Bitcoin24h $97,983.91-0.48%

Ethereum24h $3,404.96+1.21%

Solana24h $254.39-1.51%

BNB24h $674.40+1.20%

XRP24h $1.45-4.92%

Dogecoin24h $0.4328-8.21%

Cardano24h $1.05-2.61%

TRON24h $0.2144-0.32%

Stellar24h $0.5822+32.92%

Avalanche24h $41.81-1.38%

Here’s why decentralized finance is actually very centralized

Most DeFi protocols are controlled by a small number of smart contracts whose keys are held by one person or a tiny group of insiders.

Tether bought commercial paper from subsidiary of alleged terrorist-linked bank

Tether apparently bought nearly $50M worth of commercial paper from a subsidiary of Masraf Al Rayan, a bank fined $4M by the FCA.

Documents obtained by CoinDesk and Bloomberg shed additional light on Tether reserves, showing the issuers of its commercial paper.

With BUSD’s market cap at $4.5 billion, it looks to be just a matter of time before the former top-three stablecoin vanishes completely.

Justin Sun-linked stablecoins, including TUSD, have been struggling amid rumors that Prime Trust had paused minting and redemptions.