The issuers of the two largest stablecoins, Tether and Circle, have distanced themselves from the FTX situation, saying they have no exposure to the struggling crypto exchange or Alameda Research. Tether distances self Tether’s CTO Paolo Ardoino said in response to a Wu Blockchain tweet that the USDT issuer had no exposure to FTX or…
The crypto community fears FTX might cause another Terra-like crash after the stablecoin reserves on the exchange fell significantly over the last 24 hours. FTX stablecoin outflow leads other exchanges As reported by The Data Nerd, Nansen data shows that FTX stablecoin outflow was the highest among exchanges over the last seven days. According to…
Press Release: Wanchain launches the cross-chain XFlows bridge update, bringing native-to-native USDT cross-chain transfers for Ethereum, BNB, and many other top coins. 28th September 2022, London – Wanchain has announced its new ‘XFlows’ cross-chain bridge upgrade which will revolutionize trading of the world’s number one stablecoin, USDT, against many other widely used tokens. This…
Often an overlooked part of the cryptocurrency market, stablecoins can be used to determine the current state of the market. Stablecoin balance on exchanges represents “dry powder,” or idle liquidity that can become a strong driving force in the market. The total stablecoin balance on exchanges has only recently become a significant factor in the…
Circle CEO Jeremy Allaire said Binance’s decision to convert its users’ USD Coin (USDC) holdings to its Binance USD (BUSD)stablecoin is good. Helpful perspective from @wintermute_t , which is spot on. Converged dollar books on Binance — now same as on FTX and Coinbase — is a good thing. USDC utility just increased. https://t.co/QWfMx7f1cZ —…
The ratio of Tether (USDT) on exchanges is up 20% in the last three months, according to Santiment data. 📈 The ratio of #Tether on exchanges has gone from 19.7% on May 9th to a whopping 42.0% three months later. This can be viewed as both a signal that traders have taken profits as prices…
Tether’s (USDT) liquidation of the $840 million loan it gave to Celsius could be under scrutiny under bankruptcy law to determine if the process was valid, the Financial Times reported July 26. The stablecoin issuer had revealed that it recouped its loan to Celsius by selling the Bitcoin (BTC) the embattled firm had pledged as…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Tron has become the third-largest network by total value locked (TVL) in DeFi protocols a month after launching its algorithmic stablecoin, USSD. The Justin Sun-led protocol saw its TVL rise to over $6 billion within the last 30 days, placing it…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Crypto traders withdrew around $10 billion from Tether USDT in the last two weeks as talks of increased regulatory scrutiny for stablecoins continue to grow. CryptoSlate data shows that the circulating supply of USDT dropped to $73.3 billion on Monday from…
Pro-crypto commissioner of the Securities and Exchange Commission (SEC) Hester Peirce, popularly known as crypto mom, said there might be some developments towards stablecoin regulation soon, according to a Reuters report. Pierce commented on the development at an online debate organized by the London-based Official Monetary and Financial Institutions Forum (OMFIF) policy think tank. Stablecoin…