BlackRock backs Manta Network's wUSDM stablecoin security

#BlackRock BUIDL Fund has backed #MantaNetwork wUSDM, a #stablecoin deployed via #MountainProtocol on #MantaPacific This partnership aims to enhance the security and stability of wUSDM by leveraging BlackRock's custodianship and traditional financial expertise. The collaboration underscores efforts to integrate blockchain technology with established financial assets, potentially broadening wUSDM's appeal among investors.

Court Dismisses Some SEC Charges Against Binance and Changpeng Zhao

⚖️ The court has partially dismissed the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance, though most of the charges will still be reviewed.

The court granted the exchange’s motion to dismiss the regulator’s claims regarding secondary sales of the BNB token, the offering of the BUSD #stablecoin , and the Simple Earn product. 💰

👀 However, the review of SEC's charges related to the #ico and subsequent sales of BNB by the platform, the $BNB Vault program, failure to register, and non-compliance with anti-fraud regulations will continue. The same applies to the staking service on Binance.US.

🤷 The charges against former Binance head #changpengzhao , alleging that he violated the Exchange Act as a controlling person, remain in the case.
#IntroToCopytrading #altcoins

👉👉👉 #S&P Global joins Singapore's Project Guardian tokenization trials

S&P Global Ratings has joined the Monetary Authority of Singapore's (MAS) ambitious Project Guardian, which focuses on exploring asset tokenization's potential to enhance financial market liquidity and efficiency.

Project Guardian, initiated by MAS in May 2022, aims to establish standards and policy guidelines while fostering a commercially viable digital asset ecosystem. S&P Global will actively participate in fixed-income pilot projects within this framework. Andrew O'Neill, S&P #digitalassets analytical lead, emphasized their role in contributing risk perspectives to ensure robust risk mitigation in applying this technology across financial markets.

The project's current initiatives include conducting foreign exchange and bond transactions leveraging liquidity pools of tokenized assets, such as bonds and currencies. It also involves exploring repurchase agreements using digital bonds, developing frameworks for listing debt securities, and launching initial token offerings for digital tokens on the Singapore Exchange.

Project Guardian, initially involving JP Morgan, DBS Bank, and SGX Venture Marketnodes, now includes S&P Global as its 24th member. It comprises a diverse group of large banks, asset managers, and policymakers from the UK, Japan, Singapore, Switzerland, France, and the International Monetary Fund, alongside international associations.

A notable achievement of Project Guardian includes JP Morgan's execution of a live cross-border transaction in November 2022 using tokenized Singapore dollars and Japanese yen on the Polygon blockchain. This marked a significant milestone as the first major bank to conduct a decentralized finance trade on a public blockchain.

Emerging from the project is the deposit token, a #stablecoin supported by regulated intermediaries, praised for stability & its potential to integrate central bank digital currencies into banking systems, backed by the Swiss Bankers Association & JP Morgan.

Source - cointelegraph.com

#CryptoNewsCommunity

💥💥💥 #SolanaTrading Plunges 93% In 24 Hours: Where Did The $100 Billion Go?

Solana Faces Turmoil Over Inflated Stablecoin Volume Claims
Revelations and Impact

Solana has faced significant upheaval following reports that its daily #stablecoin volume has been overstated. Estimates plummeted from $75-100 billion to just $7 billion in one day, unsettling the crypto community and casting doubts on Solana's credibility as a DeFi leader.

Inflated Figures or Manipulative Practices?

- The drastic volume drop is attributed to wash trading, where investors buy and sell assets to artificially inflate trading volumes. This practice misleads investors about the platform's adoption and liquidity. The discrepancy suggests Solana's stablecoin market might heavily rely on such tactics, raising concerns about its organic growth.

Concerns Over #USDC✅

- USDC, a leading stablecoin pegged to the US dollar, is under particular scrutiny. Even with the revised $7 billion volume figure, up to 90% might still be inflated, further damaging Solana's reputation and potentially undermining investor confidence.

