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Recent turmoil in the traditional banking sector, culminating in USD Coin (USDC) losing its peg, could negatively affect stablecoin adoption and potentially increase calls for regulation, argued credit rating agency Moody’s Investors Service. In its latest “Sector Comment” report published on March 16, Moody’s says fiat-backed stablecoins could face new resistance
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Three other wallets previously linked to FTX and Alameda sent $188.58 million to crypto exchanges Coinbase, Kraken and Binance on Tuesday, according to blockchain sleuth Lookonchain. It remains unclear whether capital is being consolidated in line with bankruptcy proceedings or if it is being deployed to generate a yield. Source
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Toni Wahrstätter, an Ethereum researcher who created a Flashbots MEV-monitoring dashboard, told CoinDesk, “In times of extremely high MEV, it's good to know that the MEV rewards mostly end up with the validators, who don't have to run complex algorithms, engage in private deals or anything but just be lucky
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MarketDAO’s stablecoin DAI recently experienced a recovery following a de-pegging event that saw the stablecoin drop from the $1 value to $0.88. As the Silicon Valley Bank saga continues, the price of USDC, which is pegged to the US dollar, experienced a sudden drop over the past two days. MakerDAO’s algorithmic stablecoin
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Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen.Stablecoins are designed to offer a “stable” store of value and medium of exchange compared with
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Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets and depegged the USD Coin (USDC) from the U.S. dollar. Looks like we have
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In response to the extraordinary depegging event of the USD Coin stablecoin caused by the collapse of its counterparty Silicon Valley Bank (SVB), crypto whales have reported severe losses and appear to have embarked on a series of capital flight to protect assets. Du Jun, co-founder of cryptocurrency exchange Huobi
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According to play-to-earn nonfungible tokens (NFT) protocol Aavegotchi on Mar. 11, the entity closed the bonding curve defining the exchange rate between its namesake token (GHST) and the DAI U.S. dollar stablecoin (DAI). The same day, the DAI stablecoin depegged as part of the ongoing USD Coin destabilization, which was,
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