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Stablecoin News Summary, Jun.17 - Jun.24, 2018

Updated: Feb 26, 2019

Maker Foundation Proposal 🗣 This proposal gives a look into how Maker is thinking about achieving decentralized governance -via YouTube 📺

TrustToken Received $20 Million in Funding Round 💰 The company behind the TrueUSD stablecoin, has raised $20 million in a strategic funding round from Andreessen Horowitz, BlockTower Capital, Danhua Capital, GGV Capital, and other parties. -via CCN 📰

Fiat-Backed Cryptos Wooing Money Managers And Undercutting Other Stable Coins 📈 The list of true believers keeps expanding. The hundredth-monkey theory is playing out at this very moment. The consensus is that traditional investment firms will want to trade these things in larger quantities. Stable coins are the virtual fiat for those funds. -via Forbes 📰

Stablecoin Project Secures Backing From Pether Thiel, Coinbase, 40 Others 💰 The developmental-stage stable-value crypto project is dubbed “Reserve,” and closed a collective $5 mln seed round to develop a fully decentralized cryptocurrency that works “by locking up other cryptoassets in a smart contract in order to provide backing to the Reserve token and stabilize its price.” -via CoinTelegraph 📰

Law Firm Hired by Bitfinex Confirms Tether Reserves 🔍 On Wednesday, a law firm hired by Bitfinex regarding its USD-backed Tether token released a four-page report indicating that Bitfinex had assets in its bank account that accounted for and exceeded the supply of over 2.5 billion USDT. The firm looked into Bitfinex’s bank accounts on a surprise date, June 1, to confirm that there were sufficient assets to cover the entire supply of Tether. -via NullTX 🐜

Chief Strategy Officer of Bitfinex and Tether Resigns 🔥

The dubious timing on Potter’s departure, which comes in the wake of both companies being served subpoenas by the United States Commodities and Futures Trading Commission (CFTC) in December of last year, has raised questions as to whether the investigation was related to the split.

-via Bitcoinist 📰

All Global Currencies Will Become Cryptocurrencies 🌎 “Our view is that all fiat currency will be crypto,” Jeremy Allaire, who co-founded Circle in 2013, told CNBC in an interview on Monday. “It seems inevitable at this point.”

-via CNBC 📰

How to Enter the Havven nUSD Airdrop 💸

Havven, a decentralized payment network and stablecoin, has officially launched an airdrop of nUSD tokens, its stablecoin, for selected holders of havvens, its collateral token. The airdrop, which launched June 16, offers all members of the public a chance to secure nUSD tokens.

-via NewsBTC 📰

Q&A with Runa Christensen, Founder of MakerDAO 🕵🏻

Cryptovest had a chance to catch up with Rune to discuss the future of Maker, some key challenges, get some advice for newcomers, and to talk a bit about the roadmap for the rest of 2018

-via Cryptovest

Stablecoin: What Is It Good For? 🙇‍

Brief overview of stablecoin models and use cases with nice visuals.

-via Medium 📝