Stablecoin supplies and cash reserves in question amid crypto exodus
The fallout from Terra’s collapse continues as outflows from Tether (USDT) hit an average of $1.1 billion a day over the past week.
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Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since…
Stablecoin Shuffle — Terra Fiasco Shakes up Fiat-Pegged Crypto Economy, Over $35 Billion Disappears
According to statistics on Friday, May 13, the top stablecoins by market capitalization are currently worth $163.7 billion after the stablecoin economy was valued at close to $200 billion just…
Stablecoin Implosion — LUNA and UST Lose Significant Value, Downturn Ripples Across the Crypto Economy
During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as…
UST Rebounds From $0.66 per Coin to $0.93, Crypto Community Assesses Stablecoin’s Damaged Reputation
On Monday, May 9, 2022, the stablecoin terrausd (UST) lost its parity with the U.S. dollar and dropped to an all-time low of $0.66 per unit. The stablecoin has been…
As LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Parity to $0.93
As bitcoin dropped to fresh new lows on Monday, the price of terra (LUNA) slid by 33.3% during the last 24 hours. Moreover, the project’s stablecoin terrausd (UST) has lost…
3 Stablecoins Command Positions in the Crypto Economy’s Top 10, Another Fiat-Pegged Token Is Close to Joining
The last five weeks has been brutal for digital currencies as more than 21% has been shaved off the crypto economy’s fiat value since March 27. While all the crypto…
Finance School Bentley University Now Accepts Cryptocurrency Payments for Tuition
Bentley University, the private university located in Waltham, Massachusetts, has revealed it now accepts digital currencies for tuition payments. Bentley University’s president explained that the school has been “at the…
Banco Galicia Becomes First Bank to Introduce Crypto Trading in Argentina
Banco Galicia, one of the largest financial institutions in Argentina, has introduced cryptocurrency trading as part of the services it is currently offering to customers. Users interested in investing in…
Whale Watching: A Deep Dive Into the Portfolios of the World’s Largest Ethereum Whales
While there’s a number of bitcoin whales that often get caught by blockchain parsers and written about in media reports, ethereum whales get a lot less attention. According to statistics…
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