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Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins. Go to Source Powered by WPeMatico
The stablecoin provider denied the allegations that began to surface in regard to its exposure to the now-collapsed Signature Bank. Go to Source Powered by WPeMatico
At the time New York regulators took control of Signature in March, there was reportedly a system in place for Tether clients to send dollars though the bank’s Signet platform. Go to Source Powered by WPeMatico
A major stablecoin depegging event raised concerns about the stability of these assets amid a U.S. banking crisis. The result may have been an improvement in their position in traditional finance. Go to Source Powered by WPeMatico
According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. … Read more
Users of the Telegram messenger will now be able to send each other the leading stablecoin, tether (usdt), directly in the chats. The new option expands the list of cryptocurrencies available for purchase, sale, and trade in the messaging app. Tether Added to Wallet Bot in Telegram Messenger Support for transactions with the U.S. dollar-pegged … Read more
The banking crisis is a catalyst for the next crypto bull run, in which Bitcoin will likely outperform all crypto assets, says Bloomberg analyst Mike McGlone. Go to Source Powered by WPeMatico
Tether CTO Paolo Ardoino believes that USDT is becoming the “safest asset to hold in the world” amid the banking crisis. Go to Source Powered by WPeMatico
Crypto firms who have had the strongest position with U.S. regulation are now considered “unsafe,” Circle CEO Jeremy Allaire stated. Go to Source Powered by WPeMatico
Bitcoin reached a high of $28,422 per unit on Sunday at around 3 p.m. Eastern Time as the leading cryptocurrency has continued to rise during the last week. Since last Sunday, bitcoin has increased in value by 37.9% against the U.S. dollar, and the cryptocurrency’s overall market capitalization has swelled to $546 billion. Global Cryptocurrency … Read more