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Stablecoin Blues: $3 Billion Erased From the Dollar-Pegged Token Economy, HUSD Depegs, USDC Supply Drops 10%

Over three billion in value was erased from the stablecoin economy during the past 30 days. The trend occurred despite the number of tethers in circulation rising by 2.2% last…

Continue ReadingStablecoin Blues: $3 Billion Erased From the Dollar-Pegged Token Economy, HUSD Depegs, USDC Supply Drops 10%

Tether Hires BDO Italia for Monthly Assurance Reports, USDT’s Quarterly Attestation Shows a 58% Decrease in Commercial Paper

This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia.…

Continue ReadingTether Hires BDO Italia for Monthly Assurance Reports, USDT’s Quarterly Attestation Shows a 58% Decrease in Commercial Paper

Tron’s USDD Regains Stability After Tapping an All-Time Low at $0.92

Between June 13 and June 27, or roughly two weeks, Tron’s stablecoin USDD dropped lower than the $1 parity and slipped to a low of $0.928 per unit on June…

Continue ReadingTron’s USDD Regains Stability After Tapping an All-Time Low at $0.92

USDD Continues to Trade for Under $1 — Tron DAO Reserve Insists Stablecoin Has Not Depegged

Since June 12, 2022, the Tron-based stablecoin USDD has remained below a U.S. dollar in value. On Monday, USDD had a 24-hour trading range of around $0.943 to $0.966 per…

Continue ReadingUSDD Continues to Trade for Under $1 — Tron DAO Reserve Insists Stablecoin Has Not Depegged

Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout

Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to…

Continue ReadingDefi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout

Report: Bitmex, Deribit Liquidate 3AC’s Positions — Negativity Continues to Plague the Crypto Hedge Fund

Two days ago, Bitcoin.com News reported on the crypto hedge fund Three Arrows Capital (3AC) after reports claimed that the company was allegedly struggling with financial hardship and possible insolvency.…

Continue ReadingReport: Bitmex, Deribit Liquidate 3AC’s Positions — Negativity Continues to Plague the Crypto Hedge Fund

Report: Three Arrows Capital Liquidated for Millions, Sources Say Crypto Hedge Fund May Face Insolvency

According to “well-placed sources,” speaking with The Block reporter Frank Chaparro, the digital currency hedge fund known as Three Arrows Capital (3AC) may be facing insolvency after significant liquidations. Sources…

Continue ReadingReport: Three Arrows Capital Liquidated for Millions, Sources Say Crypto Hedge Fund May Face Insolvency

Tron’s USDD Remains Below the $1 Parity for 24 Hours, Token Hits a Low at $0.95 per Unit

Tron’s stablecoin USDD has remained below the $1 parity for well over 24 hours and around 3:00 a.m. (ET), USDD hit a low of $0.958 per unit. The Tron DAO…

Continue ReadingTron’s USDD Remains Below the $1 Parity for 24 Hours, Token Hits a Low at $0.95 per Unit