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Sonic Labs To Abandon Plans For Algorithmic USD Stablecoin, Here’s Why

CoinGape LogoCoinGape3d ago

Sonic Labs To Abandon Plans For Algorithmic USD Stablecoin, Here’s Why - CoinGape

Quick Summary:

Barely a week after hinting at launching an algorithmic USD stablecoin, Sonic Labs is shuttering its plans.

Sonic Labs co-founder Andre Cronje revealed that incoming stablecoin regulation in the US contributes to the change of stance.

Authorities are targeting stablecoin regulation to reach Trump in two months as issuers jostle for position.

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Sonic Labs To Abandon Plans For Algorithmic USD Stablecoin, Here’s Why - CoinGape (Picture 1)

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Article Details

Author / Journalist: Aliyu Pokima

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 19:15:53 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 342 words

Reading Time: 2 minutes read

Sentences: 29 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 27388352

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About CoinGape

CoinGape Logo

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 12 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #59

Publisher Details

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The story "Sonic Labs To Abandon Plans For Algorithmic USD Stablecoin, Here’s Why" has 342 words across 29 sentences, which will take approximately 2 - 3 minutes for the average person to read.

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The story "Sonic Labs To Abandon Plans For Algorithmic USD Stablecoin, Here’s Why" was covered 3 days ago by CoinGape, a news publisher based in India.

How trustworthy is 'CoinGape' news outlet?

CoinGape is a fully independent (privately-owned) news outlet established in 2017 that covers mostly crypto news.

The outlet is headquartered in India and publishes an average of 12 news stories per day.

It's most recent story was published 8 hours ago.

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  • News ID: #27388352
  • URL: https://chronographically.beamstart.com/news/sonic-labs-to-abandon-plans-17431897731356

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