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During the last two months, the stablecoin tether has been one of the most traded crypto assets swapped against a myriad of digital currencies. 66 days ago on April 11,…
Amid Tether losing market share over the past few weeks, the Circle-backed USDC stablecoin has been notably growing, with the market value surging to $55 billion.
No user funds have been affected by the exploit, but Inverse Finance has incurred a debt and offered the attacker a bounty to return the stolen funds.
On Thursday, Circle’s CEO Jeremy Allaire announced that the company has launched a new stablecoin pegged to the value of the euro (EUR). Allaire said that the new EUROC token…
A separate graph also saw USDC and BUSD supply drop sharply in May, however both have since rebounded and are close to being back to their respective all-time high levels.
The stablecoin issuer Tether has dismissed rumors concerning the heath of its commercial paper portfolio as completely false and likely spread to induce further panic. Tether Condemns False Backing Rumors...
Tether expects to reduce USDT’s commercial paper backing to $8.4 billion by the end of June 2022 and eventually completely remove it.
The rumor surfaced after a Twitter thread by @FatManTerra shared the alleged details on how Kwon, along with Terra influencers, managed to drain funds while artificially maintaining the liquidity.
An improving Tether discount in Asian markets and positive futures premiums for BTC and ETH suggest a slight recovery is in the making.
Paolo Ardoino, chief technology officer of Bitfinex and Tether, made the case that Tether is a tool for human rights during the World Economic Forum in Davos, Switzerland.