Stablecoin Financial News

12.05 / 00:33

markets Ethereum Stablecoin Bitcoin defi protocols Terra contagion leads to 80%+ decline in DeFi protocols associated with UST

The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered.

11.05 / 22:17

Stablecoin Altcoin Terraform Labs Terra Bitcoin Why did Terra LUNA and UST crash? | Find out on The Market Report

Cryptocurrency investors never thought they’d have to ask which one of TerraUSD (UST) or LUNA would reach $1 first. On May 11, that question became the talk of the crypto-sphere as the Terra ecosystem imploded.

11.05 / 19:51

business Stablecoin network market volatility Celsius Network execs deny rumors of significant losses amid market volatility

The fallout from extreme volatility in the crypto market hasn’t significantly affected Celsius Network, according to its leadership.

11.05 / 19:35

business Blockchain Stablecoin Adoption LUNA meltdown sparks theories and told-you-sos from crypto community

No matter how hard your day is going, spare a thought for LUNA investors today. Do Kwon, CEO of Terraform labs and 18th on Cointelegraph's Top 100, has lost billions of dollars for their investors.

11.05 / 15:33

markets Stablecoin avalanche Dollar Avalanche drops 30% on fears Terra's LFG will dump AVAX next

Avalanche (AVAX) is paying the price for being one of the collateral assets that maintain Terra's native stablecoin TerraUSD's (UST) peg with the U.S. dollar.

11.05 / 14:53

Stablecoin regulation SEC Sec Chair US SEC Chair Worries 'Commingling' by Crypto Exchanges Could Endanger Clients’ Assets

Cryptoasset exchanges are not placing walls between respective parts of their activities, such as trading, custody, and marketing services, which could lead to the “commingling” of their activities, and put their clients’ interests in jeopardy, according to Garry Gensler, Chair of the U.S. Securities and Exchange Commission (SEC). The official also indicated that his agency is looking into the ties between the leading stablecoins and major exchanges.

11.05 / 14:33

business Stablecoin Altcoin Terra Terra founder Do Kwon shares plan to save the UST stablecoin peg

Do Kwon, CEO of Terraform Labs, will not admit defeat. After an 18-hour wait in which his coins Terra (LUNA) and TerraUSD (UST) endured a face-ripping freefall, Do Kwon has announced his “rescue plan" for the Terra community.

11.05 / 12:25

markets Stablecoin Bitcoin Bitcoin Price Terra ‘rescue plan’ still at large as LUNA falls below $5, Bitcoin spikes to '$138K' in UST

Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding cryptoassets.

11.05 / 11:17

Stablecoin MARKET Altcoins Terra recovery UST and LUNA Keep Collapsing, No Word from Do Kwon on Promised 'Recovery Plan'

Both terraUSD (UST) and terra (LUNA) still can't find their price bottom today.

10.05 / 21:33

Stablecoin regulation Tether Federal Reserve Terra Usd financial stability Financial The Fed cites worries about stablecoin in its latest Financial Stability Report

The United States Federal Reserve Board released its semiannual Financial Stability Report on Monday. The report points to volatility on commodities markets brought on by the Russian invasion of Ukraine, the spread of the Omicron variant of Covid and “higher and more persistent than expected” inflation as sources of instability.

10.05 / 19:51

Government Law Stablecoin stablecoin regulation US Treasury Secretary reaffirms need for stablecoin regulation following UST crash

United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a "consistent federal framework” on stablecoins to address risks to financial stability.

10.05 / 15:43

Ethereum Stablecoin MARKET Bitcoin Support Bitcoin & Crypto Selloff: Liquidations, Extreme Fear, Eyes on MicroStrategy, and Possible Support Levels

Bitcoin (BTC) and the broader crypto market went into a sharp selloff over the past day, led lower by a de-pegging of the partially BTC-backed stablecoin terraUSD (UST) and a falling risk sentiment globally.

10.05 / 13:43

markets business Blockchain Stablecoin Suspends network Withdrawals Binance temporarily suspends LUNA, UST withdrawals citing network congestion

As the crypto community still tries to decipher Terra’s ongoing pegging-de-pegging fiasco in relation to its stablecoin offering TerraUSD (UST), major crypto exchange Binance temporarily suspended the withdrawals for Terra (LUNA) and UST on Tuesday.

10.05 / 11:51

Stablecoin MARKET community Bitcoin Conspiracy Theories Abound as Terra Tries to Save UST

TerraUSD (UST), an algorithmic stablecoin hosted by the Terra network and created by South Korea's Terraform Labs, has once again lost its dollar peg after a wave of sell-offs hit the crypto market.

10.05 / 10:49

markets Stablecoin Bitcoin Bitcoin Price 'Kwontitative easing' — BTC price hits $43K in UST as Terra empties $2.2B Bitcoin bag

Bitcoin (BTC) fell below $30,000 for the first time in ten months on May 10 as turmoil at Blockchain protocol Terra continued.

10.05 / 10:39

business Blockchain Stablecoin Dubai Nouriel Roubini oversees the development of tokenized dollar replacement

Economist and cryptocurrency critic Nouriel Roubini is heading up the development of a tokenized asset to combat fears of rampant economic stagnation and inflation.

10.05 / 07:07

ETH BTC Stablecoin BNB Bitcoin Tests USD 30K, Ethereum Dives, LUNA Halves as UST Loses Peg

Bitcoin price remains in a strong downtrend below the USD 35,000 support level. BTC even dropped below USD 30,000 before recovering. It is currently (04:44 UTC) correcting losses and trading near USD 30,800, but upsides might be limited above USD 32,500. BTC is down almost 9% in a day and 20% in a week.

10.05 / 06:11

Stablecoin defi Altcoin Terra Usd Terra Terra peg mechanism in doubt as UST crashes to 67 cents

The third-largest stablecoin by market cap Terra USD (UST) appears to be in a catastrophic tailspin which has seen it de-peg from the dollar and drop to as low as $0.67 on May 10.

09.05 / 23:51

Stablecoin Terra Bitcoin Bitcoin Price 42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles

Roughly $1.4 billion worth of Bitcoin (BTC) was reportedly moved from a wallet tied to Luna Foundation Guard (LFG) on Monday, raising questions about its ultimate destination on a day that has seen Bitcoin’s price tumble more than 11%.

09.05 / 20:49

Blockchain Technology Stablecoin Adoption Compound Treasury receives B- credit rating from S&P Global Ratings

On Monday, decentralized finance, or DeFi, protocol Compound Treasury announced that it received a credit rating of B- from S&P Global Ratings. As told by the team at Compound, this represents the first time a major credit agency has issued a rating for an institutionalized DeFi protocol. The S&P Global Ratings' investment suitability scale ranges from AAA (extremely strong) to D (in default). A score of B- indicates the issuer can meet financial commitments, though vulnerabilities to business, financial, and economic conditions persist.

09.05 / 15:19

Stablecoin lending Terra Bitcoin Luna Foundation Loans Out BTC to Defend Bitcoin Peg, Faces Community Backlash

The Luna Foundation Guard (LFG), the entity tasked with holding bitcoin (BTC) as part of the reserves backing the TerraUSD (UST) stablecoin, has loaned out USD 750m worth of BTC to a trading firm “to help protect the UST peg.” Confronted with what this really means, Terra (LUNA) founder Do Kwon claimed that the LFG is not seeking to exit its BTC position.

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