Bo Hines Named CEO of Tether’s New Dollar-Backed Stablecoin
Tether has announced the launch of a new US-regulated, dollar-backed stablecoin with Bo Hines, a former White House crypto adviser, stepping in as chief executive officer of its newly created American unit. The new token, named USAT, will serve as a complement to Tether’s flagship product USDT, currently the largest
Stablecoin Yield Fears Put $6.6T in Bank Deposits at Risk
Major US banking associations are warning lawmakers that a loophole in the recently passed GENIUS Act could destabilise the financial system and spark a mass flight of deposits from traditional banks. The American Bankers Association, Bank Policy Institute, and Consumer Bankers Association have issued a joint warning that the legislation,
PayPal Offers 3.7% Interest on PYUSD: A New Era for Stablecoins
PayPal is upping the ante in the stablecoin space with a major rewards programme that offers up to 3.7% annual interest for users holding its PYUSD stablecoin. Announced on 23 April, this move is set to boost adoption and real-world utility as the fintech giant leans deeper into digital finance.
