The partnership marks the first time for a community bank to custody reserves for a stablecoin.
Investors Pile Into Short Bitcoin ETF Betting on Prices to Fall
ProShares Inverse Bitcoin ETF (BITI) saw large inflows after a lackluster opening day.
‘Enormous Outflows’ From Largest Bitcoin ETF May Have Triggered BTC Crash
The Canadian Purpose Bitcoin ETF lost half of its assets last Friday before bitcoin crashed, leading to ProShares’ futures-based BITO taking over the top spot as the largest bitcoin-focused ETF by assets, Arcane said in a note.
Biggest ‘stETH’ Pool Almost Empty, Complicating Exit for Would-Be Sellers
A trading pool that large institutional investors such as Alameda Research and Three Arrows Capital have used to dump their “stETH” tokens is now nearly drained and heavily imbalanced, potentially trapping retail investors as well as the embattled crypto lender Celsius.
Tether Sees New Wave of Redemptions as Fear of Market Contagion Spreads
Investors pulled out some $1.6 billion this week from USDT, the largest stablecoin by market capitalization, in the wake of Celsius and Three Arrows Capital facing financial woes.
‘Staked Ether’ Becomes Focus of Crypto Stress, From Celsius to Three Arrows
The price gap between the locked-up ether on Lido and spot ether jumped to record highs as large holders sell their tokens, drawing concern of a potential ripple effect on crypto lending markets.
Tron’s Stablecoin Peg to Dollar Wobbles; Justin Sun Swears to Deploy $2B to Prop Up
Decentralized USD (USDD) fell to as low as 91 cents on crypto exchanges early Monday as crypto markets crashed in the wake of the latest liquidity crisis.
Bitcoin Funds Rake In New Money as Altcoin Funds Suffer
Staked Ether Discount After Terra Collapse a Sign of Liquidity Crunch in Crypto
The price gap between the locked-up ether (stETH) and spot ether (ETH) might be a sign of traders demanding compensation for Ethereum’s “Merge” risks, a FundStrat analyst said.
What Is Tether? How USDT Works and What Backs Its Value
Tether’s USDT is the most popular stablecoin and widely used by traders, although it is not without controversies. Here’s what you need to know about it.
Crypto Whales Ditched Tether for USDC After Stablecoin Panic
After Terra’s collapse, whale addresses on the Ethereum blockchain ditched Tether’s USDT, the largest stablecoin, to flock to the perceived safety of its competitor, USDC.
Crypto Funds Shrink to Lowest Since 2021 Summer Bear Market
Investors pulled out $154 million from bitcoin funds last week, a stark reversal from the $299 million of inflows reported for the prior period, according to CoinShares.
Crypto Funds Saw Year’s Highest Inflows as Terra Crisis Crashed Markets
Some $274 million flowed into digital asset funds as investors bought the dip during Terra’s turmoil kicked off a broad market sell-off.
Crisis in Terra’s UST Stablecoin Spreads to Neutrino USD on Waves Protocol
UST’s Bitcoin Reserve Too Late in Coming to Save Dollar Peg
Luna Foundation Guard’s billions of dollars in bitcoin without an actual infrastructure ready to deploy left Terra’s stablecoin UST vulnerable to a ‘Soros-style attack’, an analyst said.
Investors Flee Terra’s Anchor as UST Stablecoin Repeatedly Loses $1 Peg
Deposits on the Anchor protocol plunged below $9 billion from $14 billion since Friday after Terra’s stablecoin, UST, struggles to recover to $1. ANC, the protocol’s token fell 35% during the day.
Bitcoin Funds Had Surprise Inflows as Markets Plunged
Some $45 million flowed into bitcoin-focused funds in the week through May 6, as investors apparently bought the market dip.
‘Revolution’ Promised by Tron’s Justin Sun Looks Like Clone of Terra’s Algorithmic Stablecoin
Tron, an Ethereum competitor blockchain, is the latest to launch an algorithmic stablecoin inspired by the success of Terra’s UST. It has lofty goals for USDD, but Tron’s lackluster track record of luring people to use its blockchain raises doubts.
LUNA Supply Drops to All-Time-Low – But Don’t Call It Deflationary
To keep up with the demand for Terra’s UST stablecoin, LUNA tokens are burned to maintain the $1 peg. All things being equal, less supply could help to support the price.
Bailout Fund, Backstop or Bouncy Ball? Here’s How LFG’s Bitcoin ‘Reserve’ Might Work
Developers of the fast-growing stablecoin UST say the coin’s $1 value peg isn’t “backed” by anything – just a blockchain-based algorithm. So why does it need a multibillion-dollar bitcoin reserve, in case of an emergency? How would that work?