Paxos to Acquire Membrane Finance in Strategic Move to Make USD-Backed Stablecoins MiCA Compliant

November 19, 2024 Bitcoin.com

bitcoin.com

This strategic move is aimed at accelerating Paxos’ commitment to compliant financial products and success of its stablecoins. USD-Backed Stablecoins in Europe Paxos, a regulated financial institution and provider of tokenized products has announced an agreement in principle to acquire Membrane Finance, a blockchain infrastructure company, subject to regulatory approval. With this acquisition, Paxos is […]

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A $9.7 Billion Boom in 14 Days—Stablecoin Market Eyes Historic Peak

November 16, 2024 Bitcoin.com

A .7 Billion Boom in 14 Days—Stablecoin Market Eyes Historic Peak

Altcoins

Over the past 14 days since Nov. 2, an eye-popping $9.736 billion has flowed into the stablecoin economy, adding to the $555 million boost recorded in October. Near Record Highs: Stablecoin Economy Grows Stablecoins have cemented their role as a powerhouse in the crypto world, holding immense value and influence. Over the last two weeks, […]

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Ethena adopts fee-sharing proposal for ENA token

November 16, 2024 Coin Telegraph

Coin Telegraph

Now the protocol is working on a value accrual mechanism for ENA stakers.

The Ethena Foundation signed off on Wintermute’s proposal to share a portion of the decentralized finance (DeFi) protocol’s revenues with tokenholders, according to Wintermute’s governance forum.

On Nov. 6, Wintermute, a cryptocurrency market maker, proposed allocating a portion of Ethena’s fee revenue to stakers of ENA (ENA), Ethena’s native token.

“The Ethena Foundation is pleased to share that the proposal to enable an $ENA fee switch has been approved by the Risk Committee,” it said in the governance forum on Nov. 15.

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Tether mints $1 billion USDt on Tron, pays zero fees — Arkham

November 16, 2024 Coin Telegraph

Tether mints billion USDt on Tron, pays zero fees — Arkham

Coin Telegraph

According to stablecoin firm Tether, approximately $127 billion in Tether-USD tokens (USDt) are currently in circulation.

Tether minted $1 billion in USDt (USDT) stablecoins on the Tron network and paid no fees for the large transaction, according to data from onchain analytics firm Arkham Intelligence.

The analytics platform highlighted the Nov. 14 transaction from a “black hole address” on Tron to Tether’s multisignature wallet beginning with the characters “TBPxh.”

Onchain records also show that almost immediately after the 1 billion USDT was sent to Tether’s multisignature wallet, the funds were transferred to the stablecoin firm’s treasury, and this transaction likewise featured zero fees.

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Crypto Kidnapping: Tourist Held Captive, Forced to Transfer $250K in USDT

November 13, 2024 Bitcoin.com

Crypto Kidnapping: Tourist Held Captive, Forced to Transfer 0K in USDT

bitcoin.com

A 23-year-old Ukrainian tourist in Phuket, Thailand, was kidnapped and forced to transfer $250,000 in USDT stablecoins (about 8.56 million baht) to two armed robbers. Viacheslav Leibov was threatened with violence until he complied with the robbers’ demands. Initially, the two robbers, an Armenian and a Ukrainian, demanded $500,000 in USDT but agreed to settle […]

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Tether launches open-source wallet development kit for humans and AI

November 12, 2024 Coin Telegraph

The WDK will enable developers to integrate non-custodial wallets for USDT and Bitcoin into any app, website or device.

The world’s largest stablecoin issuer, Tether, launched an open-source wallet development kit (WDK) to enable businesses and developers to integrate non-custodial wallets into any website or app — and it’s even designed to work with AI agents.

On Nov. 11, Tether announced the launch of its WDK, which it described as a modular software development kit “designed to empower businesses and developers to seamlessly integrate non-custodial wallets and user experiences for USDT and Bitcoin in any app, website, and device.”

The WDK was designed to support both human users and “embrace new digital beings like AI agents, robots and autonomous systems,” the firm said.

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Canadian police praise Tether for ‘swift’ recovery of stolen funds

November 8, 2024 Coin Telegraph

Asset Freeze

The stablecoin firm previously came under fire from Wyoming Senator Cynthia Lummis for allegedly facilitating illicit finance activities.

The Ontario Provincial Police (OPP) thanked stablecoin issuer Tether for its assistance in aiding an investigation by freezing approximately 10,000 Canadian dollars ($7,186) in Tether stablecoins stolen from an individual, which has since been returned to the victim.

Tether worked alongside the OPP’s Cyber Investigations Team to recover the funds, and following the successful operation, Addison Hunter — detective staff sergeant of the OPP — remarked:

Tether CEO Paolo Adoino also highlighted the company’s commitment to “Supporting law enforcement efforts to combat cybercrime,” and will continue to work with law enforcement officials worldwide to “Hold bad actors accountable and, ultimately, support the victims.”

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Tether swaps more than 2 billion USDT to the Ethereum network

November 7, 2024 Coin Telegraph

Coin Telegraph

The vast majority of Tether's USDT volume exists on the Tron network due to comparatively lower fees and faster transaction finality.

Stablecoin issuer Tether announced it was conducting a large cross-chain swap of more than 2 billion Tether-USD (USDT) from various blockchain networks to the Ethereum network on November 6, 2024.

According to Tether, 1 billion USDT will be swapped from the Tron network, 600 million USDT will be transferred from the Avalanche C-Chain, an additional 300 million USDT from the NEAR protocol will also make its way to the Ethereum network, and, finally, 60 million USDT from the EOS network will also be swapped to Ethereum.

The stablecoin firm explained that the cross-chain swap was performed on behalf of a large, unnamed exchange wishing to transfer their USDT holdings from various cold wallets to the Ethereum blockchain.

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Kraken Joins Forces With Robinhood and Other Crypto Firms To Roll Out Global Dollar Stablecoin

November 6, 2024 The Daily Hodl

Altcoins

The stablecoin issuer Paxos partnered with the crypto exchange Kraken, the retail trading giant Robinhood and a handful of other digital asset firms to launch a new stablecoin network for enterprises. The new “Global Dollar Network” is an open network that aims to increase stablecoin usage around the globe, according to a new press release […]

The post Kraken Joins Forces With Robinhood and Other Crypto Firms To Roll Out Global Dollar Stablecoin appeared first on The Daily Hodl.

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Global Dollar Network Launches: Crypto Titans Aim to Redefine Payments

November 6, 2024 Bitcoin.com

bitcoin.com

A consortium of crypto and fintech giants is launching the Global Dollar Network for seamless cross-border payments. A New Frontier: Crypto Leaders Launch Global Dollar Network for Payments Leaders in fintech and digital assets announced Monday the launch of the Global Dollar Network, which they described as “an open network designed to accelerate stablecoin usage […]

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