“Maker is making contingency plans to execute an emergency shutdown should core contracts underpinning DAI, its stablecoin, be sanctioned by Washington, according to posts from MakerDAO founder, Rune Christensen, in the project’s Discord channels. “If we get nuked by the […]
Patrick McKenzie (aka patio11) reluctantly talks about cryptocurrency. “In principle, you could use stablecoins as money, like how you use deposits as money. Stablecoins are not used like money; rather than facilitating almost the entire diversity of transactions in the […]
“The entire crypto market has been glued to their computers and phones as they watch the volatility and drama unfold related to Terra, LUNA, and the UST stablecoin. As many of you are already aware, the UST stablecoin lost the […]
Short answer: because it’s the most trusted. | learn more
“For years, the rich have stored gold and euros in offshore bank accounts. Haven thinks everyone should have that level of privacy, minus the bank accounts.” | learn more
From the esteemed venture investor Fred Wilson: “I heard about a transaction that closed last week in which the buyer sent millions of USDC to the sellers’ wallet. Instead of wire instructions, scan a QR code and hit send. This […]
Holders of the stablecoin lost about $8 million during forced liquidations (I wrote about this last week). But, it survived, which is probably the more interesting point. | learn more
About $8 million was withdrawn from the stablecoin system on March 12th and 13th. “This problem arose not because of a sharp drop in price and the lack of collateral, but due to manipulations of initiative keepers (liquidators).” | learn more