Stablecoins Are the ‘Biggest Misnomers’ and ‘Oxymorons’ Says New Zealand Central Bank Governor

New Zealand Central Bank governor, Adrian OrrThe New Zealand Central Bank governor, Adrian Orr, recently branded stablecoins “the biggest misnomers” and “oxymorons.” Orr also rejected the notion that cryptocurrencies could serve as a replacement or supplement to central bank-issued money. Stablecoins Not a Viable Substitute for Money Despite their rise as an alternative to fiat currency in some regions, stablecoins are […]

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Return Of Tether To Exchanges Sparks Speculation of Bullish Trend

In a surprising turn of events, approximately 4% of Tether’s available supply has returned to exchanges within just five weeks. This movement contrasts with the ongoing trend of Ethereum and Bitcoin supplies moving off exchanges following the adoption of the ETF.  📊 As #Bitcoin’s & #Ethereum’s respective supplies have continued moving off exchanges after the #ETF approvals, an interesting development has been #Tether seeing nearly 4% of its available supply come back to exchanges in 5 weeks. The increase in buying power implies (Cont) 👇 pic.twitter.com/hQrBhZchEu — Santiment (@santimentfeed) January 30, 2024 The influx of Tether onto exchanges signals an

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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 —

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