ChainCatcher news, CryptoQuant contributor Darkfost stated that Binance's stablecoin reserves reached $31 billion on December 11, setting a new all-time high. Notably, Binance's stablecoin reserves were only $7 billion in June 2023, which means they have increased nearly fivefold since then.The increase in stablecoin reserves typically indicates that buying pressure is rising. The current reserve level remains around $30 billion, suggesting that investors are still actively engaged in the market, potentially maintaining strong buying pressure.

ChainCatcher news, according to The Block, Web3 risk provider Allez Labs has drafted a Pre-Polygon Improvement Proposal in collaboration with DeFi protocols Morpho and Yearn, seeking input from the Polygon community on deploying approximately $1.3 billion in stablecoin reserves (DAI, USDC, and USDT) from the Polygon PoS bridge.The proposal claims that due to the $1.3 billion in stablecoin reserves being idle, these funds represent an opportunity cost of about $70 million per year. The aim is to utilize these funds to incentivize additional activity within Polygon PoS and the broader AggLayer.The stablecoin reserves will be gradually deployed into ERC-4626 vaults tailored for each asset type. The DAI reserves are proposed to be stored in Maker's sUSDS vault, while USDC and USDT will utilize the Morpho vault as the primary source of yield. According to the proposal, these vaults will be risk-managed by Allez.The proposal will be discussed through community forums and the dedicated governance committee for Polygon.

ChainCatcher news, according to Crowdfund Insider, ClearBank has announced that it has been selected by Poundtoken to provide banking services, allowing it to hold its fiat-backed stablecoin reserves at the Bank of England. ClearBank offers secure accounts, real-time clearing, and embedded banking services for financial institutions.It is reported that Poundtoken is the UK's first regulated issuer of a pound stablecoin. The fiat equivalent assets of Poundtoken (GBP) are "held in secure and segregated bank accounts to support a one-to-one exchange for pounds."In addition, ClearBank will also provide real-time transfer services.

ChainCatcher message, according to the reserve report, the stablecoin TrueUSD (TUSD) has $26,434 in a U.S. depository institution that has been ordered to halt withdrawals, of which $26,269 is related to customer withdrawal exchange tokens, but it does not specify which U.S. institutions the funds are held in.TrueUSD previously stated that it has "no exposure" to the crypto custodian Prime Trust and suspended minting TUSD tokens through Prime Trust on June 10. (source link)

ChainCatcher news, USDT issuer Tether announced that starting this month, it will regularly allocate up to 15% of its realized net operating profits to purchase Bitcoin. Tether expects that the current and future Bitcoin holdings in its reserves will not exceed the shareholder capital buffer and will further strengthen and diversify its reserves.As of the end of March 2023, Tether has approximately $1.5 billion in Bitcoin in its reserves. (source link)

ChainCatcher news, José Manuel Campa, the chairman of the European Banking Authority (EBA), stated that the new regulations for the crypto asset market, known as MiCA, will come into effect in 2024, but crypto market participants should start adjusting their operations now.In addition, the EBA chairman also mentioned that the upcoming EU regulations governing stablecoins will focus on ensuring that issuers have diversified reserves, managing conflicts of interest, and not transferring risks to other participants. (CoinDesk)

ChainCatcher news, CryptoQuant co-founder and CEO Ki Young Ju tweeted that FTX's stablecoin reserves have just reached a one-year low, currently at $51 million, down 93% over the past two weeks. At the same time, FTX's ETH withdrawal amount per hour has also hit an all-time high, and the exchange's token reserves of FTT have reached a historical peak, with about 60% of the circulating supply of FTT on exchanges.In addition, on-chain data shows that Alameda Research is making large stablecoin deposits to FTX, with a total of $257 million deposited in the past 24 hours. In comparison, Nansen data shows that Binance has seen an inflow of $337 million in stablecoins over the past 7 days, making it the largest entity for stablecoin inflows, with a current balance of $26.6 billion. (source link)