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Admins of the Telegram group of the FTX community stated that the platform had been hacked and all of the funds of the exchange seemed to be gone. FTX U.S. General Counsel Ryne Miller, who reportedly pinned the message in the group, explained he was investigating “abnormalities” regarding FTX balances across other exchanges. FTX Officials … Read more
Nearly all major stablecoins lost their dollar pegs amid the FTX saga, but most have recovered again as markets stabilize. Go to Source Powered by WPeMatico
Amid the market fluctuations on Thursday, data shows the stablecoin tether temporarily tapped a low of $0.961 per unit. Tether’s market fluctuations have affected the decentralized finance (defi) protocol Curve’s 3pool, as the stablecoin pool has become unbalanced Thursday morning. Furthermore, at 9:35 a.m., a report disclosed that Tether has frozen more than 46 million … Read more
Tether has thus far only frozen USDT funds held in private wallets when requested by law enforcement. Go to Source Powered by WPeMatico
Tether follows TRON’s USDD stablecoin in coming unstuck amid suspicions of shorting involving FTX and Alameda Research. Go to Source Powered by WPeMatico
On Nov. 9, 2022, a day after the news broke regarding Binance planning to purchase the exchange FTX, the crypto economy dropped 11.17% in 24 hours. The crypto economy has slid under $900 billion for the first time since January 2021. The Binance and FTX news has come as a shock to a lot of … Read more
The Brazilian Tax Authority RFB registered a new record in the number of Brazilians that invested in crypto, in the month of September. The institution informed through its monthly reports that almost 1.5 million people had purchased crypto during Sept. The number of crypto investors in Brazil increased since August when a little more than … Read more
While the stablecoin economy has seen fluctuations from specific stablecoin tokens either increasing the project’s number of tokens in circulation or decreasing the supply, the stablecoin GUSD issued by Gemini has increased by 129.5% during the last 30 days. GUSD Sees Supply Balloon by Nearly 130% There’s been a number of changes within the stablecoin … Read more
Over three billion in value was erased from the stablecoin economy during the past 30 days. The trend occurred despite the number of tethers in circulation rising by 2.2% last month. On Oct. 1, 2022, tether’s market capitalization was approximately $67.95 billion, and it’s risen to $69.36 billion since then. Circle’s usd coin, on the … Read more
According to Chainalysis, a crypto auditing and blockchain tracking firm, the use of dollar-pegged stablecoins is growing in Latam, specifically in Argentina and Venezuela, due to the common economic problems that both countries are facing. 34% of the “small” transactions include stablecoins in Venezuela, and 31% of these in Argentina, as citizens seek to shield … Read more
