Circle and Tether Freeze $65 Mln Amid Multichain Hack
. The exploit resulted in the loss of over $126 million worth of various tokens, prompting Circle and Tether to freeze more than $65 million in associated assets.
Tag Stablecoin
Italy’s Central Bank calls for robust framework to regulate stablecoins
The report highlights instances that have raised concerns about the stability of stablecoins, such as the de-pegging of Terra's stablecoin and a notable run on Tether.
Tether Addresses Reports on Chinese Securities Exposure
Tether, the stablecoin issuer, did partially back its stablecoin with Chinese stocks for a while, despite refusing to confirm it at the time.
Japan’s MUFG to Launch Bank-Backed Stablecoins on Numerous Public Blockchains
Progmat Coin will facilitate the issuance of bank-backed stablecoins on various public blockchains, including Ethereum, Polygon, Avalanche, and Cosmos
New York Proposes Stablecoins for Bail Payments
A New York legislator recently introduced a new measure that encourages the use of fiat-collateralized stablecoins as a legitimate means of paying bail bonds.
U.S. Congress Unveils New Framework to Regulate Stablecoins
The House of Representatives document repository has been updated with a new draught bill proposing a framework for stablecoins in the United States. The first notable cryptocurrency legislation of 2023 is the stablecoin bill.
National Australia Bank announces completion of first-ever cross-border stablecoin transaction
The intrabank transfer used NAB’s fully backed AUDN stablecoin and was issued as an ERC-20 token.
Ether and Stablecoins are commodities, asserts CFTC chair
Behnam asserted that it "would not have allowed" Ether futures products to be listed on CFTC exchanges if it "did not feel strongly that it was a commodity asset."
Stablecoin issuer Tether falsified documents to start bank account, report claims
The report claims that Crypto Capital Corp., a "shadow bank" held Tether funds before being shut down by authorities in 2018.
Stablecoin issuer Paxos probed by SEC over BUSD offering, report
The United States Securities and Exchange Commission plans to sue stablecoin issuer Paxos, over its Binance USD (BUSD) token,