Investor Reaction and Market Volatility

- The sudden revelation has rattled investors, possibly triggering a sell-off and short-term market volatility. This comes at a sensitive time, just before the anticipated #EthereumETF deadline, which might have boosted Solana's DeFi activity.

Restoring Credibility

- To regain investor trust, Solana's development team must act swiftly and transparently. Despite the current turmoil, Solana's technological foundation remains strong, with one of the fastest and most scalable blockchains.

Looking Ahead

- The coming weeks are crucial for Solana. Addressing the data controversy and ensuring transparency will be key to weathering this storm and reclaiming its position as a leading DeFi contender.

Source - newsbtc.com

#BinanceSquareTalks

👉👉👉 Get Ready for a DeFi Summer: #Synthetix ’s 2 Million $ARB Giveaway Heats Up on Arbitrum

Synthetix, a leader in decentralized finance (DeFi), is expanding its presence on the Arbitrum network, a pivotal step in its evolution. This move is part of the Arbitrum Liquidity Incentive Program (LTIP), spanning 12 weeks until September 3rd, supported by 2 million ARB tokens. The initiative aims to boost liquidity, promote stablecoin adoption, and optimize the Perpetual Contracts (Perps) trading environment on Arbitrum.

Synthetix is renowned for its decentralized derivatives infrastructure, powering over 80 derivative markets through its proprietary Synthetix Perps system. Notably, Synthetix has facilitated over $50 billion in trading volumes and introduced delta-neutral liquidity provision, distributing more than $25 million in trading fees to participants.

Utilizing ARB Rewards for Ecosystem Growth

The 2 million ARB tokens will be strategically distributed as follows:

- 1,000,000 ARB allocated for liquidity provider incentives to stimulate trading activity.

- 900,000 ARB set aside for trading fee rebates, offering up to 75% discounts on fees paid.

- 100,000 ARB dedicated to bolstering #stablecoin liquidity, emphasizing their crucial role in sustainable DeFi models.

Participants can engage in various beneficial activities under this program. Liquidity providers can deposit #USDC✅ , $ETH , ARB, and soon Ethena USDe into Synthetix pools. Additionally, supplying liquidity to USDx/USDC pools on Ramses, a prominent Arbitrum DEX, will soon be possible.

These initiatives, including new Perps trading options, present compelling opportunities for active participants in the perpetual derivatives trading sector to join as launch partners. By integrating with supported platforms, participants can earn fee rebate rewards, fostering engagement and volume growth.

Source - blockchainreporter.net

#CryptoTrends2024 #BinanceSquareTalks

#Write2earn
RIPPLE LAUNCHES RLUSD STABLECOIN ON XRP LEDGER AND ETHEREUM
#Ripple #RLUSD #XRP #stablecoin $XRP

Ripple has officially launched a new stablecoin, RLUSD, on both the XRP Ledger and the Ethereum main chain. This strategic move, announced by Ripple CTO David Schwartz, aims to address the growing demand for stablecoins and leverage Ripple's expertise in cross-border payments.

RLUSD: Ripple’s Strategic Initiative
Ripple's decision to launch RLUSD on two major blockchain platforms – the XRP Ledger and Ethereum – reflects the increasing demand for stablecoins in the crypto market. David Schwartz's confirmation has provided much-needed clarity on the launch platforms, eliminating previous confusion among investors and stakeholders.

XRP Market Overview
Currently, XRP is priced at $0.49139, with a 24-hour trading volume of $5.052 million. Over the past month, the price has changed by -3.0%, +2.4% in the last seven days, and -1.8% in the past 24 hours.

At the start of 2024, XRP was around $0.6295. It dipped to $0.50233 on February 4th and peaked at $0.72301 on March 11th. Following this peak, the price declined and moved sideways for a few weeks. A sharp drop occurred on April 12th and 13th, bringing the price down to $0.47939. It rebounded to over $0.5566 on April 22nd but has since weakened, hitting a low of $0.4743 on June 14th. Today's price of $0.49139 is slightly above this recent low but remains below previous highs.

