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Cryptocurrency4 hours ago (Feb 27, 2022 09:00PM ET)
© Reuters.
Stablecoins used to be a sort of taboo subject in the crypto community after it became common practice to criticize Tether’s reserve backing. Are you really a seasoned crypto investor if you haven’t gone down the (USDT) rabbit hole? Some of those concerns were finally quelled in May 2021 when Tether passed an assurance test by disclosing its reserves for the first time. For some onlookers, the reserve breakdown created more questions than answers due to the stablecoin issuer’s oversized exposure to commercial paper.
The stablecoin market has grown leaps and bounds over the past four years. While Tether remains firmly in the lead, Circle Internet Financial has surged through the rankings with the success of USDC Coin (USDC). TerraUSD (UST) is also a top player, having just received significant backing from major venture funds.
Circle’s valuation doubles to $9B following revised merger agreement with Concord
Luna Foundation Guard raises $1B to form UST reserve denominated in
Tether slashes commercial paper by 21% in latest reserves attestation
London Stock Exchange acquires cloud-based technology provider Tora in $325M deal
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