Factbox - Silvergate Crisis: Crypto Industry Majors Drop Embattled Lender

A slew of cryptocurrency heavyweights including Coinbase Global Inc and Galaxy Digital ditched Silvergate Capital Corp as their banking partner after the lender’s latest filing raised questions about its ability to stay in business. La Jolla, California-based Silvergate, one of the most influential banks in the digital asset industry, has been reeling from the fallout […]

Stablecoin Tether Hires BDO Italia for Monthly Proof-of-reserve Reports

Tether, the world’s largest stablecoin, said on Thursday it had appointed accounting firm BDO Italia to vouch for its monthly proof-of-reserve for its assets, and would look to increase the frequency of publishing its reserves reports to monthly from quarterly. Stablecoins are a type of cryptocurrency designed to keep constant value, such as a 1:1 […]

Crypto Giant Tether to Launch Sterling-Pegged Stablecoin

Major crypto firm Tether said on Wednesday it will launch next month a “stablecoin” pegged to the British pound, a move that comes as London draws up plans to regulate the fast-growing type of digital currency. Stablecoins are cryptocurrencies designed to keep a steady value against traditional currencies or commodities such as gold. They seek […]

Can USDT and UST have the Same Fate?

Following the Terra Luna (UST) crash that shook the crypto market to its core, many investors were rightly afraid that their other crypto assets would follow suit. This fear is partly what led to the crypto market having its worst crash since 2020. That fear is multiplied tenfold when talking about USDT (Tether). One major […]

Crypto Collapse Intensifies as Stablecoin Tether Slides Below Dollar Peg

The meltdown in TerraUSD, one of the world’s largest stablecoins, rippled through cryptocurrency markets on Thursday, pushing another major stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off in risk assets, which has picked up steam this week as data showed U.S. inflation running […]