StablR's stablecoins EURR and USDR lost their pegs after attackers exploited a weak multisig wallet setup, stealing about $2.8 million worth of crypto. The breach was due to a compromised private key, not a smart contract flaw, allowing hackers to mint millions of tokens and swap them for ETH. This incident highlights risks in stablecoin governance and key management in DeFi. StablR operates under EU regulations and has backing from Tether, but no recovery plan has been announced yet.
As of October 17, Tether (USDT) and USD Coin (USDC) together accounted for 84.7% of the $302.5 billion stablecoin market, with a combined market cap of $256.1 billion. USDT held $183.4 billion, while USDC was valued at $72.7 billion. Other stablecoin...
Saber Money has received undisclosed investments from Tether and CMCC Global’s Titan Fund to support its expansion in Asia-Pacific and Gulf regions. The funds will help Saber obtain local licenses and banking partnerships to improve international bus...
Hyundai Card successfully reduced the time for a $20,000 USDT transfer between its US and Mexican subsidiaries from three to four hours to about seven minutes using Axiym Finance's infrastructure on the Avalanche blockchain. This pilot, conducted in ...
Tether Capital has made a strategic investment in AIsa, a platform that enables AI agents to seamlessly access and pay for data, software, and computing services. This addresses a key challenge as AI agents evolve to manage workflows but struggle wit...
Stablecoins such as Tether solve the volatility problem of cryptocurrencies like Bitcoin, making everyday crypto spending practical. By pegging their value to the US dollar and backing it with reserves, stablecoins maintain a steady value that allows...
