dollar," the suit said. "UST's price falling below its $1.00 'peg' and not quickly being restored by the algorithm would spell
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USP Stablecoin Loses Dollar Peg as DeFi Protocol Platypus Suffers $8.5M Attack
The flash loan attack caused Platypus Finance’s native stablecoin to fall to 48 cents from $1. The potential loss is $8.5 million, according to blockchain security firm CertiK. Original Source
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BUSD Drama Sets Stage for Stablecoin Market Reshuffle
Binance’s bet on its BUSD stablecoin could backfire into a revamping of who’s winning in crypto’s dollar-pegged token markets. Original Source
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Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals
The U.S. Securities and Exchange Commission (SEC) wants to sue Paxos for issuing and listing stablecoin Binance USD (BUSD) to the benefit of its top-rival stablecoin Tether (USDT), whose market capitalization has risen to multi-month highs. BUSD market cap drops by $2 billionThe SEC asserts that BUSD, a U.S. dollar-backed stablecoin,
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Tether USDT Stablecoin Gains $1 Billion as Paxos Burns Over $1.8B of Binance USD Stablecoins
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BUSD Stablecoin Inches Toward $1 Peg After Binance CEO Comments
Changpeng Zhao on Tuesday distanced himself from the Binance-branded stablecoin. Source
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Stablecoin Issuer Paxos Burns $700M Binance USD in 27 Hours Amid Regulatory Pressure
The maneuver is a sign of investors exiting BUSD quickly. The $700 million redemption in a little more than a day represents some 6% of the total coins in circulation. Changpeng “CZ” Zhao, chief executive of Binance, the world’s largest crypto exchange by trading volume, tweeted Monday that BUSD market
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Binance CEO Distances Himself From BUSD Stablecoin as Regulators Act
CZ said Binance will continue working with other stablecoin issuers, and noted he’s skeptical about claims Circle raised alarm bells with regulators. Original Source
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