TerraUSD’s failure has shattered the hopes of algorithmic stablecoins. Co-founder of Tether and Ethereum says the structure of UST is defective. The issuer of USDC states that the UST structure is a very high-risk foundation for a stablecoin. The recent market crash of the crypto industry has devastated the hopes
Colin Wu, a China crypto reporter, said the Chinese government could implement even stronger restrictions or even ban stablecoins. Due to the collapse of the Terra network, China’s media source, the Economic Daily, has indicated that the Chinese government may impose even tighter restrictions on cryptocurrencies. The source described how
Terra’s demise has raised fears that other stablecoins may lose their peg. Stellar blockchain digital wallet users will be able to convert their assets into USDC. MoneyGram and the Stellar Development Foundation have teamed together to promote the use of digital currencies more broadly. Users will be able to transfer
The peso, which is now trading at $0.051, will serve as the base currency for MXNT. According to data by Triple-A, most crypto in Mexico is utilized for speculation and trade. A Mexican stablecoin will be introduced in addition to its counterpart USDT, the biggest stablecoin by market capitalization at
Morgan Stanley puts forth their views on crypto regulations. New legislation upon cryptocurrency raises speculations. The U.S may soon come out with its own CBDC. One thing which completely confuses the entire crypto market of any nation, is the frequently changing rules and regulations being imposed on them. Indeed, such
The whole system’s failure has wiped out the ecology and shattered its trustworthiness. A situation where no multisig is involved is strange and hazardous. Theory, loss and response are only some of the reactions to Terra’s extinction. Because of the failure, many thought that this one was doomed. Tether’s Chief
Nox Bitcoin reimburses the money to UST holders who lost in the crash. Crypto users have queried whether Binance will follow suit. Nox promises to refund all UST holders at $1 rate despite the current price being low. The concerted attack in the crypto market is the significant crash of
There is a 15-minute guarantee on exchange rates when using BitPay at TAG. Many stable currencies are accepted, such as USDP, BUSD, and GUSD. TAG Heuer, a premium timepiece maker based in Switzerland, has partnered with BitPay to accept bitcoin and other cryptocurrencies as a mode of payment online, according
A two-week price drop of LUNA to $0.00 prompted Terraform Labs’ legal team to resign. The legal team’s resignation would not be the first in the crypto industry. Following the reported change in employment status for several Terraform Labs’ legal staff members, the long-running issue with Terraform Labs, the blockchain
The lack of liquidity was attributed in part to traders fleeing stablecoin pools. DEI’s price was $0.67 yesterday, down 31.9 percent in the last 24 hours. Stablecoins seem to be having a terrible time. Next in line to join the bandwagon is Fantom-based Deus Finance’s DEI, which recently fell from
