TagPaxos

Coinbase-Backed Stablecoin Claims Rivals Deceptively Pump Market Caps

reserve, crypto, stablecoin

Touted as the next big thing in crypto, stablecoins promise investors volatility-proof exposure to decentralized assets, but insiders say that this emerging asset class is vulnerable to the same manipulative practices that have tarnished the broader ecosystem. According to Nevin Freeman, chief executive officer of Reserve, a Coinbase-backed stablecoin, many of his rivals artificially inflate...

Tether Briefly Enters Top Four Cryptocurrencies, EOS Spikes by 21%

tether crypto stablecoin usdt

For a short time yesterday, the Tether stablecoin (USDT) hit 4th place by market capitalization in the cryptocurrency charts. Today Bitcoin (BTC) and other altcoins are showing green. EOS is back in 4th place with a sudden 21% hike, and Stellar (XLM) is now in 5th place with a near 9% price increase. At one point, it appeared that investors were selling out of their stablecoin holdings with some...

Huobi Launches Multi-Stablecoin HUSD

Huobi

For some, perhaps the only thing better than a stablecoin is a universal stablecoin – one that’s usable wherever stablecoins are accepted. That’s what Huobi has launched in its new HUSD token, which supports four major stablecoins: Gemini Dollar, Paxos Standard, USDCoin, and True USD. The function is simple enough – by holding HUSD, users are able to instantly have an equal value of any of the...

Crypto Exchange Giant Binance Creates Combined Stablecoin Market

binance crypto exchange

Interesting moves are afoot in stablecoin land. Major crypto trading platform Binance, which is the top exchange by volume – doing nearly twice the 24-hour volume of its nearest competitor at time of writing – has announced that it is creating a new unified stablecoin market. While they haven’t released full details on this new market, we do know that USDT will be part of it, as it is the first...

Independent Firm Verifies Crypto Giant Circle’s USDC Reserves

Circle has announced that it has contracted an independent accounting firm, Grant Thornton LLP, to verify through attestation reports the dollar reserves thaCirclece maintains to back the USDC token. Circle joins Paxos Standard in doing this on a monthly basis. According to the findings of Grant Thornton, Circle actually has about $4,000 more than it has issued in tokens in its accounts backing...

Stablecoin Wars: Crypto Merchant Service BitPay Lists Paxos Standard

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BitPay today expanded its stable of stablecoin offerings for merchant settlement to include the new Paxos Standard, the most heavily traded of the recently-launched group of "regulated stablecoins." As CCN reported in October, BitPay has already added support for Circle’s USD Coin and Gemini’s GUSD. It has apparently decided not to support USDT -- or Tether --which was the world’s first major...

New Crop of ‘Regulated’ Stablecoins are Trading at a Premium to Tether

stablecoin, tether, erik voorhees

The next wave of USD-backed stablecoins have begun to make their way onto high-volume cryptocurrency exchanges, and early indications suggest that traders may trust them more than tether (USDT). New USD-Backed Cryptocurrencies Vie for Tether's Crown As CCN reported, cryptocurrency firms Gemini, Paxos, and Circle have all in recent weeks launched asset-backed “stablecoins,” cryptocurrency tokens...

Gemini Can Freeze its USD-Pegged Cryptocurrency at Any Time: Researcher

Gemini Dollar GUSD Cryptocurrency Stablecoin Frozen

Much has been made in recent days about how Gemini dollar (GUSD), a USD-pegged stablecoin created by the Winklevoss-founded Gemini cryptocurrency exchange, can help regularize cryptocurrency as a mainstream asset class. However, decentralization hardliners may be dismayed by the details of this grand bargain. GUSD Smart Contract Gives Gemini Broad Control Writing on tech publication Good...

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