Crypto billionaire Arthur Hayes has proposed a Bitcoin-backed stablecoin. The stablecoin's value would need help from exchanges to maintain its $1 peg. In a recent blog post, the former CEO of BitMex proposed the Satoshi Nakamoto Dollar, NakaDollar ($NUSD), which would rely upon derivatives exchanges that list liquid inverse perpetual swaps. This will allow the creation of a synthetic USD equivalent without using USD held in the fiat banking system....
Crypto Billionaire Arthur Hayes Proposes Bitcoin-Based USD Stablecoin - How Would it Work?
Crypto News - 9 Mar 2023 18:00
Crypto billionaire Arthur Hayes has proposed a Bitcoin-backed stablecoin. The stablecoin's value would need help from exchanges to maintain its $1 peg. In a recent blog post, the former CEO of BitMex proposed the Satoshi Nakamoto Dollar, NakaDollar ($NUSD), which would rely upon derivatives exchanges that list liquid inverse perpetual swaps. This will allow the creation of a synthetic USD equivalent without using USD held in the fiat banking system....
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