Untethered: Here’s everything you need to know about TerraUSD, Tether and oth...
Established stablecoin trading pairs have struggled to keep stable at crypto exchanges around the world. Here are the updates as the situation evolves. The crypto winter could be claiming more casualties among the stablecoin camp. The depegging of TerraUSD (UST) on May 10 triggered market selloffs, and now Tether (USDT) appears to be losing its footing. It has slipped against the U.S. dollar.The algorithmic stablecoin UST, as the name implies, is algorithmically backed. Terra (LUNA), the ecosystem's corresponding token, sank over 95% since May 10, while UST continues to languish around the....
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Binance suspended LUNA/BUSD and UST/BUSD on its spot trading platform following the halting of the Terra blockchain. Global cryptocurrency exchange Binance has suspended trading pairs with Terra ecosystem's cryptocurrencies, LUNA and TerraUSD (UST), on its platform following the major crash of the algorithmic stablecoin.Binance confirmed the move on May 13, with spot trading for LUNA/BUSD and UST/BUSD trading pairs being suspended. It's not clear when the withdrawals for LUNA and UST will continue, as the crypto exchange simply stated that it will wait for the issues with the Terra network....
Tether has not issued a statement giving a specific reason for blacklisting three addresses, but it has done so before to comply with law enforcement and aid exchanges after cyber attacks. Tether has added three more Ethereum addresses, holding more $150 million worth of the USDT stablecoin between them, to its blacklist.As a centralized company, Tether is able to blacklist addresses it believes are involved in crime, money laundering — or for any other reason it chooses.This is the first time Tether has blacklisted an address in 2022 but it added 312 addresses to the blacklist last year....
Stablecoin operator Tether has announced its decision to discontinue support for its offshore Chinese Yuan token CNH₮. The USDT operator has attributed this development to a lack of market demand, among other points. Related Reading: Stablecoin Yield ‘Effectively Off The Table’: White House Narrows Rewards Debate In Latest Meeting Tether To Terminate CNH₮ Redemption In […]
The dangers posed by stablecoins to the traditional market cannot be dismissed due to Tether's exposure to the U.S. credit system. The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007's subprime mortgage market crisis — around $1.3 trillion, which has prompted fears that creaking crypto market risk will spill over across traditional markets, hurting stocks and bonds alike.Crypto market capitalization weekly chart. Source: TradingViewStablecoins not very stableA massive move....
Per a press release, the U.S. Commodity Futures Trading Commission (CFTC) has disclosed that their review on Tether Holding Limited and other associated companies has concluded. As a result, Tether has agreed to pay a $41 million fine. Related Reading | Breaking: Tether Executives Could Face Criminal Probe for Alleged Fraud The Commission concluded that Tether […]