Tether, the issuer of the world’s largest stablecoin, said in a blog post it has cut its commercial paper holdings to zero and replaced them with U.S. Treasury bills. Tether is the issuer of stablecoin USDT, a token that claims to have a 1:1 peg with the U.S. dollar. Due to a February 2021 settlement … Read more
A whale is transferring Bitcoin (BTC) worth tens of millions of dollars amid a downturn in the choppy crypto markets. According to whale watcher Whale Alert, the large Bitcoin holder transferred 12,970 BTC worth slightly over $248 million at the time of sending from an unknown wallet to another unknown wallet. Data from decentralized networks … Read more
Indian traders are eschewing Bitcoin and Ethereum in favor of Shiba Inu, according to market data. SHIB is seeing comparatively high volume, despite the harsh tax scheme in the country. Indian traders are not clamoring for the market’s biggest coins like Bitcoin or Ethereum but are instead going for the popular meme token Shiba Inu … Read more
Polkadot-powered stablecoin acala dollar (aUSD) crashed to below 10 cents on Sunday after hackers minted 1.3 billion of the tokens for free. The stablecoin’s issuing network Acala voted to suspend functionality to address the situation. In a tweet on Sunday, Acala said it noticed a configuration issue on its stablecoin protocol Honzon, which directly affects … Read more