Circle’s USDC Stablecoin Fully Dollar Backed, Says Latest Auditor’s Report

Crypto finance startup Circle’s USDC stablecoin was fully backed with fiat reserves at the close of 2018, according to auditing firm Grant Thornton. The auditor published an attestation report on Wednesday, stating that Circle had $251,211,209 held in custody accounts as of Dec. 31, 2018, against the 251,211,148 USDC tokens in circulation at the time. Goldman Sachs-backed […]

Genesis, BitGo Team Up to Enable High-Frequency Crypto Trading

Cryptocurrency custodian BitGo and over-the-counter (OTC) specialist Genesis Global Trading have teamed up on a service designed to make Wall Street feel more comfortable dipping a toe in the market. Announced today, the tie-up means institutional investors storing digital assets with BitGo can use Genesis’ platform to execute trades at the speed they are accustomed […]

Game of Coins: Inside the Paxos-Gemini Stablecoin Discount War

The rise of new stablecoins was a defining story in the second half of 2018, but the reality is that exclusive discounts partly fueled their growth. Dollar-backed stablecoins are generally supposed to be worth $1, whether it’s Gemini’s GUSD or Paxos’ PAX. But according to four sources with knowledge of these cryptocurrency exchanges, both stablecoin-issuers privately […]

Pablo Escobar’s Brother Says New Crypto Will Fund ‘Impeach Trump’ Effort

Having allegedly been blocked from fundraising on GoFundMe, the brother of deceased drug lord Pablo Escobar has launched a cryptocurrency apparently targeting the impeachment of U.S. President Donald Trump. Revealed on a new website, escobartrump.org, the new token has been dubbed the ESCOBAR and is an ethereum ERC-20-based stablecoin it claims will be pegged to the U.S. […]

The Struggles and Successes of Introducing Crypto to the Unbanked: A Social Experiment in Colombia

News How cryptocurrency can help the unbanked has been a hot topic over the past 12 months. It is a laudable goal, but one that it is by no means easy to accomplish. One tech enthusiast and stablecoin startup employee, Steven Gilbert, experienced the struggles – and successes – of attempting to do so when […]

The Daily: Binance Adds Stablecoin Pairs, Tzero Patents Integration Platform

The Daily Cryptocurrency exchange Binance is opening trading for three stablecoin pairs. Also in Tuesday’s Daily, Overstock’s Tzero has patented a solution to integrate traditional and cryptocurrency trading systems, Morgan Creek founder Jason Williams offers his Lamborghini for bitcoin, and in Brazil, crypto investors are looking to buy vaults to safely store their digital assets. […]

Coinfloor to Relaunch Crypto Derivatives Exchange With Stablecoin Futures

CoinfloorEX, a bitcoin futures market, has been spun off from its parent company Coinfloor Group and will relaunch next month, offering a novel derivative product: stablecoin-to-stablecoin futures. The new entity, renamed as CoinFLEX (Coin Futures and Lending Exchange), will focus on Asian retail customers and offer 20x leverage. The new futures contract will allow traders to exchange tether […]

Coinbase Exec Leaves Crypto Exchange for Stablecoin Issuer

Another alumnus of Coinbase has left the cryptocurrency industry unicorn for a smaller startup. Vaishali Mehta, who worked as a senior compliance manager at Coinbase from November 2017 to November 2018, joined TrustToken last month as head of compliance, according to her LinkedIn profile. TrustToken, the company behind the TrueUSD stablecoin, confirmed the hire. Neither Coinbase […]

The Next Big Thing or a Total Monstrosity? Four Experts Weigh in on Stablecoins

News Stablecoins have long divided opinion in the crypto community, with some believing they’re needed to gradually convert the masses away from fiat, whereas others have grave concerns about these dollar-pegged assets. Four experts – Gabriel Cardona, Roger Ver, Miko Matsumura, and Vin Armani – recently shared very different stablecoin opinions on the Bitcoin.com podcast.  […]