Bitcoin24h $81,874.58-4.93%

Ethereum24h $1,783.86-5.64%

XRP24h $2.06-3.95%

BNB24h $588.27-2.51%

Solana24h $115.49-11.71%

Dogecoin24h $0.1586-8.32%

Cardano24h $0.6396-6.67%

TRON24h $0.2357-1.38%

Toncoin24h $3.59-9.77%

UNUS SED LEO24h $9.39-0.29%

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.