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Bitfinex First to List aUSDT, a Gold-Backed Tether Asset

Bitfinex First to List aUSDT, a Gold-Backed Tether Asset

Bitfinex becomes the first exchange to list aUSDT, a gold-backed tethered asset by Tether, enhancing stability in the cryptocurrency market.

Bitfinex Introduces aUSDT: A Gold-Backed Digital Asset

Bitfinex Introduces aUSDT: A Gold-Backed Digital Asset

Bitfinex unveils aUSDT, a digital asset combining the stability of gold with Web3 functionalities, backed by Tether Gold (XAUt).

Stablecoins Pose Risks to Financial Stability: Yellen

Stablecoins Pose Risks to Financial Stability: Yellen

The instability of the UST stablecoin has pushed the United States Treasury Secretary, Janet Yellen, to advocate for introducing a tighter regulatory framework to govern the entire stablecoin offshoot of the crypto ecosystem.

Terraform Labs Seeks Citadel Securities' Trading Data amid SEC Lawsuit

Terraform Labs Seeks Citadel Securities' Trading Data amid SEC Lawsuit

Terraform Labs has filed a motion against Citadel Securities seeking critical trading data for its defense in a lawsuit by the SEC. The case revolves around market destabilization allegations during the May 2022 Depeg event of TerraUSD stablecoin. The motion urges disclosure of trading strategies between March and May 2022, amidst indications of Citadel Securities' alleged intentions to short UST. Terraform Labs stresses the documents' importance in countering the SEC's fraud allegations, proposing a transfer to another court for a decision if necessary.

Terra Expands Stablecoin Reserve by Purchasing $100m worth of Avalanche Tokens

Terra Expands Stablecoin Reserve by Purchasing $100m worth of Avalanche Tokens

The Luna Foundation Guard (LFG), primarily focused on the Terra blockchain, expands its TerraUSD (UST) stablecoin reserve by purchasing $100 million worth of Avalanche tokens.

Acala Network's aUSD Depegged from Dollar Mark after Breach

Acala Network's aUSD Depegged from Dollar Mark after Breach

Acala Network's stablecoin was depegged from the dollar mark on Sunday following a breach. A vote was proposed to pause operations on Acala after it noticed configuration issues regarding the Horizon protocol, which affects its stablecoin aUSD.

UK Finance Ministry Proposes Safety Net Measures against Stalling Stablecoins

UK Finance Ministry Proposes Safety Net Measures against Stalling Stablecoins

The proposals presented by the British finance ministry are aimed to mitigate risks related to stablecoins amid the recent TerraUSD de-pegging fiasco.

Do Kwon Suggests Terra Hard Fork to Revive Troubled Network

Do Kwon Suggests Terra Hard Fork to Revive Troubled Network

Do Kwon, the CEO of Terraform Labs, believes hard forking the Terra blockchain will play an instrumental role in saving the troubled network.

Prosecutors Investigate Do Kwon with Ponzi Fraud Charges amid Terraform Labs Dissolvement

Prosecutors Investigate Do Kwon with Ponzi Fraud Charges amid Terraform Labs Dissolvement

South Korean Prosecutors are investigating Do Kwon if they will file Ponzi fraud charges against him following the Terra crash.

Will Terra’s UST and LUNA Crash Cause a Shift to ‘Cryptos that have Stood the Test of Time’?

Will Terra’s UST and LUNA Crash Cause a Shift to ‘Cryptos that have Stood the Test of Time’?

LUNA has left crypto enthusiasts' mouths agape because they could never imagine in their wildest dreams that one of the top ten cryptocurrencies could collapse to near-zero overnight.

LUNA and UST Crash Could Have Been Averted if Bitcoin Reserves were Used Earlier, Binance CEO Says

LUNA and UST Crash Could Have Been Averted if Bitcoin Reserves were Used Earlier, Binance CEO Says

The collapse of LUNA and UST, the native tokens of the Terra network, could have been avoided if the Luna Foundation Guard (LFG) had used its Bitcoin reserves earlier, according to Binance CEO Changpeng Zhao (CZ).

Jump Crypto Enters Confidential Phase in SEC vs. Terraform Labs Case

Jump Crypto Enters Confidential Phase in SEC vs. Terraform Labs Case

Jump Crypto has been granted access to confidential documents in the SEC vs. Terraform Labs case, allegedly implicating them in the TerraUSD devaluation and Terra's collapse.

NEAR Protocol to Wind Down Stablecoin USN, Allocating Funds for User Protection

NEAR Protocol to Wind Down Stablecoin USN, Allocating Funds for User Protection

The firm has announced plans to shut down the USN stablecoin to avoid greater risks.

Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law

Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law

In a move to protect investors, Japan’s parliament has passed a bill classifying stablecoins as digital money that must be connected to the nation’s currency, yen, or another legal tender.

LUNA Do Kwon's Trial Postponement Request Amid Extradition Delays

LUNA Do Kwon's Trial Postponement Request Amid Extradition Delays

Terraform Labs co-founder Do Kwon requests postponement of his U.S. trial, scheduled for January 29th, to mid-March due to extradition challenges in Montenegro. The SEC filed fraud charges against Kwon in February 2023, related to the collapse of TerraUSD and LUNA tokens.

Terra Resumes after Halting Blockchain Production to Prevent Governance Attacks

Terra Resumes after Halting Blockchain Production to Prevent Governance Attacks

Terraform Labs, the company which supports the Terra ecosystem, briefly halted the Terra blockchain for two hours on Thursday after a dramatic slump in LUNA and UST, before restarting later.

Parachain Auction Winner Acala Commits $250M to Fuel aUSD stablecoin Adoption on Polkadot

Parachain Auction Winner Acala Commits $250M to Fuel aUSD stablecoin Adoption on Polkadot

Parachain auction winner the Acala Network has launched a $250 million fund to fuel the adoption of Acala USD (aUSD) as the dominant stablecoin for the Polkadot and Kusama ecosystem respectively.

Prime Core Faces $8M Loss Amid TerraUSD's Collapse

Prime Core Faces $8M Loss Amid TerraUSD's Collapse

Prime Core Technologies, parent of Prime Trust, experienced an $8 million financial setback due to investments in TerraUSD, a stablecoin, leading to bankruptcy proceedings in August 2023, highlighting the cryptocurrency market's volatility.

VanEck Spearheads Entry into Stablecoin Market with Agora's AUSD Launch

VanEck Spearheads Entry into Stablecoin Market with Agora's AUSD Launch

Agora, backed by VanEck, announces the launch of AUSD, a USD-backed stablecoin, following a successful $12 million funding round led by Dragonfly.

Tether Regains $1 Peg

Tether Regains $1 Peg

Tether (USDT) has regained its 1-to-1 peg with the dollar after briefly dropping to 94.55 cents, its lowest since December 2020.

South Korea Launches “Emergency” Inspection of Crypto Exchanges Following Terra Crash

South Korea Launches “Emergency” Inspection of Crypto Exchanges Following Terra Crash

To boost investor protection following the recent collapse of LUNA and TerraUSD (UST) tokens, financial authorities in South Korea have beefed up crypto exchange inspections.

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