Ripple Tests New Stablecoin on Ethereum and XRP Ledger
Ripple has begun testing its new stablecoin, Ripple USD (RLUSD), on the Ethereum mainnet and XRP Ledger, aiming to enter the growing stablecoin market pending regulatory approval.
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USDT Hits $115B Market Cap: Tether’s Stablecoin Milestone
Tether’s USDT stablecoin has reached a market capitalization of $115 billion, reinforcing its dominance in the stablecoin market and signaling increased adoption in the cryptocurrency ecosystem.
USDC Surge Signals Potential Crypto Buying Trend
USDC deposits to centralized exchanges hit a one-year high, suggesting investors are positioning to buy cryptocurrencies at lower prices. This trend, along with other market indicators, points to potential growth opportunities in the crypto market.
Tether Faces Intense Scrutiny Over Alleged Corruption Ties and Criminal Activity Links
Consumers’ Research has launched a campaign against Tether, accusing the stablecoin issuer of being a threat to consumers and raising concerns about its potential to become the next FTX. The accusations include ties to the fallen FTX exchange, facilitating criminal activities, and a decade-long refusal to conduct a full audit.
Bitcoin Demand Rises Despite Stagnant Price
Despite strong demand for Bitcoin from institutional investors and long-term holders, Bitcoin’s price has yet to experience a significant rally, according to a recent report by CryptoQuant. The report cites slowing growth in the market capitalization of the stablecoin Tether (USDT) as a potential factor impeding a price rally.
XRP Dips After Ripple Moves 200M Tokens
XRP’s price fell by around 4% on Friday after Ripple allegedly moved 200 million XRP tokens to an unknown wallet, fueling suspicions within the crypto community about the company’s intentions for its native token.
PayPal USD Stablecoin Goes Live on Solana Blockchain
PayPal has launched its Paxos-issued PayPal USD (PYUSD) stablecoin on the Solana blockchain, enabling users to facilitate cross-border transactions, remittances, and other payments on the high-performance network.
Russian Firms Embrace Stablecoins for China Trade Amid Sanctions
To circumvent international sanctions and facilitate cross-border transactions with Chinese counterparts, Russian companies are increasingly turning to stablecoins like Tether (USDT), leveraging their speed, cost-efficiency, and ability to bypass traditional banking channels.
Circle Relocates from Ireland to the U.S.
Circle has confirmed plans to relocate its legal base from the Republic of Ireland to the United States, foregoing Ireland’s low corporate tax rates. This move is tied to Circle’s proposed initial public offering (IPO) plans, which were disclosed earlier this year.
Tether’s $60M Launch on TON: Expanding Stablecoin Reach
Tether, the world’s leading stablecoin issuer, has issued $60 million worth of USDT on The Open Network (TON) since integrating with the blockchain on April 19th, expanding its reach and offering new options for users.