Is MakerDAO Moving All Its USDC Funds to ETH? Vitalik Buterin Calls It Terrible Idea

In a big development, Rune Chirstensen, founder of MakerDAO has urged all the members to “seriously consider” preparing the depeg of the DAI stablecoin from the U.S. Dollar. The comments came on the MakerDAO discord channel on Thursday, August 11, after the U.S. Treasury sanctioned crypto mixer Tornado Cash earlier this week.

Timeline of Maker, Usd-coin

MakerDAO is set to discuss whether it needs to remove the USDC backing for DAI which could depeg the stablecoin from the US dollar. The post MakerDAO founder says it's ‘almost inevitable' DAI will abandon USD peg appeared first on The Block.

Anchorage Digital, a federally chartered digital asset bank, has partnered with well-known funding platform and talent board AngelList to invest using USDC. AngelList and Anchorage say they are bridging the gap between fiat currency and VC funding.

Following Circle's freeze of blacklisted Tornado Cash addresses, MakerDAO is re-assessing the risks associated with its USDC collateral. The post MakerDAO plans against sanctions from USDC exposure appeared first on CryptoSlate.

While the cryptocurrencies are gaining mainstream attention, so does centralized stablecoins like Tether (USDT) and USD Coin (USDC). Now, Vitalik Buterin, Ethereum co-founder, claims that these centralized stablecoins are on the verge of becoming decision makers in the near future, hard forks that are always on dispute.

USD Coin from Circle, a technology company that develops peer-to-peer payments, is improving its positions as a leading stablecoin. Its market cap rose from $40 billion at the beginning of 2022 to almost $55 billion at the end of July.

Stablecoins have become a major part of the cryptocurrency space over time, with Tether USD (USDT) and USD Coin (USDC) now being the two leading stablecoins by market capitalization. While both are fully collateralized stablecoins, their underlying business models and infrastructure differ.

The news was hailed as a historic event for South American football, but it could bring unexpected consequences for Argentinian club Banfield, amid local FX restrictions. This piece is part of CoinDesk's Sports Week.

The second biggest stablecoin by market cap, USDC, is expected to overtake USDT, according to analysts at Arcane Research. The post Research: USDC on track to flip USDT by Q3 to become leading stablecoin appeared first on CryptoSlate.

One of the more unsettling events in the stablecoin sector occurred in May when Terra's UST lost its 1:1 dollar peg. Chaos resulted from the de-peg, which also utterly destroyed Terra's legitimacy.

The stability of Stablecoins has been the biggest question in the crypto industry after the recent collapse of Terra's UST. However, many different stablecoins are trying hard to fill the gap made due to it.