The world’s largest US dollar stablecoin, Tether (USDT), today announced its first attestation report in six months. The report disclosed that Tether had decreased its commercial paper holdings – short-term commercial debt – by 17% from December 2021 through March 2022, from $24.2B to $20.1B. Tether said it has decreased its commercial paper holdings by…

South Korean authorities have formed an emergency financial crimes unit to investigate the collapse of stablecoin protocol Terra, and fined the protocol’s founder, Do Kwon, $78M for tax evasion, local media reported. The government agencies want to understand why UST, Terra’s US dollar stablecoin, lost its peg on May 9. The crash wiped $18 billion…

Traders have taken advantage of the Fantom-based lending protocol having hard-coded fUSD and DEI at $1 despite the tokens trading below their pegs. 

Norway’s central bank is embracing Ethereum’s Layer 2 for its central bank digital currency (CBDC) pilot. On May 16, Nahmii, an Ethereum L2, announced it had been tapped by Norges bank to host the sandbox for the country’s national currency, the krone. Nahmii said in a statement that it will “build, maintain, and train Norges…

ConsenSys-backed VillageDAO will provide customer care services to other web3 projects – with the first client being Metamask.

On May 16, Coinbase shared a wallet for its mobile app that lets customers access Ethereum-based dapps.

Aurora+, a Near Protocol EVM platform, offers 50 free transactions a month, a staking interface, airdrops and NFTs.

“Legislation to regulate stablecoins, where used as a means of payment, will be part of the Financial Services and Markets Bill which was announced in the Queen’s Speech,” a spokesman for Her Majesty’s Treasury told The Telegraph.

The Terra ecosystem’s notorious leader is trying to salvage the resources and talent left behind in the wreckage that is UST’s depegging.

Terra Stops and Starts to Salvage Network.