A Group of Four Men Controlled 86% of Stablecoin Issuer Tether Holdings Limited As of 2018
According to the documents, Tether was built by the joint efforts of ex-plastic surgeon Giancarlo Devasini and former child actor and crypto entrepreneur Brock Pierce. In September 2014, Tether Holdings was incorporated in the British Virgin Islands.
Euro Stablecoin Launched in Finland, Claims to Be First Approved in the EU
Finnish company Membrane Finance has released a fully-reserved stablecoin backed by the euro, according to a Feb. 2 blog post from the company. The company is licensed by the Finnish Financial Supervisory Authority (Fin-FSA) and claims that the new ”EUROe” coin is “the first and only EU-regulated crypto stablecoin.”
Cardano Stablecoin DJED Now Featured on CoinMarketCap and Coingecko
DJED and SHEN are now listed on CoinMarketCap and Coingecko
Cardano’s Djed Stablecoin Locks US$10 Mln in Reserves on Its First Day
Djed, a Cardano-based algorithmic stablecoin, has collected over US$10 million in its reserves in the first 24 hours since it was launched on Tuesday.
Tether Denies It Borrowed $2B From Celsius, As Described in Court Report
Stablecoin issuer Tether is pushing back against assertions that it borrowed funds from failed crypto lender Celsius.
Tether Denies Borrowing from Bankrupt Celsius
Tether’s (USDT) chief technology officer Paolo Ardoino has denied that the stablecoin issuer took a loan from Celsius in a Jan. 31 tweet. Ardoino responded to a Twitter thread on the Celsius examiner report that said that Tether, alongside Three Arrows Capital and Alameda Research, could exceed their credit limits with the bankrupt lender. The report claimed that the stablecoin issuer had over $2 billion in exposure to Celsius and was considered an “existential threat” to the lender’s financial health. It added that Celsius’ couldn’t survive a Tether default because its capital was insufficient. (cryptoslate)
UK Native Stablecoin Integrates Into 18,000 ATMs Nationwide
A partnership between Poundtoken and BitcoinPoint will make the country's first 100% backed GBP stablecoin ($GBPT) accessible to retail consumers via a network of 18,000 ATMs across the United Kingdom. The move marks another step towards the U.K. becoming a "crypto hub" and is in line with the government's push to use stablecoins for wholesale settlements.
Moody’s to Introduce Scoring System for Stablecoins
Leading financial institution Moody’s Corporation is reportedly working on a scoring system for up to 20 stablecoins, assessing the quality of their reserves attestation, Bloomberg reported on Jan. 26.
Stablecoin Economy Sheds Another $3 Billion in 44 Days
The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar’s market capitalization slid by 1.5%.
Binance Stablecoin BUSD Loses $2 Billion in Market Cap in a Month
At its low on Wednesday this week, BUSD’s market cap touched $15.3bn, down more than $2bn compared to the $17.5bn market cap it had on the same date in December.
