Tag Archives: Stablecoin

Stablecoin introduced by Trump’s Crypto Venture

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World Liberty Financial, a cryptocurrency company launched by Donald J. Trump and his sons, announced Tuesday that it plans to deepen the president’s financial ties with crypto as his administration eases industry enforcement.

Stablecoin is known as the company USD1 I wrote it Social media posts do not reveal when it will be sold. A common form of cryptocurrency, Stablecoins is designed to maintain a constant value of $1, and is useful for many types of crypto transactions.

“There are no games, there are no gimmicks, there are just real stability,” says World Liberty Financial Posted With an X account.

Stablecoin is the fourth digital currency sold to the public last year by Trump and his business partners. World Liberty already offers a cryptocurrency called WLFI. This month, the world’s freedom announcement Of these digital coins, they sold $550 million. Business entities associated with Trump have received a 75% reduction in sales.

A few days before taking office, Trump began selling so-called memo coins. This is a kind of digital currency based on online jokes and celebrity mascots. Melania Trump put his memo coins to the market the same weekend.

Trump has aggressively entered the crypto market as his administration eases enforcement and rolls back regulations. According to government ethics experts, his efforts to benefit from industry oversee the vast amount of conflicts of interest that is virtually unprecedented in American history.

World Liberty’s Stablecoin adds to the nasty knot of business conflict. Congress is considering legislation that regulates the ridiculous idiots that could reach Trump’s desk by the end of the year. Trump gave a speech at this month’s crypto conference. Called Regarding Stablecoins’ “simple common sense rules,” he says, “we will expand control of the US dollar.”

Stubcoins are usually supported by assets stored by the coin issuer. Every time a user redeems a Stablecoin, they can go to the issuer and exchange digital coins for cash equivalents.

In an announcement Tuesday, World Liberty said it will use short-term US Treasury, dollar deposits and other cash equivalents to back up stubcoins.

“We provide digital dollar stability that allows sovereign investors and key institutions to confidently integrate into a seamless, secure cross-border trading strategy,” said Zach Whitkoff, one of the founders of World Liberty and the son of Steve Wickoff, Trump’s Envoy to the Middle East.

Trump, a former crypto skeptic, last year embraced digital currency on the campaign trail and committed to transforming the United States into the “crypto capital of the planet.” The industry has spent tens of millions of dollars funding Congressional candidates who supported Trump and spoke favorably about the code.

In September, Trump began World Freedom with his sons, starting Steve and Zach Witkoff. They entrusted two little-known entrepreneurs with virtually no track record in the industry, Chase Hero and Zach Falkman, to run the business day by day.

World Liberty initially promised to create a cryptographic platform that allows users to borrow and lend digital currency. However, so far, the company has not launched any products other than WLFI and Stablecoin.

The company has set out on something like a purchase, bringing together a stockpile of etheric cryptocurrency and lesser-known coins like SUI and Link.

In a recent panel, Hero I said That world’s freedom was creating a “strategic reserve” of tokens. He did not explain the ultimate purpose of stockpiling.

The idea had a clear echo of the creation of a US stockpile of Bitcoin, one of Trump’s initiatives at the White House.

Source: www.nytimes.com

Increase in Stablecoin Supply Indicates Strong Capital Influx into Crypto Market – Blockchain News, Analysis, TV, Employment Opportunities

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Written by Enoch Muthembei

Over the past week, Bitcoin has experienced a bullish rally, topping the coveted $52,000 mark and recouping almost all the losses incurred since the FTX collapse. The milestone is crucial for an industry grappling with a prolonged bear market.

Consistent with Bitcoin’s upward trajectory, there has been a notable increase in the total market capitalization of major stablecoins, including: USDT, USDC, BUSDand Big. The market capitalization of these four stablecoin giants increased from $131.232 billion to $138.993 billion from February 13th to February 20th, indicating growing demand.

Stablecoins play a vital role as a bridge between fiat and crypto markets, making up the majority of crypto trading pairs and, as a result, becoming a major source of funding. market liquidity. The rise in market capitalization highlights the increasing adoption of stablecoins, solidifying their position as the preferred medium for engaging with cryptocurrencies.

