Tether’s Price Has Stabilized, But the Stablecoin’s Supply Is Still Shrinking

In what’s become a rarity over the past month, the price of the tether (USDT) stablecoin temporarily regained parity with the U.S. dollar Wednesday. The token traded in the $1.00-$1.01 range for the better part of an hour, according to CoinMarketCap. At the time of writing, it is trading around $0.987. The exchange rate has […]

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Tether Just Burned 500 Million USDT Stablecoin Tokens

UPDATE (24 October 19:25 UTC): This article has been updated to include comments from a Bitfinex spokesman. Shortly before 1:00 p.m. ET Wednesday, Tether, the company behind the dollar-linked stablecoin of the same name, announced via Twitter that it had destroyed 500 million tether (USDT) tokens. Previously, those tokens were held in an account known […]

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Tether Floods Into Kraken Exchange, Where Crypto Traders Can Get Dollars

Tether (USDT) tokens are flooding into a wallet address controlled by the Kraken exchange, one of the few places where the troubled stablecoin can be converted into U.S. dollars. The exchange’s wallet balance stands at nearly 47.8 million USDT at the time of writing, making it the eighth-most valuable wallet holding this asset, according to the […]

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Which Stablecoin Is the Riskiest? The Crypto Market Is Pricing That In

The market is starting to differentiate between stablecoins, even though these cryptocurrencies are all designed to trade 1-to-1 with fiat. Several U.S. dollar-pegged cryptocurrencies are now trading either significantly higher or significantly lower than the greenback, reflecting investors’ perceptions of their relative risk. Given that stablecoins are typically used as on-ramps for investors looking to […]

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Carbon ‘Stablecoin’ Project Raises $2 Million in Seed Round

Cryptocurrency startup Carbon has raised $2 million in seed funding, the company revealed to CoinDesk, Thursday. Investors in the round include General Catalyst, Digital Currency Group, FirstMark Capital, Plug and Play Ventures and The Fund. Carbon did not disclose its valuation. The investment round brings the project a step closer to launching a dollar-pegged cryptocurrency […]

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