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Altcoins
The decentralized autonomous organization (DAO) behind Solend, a Solana-based lending protocol, overturned Sunday’s governance vote that would have allowed it to take control of a wallet at risk of liquidation. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts Solend DAO on Monday voted to overturn Sunday’s decision that […]
Ningwei Qin
Altcoins
Dogecoin (DOGE) has gained 11% since billionaire Elon Musk said that he would continue to support and buy the cryptocurrency. See related article: Bitcoin, crypto return to red after rate hike rally wears off Fast facts According to CoinMarketCap data, the memecoin was up more than 12% in the past 24 hours to US$0.05788 on […]
Dylan Butts
Altcoins
The market capitalization of Tether, the world’s largest stablecoin, has dipped to an eight-month low of US$69.4 billion, according to CoinGecko data. See related article: Tether, USDT market cap has dropped by US$10B since UST collapse Fast facts Tether’s market cap has fallen almost US$3 billion since June 14 as investors pull out in a […]
Monika Ghosh
Altcoins
Keith Johnson, a U.S. investor in the Dogecoin cryptocurrency, has filed a US$258 billion class-action lawsuit against Elon Musk and two of the companies he heads, alleging illegal behavior to manipulate the memecoin’s price. See related article: What is the real value of joke coins like Dogecoin and SHIB? Fast facts The lawsuit alleges: “Since […]
Pradipta Mukherjee
Altcoins
USD Coin (USDC) creator Circle announced on Thursday it will release the Euro Coin (EUROC), a redeemable stablecoin pegged to the euro, on June 30. See related story: US$500 mln in USDC added to TRON DAO USDD reserve Fast facts Ethereum-based EUROC will join Circle’s USDC, which is the world’s second-largest stablecoin with over US$54 […]
Dylan Butts
Altcoins
Analysis by the blockchain data platform found the collapse of TerraUSD (UST) took place in three stages — a few large trades broke UST’s peg triggering a selloff, there were attempts to restore the peg, but continued selloff finally drained all funds. See related article: Run on UST cuts the ground from under Terra’s feet Fast facts […]
Monika Ghosh
Altcoins
Terra’s LUNA/UST death spiral was entirely predictable — and it served as a stress test for better-designed stablecoins, writes Gytis Trilikauskis of MEV Capital.
Gytis Trilikauskis
Altcoins
TRON DAO announced it has added US$500 million in USDC to its reserve to bolster its algorithmic stablecoin’s dollar parity, but USDD has been off its peg to the greenback for about two days. See related article: Michael Saylor, MicroStrategy stick to their guns on Bitcoin Fast facts See related article: Bitcoin, Ether bear brunt […]
Ningwei Qin
Altcoins
TRON founder Justin Sun on Monday said he will set up a US$2 billion fund to support the dollar peg of the project’s stablecoin USDD and “fight” against short sellers, after the stablecoin’s price fell to US$0.97. See related article: Binance resumes Bitcoin withdrawals Fast facts USDD uses an algorithmic mechanism to keep its dollar […]
Ningwei Qin
Altcoins
CEL has dropped 53.1% over the past 24 hours and was trading at US$0.20, at press time, according to CoinGecko. Fast facts Crypto staking and lending platform Celsius Network paused user withdrawals, swaps, and transfers on Monday, citing “extreme market conditions,” driving its native token to shed more than half of its value. The lending […]
Yohan Yun
