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Tether's CTO addressed concerns over USDT's exposure to FTT USDT daily volume sees a spike Members of the cryptocurrency community have been questioning prominent stablecoin companies about their engagements with FTX and FTT. Perhaps, out of worry that a repeat of the Terra scenario might transpire.
Is the exchange running for cover after SOL's collapse?
Crypto Contagion? Once again, crypto markets are sinking, losing over 10% in the past 24 hours, as the collapse of FTX has revealed an Emperor with no clothing.
The crypto trading platform cited “recent industry events” in an email to users announcing the suspension.
Singapore-based Crypto.com told users via email that it had halted withdrawals and deposits for two popular stablecoins on Solana.
"Everyone thought that the major exchanges were not susceptible to any kind of serious meltdown.
Crypto.com withdrawals, deposits news updates: Citing recent industry events, crypto.com informed customers it suspended deposits and withdrawals of (CRYPTO: USDC) and (CRYPTO: USDT) on Solana (CRYPTO: SOL) blockchain. The move comes after the market went through a crypto crash following Binance (CRYPTO: BNB) announced potential acquisition of FTX exchange.
The issuers of the two largest stablecoins, Tether and Circle, have distanced themselves from the FTX situation, saying they have no exposure to the struggling crypto exchange or Alameda Research. The post Tether, Circle deny exposure to FTX, Alameda appeared first on CryptoSlate.
Lausanne, Switzerland, 9th November, 2022, Chainwire KuCoin has announced it will list AirDAO's $AMB token with a USDT pair on November 9th. The announcement gives KuCoin's 25 million global users the opportunity to participate in AirDAO's up-and-coming DeFi ecosystem, boosting its rapidly growing international community and marking another exciting exchange listing for AirDAO.
Amidst the mayhem surrounding FTX and the Binance deal, there are currently numerous rumors circulating about possible contagion effects. If the takeover by Binance does not materialize, effects similar to the demise of Celsius and Terra Luna could loom.
Coinbase CEO Brian Armstrong said that the recent FTX and Alameda debacle was a result of risky practices such as the misuse of user funds.
"Tether does not have any exposure to FTX or Alameda," Ardoino tweeted, adding: "0. Null. Maybe is time to look elsewhere. Sorry guys. Try again." The post Tether CTO denies exposure to FTX and Alameda after exchange's forced sale appeared first on The Block.
Binance USD (BUSD) is the best-performing stablecoin among the top three stablecoins, as its supply dominance increased by 6% on the year-to-date metrics to 16%. The post BUSD supply dominance grows as USDT's supply drops 4% appeared first on CryptoSlate.
The U.S. dollar-pegged stablecoin issued by Tether, USDT, has been rising in popularity in Lebanon amid rising inflation that has made access to foreign exchange from traditional channels difficult.
The physical gold-backed stablecoin seeks to digitally revive this abandoned 1970s monetary system.
With the Federal Reserve attacking inflation along with other major headwinds, investors must approach cryptos carefully.
The USDT transaction volume reached a new high over the last four months according to Glassnode's latest tweet posted on 7 November. With multiple factors in favor of USDT, it appears that the stablecoin may not be losing its dominance anytime soon.
Bitcoin (BTC), Tether (USDT), and crypto mining thrive in Lebanon, where financial issues have shuttered the country.
As Lebanon's economy spirals into hyperinflation, locals explain how cryptocurrency has replaced a financial system that no longer makes sense. CNBC's MacKenzie Sigalos reports.
Many crypto investors put their earnings into the stablecoin Tether (USDT) – but presale projects Dash 2 Trade, IMPT, and Calvaria may be safer options.
The unsustainable financial system in Lebanon has brought some Lebanese to crypto. The post Lebanon Locals are turning to Bitcoin, Tether amidst an economic crisis appeared first on CryptoSlate.
As hyperinflation grips Lebanon, the nation has turned towards decentralised mechanisms like cryptocurrencies to sustain its livelihood in the long run. Lebanese citizens have started accepting digital crypto payments, which have now become an integral part of their day-to-day lives.
Once known for its stable and investment-friendly banking system, Lebanon has plunged into chaos as hyperinflation grips the country and banks force huge haircuts on dollar withdrawals.
We interviewed Paolo Ardoino during the second day of the Plan B event organized in the city of Lugano, Switzerland
