Tether, one of the largest stablecoin has labelled Ethereum’s transition from Proof-of-Work (PoW) algorithm to Proof-of-Stake (PoW) as the most significant moment in blockchain history. This comes a day after USDC stablecoin issuer Circle said that it backs ‘The Merge’. Ethereum’s Merge will soon decrease the blockchain’s energy usage by 99 per cent. This means […]
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Tether, the world’s largest stablecoin, said on Friday it had cut its commercial paper holdings by around 58% as part of an earlier commitment to reduce its exposure to riskier assets. Stablecoins – a variety of cryptocurrencies designed to keep a steady value – are in sharp focus after the collapse of the TerraUSD token […]
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The world’s largest stablecoin Tether is likely being shorted by hedge funds. This comes as the market continues to witness an intense sell-off after the Luna-Terra fiasco. Shorting or short-selling refers to an act of selling a digital asset in the hope that it falls in value and then you can buy it back at […]
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Bitcoin is now up 16.7% from this year’s low of $17,592.78 on June 18, when it tumbled on investor worries about growing troubles in the crypto industry Bitcoin is now up 16.7% from this year’s low of $17,592.78 on June 18, when it tumbled on investor worries about growing troubles in the crypto industry Bitcoin […]
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Cryptocurrency prices are plummeting. A so-called stablecoin lost all its value in a matter of days. A newfangled crypto bank halted withdrawals. And investors have been plunged into financial ruin. Now the crypto industry is grappling with an even grimmer prospect: The worst may be yet to come. Best of Express Premium Premium Premium Premium […]
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Coinbase had earlier this month said it would extend a hiring freeze and rescind a number of accepted offers to deal with current macroeconomic conditions. Coinbase had earlier this month said it would extend a hiring freeze and rescind a number of accepted offers to deal with current macroeconomic conditions. Coinbase Global Inc will cut […]
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Celsius Network, which raised $750 million in funding late last year, is a significant player in crypto lending. Celsius Network, which raised $750 million in funding late last year, is a significant player in crypto lending. Cryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts due to “extreme market conditions”, the company […]
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As cryptocurrency adoption grows globally, retail merchants in the US are willing to accept cryptocurrencies as a mode of payment. In a new report, Deloitte said at least 75 per cent of its users reported plans to accept either cryptocurrency or stablecoin payments within the next 24 months. The survey titled: ‘Merchants Getting Ready For […]
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The stunning fall of the Terra stablecoin made the overall crypto market unstable, wiping out more than $200 billion in the space. The value of Luna Terra plunged about 80 per cent, making the coins now almost worthless. It should be noted that stablecoins work on the supply and demand game. Any stable coin that […]
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