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After Bitcoin {BTC}, Mario Draghi of ECB targets stablecoins; more trouble on LIBRA’s horizon


Tether is the top-ranked stablecoin in the market; it overtook Bitcoin Cash and Litecoin during the major slump that gripped alts this week. As expected, USDT is priced at $1.01 [based on data obtained from coinmarketcap]. The trading volume recorded stands at roughly $18.875 billion, while the supply has approximately 4.108 billion USDT coins in play. As of this instant, the total market cap of Tether amounts to $4.137 billion.

The one at the helm of the European Central Bank has previously expressed dismay towards the advent of cryptocurrencies. Mario Draghi and his outdated principles have been shunned by members within the ecosystem; it now seems that he has softened his stance.

While Tether is the most well-known stablecoin, other prominent projects include DAI [run by Maker], the Gemini Dollar [Cameron and Tyler Winklevoss are the ones-in-charge of this venture and have been part of the cryptosphere for more than 5 years].

LIBRA is an initiative by Facebook [Mark Zuckerberg stole the original idea which emanated from the twins once again] that is backed by more than a dozen corporations including Uber, Mastercard, Visa, and so on. This would be a centralized stablecoin and has gathered a huge amount of attention [it even contributed to a Bitcoin bull-run which occurred a few months back] from lawmakers scattered across the globe.

Specifically, the politicians in Germany, France, and China have expressed their pessimism aimed towards Mark Zuckerberg’s latest contribution to technology. Christine Lagarde is slated to be appointed as the new chief of ECB once Draghi departs. Lagarde has welcomed Bitcoin and has been an XRP enthusiast as well.

At the Bundestag, Benoit Coeure of ECB stated that LIBRA is simply “a wake-up call” for central banks.

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