Coinbase prepares to delist Tether’s USDT stablecoin in Europe

December 12, 2024 Coin Telegraph

Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.

Cryptocurrency exchanges in Europe are preparing to delist locally noncompliant stablecoins as European crypto regulations near an enforcement deadline.

Coinbase Europe, Coinbase Germany and Coinbase Custody International will delist Tether’s USDt (USDT) and five other stablecoins on Dec. 13, Coinbase told Cointelegraph on Thursday.

“Based on the latest information, we currently expect we will have to restrict services for the following assets: USDT, PAX, PYUSD, GUSD, GYEN, and DAI,” Coinbase said, referring to the coins as assets restricted by Europe’s Markets in Crypto-Assets Regulation (MiCA).

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Sky co-founder proposes no new emissions for core token

November 4, 2024 Coin Telegraph

Coin Telegraph

Rune Christensen proposed a deflationary model for Sky, halting token emissions and aligning with MakerDAO’s original supply reduction vision.

Rune Christensen, the co-founder of Sky (formerly MakerDAO), said he is preparing a proposal for “strictly deflationary tokenomics” to halt token emissions and decrease total supply.

Christensen aims to prevent token emissions from occurring “in normal conditions” regardless of whether the core token stays as Maker (MKR) or becomes SKY in line with the new brand.

The new token structure would ensure that the chosen token is supported by long-term supply reduction and a burn mechanism, aligning with MakerDAO’s original tokenomics model.

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Sky Reports Over 1 Billion USDS Minted Since August Rebrand

October 5, 2024 Bitcoin.com

bitcoin.com

It’s been approximately 38 days since Makerdao, the decentralized finance (defi) project, rebranded as Sky and launched both the USDS stablecoin and the SKY token. During this time, more than a billion USDS coins have been minted, and 530 million DAI have been converted to the new standard. Makerdao Sees 530 Million DAI Upgraded Since […]

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Coinbase-backed Truflation confirms hack, estimated around $5M

September 26, 2024 Coin Telegraph

Coinbase-backed Truflation confirms hack, estimated around M

Coin Telegraph

Truflation’s team said that no customer funds were stolen in the security breach.

Blockchain-based inflation data platform Truflation confirmed it suffered a malware attack, with blockchain analysts estimating it lost up to $5.2 million.

“The Truflation team detected some abnormal activity. An attacker launched an attack using malware,” the project said in a Sept. 25 X post.

Truflation added it was monitoring the incident and is taking measures to protect funds while working with “leading industry partners” and law enforcement.

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Stablecoin Market Adds $1B in Six Days as Major Tokens Expand

September 21, 2024 Bitcoin.com

Stablecoin Market Adds B in Six Days as Major Tokens Expand

Altcoins

In the past month, the stablecoin market has kept its upward momentum, with four out of the top five U.S. dollar-pegged tokens increasing in supply. Since Sept. 15, the stablecoin economy has expanded by $1.04 billion, all within just six days. Tether, USDC See Supply Boosts as Stablecoin Market Grows by $1B in Less Than […]

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Fiat-Pegged Crypto Market Expands by $1.39B in Past Week, Led by USDT and USDC

September 16, 2024 Bitcoin.com

Fiat-Pegged Crypto Market Expands by .39B in Past Week, Led by USDT and USDC

Altcoins

Over the past week, the stablecoin market has expanded by $1.39 billion. Once again, tether (USDT) took the lead, with its supply increasing by 610 million USDT during the last seven days. Stablecoin Market Continues to Climb Though the pace has slowed, the stablecoin market keeps inching upward every week. On Sept. 7, the fiat-backed […]

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Stablecoin Economy Expands $1.08B in 2 Weeks Despite Reductions in Key Coins

September 7, 2024 Bitcoin.com

Stablecoin Economy Expands .08B in 2 Weeks Despite Reductions in Key Coins

Altcoins

In the past 15 days, the stablecoin economy experienced modest yet steady expansion, adding $1.08 billion to its overall value. During this time, tether’s market capitalization increased by 790 million. Modest $1.08B Growth in Stablecoin Market Since Aug. 23 Growth in the stablecoin economy has slowed, though it continues to expand, as highlighted by recent […]

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Aave, Sky float partnership to bridge DeFi, TradFi

September 3, 2024 Coin Telegraph

Aave

The plan would create markets for DAI-replacement USDS on Aave.

Decentralized finance (DeFi) protocols Aave and Sky (previously Maker) are exploring a partnership designed to “close the gap between DeFi and TradFi,” according to a Sept. 2 announcement.

The proposed partnership, referred to as the Sky Aave Force, follows a Sept. 2 governance proposal by Phoenix Labs, a DeFi research and development organization. The proposal suggests issuing SPK tokens—native to Sky’s subDAO, Spark—to help establish a market for USDS, a stablecoin launched after Maker’s August rebranding to Sky.

“Sky Aave Force has an ambitious goal: to drive mass adoption and close the gap between DeFi and TradFi. Now is the time to work together,” said Aave Labs, the developer behind the Aave DeFi lending platform.

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MakerDAO Co-Founder Says Stablecoin Rebrand Will Have Freeze Function, But DAI Will Continue As Normal

August 28, 2024 The Daily Hodl

Altcoins

The co-founder of decentralized finance (DeFi) platform Maker (MKR) says that the rebrand of its stablecoin will have a freeze function but that DAI will continue to operate normally. In a new thread on the social media platform X, MakerDAO creator Rune Christensen says that DAI itself will not feature a freeze function – or […]

The post MakerDAO Co-Founder Says Stablecoin Rebrand Will Have Freeze Function, But DAI Will Continue As Normal appeared first on The Daily Hodl.

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Orbit Chain hacker moves $48M to Tornado Cash after months of ‘silence’

June 10, 2024 Coin Telegraph

Orbit Chain hacker moves M to Tornado Cash after months of ‘silence’

Account Balance

The cross-chain bridge was exploited for $82 million over New Year’s Eve, with the funds sitting dormant since Jan. 1.

The exploiter behind the $82 million Orbit Chain hack over New Year’s Eve has moved $47.7 million to cryptocurrency privacy mixer Tornado Cash after five months of “silence.”

A total of 12,932 Ether (ETH) — worth $47.7 million — was moved across seven transactions on June 8, to a new address, which sent the funds to crypto mixer Tornado Cash, according to blockchain analytics firm Arkham Intelligence.

It was widely reported that the exploit caused $82 million in losses but Arkham's recent posts suggest it was closer to $100 million.

DAI

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