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The asset, which has been valued at less than $1.00 for nearly all of its life, gained ground this week and rallied to $0.985 for the first time since August. Its volatile gains aren't doing anything to fix GHO's reputation as a not-so-stablecoin, but they do set the token close
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Stablecoin TruedUSD (TUSD) slightly lost its dollar peg in the early hours of June 10, following a pause in minting activities through its technology partner Prime Trust. The fifth-largest stablecoin by market capitalization traded at $0.9964 at its deepest point. According to CoinMarketCap, its value is $0.9981 as of this writing.
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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 by re-establishing the once-stable token’s peg with the
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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. Source
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The panic caused due to USD Coin's (USDC) depeg from the U.S. dollar manifested itself in a wrong order, costing traders $50,000 per Bitcoin (BTC), albeit for several minutes.Bitcoin price sees $50K in "fat finger" error The BTC/USDC pair on Binance flash spiked to $50,000 on March 12 around 7 pm UTC.
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Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has new banking partners lined up at “banking open tomorrow morning.”According to CoinGecko data, USDC is up 3.3% over the past 24 hours to
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“We, the crypto faithful, have the tools and the organisations needed to support $1 trillion or more worth of NakaUSD outstanding,” Hayes wrote Thursday. “If this solution were embraced by traders and exchanges, it would lead to a large growth in Bitcoin derivatives open interest, which would in turn create
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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. Original Source
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Changpeng Zhao on Tuesday distanced himself from the Binance-branded stablecoin. Source
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Globally-renowned exchange Binance recently admitted that its BUSD peg was inadequately undercollateralized by $1 billion. On Tuesday, Binance admitted to flaws in its system that cost the platform its Binance Smart Chain BUSD peg and left it at least $1 billion undercollateralized at some point. According to a Binance spokesperson:“The process of
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