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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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“Our team are working very hard on alternative channels and solutions in real-time,” OKCoin CEO Hong Fang tweeted. “We've been through much worse times since our inception. If this weekend has told us anything, it's the significance of the future that we are building.” Source
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The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California’s Silicon Valley Bank (SVB)
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Some $4 million in USDC futures were liquidated in the past 24 hours, Coinglass data shows. Original Source
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Each omnipool allocates liquidity of a single asset into different Curve pools. All Curve liquidity provider (LP) tokens get staked on Convex to boost curve (CRV) rewards earnings. Convex (CNX), another Curve ecosystem token, is also rewarded, and so is conic (CNC), Conic’s native token. Source
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Bybit is set to launch a new debit card offering that will allow users to make payments and withdraw cash using cryptocurrency holdings.The Bybit Card will operate on the Mastercard network and will allow for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services. The
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Bybit's move comes a month after Binance, the world's largest digital assets exchange by trading volume, halted dollar transfers and amid a crisis at Silverage, a California-based lender famous for offering traditional banking services to crypto firms, including exchanges. Last week, Bybit said it's evaluating "its ability to continue as
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Bybit has just joined the growing list of exchanges suspending USD transfers. Bybit to no longer support USD deposits Bybit recently announced that USD deposits through Wire Transfer (for US banks) and SWIFT would no longer be available, saying they had “service outages from a partner.” The new changes will take effect
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Dubai-based crypto exchange Bybit has suspended United States dollar (USD) deposits via bank transfers in response to "service outages from a partner". Funds can be withdrawn through wire transfers until March 10. In a blog post from March 4, the crypto firm said that "USD deposits via Wire Transfer (SWIFT) and
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The daily trading volume for BUSD on Coinbase was only about $9 million in the last two months, while the market depth within 2% of the market price was just $600,000, according to data from Kaiko, making the stablecoin’s price vulnerable to wobbles. Market depth represents the open buy and
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