Stablecoin Purchases Surged Amid Wednesday’s Crypto Market Drop

The crypto market took a turn for the worse on Wednesday when it lost nearly $30 billion in total market capitalization – but not every asset struggled to find buyers. In fact, certain stablecoins like USD-C, TUSD and DAI each witnessed a more than 200 percent increase in 24-hour trading volume amid the broader market sell-off […]

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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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Kraken Strikes Back at Tether Price Manipulation Claims

Cryptocurrency exchange Kraken is calling foul on allegations that its tether (USDT) markets are frequently characterized by trading activity commonly associated with wash trading and other forms of market manipulation. Last week, Bloomberg published an investigative report examining trades involving tether, a “stablecoin” allegedly backed by physical U.S. dollars at a 1:1 ratio. Controversy has […]

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Cryptocurrency Markets Post Recovery in Weekend Trading Respite

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Cryptocurrency markets are finally showing signs of life after enduring a difficult start to the year that wiped $120 billion from the market in recent days, dragging it down from $590 to $470 billion. At the time of writing, Bitcoin was up almost […]

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