Tether has introduced USAt, a new U.S. dollar–backed stablecoin designed to comply with U.S. federal regulations. The token marks Tether’s first effort to issue a stablecoin specifically for domestic use under a new legal framework. Additionally, the initial exchange listings represent its first public rollout.
Stablecoin adoption is rising across Africa as individuals and businesses search for faster cross-border payments and protection from rising prices. Speaking at the World Economic Forum in Davos, economist Vera Songwe said stablecoins are filling gaps left by costly remittance systems and weak local currencies. Growing usage is also drawing closer attention from regulators across the continent.
Saga, a Layer-1 blockchain protocol, has paused its Ethereum-compatible SagaEVM chainlet after a $7 million exploit triggered unauthorized fund transfers. The attack involved assets being bridged out of the network and swapped into Ether. Although the affected chainlet remains offline, Saga says the broader network continues to operate normally.
At the brink of chaos, RLUSD emerges, a fragile crypto star. Ripple anticipates scarcity and excitement, while traders are betting insane amounts on this still uncertain promise.
The USDC lost its peg to the dollar yesterday. Instead of trading at 1 dollar, this stablecoin from Circle saw its value drop to an alarming level on Binance. This created a situation of panic within the crypto community.
Tether may have reassured the crypto community after a series of depegs in its stablecoin USDT this year, but its instability is a major concern. Early this morning, it was reported that the asset had fallen to a very low level, raising doubts about a Terra bis scenario. Let's take a look!