Euler Finance hacker has started moving some of the stolen funds through sanctioned mixing protocol Tornado Cash, according to on-chain data. Blockchain analytics firm PeckShield reported that the hacker moved 1000 Ethereum (ETH) into the Tornado Cash mixer through an intermediary address “0xc66d…c9a.” The firm added that the hacker still holds 1,500 ETH — roughly…
On-chain investigator Lookonchain reported that a wallet “possibly” connected to Tron founder Justin Sun made $3.3 million from USD Coin (USDC) March 11 depeg. Lookonchain said the address, 0xbcb7, withdrew 50 million USDC from Aave after the stablecoin depegged. The address then swapped this USDC for DAI at a 1:1 ratio while also withdrawing over…
Ad Binance USD’s (BUSD) supply shrank by 18.2% — roughly $2.27 billion — over the last seven days to $10.84 billion, according to CryptoSlate’s data. The massive redemptions have seen the stablecoin drop out of the top 10 cryptocurrencies by market cap, according to CoinGecko. During this period, Binance burnt $2 billion idle BUSD on…
Ad The cryptocurrency market cap saw net outflows of $20 billion over the weekend and currently stands at $1.11 trillion — down 1.68 % from $1.13 trillion. During the reporting period, Bitcoin and Ethereum’s market cap fell 1.10% and 2.50% to $474.74 billion and $204.77 billion, respectively. All top 10 crypto assets recorded losses over…
After a brutal sequence of events led to the collapse of several crypto-related firms in 2022, FTX’s bankruptcy dealt a massive blow to public trust in centralized crypto entities. During this period of heightened market volatility, crypto investors preferred Circle’s USD Coin (USDC) to Tether’s USDT. According to Glassnode’s data, while USDT is the largest…
Curve 3pool’s liquidity currently stands at roughly $600 million, down approximately 90% from $5.5 billion recorded at the start of January 2022, according to Kaiko data. Curve’s 3pool dashboard shows that USDT accounted for 32.6% of the reserve while USDC accounted for 35.37%, and DAI made up 32.02%, as of press time. 3pool is the…
Japan’s Financial Service Agency (FSA) will lift the ban on the local distribution of foreign stablecoins like USD Coin (USDC) in 2023, Nikkei reported on Dec. 26. According to the report, international remittances may become faster and cheaper if stablecoin usage spreads. Local exchanges would be allowed to handle foreign stablecoin transactions “under the condition…
The ongoing bear market did little to curb the rising use of stablecoins. On the contrary, dollar-pegged coins like USDT and USDC saw a parabolic growth in market cap this year, becoming a defacto settlement currency of the crypto industry. Following the collapse of Terra and its algorithmic stablecoin UST, the two stablecoin giants took…
Binance USD’s (BUSD) supply declined by over 15% to $18.8 billion from $22 billion within the last 24 hours after Binance experienced a surge in withdrawals. The withdrawals appeared to have affected BUSD’s supply as it dropped below $20 billion for the first time since climbing above it in September when Binance converted its users’…
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