Other, smaller-circulation stablecoins lost their pegs, too, including BUSD, issued by Paxos, and crypto-backed stablecoin DAI, issued by MakerDAO. Only USDT seemed to benefit from the turmoil, briefly exceeding $1, most likely because of investors […]
During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, […]
Data shows Tether USD (USDT) has benefited from the recent chaos with the USD Coin (USDC) peg, as the stablecoin’s dominance has now hit 57.8%. Tether (USDT) Dominance Has Surged To 57.8% Now As per […]
On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted […]
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only […]
Major blockchain infrastructure platform Paxos Trust Company is holding discussions with the US Securities and Exchange Commission (SEC) concerning Binance stablecoin BUSD, according to a report by Reuters. The company earlier received a notice from […]
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