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Tether Loses Peg: Massive USDT Sell-off on Curve, Uniswap Suggests Shift to Other Stablecoins
15.6.2023
Tether’s stablecoin USDT has lost its dollar peg after two major pools for stablecoin trading became heavily imbalanced.
On-chain data shows traders have been exchanging millions of dollars worth of USDT for other popular stablecoins like USDC and DAI on Uniswap and Curve pools....
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TrueUSD Loses Dollar Peg Following Minting Suspension with Prime Trust
11.6.2023
TrueUSD, a major fiat-collateralized stablecoin, has lost its peg following the announcement that it has suspended minting activities through its technology partner Prime Trust.
In early Saturday hours, TUSD started distancing away from its intended $1 peg, dropping to as low as $0.993090 before...
TrueUSD stops minting via Prime Trust, loses dollar peg
10.6.2023
The recent depeg comes as TrueUSD team announced a pause on TUSD minting through Prime Trust until further notice
Latam Insights — Venezuela’s Maduro States De-Dollarization Is ‘Inevitable,’ Argentina Raises Interest Rates to Close to 100%
23.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Venezuela makes a push for de-dollarization, the Central Bank of Argentina raises interest rates to close to 100%, and Brazil breaks the U.S....
Brazilian President Lula Ends Fuel Price Peg to the US Dollar, Announces Wholesale Discounts
18.5.2023
Brazilian President Luiz Inacio ‘Lula’ da Silva has announced that state oil company Petrobras will not be using US dollar-based international prices to set its internal fuel pricing structure. The “Brazilianization” of the industry determines discounts for distributors...
Terra Classic Advocates Propose Plan to Re-Establish USTC’s Peg With US Dollar, Token’s Value Surges by Over 9%
28.4.2023
Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem...
Crypto users turned to DEXs, loaded up on USDC after Silicon Valley Bank crash
17.3.2023
The collapse of FTX led to a similar exodus from centralized exchanges, as users worried they may lose access to funds during crises
Circle CEO 'able to access' $3.3B of USDC's reserves at Silicon Valley Bank
15.3.2023
Circle’s earlier disclosure that $3.3 billion worth of USDC reserves were held with Silicon Valley Bank resulted in it losing market share to its competitor USDT
USDC Stablecoin Regains Dollar Peg After Silicon Valley Bank-Induced Chaos
13.3.2023
The Circle-issued USDC stablecoin regained its peg to the U.S. dollar after falling below the $1 value it was supposed to hold late Friday hours after Silicon Valley Bank was shuttered by state and federal regulators
Bitcoin price flash spikes to $50K on Binance after USD Coin peg snaps
13.3.2023
The market frenzy that started with the Silicon Valley Bank collapse is pushing BTC price higher but with some casualties left behind
Smart Money Staying Put as USDC Remains Off-Peg
13.3.2023
Data from Nansen shows that the total amount held by smart money wallets, and active addresses, are at multi-month lows
Biden vows to hold those responsible for SVB, Signature collapse
13.3.2023
US President Joe Biden on Twitter said he is "firmly committed" to holding those responsible for the Silicon Valley Bank and Signature Bank collapse "fully accountable."
USDC bounces back toward $1 peg after Fed announcement
13.3.2023
Positive developments concerning Circle's $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg
Arthur Hayes Proposes Bitcoin-Backed NakaDollar, Which Would Rely on Exchanges to Maintain Dollar Peg
9.3.2023
A stablecoin backed by $1 worth of bitcoin and 1x short of a bitcoin perpetual future can be used to provide stability to such a token, Hayes said
USP Stablecoin Loses Dollar Peg as DeFi Protocol Platypus Suffers $8.5M Attack
16.2.2023
The flash loan attack caused Platypus Finance’s native stablecoin to fall to 48 cents from $1. The potential loss is $8.5 million, according to blockchain security firm CertiK
BUSD Stablecoin Inches Toward $1 Peg After Binance CEO Comments
15.2.2023
Changpeng Zhao on Tuesday distanced himself from the Binance-branded stablecoin
The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg
28.12.2022
2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23 days as BUSD shed roughly 23.3% during the last...
Tron’s Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital
12.12.2022
The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project...
Terra Supporters Hope to ‘Defy the Odds’ by Pumping the Now-Defunct Stablecoin USTC Back to $1 Parity
28.11.2022
It’s been six months since Terra’s algorithmic stablecoin UST (now USTC) depegged from the U.S. dollar and the price has remained depegged from the greenback since May 9, 2022. Currently, the former stablecoin is exchanging hands for $0.02 per unit, but a number of Terra Classic supporters believe...
First Mover Americas: Binance Increases Recovery Fund, wBTC Loses Its Peg
25.11.2022
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 25, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets