Terraform Labs donates $1.1B for Luna Foundation Guard’s reserves
High demand for UST has led to a pool imbalance on Curve Finance, requiring intervention. Go to Source Powered by WPeMatico
Stablecoins
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Report: Billion-Dollar Hedge Fund Fir Tree Eyes Shorting the Stablecoin Tether
The hedge fund Fir Tree Capital Management’s investors claim it has developed a method to short the stablecoin tether. A report notes that “clients of the firm” said the potential to reap big rewards from shorting the world’s largest stablecoin is great. Investors Say Hedge Fund Devised a Method to Short Tether, Fir Tree Bets … Read more
Tether slashes commercial paper by 21% in latest reserves attestation
Tether’s cash and bank deposits also dropped 42% to 4.187 billion, while its allocation to money market funds increased 200% to $3 billion, and its treasury bills grew 77.6% to $34.52 billion. Go to Source Powered by WPeMatico
Stablecoin Economy Grows Close to 10% Larger in 54 Days — GUSD, BUSD, USDC Issuance Jumps
At the end of December 2021, the stablecoin economy’s market valuation was around $168.3 billion and since then, it has increased 9.92% to $185 billion in value. A number of stablecoins have issued more assets during the last seven days, as some of the top dollar-pegged coins have swelled by more than 20% since the … Read more
Despite Recent Threats From Canadian Officials, ‘Real Crypto’ or Decentralized Assets Cannot Be Frozen
Over the last week, there’s been a lot of discussion about Canada ‘freezing’ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin and ethereum, cannot be frozen directly within the network. However, the Canadian government can flag specific digital … Read more
US Senate Banking Chief Criticizes Super Bowl Crypto Ads, Claims ‘Big Crypto Companies Are Desperate’
The United States senator from Ohio and Senate Banking Committee chief Sherrod Brown is not a fan of cryptocurrencies. This week during Tuesday’s stablecoin hearing, Brown criticized all the cryptocurrency companies who advertised during the Super Bowl this past weekend and stressed that he’s “never seen the Federal Reserve buy a multimillion-dollar commercial for U.S. … Read more
Exchange stablecoin reserve hits $27B as Bitcoin rises toward $50K ‘fair value’
More stablecoins find their way to exchanges than ever before — where will they be deployed next? Go to Source Powered by WPeMatico
Stablecoin Whale Domination — Tether Addresses Valued at $1M Own More Than 80% of USDT Supply
As the market capitalization of the stablecoin tether nears $80 billion, with its current $77.9 billion valuation, data from onchain researchers at Santiment indicates that tether addresses valued at $1 million own more than 80% of the entire supply. Tether’s Whales Command More Than 80% of the Supply The U.S. dollar-pegged stablecoin has grown exponentially … Read more
Stablecoin Economy Continues to Balloon as USDC’s Market Cap Crosses $50 Billion
As the entire lot of 12,333 digital currencies hovers just above $1.8 trillion in value, the stablecoin economy has recently swelled to $178.8 billion or 9.9% of the entire crypto economy. Out of the top five stablecoins, usd coin (USDC) saw its market capitalization jump the most, increasing 18.9% during the last 30 days. The … Read more
Circle’s USDC stablecoin gobbles Tether’s market share with 50B milestone
The 50 billion USDC circulating milestone has increased Circle’s share of the stablecoin market to almost 30%. Go to Source Powered by WPeMatico