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Stablecoin
Origin is relaunching its yield-generating stablecoin following a November attack that drained OUSD holders of $7 million. Starting now, users can once again exchange USDC, USDT and DAI for OUSD. As CoinDesk reported in September, the smart contract powering OUSD was not yet audited. OUSD allowed users to deposit the most popular stablecoins that would...
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The U.S. government is pursuing a civil forfeiture claim on more than 300,000 units of the tether (USDT) cryptocurrency after they were reported stolen in a hack earlier this year. The funds, co-owned by Shixuan Cai and business partner Lin Jian Chen, were later frozen by operator Tether Ltd. after Cai reported the theft to...
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USDC is being added to its third blockchain: Stellar. Announced Thursday during the Stellar Development Foundation’s quarterly review call, the addition of the dollar-backed stablecoin seeks to bolster Stellar’s standing as a cross-border payments network. “We are focused on creating equitable access to the financial system by building a global network that delivers services to...
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Bitcoin has performed well in the face of a bleak news cycle while stablecoin assets in the crypto ecosystem continue to grow. Bitcoin (BTC) trading around $10,515 as of 20:00 UTC (4 p.m. ET). Slipping 0.44% over the previous 24 hours. Bitcoin’s 24-hour range: $10,362-$10,667 BTC above its 10-day moving average but below the 50-day,...
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Welcome to Opinionated, a new podcast featuring CoinDesk’s leading columnists and contributors. I’m your host, Ben Schiller, CoinDesk’s opinion editor. On this week’s show, we’re joined by Nic Carter, cofounder of Coin Metrics and partner at Castle Island Ventures. Nic discusses this year’s $20 billion surge in USD-backed stablecoins (what he calls “crypto-dollars”) and the...
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Peer-to-peer commerce company Origin is announcing Origin Dollars, or OUSD, a stablecoin whose reserves leverage decentralized finance (DeFi) so that balances grow wherever it resides, no staking or account required. “One thing we’ve all seen in DeFi is a much smaller audience gets it. The barrier to entry is much higher,” Matthew Liu, Origin’s cofounder,...
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Curve, the robot decentralized exchange for stablecoins, is kicking off a new dividend program for holders of its governance token, CRV. “We’ll start moving towards a cashflow-based protocol because the numbers are too sweet to not do it,” Curve founder Michael Egorov told CoinDesk in an email. In order to participate in governance, users need...
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The folks building the next generation of digital money in Switzerland understand the need to collaborate. Stablecoins, digital tokens pegged one-to-one to the Swiss franc (CHF) in this case, are a prime example. SEBA Bank and Sygnum Bank, the two B2B players that hold banking licenses from the Swiss Financial Market Supervisory Authority and that...
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