StablecoinSaga
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Jump Crypto has been granted permission to confidentially submit specific information to the SEC
A U.S. court has decided that Jump Crypto, identified as a "third party" in the SEC's ongoing case against Terraform Labs, is permitted to confidentially submit specific information to the court, as outlined in a November 28 order.
In February, the SEC filed a lawsuit against Terraform Labs and its founder and former CEO, Do Kwon, alleging the sale of unregistered securities and involvement in fraud that raised billions of dollars. The associated stablecoin, TerraUSD (UST), drastically lost its value in May 2022, and it is now valued at just $0.04 under the ticker USTC.
Judge Jed S. Rakoff clarified that the court has the authority, at its discretion, to make these filings public in the future. If this occurs, Jump Crypto's legal team will be notified, giving them the opportunity to raise objections.
While Jump Crypto is not a defendant in the Terraform Labs case, the SEC believes that Jump played a role in the collapse of the UST stablecoin. According to an October letter from Terraform Labs' defense, the SEC alleges that Jump Crypto was involved in a scheme to artificially boost the price of UST by purchasing substantial amounts of the unstable stablecoin when it deviated from dollar parity in May 2021. Terraform Labs denies these allegations, asserting that Jump Crypto's trading activities did not lead to UST's recovery in 2021 and that the decline in May 2022 resulted from deliberate attempts to short UST. They claim to have intervened publicly to counteract these actions.
#Roarstock #CryptoLegalities #TerraformLabsSEC #JumpCryptoCase #StablecoinSaga
$USTC $LUNC $LUNA
In February, the SEC filed a lawsuit against Terraform Labs and its founder and former CEO, Do Kwon, alleging the sale of unregistered securities and involvement in fraud that raised billions of dollars. The associated stablecoin, TerraUSD (UST), drastically lost its value in May 2022, and it is now valued at just $0.04 under the ticker USTC.
Judge Jed S. Rakoff clarified that the court has the authority, at its discretion, to make these filings public in the future. If this occurs, Jump Crypto's legal team will be notified, giving them the opportunity to raise objections.
While Jump Crypto is not a defendant in the Terraform Labs case, the SEC believes that Jump played a role in the collapse of the UST stablecoin. According to an October letter from Terraform Labs' defense, the SEC alleges that Jump Crypto was involved in a scheme to artificially boost the price of UST by purchasing substantial amounts of the unstable stablecoin when it deviated from dollar parity in May 2021. Terraform Labs denies these allegations, asserting that Jump Crypto's trading activities did not lead to UST's recovery in 2021 and that the decline in May 2022 resulted from deliberate attempts to short UST. They claim to have intervened publicly to counteract these actions.
#Roarstock #CryptoLegalities #TerraformLabsSEC #JumpCryptoCase #StablecoinSaga
$USTC $LUNC $LUNA
📊#Binance’s VIP stablecoin borrow rates mirror those on #decentralized protocols 👀
#StablecoinSaga #RATES
#StablecoinSaga #RATES
In this post, we'll unravel the mysteries behind stablecoins and explore their pivotal role in the cryptocurrency market. Whether you're a seasoned trader or a crypto newbie, understanding stablecoins is crucial for navigating the volatile waters of digital assets.
What are Stablecoins?
🔍 Explore the definition and purpose of stablecoins.
📉 Learn how stablecoins maintain a stable value compared to traditional cryptocurrencies.
Types of Stablecoins:
💸 Discover the different categories: fiat-collateralized, crypto-collateralized, and algorithmic stablecoins.
🔄 Understand how each type operates and their respective advantages.
Popular Stablecoins:
🌐 Explore widely-used stablecoins like USDT, USDC, and DAI.
📊 Examine their market significance and usage in the crypto space.
How Stablecoins Work:
🛠️ Uncover the mechanics behind stablecoin stability.
📈 Learn about the role of smart contracts, collateral, and algorithms in maintaining value.
Use Cases:
💼 Delve into practical applications of stablecoins, from trading to remittances.
🤔 Understand how stablecoins provide a bridge between traditional finance and the crypto realm.
Risks and Considerations:
⚠️ Explore potential risks associated with stablecoins.
🧐 Learn about regulatory considerations and industry challenges.
Conclusion:
🔮 Wrap up your stablecoin journey with a solid understanding of their importance in the crypto ecosystem.
📚 Access additional resources and stay informed about the evolving landscape of stablecoins.
Whether you're a crypto enthusiast looking to deepen your knowledge or a newcomer seeking clarity, this beginner's guide to stablecoins on Binance Blog has you covered. 🌐💡
Read More 👉🏻 Stable Coins Guide
#StablecoinSaga #CryptoGuide #BinanceBlog
What are Stablecoins?
🔍 Explore the definition and purpose of stablecoins.
📉 Learn how stablecoins maintain a stable value compared to traditional cryptocurrencies.
Types of Stablecoins:
💸 Discover the different categories: fiat-collateralized, crypto-collateralized, and algorithmic stablecoins.
🔄 Understand how each type operates and their respective advantages.
Popular Stablecoins:
🌐 Explore widely-used stablecoins like USDT, USDC, and DAI.
📊 Examine their market significance and usage in the crypto space.
How Stablecoins Work:
🛠️ Uncover the mechanics behind stablecoin stability.
📈 Learn about the role of smart contracts, collateral, and algorithms in maintaining value.
Use Cases:
💼 Delve into practical applications of stablecoins, from trading to remittances.
🤔 Understand how stablecoins provide a bridge between traditional finance and the crypto realm.
Risks and Considerations:
⚠️ Explore potential risks associated with stablecoins.
🧐 Learn about regulatory considerations and industry challenges.
Conclusion:
🔮 Wrap up your stablecoin journey with a solid understanding of their importance in the crypto ecosystem.
📚 Access additional resources and stay informed about the evolving landscape of stablecoins.
Whether you're a crypto enthusiast looking to deepen your knowledge or a newcomer seeking clarity, this beginner's guide to stablecoins on Binance Blog has you covered. 🌐💡
Read More 👉🏻 Stable Coins Guide
#StablecoinSaga #CryptoGuide #BinanceBlog
🚨 #Binance has suspended trading of $AEUR stablecoin due to abnormal volatiliy
#AEUR is up 158%
Guess the bull market is so back, even the 'stable' coins are pumping 😅
#BullMarketIsBack #StablecoinSaga
#AEUR is up 158%
Guess the bull market is so back, even the 'stable' coins are pumping 😅
#BullMarketIsBack #StablecoinSaga