Stablecoin firm Tether announced that it is launching a new stablecoin pegged to the offshore Chinese yuan. Stablecoin firm Tether announced the launch of a new stablecoin tied to the offshore Chinese yuan dubbed CNHT. According to an announcement on Sept. 9, Tether CNHT is pegged to the offshore yuan and available as an ERC-20 […]
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United States-based investment giant Charles Schwab will be steering clear of cryptocurrencies even as rivals such as Fidelity rush to embrace the new sector. United States-based investment giant Charles Schwab is — for now — steering clear of cryptocurrencies, even as rivals such as Fidelity rush to embrace the new sector. Schwab — the U.S.’ […]
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Swiss National Bank President Thomas Jordan says stablecoins pegged to foreign currencies could hamper Switzerland’s monetary policy. Swiss National Bank (SNB) President Thomas Jordan said that stablecoins pegged to foreign currencies could hamper Switzerland’s monetary policy in some circumstances. Cryptocurrencies’ limited use as payment instruments On Sept. 5, Jordan spoke at the University of Basel, […]
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Chairman of the U.S. Federal Reserve Jerome Powell said that the Fed is monitoring digital currencies carefully, but not working on its own. Chairman of the United States Federal Reserve Jerome Powell said that the United States Federal Reserve is monitoring digital currencies carefully, but not working on its own at the moment. Speaking at […]
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Social media giant Facebook has hired two more lobbyists to aid the release of its forthcoming Libra stablecoin following regulatory pushback. Social media giant Facebook has hired two more lobbyists to aid the release of its forthcoming Libra stablecoin. As Bloomberg reported on Sept. 5, lobbying disclosures filed earlier this week revealed that William Hollier, […]
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JPMorgan analysts say Libra could face gridlock in periods of network stress and that this could have “serious macroeconomic consequences.” The new breed of stablecoins led by Facebook’s Libra could be vulnerable to failure in periods of network stress. According to an analysis from JPMorgan released on Sept. 5, they lack the short-term liquidity of […]
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After failing to break $10,800, Bitcoin continues to see red, while gold sees the worst daily percentage drop in over 2.5 years. Thursday, Sept. 5 — after failing to break $10,800 price point, Bitcoin continued to hover around $10,500, while most of the top 20 coins saw major losses. Market visualization | Source: Coin360 After […]
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Paxos, the stablecoin operator behind PAX Standard, announced what it claims is the first crypto asset redeemable for physical gold. Stablecoin operator Paxos launched PAX Gold (PAXG), a gold-backed Ethereum (ETH) token. Paxos announced the launch of the product above in a press release published on Sept. 5, claiming that it is “the first crypto-asset […]
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Crypto exchange Binance and blockchain trust company Paxos join forces to launch USD-backed stablecoin, approved by the NYDFS. Binance, the biggest crypto exchange by volume, and digital asset trust company Paxos announced its partnership to launch a USD-backed stablecoin, which has received approval from the New York State Department of Financial Services (NYDFS) Binance USD […]
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Fred Wilson, a venture capitalist and co-founder of venture capital firm Union Square Ventures, has revised his bullish opinion on Ether. Fred Wilson, a venture capitalist and co-founder of venture capital firm Union Square Ventures, has revised his bullish opinion on Ether (ETH). Back in 2017, Wilson suggested that the market capitalization of Ether will […]
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