# Stablecoins



## noirua (29 January 2022)

Stablecoins are a different class of cryptocurrencies that are not volatile, and usually pegged to a real world currency like the US dollar. Stablecoins can be fiat collateralized, crypto collateralized or algorithmic in nature. Stablecoin use cases are exploding in nature, from day to day transactions to cross border remittances to payments within the crypto ecosystem.


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## noirua (30 January 2022)

PayPal stablecoin: What it could mean for payments
					

The impact a PayPal Coin has on the crypto industry depends on a number of factors, one of which is how PayPal overcomes regulatory hurdles.




					cointelegraph.com
				



PayPal senior vice president of crypto and digital currencies Jose Fernandez da Ponte said at the time that if the company plans to move forward with the stablecoin, it will do so while working closely with relevant regulators — an approach that could help the fintech firm avoid the wrath of United States senators that doomed Meta’s Diem cryptocurrency project.


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## noirua (31 January 2022)




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## Roller_1 (31 January 2022)

have you heard about the so called tether ponzi scheme. I don't have an opinion either way but it is an interesting read


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## noirua (1 February 2022)

Macro Guru Raoul Pal Says Investors Bullish on Terra (LUNA) and Polkadot (DOT), Predicts Strong Rally for Ethereum
31 January 2022
Https://dailyhodl.com/2022/01/31/macro-guru-raoul-pal-says-investors-bullish-on-terra-luna-and-polkadot-dot-predicts-strong-rally-for-ethereum/​


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## basilio (1 February 2022)

Roller_1 said:


> have you heard about the so called tether ponzi scheme. I don't have an opinion either way but it is an interesting read




I couldn't find this link. However I did find another source ? 

I previously put up posts which questioned whether tether is legit.  In effect if stable cons aren't "stable" then it is the equivalent of getting chips in casino and then suddenly discovering they are worthless.









						The Tether Ponzi Scheme
					

Tether is a fraud on the scale of Madoff or Enron and we’re in the middle of a bubble for the history books. Disclaimer: I have short positions on the cryptocurrency ecosystem, through MSTR a…




					www.singlelunch.com


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## Roller_1 (1 February 2022)

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						Bloomberg - Are you a robot?
					





					www.bloomberg.com
				




Try this one. 



basilio said:


> I previously put up posts which questioned whether tether is legit. In effect if stable cons aren't "stable" then it is the equivalent of getting chips in casino and then suddenly discovering they are worthless.




Exactly, what happens if everyone wants to cash in at once? But I must admit I know very little on the subject so take that with a grain of salt


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## Roller_1 (1 February 2022)

Roller_1 said:


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I'm not sure why it says are you a robot on the link. It works for me though


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## basilio (1 February 2022)

Roller_1 said:


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I believe the issue is that stable coins are supposed to be backed with dollars. Tether has around $70B plus of "coin"  which is used as the  back up currency for people trading in crypto.  

But they do not have  anywhere near the actual dollars of back up, their accounting systems are unbelievably flimsy and their management looks very suss.  People who have stakes in tether stablecoin are IMO on thin ice.

But that in fact will be many, many people trading in the currencies.


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## frugal.rock (2 February 2022)

Roller_1 said:


> I'm not sure why it says are you a robot on the link. It works for me though



It's just what any Bloomberg links seems to do.
Bizarre, but apparently normal, for whatever purpose.


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## noirua (3 February 2022)

Diem stablecoin co-founder praises Bitcoin for censorship resistance
					

Bitcoin will be the number one asset in the next two decades, Diem co-founder David Marcus said after Meta officially shut down its stablecoin project on Monday.




					cointelegraph.com
				



Despite his hard work on Meta’s stablecoin, Marcus has been a known fan of Bitcoin. According to some industry observers, Marcus is considered “one of the first top Silicon Valley executives to adopt and support Bitcoin.” In 2019, Marcus said that he was a “big fan of Bitcoin,” calling it “digital gold.”


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## noirua (7 February 2022)

Starving Afghans Use Crypto to Sidestep U.S. Sanctions, Failing Banks, and the Taliban
					

NGOs looking to provide emergency aid to Afghanistan are turning to cryptocurrency.




					theintercept.com
				



“We can’t get money through banks, but 88 percent of Afghan families have at least one smartphone,” said Kakar, who hopes to facilitate money transfers of afghanis, along with USDC, another stablecoin. He is in the process of setting up money-exchanging shops at which Afghans can obtain QR codes or trade crypto for hard currency.


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## noirua (10 February 2022)

Top Japanese bank MUFG introduces new stablecoin platform
					

Japanese financial giant MUFG officially introduced “Progmat Coin,” a proprietary blockchain-based platform for issuing and managing stablecoins.




					cointelegraph.com
				



As part of the project, the Japanese financial giant is also planning to introduce a stablecoin based on the Japanese yen, a spokesperson for MUFG confirmed to Cointelegraph.


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## noirua (12 February 2022)

Polkadot DOT Substrate Portal and Parachains




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						Polkadot/Substrate Portal
					






					polkadot.js.org
				





Very close to launching first
@pendulum_chain
testnet on Rococo. Our parathread ID is 2027 and observation.​​


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## noirua (11 March 2022)

e-Money is a perfect match to support Pendulum’s vision of connecting DeFi and fiat ecosystems. The European stablecoins eEUR, eCHF, eSEK, eNOK & eDKK issued by e-Money will be available on Pendulum, encouraging more users within the region to join the network and build existing DeFi services using their native currencies.

