Regulators Object to Celsius’ Stablecoin Sale Request
- The Department of Banking and State Securities Board of Texas, as well as the Vermont Department of Financial Regulation have all objected to Celsius’ plans to sale its stablecoin holdings.
- All three agencies noted the company had failed to provide sufficient details about what it would do with the proceeds from the sale.
a day ago
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Terraform Labs Calls Do Kwon’s Arrest Warrant an Overreach
- Terraform Labs’ spokesperson said the case against Do Kwon has become “highly politicized”, and that Korean prosecutors had failed to uphold basic rights under the law.
- The spokesperson also claimed that Terra’s Luna Classic (LUNC) token “is not, and has never been, a security”, and that prosecutors had expanded the definition of a security after it had collapsed.
September 29, 2022, 1:41 PM
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Tether Ordered to Provide Documents Connected to USDT Backing
- The stablecoin issuer was order to produce a number of financial documents, as well as records of crypto trades, transfers, and its accounts with crypto exchanges.
- The order was made as part of a case that was started in 2019 by a group of investors, who alleged the company had manipulated the crypto market in 2017.
September 21, 2022, 4:22 PM
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Binance to Auto-Convert Several Stablecoins to BUSD
- Binance revealed that starting 29 September all existing balances and new deposits of USDC, USDP, and TUSD will be auto-converted into its own BUSD stablecoin.
- While Binance claimed the move was made to “enhance liquidity and capital-efficiency for users”, it will also expand the market share of BUSD, currently ranked third in market capitalization.
September 6, 2022, 11:29 AM
Binance CEO Changpeng Zhao. CoinDesk
Aug 18, 2022
Acala Recovers Majority of Erroneously Minted Tokens
- The platform has so far recovered around 2.97 billion aUSD tokens from the 16 addresses that exploited a bug in its smart contracts.
- The recovery was possible as 99% of the stablecoin’s “error mints” remained on Acala’s Polkadot parachain after the network was put in maintenance mode.
Aug 15, 2022
Acala Network’s aUSD Stablecoin Falls 99% After Exploit
- A bug in Acala Network’s newly launched iBTC/aUSD liquidity pool allowed an attacker to mint close to 1.3 billion aUSD tokens, causing its price to drop by 99%.
- The protocol’s team quickly put the network in maintenance mode, freezing the funds in the attacker’s wallet, and is now discussing ways to restore aUSD’s peg to the U.S. dollar.
Aug 1, 2022
Aave Community Vote Approves Stablecoin Creation
- The community proposal passed with 501,000 AAVE tokens in favor, which amounted to 99.99% of the total votes cast during the three0day long voting period.
- The GHO stablecoin is similar to other algorithmic stablecoins, though it aims to become an overcollateralized stablecoin similar to DAI.
Jul 28, 2022
Flash Loan Exploit Drains Liquidity From Nirvana Finance
- Hacker used a flash loan attack to manipulate and drain Nirvana’s liquidity pools, causing the protocol to lose $3.49 million in digital assets.
- Shortly after the attack, which used a flash loan from Solend, both Nirvana’s native token ANA and NIRV stablecoin fell in price by over 80%.
Jul 12, 2022
PicPay to Launch Crypto Exchange and Stablecoin in Brazil
- The exchange, which will reportedly launch within a month, plans to initially support Bitcoin, Ethereum, and Pax Dollar.
- PicPay’s stablecoin pegged to the Brazilian real, called the Brazilian Real Coin (BRC), is expected to launch by the end of the year.
Jul 11, 2022
Multiple Projects Migrate From Terra to Polygon
- Among the 48 projects that have started migrating over from Terra are some high-profile names, such as OnePlanet, Lunaverse, and Derby Stars.
- OnePlanet played a huge role in helping NFT projects, encompassing 90 NFT collections, migrate to Polygon through its Ark*One initiative.