Algorithmic stablecoins use self-regulating mechanisms to keep their private stablecoins pegged to another currency, a system that has had a rocky history. Typically, on-chain collateral consists of cryptocurrencies like BTC or ETH, fiat-backed stablecoins like USDC or USDT and a few nascent traditional financial assets brought on-chain (for example, there is a tokenized money market fund on Stellar, a tokenized green bond on Ethereum and some other efforts to tokenize traditional financial assets).
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Spot Bitcoin ETFs Should Be Approved ‘Immediately’: U.S. Congressmen
In a strongly-worded letter addressed to Securities and Exchange Commission (SEC) Chair Gary Gensler, a group of prominent U.S. Congressmen are calling for the...