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Tether has had a difficult month, and rivals are eyeing its position as the top crypto "stablecoin." Here's how the contest plays out in the data. The Race to Replace Tether (In 3 Charts)
So if a stablecoin is backed by the U.S. dollar, the issuer might hold $100 million to support 100 million stablecoins. When a user wants to redeem their stablecoin, the issuer can draw from this ...
The stablecoin project Basis, which had received over $100 million in venture capital funding, shut down in December 2018, citing concerns about US regulation. [27] On 11 May 2022, Terra's stablecoin UST fell from $1 to 26 cents. [28] [29] The subsequent failure of Terraform Labs resulted in the loss of nearly $40B invested in the Terra and ...
USD Coin (USDC) is a cryptocurrency stablecoin [1] which is issued by Circle. It is pegged to the United States dollar , and is distinct from a central bank digital currency (CBDC). [ 2 ]
Terra is a blockchain that leverages fiat-pegged stablecoins to power a payment system. For consensus, the Terra blockchain uses a proof-of-stake codesign. [4] Several stablecoins are built atop the Terra protocol, [4] including TerraUSD, which was the third largest stablecoin by market capitalisation before its collapse in May 2022. [5]
Digital currency will help the US dollar maintain its power and underpin a new infrastructure for transactions and exchanges, Circle CEO and co-founder Jeremy Allaire told Yahoo Finance at the ...
Circle (legally Circle Internet Financial Limited) is a peer-to-peer payments technology company that now manages the stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts.
The stablecoin will give holders a daily interest rate of 0.5%. While there are other yield-bearing stablecoins on the market , they either operate outside the U.S. or without regulatory clarity.