Representative Ted Budd of North Carolina, a member of the House Financial Services Committee and Congressional Blockchain Caucus, has urged lawmakers to embrace decentralized innovation.Read more
Solana-based cross-chain exchange Saber raised $7.7 million in a seed funding round.
The platform launched last month and enables the cross-chain exchange of stablecoins and wrapped assets. Saber Labs, the development team behind Saber, announced the funding round on July 28.
The recent report about Tether (USDT) facing a criminal probe in the US, published by Bloomberg and covered by CryptoSlate, received a snappy response, in which the issuers of the largest stablecoin claimed the alleged accusations don’t constitute news but are published as clickbait.Read more
The firm behind the world’s leading stablecoin, Tether, is facing more regulatory pressure this week with U.S. financial watchdogs scrutinizing the composition of its reserves.Read more
Speaking to Forbes, Congressman Tom Emmer dismisses the notion of a Fed Coin showdown with cryptocurrency. Saying the crypto movement is too strong to be crushed, even by the Federal Reserve.
In recent times, authorities have ramped up talk of introducing central bank digital currencies (CBDCs).
US Feds want to tame ‘wildcat’ stablecoins like Tether and USDC
A research paper titled “Taming Wildcat Stablecoins,” published in the Social Science Research Network (SSRN) by a professor of finance at Yale, Gary Gorton, and the US Federal Reserve attorney Jeffery Zhang, urges supervision of stable
Tether (USDT) FUD surrounding the stablecoin’s issuance could have a new chapter in the form of criminal charges, which would mark a major development in the US government’s crackdown on crypto.Read more
The U.S. Department of Justice has opened a criminal probe against Tether Limited.
The investigation is focusing on bank fraud committed during the company’s early years of operation.
There will be an official audit of the world’s most popular stablecoin Tether within months according to the project’s general counsel.
An audit for the world’s third-largest digital asset has been awaited for several years and increased regulatory pressure appears to have accelerated the process.
Triggered by this week’s sell-offs, Jim Cramer expressed his concerns that Tether, as “the Achilles heel” of cryptocurrency, brings further risk exposure to markets.Read more