Stablecoin Flippening: UST Becomes the Biggest Decentralized Stablecoin By Market Cap
UST, one of the stablecoins of the Terra project, has become the largest stablecoin by market capitalization today, after having surpassed its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem, which is now among the most valuable top ten cryptocurrency projects in the market.
Why Tether is dangerous for crypto market
Stablecoin Tether is one of the main channels for converting fiat money into cryptocurrency. The recent erroneous emission of 5 billion USDT has once again reminded that the centralisation of projects can seriously harm the entire crypto industry.
Tether Mistakenly Mints, Then Immediately Burns $5 Billion USDT
Stablecoin operator Tether accidentally minted and subsequently burned 5 billion USDT tokens, Whale Alert tweeted on July 13.
$150 Million New USDT Tether Printed: What Does It Mean?
The most popular stablecoin issuer Tether has printed yet another $150M worth of USDT. The Chief Technical Officer at Bitfinex, which is associated with Tether, Paolo Ardoino, has weighed in, saying that the amount is authorized but not issued.
Usd-Pegged Stablecoins Surge As Market Cap Exceeds $4 Billion
Market capitalisation for USD-pegged stablecoins including USDC, UDS and USDT exceeds $4 billion in May, with surge in trading.
Expert: In the US, many cryptocurrencies are considered to be securities
In the United States, the Securities Commission has not fully determined its position on cryptocurrencies, which creates a certain conflict in the matter of their regulation, especially in the context of the Tether scandal. That’s what in an exclusive comment for LetKnow.News said Krystyna Nyemchynova, a co-founder of legal fintech consulting Brightman.
Tether Lawyer Admits Stablecoin Now 74% Backed by Cash and Equivalents
The USDT stablecoin is only about 74 percent backed by fiat equivalents as of April 30, says its issuer’s general counsel.
Tether (USDT) Prints New Coins as Treasury Runs Out of Funds
The Tether treasury wallet was almost emptied out, falling to 57 million coins, before the new printing raised the stores to more than 273 million. Now, USDT coins have proliferated again, with a circulating supply of more than 2.8 billion, up from under 2 billion coins just a few months ago. The influence of USDT is seen as one of the chief drivers of Bitcoin (BTC) price movements. As of Friday, more than 71% of all BTC trades were in the pairing with USDT.
Tether network registered highest number of transactions on record
On March 31, the Tether network registered 38,150 transactions which is an all-time high. Meanwhile, Tether Limited, the company behind the token, renewed the token’s collateral policy.
USD-Backed Crypto Tether Re-Enables Direct Withdrawals of Fiat
Following an announcement from Bitfinex yesterday regarding their newfound “neutrality” to tether (USDT) and intent to use other stablecoins in addition to USDT, crypto firm Tether has revived its former business model of enabling 1:1 redemption of USDT for USD on its own platform.
Bitfinex Took 630 Million Tether Out of Circulation After Drop Below $1
Bitfinex is sending massive quantities of tether tokens back to the vaults.
Cybersecurity Analysts Find Tether Double-Spending Vulnerability
Chinese private cybersecurity firm SlowMist has found a double-spending vulnerability in Tether (USDT) today, June 28.
Controversial Tether Issues $300 Mln In New Tokens, Critics React
Tether, the altcoin backed by fiat currencies USD and EUR, has issued another 300 mln USDT tokens priced at $1 per token on Tuesday March 20, according to data from Omni Explorer.