Defi Protocol Sonne Finance Reports Major Security Breach, $20 Million Lost to Hackers
Sonne Finance, a decentralized liquidity market protocol, was hit by a cyberattack, with initial losses of $3 million in USD Coin and Wrapped Ethereum from its Optimism chain quickly escalating to $20 million, as detected by blockchain security firm Cyvers on May 15. Following the attack, Sonne Finance suspended its Optimism Market and assured that […]
Coinbase to Shift USDC Accounts to Its Layer Two Blockchain Base
Coinbase plans to transition more customer and corporate Usd coin (USDC) stablecoin accounts to Base, its Ethereum layer two blockchain, aiming for reduced fees and quicker settlement times, as announced by Coinbase VP Max Branzburg. The move is seen by some in the crypto industry as a positive step towards an on-chain financial future, setting […]
Stablecoin Economy Sheds Another $3 Billion in 44 Days
The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month […]
The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg
2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23 days as BUSD shed roughly 23.3% during the last month. Over $3 Billion in […]
2022’s Market Review: Crypto Economy Loses $1.4T, Top 10 Token Knockouts, Terra’s Collapse
2022 is coming to an end and during the last 12 months, the crypto economy has lost roughly $1.486 trillion in value against the U.S. dollar. On Dec. 20, 2021, bitcoin was trading for $46,406 and it has lost more than 63% in value year-to-date, while the second leading crypto asset ethereum shed 69% against […]
Tron’s Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital
The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project is overcollateralized by 200.8% at the […]
Coinbase Entices Users to Switch From USDT to USDC, Crypto Firm Says Recent Events ‘Put Some Stablecoins to the Test’
Coinbase, one of the largest cryptocurrency firms in the industry, has published a blog post that tells users to “switch to the trusted and reputable digital dollar,” referring to the stablecoin asset usd coin. The company’s blog post specifically mentions switching the stablecoin asset tether over to usd coin, and the firm is offering “zero […]
Binance and Paxos-Backed Stablecoin BUSD’s Market Cap Climbs 22% in 2 Months
In mid-August, or 68 days ago, the market capitalization of the stablecoin BUSD was approximately $17.7 billion and since then, its grown 22.88% higher to today’s $21.78 billion. BUSD’s growth comes at a time when the market valuations of the top two stablecoins tether and usd coin have shed some excess weight. While Tether and […]
Circle Launches Cross-Chain Transfer Protocol, USDC Issuer Acquires Payment Orchestration Firm Elements
On Thursday, at the Converge22 event in San Francisco, Circle announced the acquisition of the payment orchestration company Elements. Circle explained that the acquisition includes plans to “quickly scale payment offerings.” Circle says the new service will make it easier for merchants to integrate their existing points of contact with Circle’s crypto solutions. Circle Reveals […]
Circle Introduces Cross-chain Protocol To Launch The USDC Stablecoin On Five New Blockchains
Circle Internet Financial, the issuer of USD Coin (USDC) and Euro Coin (EUROC), has announced a Cross-Chain Transfer Protocol that will enable the launch of its USDC stablecoin on five new blockchains. USDC to Launch on Five New Chains Three weeks after the world’s biggest crypto exchange, Binance announced the delisting of Circle’s USDC, the […]