A panic across the crypto market early Thursday morning in Europe put the stablecoin tether (USDT)’s US dollar peg under pressure, with the token trading as low as USD 0.91 on some exchanges. The crash has led some to wonder why arbitrage traders don’t seem to want “free money.”… Read More: Market Panic Puts…
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Global market maker Citadel Securities and major asset manager BlackRock have denied involvement in the collapse of Terra’s algorithmic stablecoin TerraUSD (UST). The assertions came after a conspiracy theory that alleged Citadel Securities and BlackRock made a coordinated attack on UST and hugely profited from its collapse had spread like wildfire on social media…
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Do Kwon, co-founder and CEO of Terraform Labs, the entity behind Terra (LUNA), found himself in a peculiar position with his bet that LUNA would stay above USD 88 – as the coin dropped over 90% in a single day. In mid-March, Do Kwon took a bet with pseudonymous Twitter user Sensei Algod, a…
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Terra (LUNA) founder Do Kwon on Wednesday finally took to Twitter again, floating ideas for how the algorithmic stablecoin terraUSD (UST) can be saved after losing its US dollar peg on Monday. (Updated at 10:51 UTC: updates throughout the entire text.)… Read More: Terra’s Do Kwon Floats Ideas to Save UST as LUNA’s Collapse…
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Chinese banks are exploring new methods of enabling digital yuan users to earn interest on their central bank digital currency holdings – with “smart management” tools that can detect when funds have been left idle for long periods of time…. Read More: Chinese Banks Launch Automatic Digital Yuan-to-Fiat Conversion Tools Read more »Pay, Trade,…
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The Sand Dollar, a central bank digital currency (CBDC) developed by the Bahamas, has the potential to “foster financial inclusion and payment system resilience” in the Caribbean nation, a new report from the International Monetary Fund (IMF) has said…. Read More: Sand Dollar CBDC Could ‘Foster Financial Inclusion’ in the Bahamas – IMF Read…
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TerraUSD (UST), an algorithmic stablecoin hosted by the Terra network and created by South Korea’s Terraform Labs, has once again lost its dollar peg after a wave of sell-offs hit the crypto market. The stablecoin, which is supposed to maintain a value of USD 1 by creating and destroying supply through a swap with…
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The Luna Foundation Guard (LFG), the entity tasked with holding bitcoin (BTC) as part of the reserves backing the TerraUSD (UST) stablecoin, has loaned out USD 750m worth of BTC to a trading firm “to help protect the UST peg.” Confronted with what this really means, Terra (LUNA) founder Do Kwon claimed that the…
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The e-payments giant Alipay, part of the Alibaba business empire, has added an advanced search function for users wishing to use its platform to make payments using the digital yuan within the fast-expanding pilot zone…. Read More: Alipay Provides Digital Yuan Boost as COVID-19 Deals PBoC Blow Read more »Pay, Trade, Buy Bitcoin with…
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The price of Ripple-affiliated XRP could be worth as much as USD 2.55 by the end of the year, provided Ripple wins its ongoing court battle with the US Securities and Exchange Commission (SEC), according to the average forecast by a panel of experts surveyed by comparison website Finder.com. At 10:36 UTC, XRP, ranked…
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