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The U.S. government again named stablecoins as a potential threat to the stability of the financial system, with both the Federal Reserve and a senior Treasury official saying Monday that the tokens are vulnerable to runs. Source
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Roughly $1.4 billion worth of Bitcoin (BTC) was reportedly moved from a wallet tied to Luna Foundation Guard (LFG) on Monday, raising questions about its ultimate destination on a day that has seen Bitcoin’s price tumble more than 11%. Data from blockchain explorer Blockchair revealed Monday that 42,530.82827771 BTC was spent
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The development comes after the Luna Foundation Guard announced that its massive bitcoin reserves will be used to defend the UST’s dollar peg. Original Source
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Amid the sharp pullback across Bitcoin (BTC) and the wider crypto market this week, the Luna Foundation Guard (LFG) is set to deploy $1.5 billion worth of capital to “help protect” Terra USD’s peg to the U.S. dollar. The Singapore-based nonprofit LFG is part of the Terra (LUNA) ecosystem and
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The move comes after UST briefly lost its peg to the U.S dollar over the weekend. Original Source
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UST briefly lost its dollar peg on Saturday, leading to questions around whether Terra’s Bitcoin reserves will soon face their first test Original Source
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Neutrino Dollar (USDN), a stablecoin issued through Waves-backed Neutrino protocol, lost its U.S. dollar-peg on April 4 amid speculations that it could become "insolvent" in the future.USDN plunges 15% despite WAVES backingUSDN dropped to as low as $0.822 on April 4 with its market capitalization also diving to $824.25 million,
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USDN's market capitalization had nearly doubled to $850 million in March. Original Source
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As traders gobble up stablecoins for yield farming, demand for MakerDAO’s dai (DAI) has sent the stablecoin’s peg skyward.The yield farming demand continues to put pressure on dai’s $1 peg, which has been under consistent stress since Black Thursday when market volatility sent dai’s price to $1.10.MakerDAO’s community is debating
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During the second week of February, a new project called tBTC was unveiled that is similar to the Wrapped Bitcoin (WBTC) created
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