The move could redefine baseline interest rates in the DeFi space, spurring higher stablecoin lending rates and making leverage more expensive, one analyst noted.
MakerDAO Weighs Ditching $390M of Gemini Dollars from DAI Reserve
The result could have a significant impact on Gemini and its stablecoin as MakerDAO’s reserve holds roughly 88% of total GUSD supply.
A stablecoin’s rise in market share has ignited the ‘Second Great Stablecoin War’
Since Binance announced it would auto-convert USDC, USDP and TUSD into BUSD on Sept. 6, BUSD’s share of the total stablecoin market has risen from 10.01% to 15.48%.
You Can Now ‘Spedn’ Bitcoin at GameStop, Barnes & Noble and More
Payments startup Flexa has released a crypto wallet called SPEDN to help brick-and-mortar retailers accept cryptocurrencies.
Winklevoss Exchange Gemini Shuts Down Accounts Over Stablecoin Redemptions
OTC traders tell CoinDesk that crypto exchange Gemini is limiting access to redemptions of its GUSD stablecoin.
Gemini Stablecoin Volume Doubles on Top 10 Exchange Amid Tether Turmoil
The Bibox exchange dominates trading in the Gemini Dollar, the Winklevoss twins’ month-old stablecoin. Its volume surged when tether’s peg broke.
Which Stablecoin Is the Riskiest? The Crypto Market Is Pricing That In
Buying bitcoin may be cheaper using a stablecoin the market has greater confidence in, like the Gemini dollar, than with an alternative like USDT.
Winklevoss-Backed Stablecoin Soars Above $1 as Tether’s Market Cap Plunges
The Gemini dollar has broken its peg and climbed to a price of $1.19 on Tuesday.