USDD De-peg Intensifies As Tron’s TRX plummets 19%
The Tron’s native token, TRX took a hit over the last 24 hours after it plummeted in value, meanwhile, USDD stablecoin de-pegging has also intensified. TRX dropped as much as 19% and is now trading at $0.05, its lowest level in 15 months. In the last 24 hours, the token has also been the worst […]
Three Arrows Capital Faces Liquidation Pressure Amid Market Crash
Following a drastic market slump, crypto hedge fund Three Arrows is facing widespread liquidation, which could reduce the firm’s holdings. Three Arrows’ future difficulties have sparked speculation after founder Zhu Su claimed on Twitter that the company is “communicating with relevant parties” and “working this out.” The fund was witnessed selling millions of Lido Staked […]
Tether Plans To Reduce Commercial Paper Backing Of USDT To Zero
By the end of June 2022, Tether plans to lower USDT’s commercial paper backing to $8.4 billion, and then remove it entirely. Tether, a popular stablecoin firm, hopes to someday eliminate commercial paper backing for its US dollar-based stablecoin Tether (USDT). Tether issued an official statement on Wednesday denying claims that its commercial paper portfolio […]
Tron USDD, Waves USDN Depegs Amid Crypto Market Crash
These stablecoins, TRON’s USDD, and Waves’ USDN have been seen de-pegging as the broader crypto market takes a downward turn. Given that they are algorithmic stablecoins that act similarly to UST, the two tokens have gained increasing interest following the recent collapse of TerraClassicUSD. South Korea crypto exchange warn investors on USDD and USDN risks […]
Celsius Set To Maintain Position, Will It Trade Its Bitcoin To Recoup Losses?
The Celsius Network has been experiencing a lot of issues, which has caused a lot of concern in the cryptocurrency market and prompted the network to take risks to maintain position. Celsius Stakes Some Wrapped Bitcoin According to Wu Blockchain, a Celsius-affiliated address has borrowed $278 million worth of DAI tokens in the maker protocol. […]