#usdr

➤ Bitcoin's implied volatility has reached a nine-month low, coinciding with significant net outflows from US spot Bitcoin ETFs. ➤ Polygon's stablecoin volume has surged to $2.5 trillion, driven by major financial firms, while StablR has frozen USDR and EURR operations due to a cyberattack. ➤ Kelp DAO has completed its rsETH recovery plan, restoring full functionality, and the XRP Ledger is preparing for a significant upgrade.

➤ StablR has suspended its USDR and EURR stablecoin operations due to a cyberattack that resulted in the minting of $13.5 million in unbacked tokens. ➤ The attack exploited a weakness in a 1-of-3 multisig wallet, leading to the tokens becoming under-collateralized and failing to meet MiCA regulatory requirements. ➤ StablR is investigating the breach with external firms and law enforcement, and has notified Maltese financial regulators.

➤ The StablR platform experienced a major cyberattack, leading to a loss of parity for its Euro StablR (EURR) and Dollar StablR (USDR) stablecoins. ➤ The attack exploited a vulnerability in the multisignature key management system, allowing for the unbacked issuance of millions of tokens. ➤ Despite operating under the EU's MiCA regulation and having a license from Malta, the incident highlights internal governance and operational security failures, impacting investor confidence.

➤ StablR's EURR and USDR stablecoins experienced a depeg after an exploit allowed for the unauthorized minting of over $10 million worth of tokens. ➤ The attack was attributed to a failure in key management and governance, rather than a smart contract bug, leading to significant losses and loss of peg. ➤ The incident highlights regulatory concerns in Europe and provides ammunition for the ECB's stance against stablecoins, while also raising questions about operational security in the crypto space.

➤ RealFi has launched USDr, a yield-bearing stablecoin on Cardano, aiming to convert idle stablecoins into yield-generating assets with up to 9% APY. ➤ USDr derives its yield from real-world financial instruments like Money Market Funds and Corporate Floating Rate Bonds, differentiating it from purely on-chain DeFi yield models. ➤ The platform targets both retail and institutional users, offering a streamlined onboarding process and aiming to unlock significant dormant stablecoin capital by integrating DeFi accessibility with traditional fixed-income exposure.

Stay tuned and grab your prize 😋.

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