2022 has been one of the most chaotic, volatile, and financially brutal years, not only for the digital asset industry, but also for wider financial markets.

Binance, the world's largest cryptocurrency exchange platform by daily volume, temporarily stopped processing USDC withdrawals due to inadequate USDC reserves on the platform, <a href="https://twitter.com/cz_binance/status/1602579499903852544">according</a> to Binance CEO Changpeng Zhao.

Tether (<a href="https://cryptoslate.com/coins/tether/">USDT</a>) said it would remove its secured loans in its reserves by 2023, according to a Dec. 13 blog <a href="https://tether.to/en/tether-addresses-fud-around-secured-loans-reveals-plans-to-reduce-these-to-zero-in-2023/">post</a>.

Binance CEO Changpeng Zhao stepped in to reassure clients after the world's biggest crypto exchange experienced more than a billion dollars of outflows.

CZ V SBF: Crypto Titans in Twitter spat; tether launches offshore Chinese yuan (Cnh₮); Japan, South Korea and UK want to police stablecoins; understand how Merkle trees benefit blockchains.

The top Japanese financial regulator has stated that it intends to police “algorithmic stablecoins.” And the South Korean central bank also wants the power to regulate fiat-pegged tokens.

In what may signal the beginning of a new phase in the battle for stablecoin dominance, Coinbase, the world’s second-largest crypto exchange by trading volume, is now encouraging its users to swap from Tether's USDT to&nbsp; Circle's USDC with zero-fee trades.

USDC stablecoin could get indirect access to the Federal Reserve’s risk-free liability, as its partner BlackRock is set to apply for the Fed’s reserve repo (RRP) program.

Paolo Ardoino, the Genoese behind Tether is also a son of his homeland: shy, soft-spoken, but a great capitalizer of resources.

Membrane Finance, a Finnish fintech building a European alternative to the USD stablecoin, has been granted an Electronic Money Licence by the country's regulator and picked up €2 million in seed funding.