UST

Tether: With UST gone and USDD struggling, is USDT next in line

Tether: With UST gone and USDD struggling, is USDT next in line

With UST mixed into the dust and USDD struggling to keep up; could Tether be the next in line for the stablecoin massacre? The crypto market volatility has ramped up pressure on stablecoins recently after Celsius froze account transactions. The coming days are showing trader pain with the market struggling badly under tightened monetary conditions. …

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Regulators Are Paying Attention to UST

Regulators Are Paying Attention to UST

The introduction of the Libra stablecoin project led to, years later, multiple regulatory approaches and the certainty that sooner or later, governments will have rules in place for how stablecoins can operate. However, all of these efforts have focused on asset-backed stablecoins, not algorithmic stablecoins. The novel structures here might result in new approaches from …

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Stablecoin Issuers Speak Out as UST Craters

Stablecoin Issuers Speak Out as UST Craters

Since Terra began blowing up, DAI, the five-year-old overcollateralized stablecoin overseen by the MakerDAO community, has held its peg and carried out liquidations of collateral in an orderly fashion overnight, which has been “a great test of the system,” said Luca Prosperi, a leader on lending oversight at MakerDAO. Source link

Bitcoin at 16-Month Low as UST Collapse Shows Risks of 'Algo' Stablecoins

Bitcoin at 16-Month Low as UST Collapse Shows Risks of ‘Algo’ Stablecoins

Bitcoin, the largest cryptocurrency by market capitalization, was recently trading at $28,500, down about 7%, although it fared better than most other major cryptos, underscoring its status as a less risky option during tumultuous times for the wider digital assets market. Ether, the second-largest crypto by market cap, was also off, declining approximately 11% over …

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Binance suspends LUNA and UST withdrawals amid market turbulence

Binance suspends LUNA and UST withdrawals amid market turbulence

advertisement Crypto exchange Binance has suspended withdrawals of LUNA and UST tokens as the Terra-based stablecoin struggles to recover its peg to the US dollar. Binance announced the temporary suspensions in a blog post earlier this morning, blaming “a high volume of pending withdrawal transactions” caused by network congestion. “Binance will reopen withdrawals for these …

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