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The co-founder and CEO of Circle, Jeremy Allaire, has announced the cryptocurrency firm that issues the stablecoin usd coin plans to provide the public with weekly stablecoin reserve reports. Additionally, the company Tether has also released an assurance report on its stablecoin reserves via the Cayman Islands auditing company MHA Cayman. Circle CEO Says Firm’s … Read more
“It was clear to me, it was clear to many that I know that it was a bad idea,” said Tether and Bitfinex CTO Paolo Ardoino. Go to Source Powered by WPeMatico
The fallout from Terra’s collapse continues as outflows from Tether (USDT) hit an average of $1.1 billion a day over the past week. Go to Source Powered by WPeMatico
Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster the project’s reserves. In addition to the tron purchases, … Read more
The dangers posed by stablecoins to the traditional market cannot be dismissed due to Tether’s exposure to the U.S. credit system. Go to Source Powered by WPeMatico
Nothing keeps a Bitcoin bull down for long, and now, BTC price action is back above $30,000 after 24-hour gains of 30%. Go to Source Powered by WPeMatico
USDT is the latest stablecoin causing nervousness as Tether insists that operations are continuing as normal. Go to Source Powered by WPeMatico
During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as Terra’s native digital asset dropped 97% in value against the U.S. dollar in 24 hours. Terrausd has slipped 67% lower than the $1 parity and … Read more
On Monday, May 9, 2022, the stablecoin terrausd (UST) lost its parity with the U.S. dollar and dropped to an all-time low of $0.66 per unit. The stablecoin has been one of the most topical discussions in crypto during the past 24 hours, as many have been betting on whether it will fail or recover. … Read more
As bitcoin dropped to fresh new lows on Monday, the price of terra (LUNA) slid by 33.3% during the last 24 hours. Moreover, the project’s stablecoin terrausd (UST) has lost stability, dropping to $0.932008 per token. Additionally, the Luna Foundation Guard’s bitcoin wallet and ethereum Gnosis safe address has been emptied. LUNA Price Puts Intense … Read more
