Equilibrium raises $2.5M to secure support for Polkadot parachain bid
Major Polkadot ecosystem investors are backing the DeFi protocol. Equilibrium, a Polkadot-based decentralized finance project and parachain candidate, has raised $2.5 million from a number of venture funds primarily involved in the Polkadot ecosystem.Heavy Polkadot backers like KR1, Signum Capital…
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VC Backed Billion-Dollar Stablecoin Project Fei Protocol Falls Below the USD Peg
By Jamie Redman
The new decentralized finance (defi) stablecoin project called Fei had some issues this week after the 1:1 USD pegged token dropped well below its targeted $1 value. The Fei project was supposed to be similar to Maker DAO’s algorithmic DAI…
Polkadot’s Potential Gathers Momentum as Tether Joins the Ecosystem
The largest stablecoin by market capitalization will be the first to enter the ecosystem as the Kusama canary network adds support for tether before the eventual deployments to parachains. Tether Inclusion Complements Polkadot’s Efforts to Attract More Defi Applications With…
Indian IT giant Tech Mahindra to launch stablecoin tool for banks
By Helen Partz
Tech Mahindra wants to provide U.S. banks with a stablecoin solution after the OCC authorized federally chartered banks to use stablecoins for settlement in January. Indian multinational technology firm Tech Mahindra is developing a new stablecoin service targeting banks and…
Fei Protocol genesis locks up $1 billion in ETH, but LPs could face losses
By Martin Young
Despite attracting more than $1 billion, Fei protocol’s genesis event hasn’t been entirely smooth sailing — with LPs facing losses if they withdraw soon. The launch of Ethereum-backed stablecoin called Fei has locked up almost a billion dollars’ worth of…
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Assurance Report Says Tether Stablecoins Are Fully Backed- Firm Exceeded Its Consolidated Liabilities
By Felipe Erazo
The company behind the world’s largest stablecoin disclosed a report by aiming to show “transparency commitment” to clarify whether Tether’s reserves are fully backed or not. Tether Holdings Limited published its “Assurance Opinion” issued by an auditing firm based in…
Scotland’s Music School Accepts Payments for Music Lessons in Cryptocurrency
By Wayne Jones
Going by the name Morningside School of Music based in Edinburgh, Scotland, a music school sent a tweet on March 30 acknowledging themselves as the first Music School in Scotland to accept cryptocurrency as a form of payment. We are…
Tether stablecoin is fully backed, says new assurance report
By Helen Partz
Tether’s reserves for its USDT stablecoin exceed the amount required to redeem the digital asset tokens, according to auditing firm Moore Cayman. Tether Holdings Limited, a company behind the world’s largest stablecoin Tether (USDT), has released an assurance opinion to…
External Auditor First to Confirm Tether’s USDT Backing
Independent auditor Moore Cayman attested last month that Tether is backed by “cash and cash equivalents” of more than 100% of its liabilities. Tether Removes Bitcoin Market Risk According to Moore’s report, Tethers’ assets as of Feb. 28 were worth…