TerraUSD/USD Coin Metrics
After the crypto crash, here’s what industry experts are waiting for next
A visual representation of Bitcoin cryptocurrency. Edward Smith | Getty Images Cryptocurrency companies dominated the main street at the World Economic Forum in Davos this year, a notable difference between this edition and the last one in 2020. The high-profile presence from the industry came even as the cryptocurrency market crashed. It was sparked by […]
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TerraUSD collapse will ‘probably be the end’ of most algorithmic stablecoins, crypto exec says
Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, dropped to $0. The collapse of the algorithmic stablecoin TerraUSD has raised question about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images Algorithmic stablecoins like terraUSD, which collapsed and sent shockwaves through the cryptocurrency market, are unlikely to survive, […]
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Britain plans new safeguards for stablecoins that go bust in wake of Terra’s collapse
The world’s biggest stablecoin, tether, saw more than $10 billion in redemptions in May, fueling fears of a 2008-style “bank run.” Justin Tallis | AFP via Getty Images Britain wants to make sure stablecoins don’t end up threatening the wider financial system following the collapse of controversial crypto project Terra. The government on Tuesday proposed […]
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The luna cryptocurrency has been resurrected after its $40 billion collapse. It’s already crashing
Cryptocurrency markets have seen a steep sell-off after the collapse of controversial blockchain project Terra. Dan Kitwood | Getty Images A new version of the collapsed luna cryptocurrency is already live on major exchanges — and it’s gotten off to a bad start. Last week, supporters of the Terra blockchain project voted to revive luna […]
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‘We’re in a bear market. And I think that’s good’: Crypto firms hope market slump shakes out bad players
Executives from the blockchain and cryptocurrency industry told CNBC that the recent crash in the digital coin market should help get rid of “bad actors” in the space. Billions of dollars of value has been wiped off the cryptocurrency market in the last few weeks driven by a sell-off in stocks and the collapse of […]
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Terra backers vote to revive luna — but not UST — after $60 billion crypto collapse
The UST stablecoin plunged below its intended $1 peg in May, causing panic in the crypto market. Gabby Jones | Bloomberg | Getty Images Backers of Terra have approved a plan to revive the failed cryptocurrency venture — without the controversial stablecoin that helped trigger its stunning demise two weeks ago. “With overwhelming support, the […]
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Tether claims its stablecoin is now partially backed by non-U.S. government bonds
Tether previously claimed its stablecoin was backed 1-to-1 by U.S. dollars. Justin Tallis | Afp | Getty Images The issuer of the stablecoin tether said in a report that the controversial digital currency is now backed in part by “non-U.S.” government bonds. Stablecoins are a type of cryptocurrency pegged to the value of sovereign currencies […]
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Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing
Tether has faced repeated calls for a full audit of its reserves. Justin Tallis | AFP via Getty Images Investors have withdrawn more than $7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world’s largest stablecoin. Tether’s circulating supply has slipped from about $83 […]
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Regulators are growing anxious about stablecoins after Terra’s stunning collapse
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the U.S. dollar, has erased much of its value this week […]
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World’s biggest stablecoin regains dollar peg after $3 billion in withdrawals
Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which […]
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