With the collapse of both the Silvergate Exchange Network (NYSE: SI) and FTX (CRYPTO: FTT), stablecoins are expected to become even more ubiquitous as traders deposit their dollars with stablecoin issuers and
Tether (CRYPTO: USDT), faced a critical situation in late 2018 when its parent company and affiliates struggled to maintain access to the global banking system.
Decentralized finance protocol Platypus Finance (CRYPTO: PTP), which runs on Avalanche (CRYPTO: AVAX), has confirmed that two individuals suspected of hacking their system have been arrested by the French National Police.
Days after Platypus suffered major exploitation resulting in a loss of $9.1 million from three separate attacks, the decentralized-finance (DeFi) protocol announced a minimum of 63% of the funds would be distributed to users, regardless of any further update on fund recovery.
The Financial Stability Board (FSB) said that many stablecoins will not meet the requirements stipulated in its upcoming recommendations for cryptocurrency asset regulation.