This week saw Bitcoin slipping again until it fell below the $22,000 level on Friday, losing more than 7% in a single day. Ether was affected too, as the second largest cryptocurrency by market cap fell below $1,700 on Saturday This week saw Bitcoin slipping again until it fell below the $22,000 level on Friday, […]
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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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The benefits would hinge on how such private companies issuing digital assets are regulated The benefits would hinge on how such private companies issuing digital assets are regulated Consumer-focused digital tokens issued by private companies could be better than central bank-issued tokens assuming the companies can be regulated appropriately, the Australian central bank governor said […]
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Repeated assurances by the backers of Tether, the biggest stablecoin, that the token is backed by ample reserves and working smoothly haven’t been enough to reassure markets. A so-called liquidity pool that allows traders to swap between the three biggest stablecoins still shows an elevated supply of Tether, with the token accounting for 65% of […]
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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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Tether already has cryptocurrencies known as ‘stablecoins’ pegged to four other fiat currencies Tether already has cryptocurrencies known as ‘stablecoins’ pegged to four other fiat currencies Tether, the largest stablecoin issuer by market cap, unveiled on Wednesday a token linked to the British Pound (GBP). One GBP₮ token would be worth one British Pound Sterling, […]
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Major crypto firm Tether said on Wednesday it will launch next month a “stablecoin” pegged to the British pound, a move that comes as London draws up plans to regulate the fast-growing type of digital currency. Stablecoins are cryptocurrencies designed to keep a steady value against traditional currencies or commodities such as gold. They seek […]
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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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An affiliate of the company behind collapsed stablecoin TerraUSD on Monday said it had spent the bulk of its reserves trying to defend its dollar peg last week and would use what little remained to compensate some users who had lost out. The token’s crash last week sent cryptocurrencies tumbling, a slide that resumed on […]
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