#stablecoin
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Ethena Labs announced the launch of a new stablecoin, UStb, backed by BlackRock's tokenized Treasury fund, BUILD. This coin will operate independently from the existing USDe, which utilizes hedging strategies, including trades involving cryptocurrencies like BTC, ETH, and SOL, to offer users a yield. 
BitGo is set to launch its own yield-bearing stablecoin, USDS, in early 2025. The stablecoin will be backed by cash and short-duration Treasury bills that generate returns. The initial market capitalization is expected to reach approximately $10 billion within the first year. Ripple vs SEC: Is This the Final Chapter?
The crypto world is buzzing as the Ripple-SEC court case develops into a thrilling narrative, with discussions of a penalty discount, looming appeals, new stablecoin trials, and talk of an XRP ETF. We’re here to unravel the intricacies of this compelling drama. 
The U.S. Securities and Exchange Commission (SEC) settled charges against California-based companies TrustToken and TrueCoin, which operate under the Archblock brand, for selling unregistered securities and providing misleading information regarding the reserves backing their stablecoin, TrueUSD (TUSD). 
The new stablecoin USDS, poised to replace DAI, might feature a decentralized process for appealing frozen assets if such measures are implemented in the future. Currently, there is no mechanism for freezing funds, but it could be added through an update to the smart contract. 
Tether, the issuer behind the USDT stablecoin, is planning to double its headcount over the next year to better meet regulatory demands. This expansion will bring the company’s workforce to around 200 employees. The financial department, responsible for managing the company’s $118 billion in reserves, will also see the bolstering. 
In a span of two months, the Hong Kong Monetary Authority (HKMA) collected 108 responses from industry players and financial institutions about regulations for fiat-referenced stablecoins. Government officials see these assets as the most promising, which is why the new bill will focus on them. 