( I have direct and indirect interests in Pendulum )


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## noirua (20 May 2022)




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## noirua (20 May 2022)




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## noirua (31 May 2022)

Stablecoins: Definition, How They Work, and Types
					

Bridging the gap between fiat currency and cryptocurrency, stablecoins aim to achieve stable price valuation using different working mechanisms.




					www.investopedia.com
				



Stablecoins are cryptocurrencies the value of which is pegged, or tied, to that of another currency, commodity or financial instrument. Stablecoins aim to provide an alternative to the high volatility of the most popular cryptocurrencies including Bitcoin (BTC), which has made such investments less suitable for wide use in transactions.


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## noirua (6 June 2022)

DeFi community rallies behind PoolTogether to hit $1.4M NFT defense funding target
					

“Don't have a lot of words right now. Blown away by how the community has rallied around PoolTogether Inc and myself,” said...



					uk.advfn.com
				



It has taken the project just ten days to reach its funding goal of 769 Ether (ETH) or $1.4 million, signaling strong support from the DeFi community who are rallying against a lawsuit that some feel is an attack on the greater sector as a whole.


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## noirua (6 June 2022)

Stablecoins
DeFi, Libra and beyond


			Download Pdf


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## noirua (4 July 2022)

USD stablecoin premiums surge in Argentina following economy minister’s resignation
					

Argentine citizens have flocked to U.S. dollar-pegged stablecoins including USDT over the weekend amid a shaky economic outlook for the country.




					cointelegraph.com
				



Argentina has been in a long-standing battle against rising inflation and a continued decline of the peso against the U.S. dollar.


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## noirua (6 August 2022)

3. Bitcoin will become a unit of account on par with the U.S. dollar or Euro​Money has three main roles — acting as a means of payment, as a store of value and as a unit of account. Many cryptocurrencies, primarily stablecoins, are used as a means of payment. Bitcoin (BTC) and — to a much lesser extent — Ether (ETH) are used as stores of value among cryptocurrencies. But the United States dollar remains the main unit of account in the world. Everything is valued in dollars, including Bitcoin.

The real victory for sound money will be heralded when cryptocurrencies take over the role of a unit of account. Bitcoin is currently the main candidate for this role. Such a victory will signify a major mental shift.








						What will cryptocurrency market look like in 2027? Here are 5 predictions
					

Here are five predictions for how the cryptocurrency landscape could change over the next several years.




					cointelegraph.com


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## noirua (23 August 2022)

Stablecoin issuers hold more US debt than Berkshire Hathaway: Report
					

Stablecoin providers like Tether and Circle accumulated a large share in the Treasury market, beating major players like Berkshire Hathaway.




					cointelegraph.com


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## noirua (11 September 2022)

US Fed vice chair Michael Barr favors hard line on crypto, OCC acting head no friendlier
					

Two U.S. officials spoke at separate venues Wednesday but made similar points about the need they see to “protect” the banking industry and consumers from the supposed dangers of crypto.




					cointelegraph.com
				





> “I believe Congress should work expeditiously to pass much-needed legislation to bring stablecoins, particularly those designed to serve as a means of payment, inside the prudential regulatory perimeter.”


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## noirua (11 September 2022)

Binance: No plans to auto-convert Tether, though that ‘may change’
					

After announcing it would be ceasing trading support for USDC and two other stablecoins, crypto exchange Binance confirmed there are no plans to do the same for USDT.




					cointelegraph.com
				



On Tuesday, the crypto exchange surprised the market with the announcement it will cease trading support for United States dollar-pegged stablecoin USD Coin (USDC) on its platform, along with USDP Stablecoin (USDP) and TrueUSD (TUSD).


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## noirua (20 September 2022)

Pendulum aims to become a critical piece of Web3 infrastructure bridging fiat services with Polkadot and all of DeFi. Therefore, Polkadot stands to benefit from more integrations and railroads connecting it with multiple traditional finance and blockchain communities, like the Stellar<->Pendulum Spacewalk bridge for example. Compliant stable tokens can bring deep forex liquidity to the Polkadot ecosystem.


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## noirua (4 October 2022)

Centre | USD Coin
					

A stablecoin brought to you by Circle and Coinbase




					www.centre.io
				



Financially transparent​Centre stablecoins are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency. Issuers are required to regularly report their USD reserve holdings, and Grant Thornton LLP issues reports on those holdings every month.


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## noirua (15 November 2022)

Crypto.com CEO addresses whereabouts of $1B in stablecoins sent to FTX
					

CEO Kris Marszalek also explained that the firm's SHIB reserves are customer deposits.




					cointelegraph.com
				





> "Over a year, $1B was moved to FTX and we recovered all of this. We only had exposure of under $10 million when FTX shut down. And FTX was a trading venue where this is one of the few trading venues with decent liquidity for some of the coins like the ones I mentioned earlier."


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## noirua (8 December 2022)

Stablecoin framework is a near-term priority for Aussie regulators
					

The Council of Financial Regulators of Australia (CFR) is working on incorporating payment stablecoins into the regulatory framework for stored-value facilities.




					cointelegraph.com
				



The authors highlighted the particular fragility of algorithmic stablecoins, whose stability depends on investors’ confidence in the value of an unbacked crypto-asset, and cited the example of Terra collapse.


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