Stability

On March 30, Ray Youssef, CEO and co founder of Paxful in the Bitcoin P2P market, said on Twitter that he promised to refund Paxful users who lost funds in Celsius Earn. Later this

According to reports, the MakerDAO community approved a comprehensive set of rules on Monday outlining how the $7 billion lending platform Maker will operate and make decisions in

According to reports, according to PeckShield monitoring, the Solana ecological algorithm stable currency project Cashio App has transferred about 3000 ETHs (approximately $5.1 mil

According to reports, the three major US stock indexes continued to rise, with the Nasdaq index expanding to 1%, the S&P 500 index up 0.7%, and the Dow index up 0.4%. Interpretation of this information: The recent surge in the US stock market is an indication that the economy is regaining stability after the upheaval caused by the COVID-19 pandemic. The Nasdaq index’s 1% expansion, the S&P 500 index’s 0.7% rise, and the Dow index’s 0.4% increase indicate that investors are confident about the future of the US economy. The…

On March 23, the Financial Research Office of the US Treasury Department recently released a research report stating that financial frictions may limit the potential benefits of digital currencies, whether publicly issued as central bank digital currency (CBDC) or privately issued as stable currency. In addition, when digital currencies are fully integrated, the volatility of the financial system will decrease and household welfare will improve, but the stability of the banking sector will be affected. Interpretation of this information: The US Treasury Department’s Financial Research Office released a report on…

According to reports, the Singapore Monetary Authority has stated that it is prepared to provide liquidity to ensure stability, and Credit Suisse customers will continue to have full access rights. The domestic financial system will continue to be closely monitored, and UBS’s main business in Singapore is not retail. The Credit Suisse incident will not affect the stability of Singapore’s banking industry. Currently, Credit Suisse continues to operate continuously in Singapore. During the takeover process, close contact will be maintained with the Swiss Financial Market Supervision Authority, Credit Suisse and…

It is reported that the bank incident in Silicon Valley continues to ferment. A spokesman of the Hong Kong Monetary Authority said that the HKMA has been closely following the development of SVB. According to the HKMA, the risk exposure of Hong Kong banks to SVB is very small and does not pose a risk to the stability of the Hong Kong banking system. The spokesman of the HKMA reiterated that Silicon ValleyBank did not operate banking business in Hong Kong and only had a local representative office. It is…

It is reported that TrueUSD tweeted that the Signature Bank has been closed by the US regulators, so TrueCoin suspended the TUSD casting and redemption business for a small number of Signature Bank users. The coinage and redemption of other users in the TrueUSD banking network have not been affected. Interpretation of this information: The recent tweet from TrueUSD informing that the US regulators have closed down Signature Bank has created a stir among TrueCoin users. In response, TrueCoin suspended the casting and redemption business for a few Signature Bank…

According to reports, Circle, the issuer of the USDC, issued a letter in response to the USDC’s anchor withdrawal, saying that if the reserve of US $3.3 billion of Silicon Valley Bank could not be returned 100%, Circle would use the company’s resources, not excluding the use of external capital, to make up for any shortage. Interpretation of this information: The recent news came up that Circle, which is the issuer of the USDC, has responded to the USDC’s anchor withdrawal. The letter issued by Circle stated that they would…

On March 12, CZ, the founder of Binance, said on the social platform that the bank is a risk for the stable currency supported by the legal currency. In response to netizens’ comments that we need crypto support, we replied that Do Kwon was actually right, but failed miserably in implementation. Interpretation of this information: The founder of Binance, CZ, recently shared his thoughts on the stability of cryptocurrencies in relation to the banks. He expressed his opinion that the banks pose a risk to the stable currency that is…

According to the report, according to the data of Coingecko, the short-term anchor release of USDC is currently down to US $0.978916, with a decline of 2.1% in the past 24 hours. Previously, Circle, the issuer of the US dollar stable currency, disclosed on social media that Silicon Valley Bank was one of its six banking partners, responsible for jointly managing about 25% of the cash reserves of the USDC. Interpretation of this information: The report mentions that USDC, one of the stablecoins in the cryptocurrency market, has experienced a…

According to reports, Anatoly Yakovenko, the co-founder of Solana, released a “plan to improve the network upgrade”, which will improve the Solana upgrade process, form a confrontation team, improve the restart process, and focus on stability. Interpretation of this information: Anatoly Yakovenko, the co-founder of Solana, has announced a new plan to enhance the network upgrade process. Solana is a high-performance blockchain protocol that allows the creation of decentralized applications and marketplaces. The platform has been gaining a lot of attention due to its scalability and speed, but it has…

On February 13, Paxos said that the existing BUSD would be fully supported and redeemed at least until February 2024. Interpretation of this information: Paxos, a New York-based financial institution that specializes in blockchain technology, announced on February 13 that the existing BUSD (Binance USD) would be fully supported and redeemed until at least February 2024. BUSD is a stablecoin pegged to the value of the US dollar, which means that for every BUSD issued, there is an equivalent amount of US dollars held in reserve by Paxos. This announcement…