Major stablecoins destabilized as market volatility and redemptions surge
Nearly all major stablecoins lost their U.S. dollar pegs amid the FTX saga, but most have recovered again as markets stabilize.
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Nearly all major stablecoins lost their U.S. dollar pegs amid the FTX saga, but most have recovered again as markets stabilize.
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CointelegraphRelated market context
Bitcoin ETF Week Stays Positive After Nearly $774 Million In Late Outflows
TL;DR: Farside’s preliminary figures show US Bitcoin funds retaining a $301.2 million weekly inflow despite two days of withdrawal...
Ethereum (ETH) Price Prediction: Whale Rotates $155M Into ETH as Longs Surge Near $2,500
Ethereum is trying to stabilize after another volatile stretch, with price returning toward the mid-$2,400 region while several po...
Bank of Korea Wants Stablecoins Written Into Forex Law as Crypto Bill and Tax Fight Come to a Head
Bitcoin Magazine Bank of Korea Wants Stablecoins Written Into Forex Law as Crypto Bill and Tax Fight Come to a Head The Bank of Ko...
HSBC Brings Hong Kong Dollar Stablecoin To PayMe As Retail Rollout Begins
TL;DR: HSBC has launched its Hong Kong dollar-backed RedCoin for payments through PayMe, with wallet activation set to expand to m...
Chainlink Expands LG Tech Arm Tie-Up Into Formal Partnership on Korean Stablecoins
Chainlink and LG CNS, the technology arm of South Korea’s LG Group, announced a strategic partnership on Oct. 22, widening a relat...
SEC clears listing of Volatility Shares’ 3x Bitcoin and Ether ETFs
The SEC's approval of 3x crypto ETFs could increase market volatility and attract speculative trading, impacting broader financial...