Ripple’s Position in the Stablecoin Market
The introduction of RLUSD marks a strategic move by Ripple to enhance its foothold in the growing stablecoin market. With the industry expected to see significant growth, Ripple’s dual-platform approach with RLUSD could offer substantial advantages to users and investors. As the market evolves, Ripple is well-positioned to play a pivotal role in shaping the future of stablecoins.

💥💥💥 Bitcoin ‘#Banana Zone’ is next if these 3 indicators play out

Bitcoin is poised to enter the "Banana Zone," a phase characterized by potentially significant price increases, according to Julien Bittel from Global Macro Investor (GMI). This transition, coined by GMI founder Raoul Pal, signals a period of anticipated bullish momentum.

However, analysts caution that several critical trends must reverse for a sustainable recovery:

1. Bitcoin Miner Selling: IT Tech from CryptoQuant highlights the need for decreased miner selling. Mining revenue has declined sharply since Bitcoin's peak at $73,679 in March, contributing to upward selling pressure.

2. Stablecoin Inflows: The absence of new #stablecoin issuances has reduced liquidity. Over two months, stablecoins held in exchange reserves dropped by nearly 10%, totaling $21.96 billion, impacting price stability.

3. Outflows from Spot #BitcoinETFs : Significant outflows from ETFs like Fidelity and Grayscale exacerbate selling pressure. Recent reports show substantial outflows, including $83.1 million from Fidelity and $62.3 million from Grayscale on June 18.

Bitcoin's current trading price is $64,966, reflecting a 2.35% decline over the past month and a 12% drop from its March peak of $73,679. Altcoins like Solana ($SOL ), Dogecoin ($DOGE ), and Shiba Inu ($SHIB ) have faced steeper losses recently, declining 8.23%, 11.67%, and 16.31% respectively over the past week.

While Bittel characterizes Bitcoin's recent price action as stagnant, suggesting a period of sideways movement, traders like Rekt Capital anticipate a potential price reversal with a break of the current downtrend line observed throughout June.

Source - cointelegraph.com

#CryptoTrends2024 #BinanceSquareTalks

BUSD(Binance USD)is #stablecoin pegged to US $ & issued by Binance
10 benefits of BUSD

Stability
Fast Transactions
Low transaction fees
Access to global markets
Easy to use
Widely accepted
Security
Transparency
Regulatory compliance
Hedge against market volatility

#BinanceFeed

Real World Assets (RWA) have been proposed to the #Aave community by the decentralized lending protocol #Centrifuge who intends to use them as security for the native #stablecoin GHO. An official proposal will be made as soon as the GHO coordinator is prepared.

#crypto2023

JUST IN: 🇦🇺 National Australia Bank launches #stablecoin fully backed by Australian dollars.

#crypto2023

So...

Exchange and #stablecoin FUD everywhere, media are calling #crypto dead, people are losing hope and lots of them sold everything and quit.

Social activity at 0, people argue in public.

Yes, this is the real #bearmarket . The bottom is close, or is it in already?🙏🏻

The New York Department of #FinancialFuture Services is ordering Paxos to stop issuing #Binance BUSD- the 3rd largest #stablecoin . #BNB #BUSD

After much anticipation from the #Cardano community, the network developers have finally launched the ecosystem’s overcollateralized #stablecoin called ‘#Djed .’

The stablecoin launch comes after its successful security audit and development testing for over a year

#crypto2023

#cryptonews : UK native #stablecoin $GBPT integrates into 18,000 ATMs nationwide 🇬🇧

#crypto2023

🔔 According To Reports, Ripple Is Creating A National Stablecoin For The Republic Of Palau.

#stablecoin #ripple #xrp #millennial

✅https://cryptocrunchapp.com/news/according-to-reports-ripple-is-creating-a-national-stablecoin-for-the-republic-of-palau

Decentralized stablecoins FRAX and DAI, which have significant exposure to Circle, both de-pegged and fell below $0.96. According to @karl_0x, FRAX has more than 80% exposure to Circle, DAI is close to 50%, while LUSD and RAI have no similar custody risk.

#crypto2023 #stablecoin

relatable😅
#cryptomeme #marketupdate #stablecoin