There is a New Stablecoin in Town!

Nick van Eck is launching the AUSD stablecoin after a very successful $12 million funding round.

Danielle du Toit
April 03, 2024

2021 had Axie Infinity's $AXS win the GameFi race...

This time around (2024) it's time for Pikamoon's $PIKA... PIKA is trading live on Bitget and MEXC at a market cap of $100 million.

Join 15,000+ Presale participants and invest in PIKA at this low market cap!

Here's what we've got for you today:

Van Eck is launching the AUSD stablecoin after a very successful $12 million funding round.

Teaming up with crypto veterans like Drake Evans and Joe McGrady, Nick plans to steer Agora digital dollar as CEO.
AUSD will stand out by being fully backed by cash, U.S. Treasury bills, and overnight repo agreements, with the asset management giant, VanEck, managing its reserves.
Agora plans to operate from outside the U.S., targeting selected markets, while still keeping an eye on the evolving federal legislation for stablecoins.

On Apr. 2, the Ark 21Shares fund (ARKB) experienced an outflow of $87.5 million, equivalent to about 1,300 BTC.

The ARK 21 Shares Bitcoin ETF saw more than $87 million in daily outflows, surpassing Grayscale’s Bitcoin Trust (GBTC) in daily outflow volume for the first time since the introduction of spot Bitcoin ETFs in the U.S.
This was ARKB’s second consecutive day of outflows, after a total loss of $300,000 in assets on Apr. 1.
Grayscale, which has consistently seen outflows every trading day since transitioning to a spot ETF, recorded another daily outflow of $81.9 million.

ZachXBT revealed on X that the creators of the URF meme coin have disappeared.

Bryce Hall, a well-known American social media personality and bare-knuckle boxer, actively promoted a meme coin, which helped the project's creators attract investors to the presale, raising approximately 2,400 SOL or around $450,000.
ZachXBT specifically pointed out Hall's role in the scheme, suggesting his promotion helped defraud investors.
The project’s team disappeared less than 24 hours after the token’s launch, and social media accounts associated with the meme coin have been inactive since Mar. 26.

A comprehensive analysis by Coinbase reveals the dual-edged nature of Ethereum restaking.

Liquid restaking tokens (LRTs) may lead to an increase in risk concentration as investors flock towards providers offering the highest returns, potentially destabilizing the DeFi ecosystem.
Coinbase analysts also warn that LRT providers and DAOs might adopt aggressive restaking strategies to stay competitive, adding complexity and even more risks.
Despite these concerns, Coinbase is still very positive about the future of restaking in the Ethereum ecosystem.

That’s it for today. Don’t forget to share Coinpaper Digest with your friends!