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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Kaiko, a crypto analytics platform, claims that the largest stablecoin by market cap, USDT, has been depegging in August. A stablecoin depegs when it trades below the fiat currency or asset it’s meant to mirror. USDT has
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Despite being touted as a game-changing innovation, the decentralized finance (defi) ecosystem is still not connected to fiat rails largely because of regulatory and compliance issues, Torsten Stuber, the CTO at Pendulum says. According to Stuber, the defi ecosystem will succeed in getting more traditional financial institutions on board once
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This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding the latest bank collapse and the USD Coin (USDC) depeg.We kick things off with this week’s top storiesSilicon Valley Bank collapse: Everything that’s happened until nowThe sudden collapse of Silicon Valley Bank (SVB) has
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USDC depegged over the weekend to 89 cents, and a Buterin-labeled wallet may have bought the dip. Source
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Fissures among the progressive left are primarily responsible for the lack of U.S. regulatory progress around stablecoins, says John Rizzo, senior vice president for public affairs at Clyde Group. Source
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Under the proposal, the community would adopt an emergency switch that would pause peg-stability-module (PSM) swaps on its protocol, freezing the token purchases required to mint new DAI tokens, Sam MacPherson, a protocol engineer at MakerDAO, told CoinDesk. Original Source
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On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and Pancakeswap. Uniswap alone recorded $10.13 billion in trades over the past day, with more than 55% of those swaps
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On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project’s stablecoin, DAI. Makerdao Proposes
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On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin. Additionally, around five other stablecoins have dropped below the U.S. dollar parity
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