Analysts urge calm as Tether depegs from USD, Bitcoin loses $17K rebound
Tether follows Tron’s USDD stablecoin in coming unstuck amid suspicions of shorting involving FTX and Alameda Research. Bitcoin (BTC) and crypto markets saw fresh volatility on Nov. 10 after stablecoin Tether (USDT) unpegged from the United States dollar.USDT/USD 1-day candle chart (Binance US). Source: TradingViewTether executive: “No issues” with USDTData from Cointelegraph Markets Pro and TradingView showed USDT hitting lows of $0.971 on Bitstamp on the day amid fears that the largest stablecoin by market capitalization may fall further. Those fears were stoked by evidence of embattled....
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2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based stablecoin alpaca usd (AUSD) dropped below a U.S. penny in value, only to bounce back to the $0.95 region hours later. Reports say that the Acala protocol was compromised and an attacker managed to mint 1.2 billion AUSD.
Polkadot’s AUSD Stablecoin Slides Well Below the $1 Parity
Besides USDT, USDC, DAI, and a couple of others, a number of stablecoins have had an awful year in terms of holding their U.S. dollar....
Calls for a sharp rebound in the YFI market are growing after the token’s 56 percent decline in the last ten days. At least three independent analysts have provided credible support ranges for YFI/USD in the last 24 hours, a period that has also seen the pair dropping by 18 percent to circa $14,700. A […]
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 […]
On Monday, the stablecoin issuer Tether Operations Limited announced that the stablecoin tether is now supported by the Near blockchain network. Following a number of recent implementations, Near will be the 14th blockchain network that hosts the largest stablecoin by market capitalization. Tether Connects With the Near Protocol Tether has revealed that tether (USDT) is now supported by the Near (NEAR) network, a smart contract blockchain system launched in April 2020. Near’s market valuation makes it the tenth largest smart contract token by market cap, and the 25th out of all....
The Financial Accounting Standards Board received hundreds of letters inspired by MicroStrategy that urge U.S. accounting standards be reconsidered to accommodate companies that hold Bitcoin.