Tether, a leading stablecoin issuer, has published an attestation report for Quarter 2 of 2023. The report shows that the company owns $72.5 billion of US treasury bills, with an excess reserve of $3.3 billion. Now, just to give you…
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Singapore among World’s First to Agree to Stablecoin Crypto Regulation
Making the dawn of new age, The Monetary Authority of Singapore (MAS) announced its rules for using and adapting a stablecoin cryptocurrency. Singapore is one of the earliest in setting the bar by finalizing stablecoin regulations. This stablecoin crypto regulation…
USDC Depeg’s, currently at .92cents, Circle Confirms $3.3B Stuck with Silicon Valley Bank
Circle, the company behind USDC, the second-largest stablecoin in circulation, recently confirmed that its cash reserves worth $3.3 billion(alleged 9.8 billion from Deloitte audit ) have been stuck with Silicon Valley Bank (SVB), which was taken over by regulators and…
Stablecoin Issuer Paxos in a Pickle by SEC
Paxos, a New York-based technology and financial company, is in a pickle after the Security and Exchange Commission (SEC) stated that it plans to sue the company for regulatory violations over its issuance of a stablecoin. This seems to be…
Is USDC the Most Promising Regulatory-compliant Stablecoin?
The cryptocurrency space has its share of bad actors. This is one of the reasons a lot of investors are having second thoughts about dipping their toes in digital assets. Circle’s USDC stablecoin is being marketed as one of the…