A new study has found that stablecoin issuances do not push the price of bitcoin or of other cryptocurrencies up, directly contradicting previous studies on the issuance of Tether.
Miners have managed to trick a decentralized stablecoin protocol to turn $11 worth of a Japanese Yen-pegged cryptocurrency into $6.7 million. They ended up burning the funds after failing to liquidate them, and claimed it was a penetration test.
De Nederlandsche Bank, the central bank of the Netherlands, has revealed it’s “ready to play a leading role” in the development of a digital euro.
Top stories in the Crypto Roundup today:
- Stablecoin Issuances Does Not Push Bitcoin’s Price Up, Study Finds
- Miners Trick Stablecoin Protocol to Turn $11 into $6.7 Million
- Dutch Central Bank ‘Ready to Play Leading Role’ in Digital Euro Development
At the time of writing, bitcoin (BTC) is trading at $7,059.76 (1.45%) with a daily Top Tier volume of $2.17 bn. As for ether (ETH), it is trading at $179.55 (2.36%) with a daily Top Tier volume of $1.12 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,595.66 (-1.03%).