Issuers of the most popular stablecoins—cryptocurrencies pegged to a pool of reserve s like the U.S. dollar—came forward on Tuesday in support of the Ethereum “merge.” The merge is a highly anticipated upgrade that will shift Ethereum from a so-called proof-of-work consensus model to a proof-of-stake one, and dramatically reduce its environmental impact. Circle, the creator of top stablecoin USD Coin (USDC), wrote in a blog post today that it “intends to fully and solely support” the Ethereum proof-of-stake chain post-merge. Soon after, Tether, the entity behind another popular stablecoin USDT, also published a blog ... (full story)