Tagstablecoins

Marijuana Stablecoin Asked to Play in Arizona Fintech Sandbox

cannabis

Arizona, home of the first U.S. FinTech Sandbox, has admitted another cryptocurrency startup into the program that is designed to ease regulatory burdens for entrepreneurs in the financial technology space. According to a statement released by Attorney General of Arizona, Mark Brnovich, ALTA becomes the seventh firm to be inducted into the regulatory sandbox. On its website, ALTA describes itself...

Facebook to Launch Foundation for Cryptocurrency Partner Nodes: Report

Mark Zuckerberg

By CCN: Facebook is further along with its cryptocurrency than it has let on. It turns out the digital currency is much closer to its debut than expected. The social media behemoth plans to debut its new stablecoin, seemingly GlobalCoin which will reportedly be backed by a basket of fiat currencies, this month, according to CNBC citing The Information. Not only that, but there's reportedly a...

Facebook's Aging Users & Broke Teens Will Reject GlobalCoin: Report

facebook stock, wall street journal, mark zuckerberg

By CCN: Excitement for Facebook’s forthcoming cryptocurrency, dubbed GlobalCoin, may have hit its first roadblock in adoption. Poor Demographics for GlobalCoin According to research published on May 28 by cryptocurrency analytics firm Diar, Facebook’s payment-focused coin will fail to gain traction based upon the demographics of the platform’s user base. Despite being one of the largest social...

Bitfinex Claims Victory as Supreme Court Gives Nod to Exchange & Tether

Bitfinex, Tether

By CCN: The New York Supreme Court has ruled that the scope of the Attorney General’s investigation into Bitfinex and Tether Limited is too broad and needs a time limit. Bitfinex: Supreme Court Ruling a "Victory" The embattled exchange called the ruling a “victory” and insinuates that the case will end up going nowhere. Bitfinex has already admitted that as much as $850 million evaporated from...

Coinbase Goes for Tether's Throat, Catapults USD Coin Into 85 Countries

Coinbase, USDC

By CCN: Given the widely publicized troubles faced by Tether (USDT), there is a massive opportunity for a competitor to wade into the stablecoin arena. It appears that Coinbase will be that adversary, as the crypto exchange is taking the opportunity to double down on USDT's problems and expand USD Coin (USDC) trading into 85 countries. USDT is the result of a collaboration between Coinbase and...

'Trustworthy' Bitcoin Exchange That Hid $850 Million Loss Raises $1 Billion

Bitfinex, Tether

By CCN: Bitfinex CTO Paolo Ardoino told Twitter that the firm was able to raise $1 billion in USDT within a short period because big investors know Bitfinex is “trustworthy.” Trust, Don't Verify The New York Attorney General’s office recently opened a very public investigation into the firm. They allege much to the contrary. Tether Limited subsequently admitted it only has 74% of the reserves for...

Joseph Lubin: Tether's Rivals to Gain Traction amid Bitfinex 'Mess'

joe lubin, bitfinex

By CCN: The Bitfinex “mess” won't be resolved anytime soon, charged Ethereum co-founder Joseph Lubin. His comments, which came on Thursday, come after a New York Supreme Court judge scathingly criticized the NY Attorney General who filed an injunction against Bitfinex and Tether. The office, led by AG Letitia James, contends Bitfinex and Tether committed fraud when it handled the hack that led to...

Facebook Suddenly Relaxes Crypto Ad Terms Before Stablecoin Launch

Facebook, Mark Zuckerberg

By CCN: Now that Facebook is on the cusp of rolling out its own crypto of sorts, it’s adjusting policies for existing market players to advertise on its platform – again. The world’s largest social media platform said in a blog post on Wednesday that it’s been listening to feedback since it shut down crypto advertising. That led it to assess the policy’s effectiveness, and voila, it had an...

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