A wallet associated with Justin Sun reportedly profited more than $3.3 million. The profit was made in a series of trades after USD Coin lost its dollar peg. The Tron founder reportedly exchanged all ...
Tag: DePeg
Curve Finance, Uniswap Trade Volumes Soared Amid USDC Depeg
Several DeFi players have posted some serious figures amid the market’s latest chaos. The trading volume on the decentralized stablecoin exchange Curve Finance hit $6.03 billion on March 11 due to the...
Why Did USDC Depeg? Circle CEO Gives the Inside Story
Circle CEO Jeremy Allaire spoke on Tuesday recapping the Silicon Valley Bank (SVB) and USDC drama from his company’s perspective. According to Allaire, all of the company’s cash reserves are now stor...
USDC CEXs hits 12 month high following USDC depeg event: Messari
USDC available on centralized exchanges has hit a 12-month high despite the recent calamity surrounding the depeg event. (Source: Messari) Coinbase was forced to temporarily halt USDC to USD conversio...
How Could USDC Depeg Fear Have Made Traders A Fortune With Avorak AI?
USDC Fear The effects of both Silvergate and Silicon Valley Bank collapses have rippled through the financial sector, most notably affecting cryptocurrencies. Nearly 10% of the total backing for the U...
USDC’s De-peg Did Not Influence ETH and BTC’s Prices: Report
Santiment tweeted its latest insights about the USDC fiasco. The report suggested that USDC’s de-peg was a result of artificial FUD. USDC has been able to keep its peg to the US Dollar over the last 2...
Lookonchain Reveals a Smart Address That Made $4.14M Amid USDC Depeg
On-chain analyst Lookonchain shared details of a smart address that made $4.14 million amid the USDC chaos. The smart address was able to bag this large amount by trading Ethereum. This address also b...
Circle Boasts New Banking Partner To Calm Markets After USDC Depeg
After losing its dollar peg over a tumultuous weekend for crypto, USDC issuer Circle says its reserves are safe and sound, and it’s moving on to a new banking partner: Cross River Bank. After a ...
DAI recovers after severe depeg caused by USDC ripple effect
MarketDAO’s stablecoin DAI recently experienced a recovery following a de-pegging event that saw the stablecoin drop from the $1 value to $0.88. As the Silicon Valley Bank saga continues, the price of...
How exactly does a stablecoin depeg? – Cryptopolitan
Stablecoins are cryptocurrencies designed to maintain a stable value relative to another asset, often the US dollar. This stability makes stablecoins attractive to investors and traders who want to he...
How and why do stablecoins depeg?
Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen. St...
Why the USDC potential depeg is not a reason to panic
Ad The following is a guest post by Anndy Lian. The crypto industry is currently experiencing anxiety due to concerns about the potential detachment of USDC, a stablecoin supported by US dollars. As a...
Curve Finance trading volume reaches $7B historic high after USDC depeg
Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered...
Crypto whales suffer huge losses due to USDC depeg, SVB collapse
In response to the extraordinary depegging event of the USD Coin stablecoin caused by the collapse of its counterparty Silicon Valley Bank (SVB), crypto whales have reported severe losses and appear t...
Aavegotchi bonding curve closes on exact day of DAI depeg
According to play-to-earn nonfungible tokens (NFT) protocol Aavegotchi on Mar. 11, the entity closed the bonding curve defining the exchange rate between its namesake token (GHST) and the DAI U.S. dol...
Will the Ongoing USDC Depeg Worsen Crypto Winter Further?
10 seconds ago | 2 mins read Altcoin News 25% of Circle’s USDC cash reserves were managed by Silicon Valley Bank. The market cap of USDC crashed down over 14% in the last 24h. The second largest stabl...
USDC depeg – Everything we know so far as contagion spreads from TradFi banking
Ad What we know so far about the SVB collapse and USDC/DAI depeg (updated): Crypto firm Circle reveals $3.3 billion stuck in SVB DAI/USDC depeg as stablecoin pressure continues after Silicon Valley ba...
XRP Used as Solution by Blockchain Financial Service to Convert Funds During USDC Depeg
In the wake of the USDC depeg event, Austin, Texas-based blockchain financial service Reaper Financial, which focuses on acquiring and burning digital assets, has announced that it is converting the U...
Stablecoins No More Stable: After USDC Depeg, Is Tether’s USDT in Trouble?
The collapse of Silicon Valley Bank (SVB) has caused worry in the crypto industry, especially for investors who use stablecoins like USDC and USDT. Let’s see how this affects these stablecoins. USDC a...
Bitcoin, Ethereum Price Rising Despite Bank Woes, Stablecoins Depeg
The crypto market is witnessing a massive crisis as crypto-friendly banks Silvergate, Silicon Valley Bank, and now Signature Bank faces bank runs. The “bank run” driven by depositors withdrawing money...
Stablecoins In Trouble? USDC, DAI, USDD Depeg As SVB Crisis Deepens
Crypto News: Dealing with a heavy sell off, the global digital asset market registered a broad recovery on Saturday morning. Bitcoin, Ethereum price jumped by 3% and 5%, respectively. However, the top...
Researcher ties Jane Street to notorious ‘Wallet A’ that helped depeg UST
New research suggests that there’s a “good chance” Terra’s collapse was largely triggered by quant trading firm Jane Street. Igor Igamberdiev, head of research at crypto market maker Wintermute, belie...
Wallet Tied to Terra’s UST Depeg Identified to be Jane Street’s: Research
The implosion of Terra last summer still haunts the crypto industry. Numerous post-mortem reports have gone into detail about the wallets that contributed to the collapse while simultaneously adding c...
Jane Street wallet may have been linked to UST depeg, Wintermute researcher says
The wallet associated with last year’s TerraUSD (UST) depeg might belong to trading firm Jane Street, Wintermute Head of Research Igor Igamberdiev said in Twitter thread on Tuesday. Based ...
Justin Sun’s Woes Continue as USDD Depeg Sparks Huobi Concerns
As stablecoin USDD continues to trade below its peg, Justin Sun’s Huobi Global is suffering the consequences. The crypto exchange has lost 18% of its market share volume since 2020 and faces an ...
Huobi’s Market Share Crumbles Amid USDD Depeg
Seychelles-headquartered crypto exchange – Huobi Global – has been in trouble for quite some time now, which has translated into losing significant market share. The company has been mired in controve...
WAVES Price Goes into Free Fall After USDN Depeg
The Waves (WAVES) price has broken down from crucial horizontal and diagonal levels, likely due to the USDN depeg. It is possible that the WAVES price drop occurred as a result of the Neutrino USD (US...
Waves Founder Announces Launch of New Stablecoin Amid USDN Depeg
Altcoin News Ivanov cited the existing USDN model’s insensitivity to market volatility for depeg. At the beginning of April 2022, USDN saw its first significant collapse. Waves CEO and founder Sasha I...
Before the Bankruptcy Filing, FTX Co-Founder SBF Was Told by Crypto Execs to ‘Stop Trying to Depeg Stablecoins’ – Bitcoin News
According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablec...