stablecoin
In a rapidly evolving regulatory landscape, Kraken, a prominent US-based cryptocurrency exchange, has firmly stated that it has no plans to delist Tether (USDT) from its European platforms. This announcement comes in response to Bloomberg reports that Kraken was “actively reviewing” supporting Tether’s USDT stablecoin on its European platform because of the regulatory scrutiny surrounding the use of stablecoins in the European Union (EU). Kraken clarifies on Tether (USDT) delisting rumoursMark Greenberg, Kraken’s Global Head of Asset Growth and Management Business, has made it clear that Krake...
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Despite starting the day on a decline, Pyth Network (PYTH) has regained and is currently trading 20% higher over the past 24 hours. Today’s price swing was influenced by a major token unlock and the release of a new LISUSD/USD price feed. Pyth Network (PYTH) token unlockIn the morning, PYTH price experienced a significant price dump due to a voluminous token unlock event. The token dropped to a low of $0.3552 before resurging. Data from tokenunlocks.app shows that the Pyth Network unlocked $935.52 million worth of tokens (2.13 billion PYTH tokens) on 19 May at 2:00 PM UTC as part of a cliff un...
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Tether CEO Paolo Ardoino has slammed Ripple CEO Brad Garlinghouse’s remarks that the US government is “going after” Tether (USDT) as mere “FUD.” The Tether CEO also hit back at Garlinghouse as a CEO at the helm of a company currently under investigation by the US Securities and Exchange Commission (SEC). UDST is the world’s largest stablecoin, currently leading the market with over $111 billion in value. Tether also issues other stablecoins including one pegged against the Euro. Meanwhile, Ripple is an enterprise blockchain and cryptocurrency solutions provider and the company behind XRP. SEC ...
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A new analysis conducted by Visa and data analytics firm Allium Labs has discovered that less than 10% of stablecoin transaction volumes are generated by real users, with the vast majority driven by automated bots and large-scale traders. Limited organic activity in stablecoin transactionsThe study, which was reported by Bloomberg, investigated approximately $2.2 trillion worth of transactions in April and found that only about $149 billion represented genuine, organic payments activity. This stark discrepancy highlights the prevalence of non-human actors in the stablecoin markets. The analysi...
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