Tag: Billion

Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31 – Altcoins Bitcoin News

Jamie Redman

While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four of the Top Five Stablecoins Experience Net Redemptions in the Past 30 Days On March 31, 2023, the top stablecoins by market capitalization represented $133.63 billion in value, and now the valuation is down to…

With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021 – Altcoins Bitcoin News

Jamie Redman

Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. BUSD Stablecoin Supply Hits Lowest Point in Two Years BUSD, which was once among the largest stablecoins, remains the third-largest USD-pegged token. However, on February 13, 2023, Paxos announced that the New York State Department…

FTX influencers face $1 Billion class-action lawsuit over alleged crypto fraud promotion

Derek Andersen

A class-action suit led by Edwin Garrison has been filed against “FTX influencers,” mostly on YouTube, seeking $1 billion because they “promoted FTX crypto fraud without disclosing compensation.” The suit was filed March 15 in the Southern District of Florida Miami Division. Kevin Paffrath, Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian Jung, Jeremy Lefebvre, Tom Nash, Ben Armstrong, Erika Kullberg and Creators Agency LLC were named as respondents.  The defendants are eight YouTubers, the talent management company that handled promotion of FTX and agency’s founder. According to the suit: “Though…

Ebb and Flow of Stablecoin Economy Continues With BUSD’s Market Cap Dropping Below $10 Billion Range – Altcoins Bitcoin News

Jamie Redman

The realm of stablecoins is an ever-evolving landscape and the number of coins in circulation for the stablecoin BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3, 2023. Over the last 30 days, BUSD’s token supply has dropped 40% lower. In contrast, the number of tethers in circulation has increased by 4.7% to 71.11 billion in the last month. BUSD Slips Below $10 Billion, Tether Supply Rises by 4.7% to Over $71 Billion In the stablecoin economy, currency supply fluctuations are key drivers of…

Artificial Intelligence Crypto Assets Continue to Surge, Accounting for $4 Billion in Market Value – Altcoins Bitcoin News

Jamie Redman

Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy’s value. Majority of Listed AI Cryptocurrencies See Positive Gains Over Last Month Artificial intelligence (AI) has been a dominant theme in 2023, resulting in a significant surge in the value of AI-focused tokens this year. Bitcoin.com News reported…

Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days – Altcoins Bitcoin News

Jamie Redman

Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy’s $67.71 billion in global trade volume over the past 24 hours. BUSD Supply Shrinks by 17.77% in 6 Days Statistics show that a significant amount of BUSD has been redeemed over the past six days, with the supply dropping by 17.77% during…

More Than $2 Billion in USDC Redemptions in 30 Days – Altcoins Bitcoin News

Jamie Redman

It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time frame. From Jan. 6, 2023, to Feb. 10, approximately $2.196 billion worth of usd coin was redeemed over the past month. Monitoring the Stablecoin Economy’s Recent Moves Amid 2023’s Regulatory Crackdown According to current statistics,…

Stablecoin Economy Sheds Another $3 Billion in 44 Days – Altcoins Bitcoin News

Jamie Redman

The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar’s market capitalization slid by 1.5%. $3 Billion in Dollar-Pegged Tokens Erased in 44 Days as Stablecoin Swaps Represent Nearly 80% of Global Crypto Trade Volume The overall value of the top stablecoins…

Web3 Animoca Brands cuts fundraising goal to $1 billion in Q1 2023

Willy Rock

Web3-focused gaming company Animoca Brands has announced that it is now targeting a $1 billion fundraising goal for a fund to inject help into already established blockchain projects. This figure is significantly lower than the $2 billion the company announced in November as the upper limit for the same fund. Animoca Brands announces lower numbers for Web3 and Metaverse fund Animoca Brands, one of the most popular Web3 and blockchain gaming companies, has made a new announcement regarding its fundraising goals for the first quarter of 2023. Yat Siu, co-founder…

BUSD Sees $5 Billion Reduction in Supply in 24 Days, Relationship With Turkish Lira Continues – Altcoins Bitcoin News

Jamie Redman

According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion, going from $21.84 billion to its current level of $16.77 billion. Stablecoin Market Sees Fluctuations With BUSD Losing Significant Supply, Ties to Turkish Lira BUSD, the stablecoin founded by Paxos and Binance, has experienced a significant reduction in its circulating supply. Data shows that among the top…