Stablecoin
MakerDAO Votes to Ditch $500M in Paxos Dollar Stablecoin From Reserve; Nike Teams Up With EA Sports
CoinDesk's Jennifer Sanasie presents the major stories shaping the crypto industry on "CoinDesk Daily" as MakerDAO’s community voted to ditch $500 million Paxos Dollar (USDP) stablecoin from the lending protocol's reserves. Plus, insights on Kraken's gains in customer deposits in Canada following the departure announcements of its rival exchanges including Binance and OKX. And, a closer look at the partnership between Nike Virtual Studios and video game developer EA Sports.
MakerDAO Votes to Ditch $500M in Paxos Dollar Stablecoin From Reserve Assets
The result is a significant blow for Paxos as MakerDAO currently holds roughly half of USDP’s total supply.
First Digital Unveils USD Stablecoin as Hong Kong Crypto Rules Kick In
The stablecoin is issued by a registered trust owned by First Digital.
USDC Issuer Circle Has Ditched All U.S. Treasuries From $24B Reserve Fund Amid Debt Ceiling Showdown
The stablecoin issuer now only holds cash and repurchase agreements to back its USDC stablecoin’s value.
USDT Issuer Tether Ventures Into Payment Processing With Georgia Investment
The stablecoin issuer announced earlier this week it is investing in a sustainable bitcoin mining facility in Uruguay.
Team Behind Offshore Yuan, Hong Kong Dollar Stablecoins Detained by Chinese Police: Report
Earlier this year KuCoin closed a $10 million funding round into CNHC.
Stablecoin Issuer Lybra Finance Nears $100M in TVL
Lybra Finance was launched last month and uses liquid staking derivatives to offer a decentralized interesting-bearing stablecoin.
Former Paxos Exec on Stablecoin Regulation in the U.S.
Former Paxos head of portfolio management and Columbia Business School adjunct professor Austin Campbell discusses the state of stablecoin regulation in the U.S., citing the "substantive disagreements" in Washington, D.C. when it comes to progress over stablecoin legislation.
Do Kwon’s Detention in Montenegro Extended
Terraform Labs co-founder Do Kwon will stay in detention while he faces charges of falsifying official documents in Montenegro. This comes after a request for bail was approved and later revoked. Austin Campbell, Columbia Business School Adjunct Professor and former Paxos Head of Portfolio Management, discusses his take on the latest developments around the Terra ecosystem and the outlook for stablecoin regulation.
Bitcoin's Hot Ordinals Economy is Getting a Dollar-Backed Stablecoin
Bitcoin’s quickly maturing ordinals scene has come a long way since January.
