The company proudly announced that it stands among the pioneering major payment institutions to directly employ the Solana network for its settlement processes.
A crypto custodian, which was placed under receivership in July, incurred a loss of $76 million due to a separate wallet mishap in 2021, as stated in a court submission.
The introduction of the Enhanced Dai Savings Rate has managed to partially counteract the decline in the token's market value that had been observed.
A stablecoin run could impact traditional financial markets, professor warns Eswar Prasad, the Tolani senior professor of trade policy at Cornell University, said he thinks stablecoin issuers are holding U.S. Treasuries in their reserves.
But while there are no signs of major stablecoins collapsing, Eswar Prasad, an economics professor at Cornell University, said it's something regulators he's spoken to are worried about because of the impact it could have on traditional financial markets.
Eswar Prasad, the Tolani senior professor of trade policy at Cornell University, said he thinks stablecoin issuers are holding U.S. Treasuries in their reserves. Any run on a stablecoin could see Treasuries sell off, with the impact being felt across the bond market, Prasad said. CNBC's Arjun Kharpal reports.
Eswar Prasad, an economics professor at Cornell University, warned that a run on stablecoins could spill into bond markets as issuers of these types of cryptocurrencies may have to sell U.S. Treasurys to honor redemptions.
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