depeg – DIGIT INFO

USDE and FDUSD Experience Brief Depegs Amid Saturday’s Crypto Market Shake-Up

The fifth-largest stablecoin in the crypto economy by market capitalization, Ethena’s USDE, temporarily detached from its peg on Saturday amid market declines. Data reveals that the token, designed to mirror the U.S. dollar’s value, declined to $0.965 each. Similarly, the market witnessed the fourth largest stablecoin, FDUSD, fall to a low of $0.9557 per coin. […]

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USDC/USDT Stablecoin Pair Experiences Brief Dip In Value Amidst Market Turbulence

In a recent bout of market turmoil, the trading pair involving Circle’s USDC dollar and Tether’s USDT on Binance witnessed a sudden drop to $0.76 and $0.8 at UTC+8 20:00 and 20:15, respectively. Shortly thereafter, the values swiftly normalized. A similar dip was observed on OKX, with the trading pair reaching $0.955 around 20:00. In today’s panic drop, the USDC/USDT trading pair on Binance dropped to $0.76 and $0.8 at UTC+8 20:00 and 20:15 respectively, and then quickly returned to normal price level. The price of the trading pair also fell to $0.955 around 20:00 on OKX. https://t.co/asYaZGmJma pic.twitter.com/l0yCg2efx2 —

The post USDC/USDT Stablecoin Pair Experiences Brief Dip In Value Amidst Market Turbulence appeared first on The Merkle News.

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Stablecoin issuer Circle weighing up 2024 public launch: Report

Circle initially agreed to go public as part of a $4.5 billion merger in July 2021 but that deal fizzled out.

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Terraform Labs contends Citadel Securities had a hand in its stablecoin collapse

Terraform Labs has urged the judge to grant its motion to compel trading data from Citadel Securities, which it says had a hand in the collapse of USTC in May 2022.

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USDR stablecoin depegs to $0.53, but team vows to provide solutions

Real-estate-backed stablecoin USDR fell to $0.53 per coin on Oct. 11, but the team said it was merely a liquidity issue and that real estate holdings and digital assets will be used to support redemptions.

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Terra interim CEO says any ‘little progress’ made gets derailed by accusations

Terraform Labs recently appointed CEO, Chris Amani, held a Twitter Spaces with the purpose of separating the operations of Terraform Labs from Do Kwon’s personal affairs.

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Stablecoin dominance slides as market cap falls to near 2-year lows: CCData

After 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3% of the total crypto market capitalization.

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Italy’s central bank calls for framework to prevent stablecoin runs

Bank of Italy is calling for closer regulator scrutiny of stablecoins, which they say “have not proved stable at all.”

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‘Over-Collateralization Can Help Mitigate the Risk of Stablecoin Depegging’ — Pendulum CTO

Despite being touted as a game-changing innovation, the decentralized finance (defi) ecosystem is still not connected to fiat rails largely because of regulatory and compliance issues, Torsten Stuber, the CTO at Pendulum says. According to Stuber, the defi ecosystem will succeed in getting more traditional financial institutions on board once “a substantial amount of liquidity […]

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Crypto users turned to DEXs, loaded up on USDC after Silicon Valley Bank crash

The collapse of FTX led to a similar exodus from centralized exchanges, as users worried they may lose access to funds during crises.

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