Looking at the broader picture, we can see that the supply of the top four stablecoins has surged by 3.475% in the past 30 days. While a variety of factors may be contributing to this increase, it is primarily due to the overall market movement of assets into stablecoins, whether fiat or cryptocurrencies, in anticipation of future trading activity. It shows the trend. This suggests that the market is gearing up for a quick entry or exit from Bitcoin.

Supporting this trend is the notable rise in the stablecoin supply rate (SSR). SSR is a key metric that measures stablecoin supply relative to Bitcoin’s market capitalization, indicating the depth of market liquidity and potential purchasing power. A rise in SSR means a larger proportion of stablecoins compared to Bitcoin, and if these stablecoins are converted to Bitcoin, this could impact Bitcoin price growth.

SSR that exceeds the top bollinger bands This represents an unusual surge in potential purchasing power in February 2024. This suggests that investors may be poised to migrate to Bitcoin and other cryptocurrencies in line with the Bitcoin price increase observed since January 2024.

The soaring price of Bitcoin, combined with the expansion in market capitalization and supply of major stablecoins, signals a significant influx of capital into the crypto market. For stablecoins, these trends highlight their important role in the ecosystem, serving not only as a safe haven during times of volatility, but also as an important means of putting money into Bitcoin. .

The trends observed last week highlight the interconnectedness of the stablecoin market and Bitcoin and highlight how fluctuations in stablecoin supply and market capitalization act as indicators of impending market activity. I am.

Source: the-blockchain.com

Ondo Finance Introduces Real-World Assets and High-Yield Stablecoin USDY to Sui on Blockchain Platform

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Grand Cayman, Cayman Islands, February 7, 2024, Chainwire

Ondo’s upcoming integration of Sui will provide native access to new tokenized assets such as on-chain treasuries, securities, and stablecoins.

Sui, a Layer 1 blockchain that has seen explosive growth since its launch eight months ago, today announced that Ondo Finance is expanding into the Sui ecosystem. With this expansion, Sui Network’s first native dollar-denominated token (including stablecoins and interest-bearing stablecoin alternatives) will be available in the form of Ondo USD Yield or “USDY” (a U.S. Treasury-backed interest-bearing token issued by Ondo).

Ondo’s expansion to Sui further builds on Sui’s ferocious DeFi momentum and demonstrates the growth and demand for financial applications and native on-chain functionality. Sui’s DeFi volume has increased over 1200% since October, and Sui recently ranked in the top 10 of his DeFi ecosystem as measured by TVL.

Ondo Finance is the third largest platform bringing tokenized derivatives of real-world assets onto public blockchains, with $185 million in new TVL launches in the first week of late January There is over $1 billion in governance token transactions. In addition to stablecoins, Ondo’s flagship Treasury-backed tokens, tokenized securities, and real-world assets create countless new opportunities for Sui-based teams.

Ondo’s expansion into the Sui ecosystem also continues the trend of top projects actively choosing to integrate into Sui. For example, in December 2023, Solend, the leading Solana lending protocol, announced the launch of a Sui-native lending protocol, and decentralized derivatives exchange Bluefin similarly announced the launch of V1 Arbitrum to focus entirely on Sui. Implementation finished.

“People using our platform expect fast and efficient transactions, which should be essential for any blockchain project,” said Nathan Allman, Founder and CEO of Ondo. ”. “Sui’s growth and network performance clearly confirms that the network is a great fit for his Ondo ecosystem.”

Tokenized Treasury products represent tradable tokens backed by real-world assets, and their presence on Sui is an important step toward growing DeFi across the ecosystem and industry. It becomes.

“Ondo is an amazing addition to the Sui ecosystem, creating new opportunities for Sui builders and developers, and creating a stablecoin-like offering with native yield that provides essential new functionality to users of their applications. Provide assets.” Sui Foundation. “Sui’s DeFi volume is already growing at an incredible rate, and the addition of Ondo will make that trajectory even stronger. I'm looking forward to seeing how you use it.”

contact

Sui Foundation
media@sui.io

Source: the-blockchain.com