US seizes $61M in USDT linked to crypto scam, new gold-backed stablecoin gains attention

A recent crackdown by the US government has resulted in the seizure of $61 million in USDT linked to a high-profile 'pig butchering' crypto fraud scheme. This operation marks one of several actions taken by authorities to combat illicit activities in the digital asset space.

Meanwhile, a gold-backed stablecoin project, USDKG, is gaining attention for its innovative approach to stability and transparency. Unlike other stablecoins, USDKG was built from scratch with physical reserves, which have been independently audited and are publicly available on their website.

USDKG's co-founders emphasize the importance of overcollateralization, stating that rising gold prices strengthen the system by increasing the backing amount. This approach is seen as a safer alternative to traditional stablecoins, which often rely on opaque reserve structures.