Think stablecoins are just a vehicle for anonymous crypto trading? A new survey from Castle Island Ventures would suggest otherwise. In a report sponsored by Visa, the firm showed that crypto users in five developing countries – Nigeria, India, Indonesia, Turkey, and Brazil – are turning to stables largely as …
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Despite these concerns, Tether has recently emerged as one of the most profitable crypto companies globally, reporting massive quarterly profits. In a letter aimed at protecting consumers, addressed to Washington Governor Jay Inslee, Consumers’ Research criticized Tether for failing to conduct an audit to prove that its USDT stablecoin is …
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Consumer protection group Consumers’ Research released a report criticizing the lack of transparency around stablecoin issuer Tether’s U.S. dollar reserves and calling it a “disaster for consumers waiting to happen.” The report claims the main issue is Tether’s lack of a full audit from a reputable accounting firm of the …
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Coinbase launched the cbBTC in response to issues surrounding BitGo’s Wrapped Bitcoin (WBTC). It is available on Ethereum and Coinbase’s Base network and can be used in various decentralized finance (DeFi) platforms. According to Justin Sun, cbBTC marks “a dark day for Bitcoin,” fronting risks to DeFi because of centralized …
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Justin Sun Lambastes Coinbase’s ‘Central Bank Bitcoin’ Amid WBTC Controversy
by Martin Youngby Martin YoungIn a post on X on Sept. 12, Justin Sun let rip at Coinbase, stating that its wrapped Bitcoin launch was a “dark day for BTC.” Sun said that cbBTC lacks proof-of-reserve, has no audits, and the company can freeze anyone’s balance anytime. He said it essentially is “just trust me,” …
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The number of addresses holding Tron’s native token TRX for the long term has skyrocketed over the past 12 months, according to data from the blockchain intelligence firm IntoTheBlock. A tweet from the market analytics platform revealed that the Tron network currently has nearly 90 million long-term holder addresses, representing …
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Coinbase’s launch of its wrapped Bitcoin product, cbBTC, has ignited a fierce debate within the industry, with Tron (TRON) founder Justin Sun lambasting the new offering, calling it a “dark day for BTC” and warning of significant risks to decentralized finance. Speaking with Decrypt, however, a Coinbase spokesperson stood firm …
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Solana’s Pump.Fun Has Launched Millions of Tokens—Fewer Than 100 Are Worth Much at All
by Ryan Gladwinby Ryan GladwinSolana meme coin factory Pump.fun has failed to keep more than 100 tokens above the $1 million market cap milestone. This comes as the protocol starts to fall out of favor after its summer-time high. A total of 89 Pump.fun coins are currently above a market cap of $1 million, …
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Stablecoins are increasingly used for everyday finances such as savings, currency conversion and cross-border payments in emerging markets, according to a Thursday report by digital asset investment firm Castle Island Ventures and hedge fund group Brevan Howard. Based on a survey of more than 2,500 cryptocurrency users in Brazil, Nigeria, …
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Coinbase has officially launched its wrapped Bitcoin token, cbBTC, on its layer-2 network, Base, and Ethereum mainnet, according to a Sept. 12 statement. The new product comes around a month after Coinbase teased it on the social media platform X. cbBTC According to Coinbase, cbBTC is an ERC-20 token fully …