Day: May 4, 2022

Published by DPA Washington (tca/dpa) — A new type of digital asset called an algorithmic stablecoin is gaining steam among crypto-enthusiasts — and drawing steam among critics, who warn its risks are in plain sight. Algorithmic stablecoins use market incentives, controlled by the algorithms that give the cryptocurrency its name, to maintain a stable price against a currency such as the dollar, rather than backing the price with assets like cash or Treasury securities, as other stablecoins do. An algorithmic stablecoin called TerraUSD is now the third-largest stablecoin by market value, according to sites that…

Published by Reuters UK By Anshuman Daga, Selena Li and Sinead Cruise HONG KONG (Reuters) -HSBC investors gave a break-up proposal by its biggest shareholder a lukewarm response on Tuesday, voicing concerns a split would prove complex with no guarantee of raising returns. Chinese insurance giant Ping An has called on HSBC to explore options including spinning off its Asian business, where it earns two-thirds of its pre-tax profits, sources familiar with the situation said on Friday. HSBC’s Hong Kong shares closed up 2.6%, while its London-listed shares were trading 2.3% higher at 1553 GMT. Both bourses were closed on…