USDT
Nickel Surges Above $100K, Investors Piling Up USDT
Nickel is having a parabolic run as presented in this “Chart of the Day.” It has surged 250% in two days and briefly traded above $100,000 due to a reported short squeeze and logistics uncertainty.
Why Tether Freezing Over $1M Worth of USDT Belonging to 1 Address Matters
Stablecoin issuer Tether froze over $1 million worth of USDT belonging to a single address. "The Hash" host Naomi Brockwell uses this news to point out "all these stablecoins are freezable at the protocol level." The hosts dive into trade-off risks between centralized versus algorithmic stablecoins like Terra's UST.
Myanmar’s Shadow Government Reportedly Adopts Tether as Official Currency
Myanmar’s shadow government, the National Unity Government (NUG) made up of ousted leader Aung San Suu Kyi’s supporters, has recognized stablecoin tether (USDT) as its official currency. This comes as Myanmar’s central bank declared all digital currencies illegal. "The Hash" squad discusses the latest development illuminating the adoption of tether as a potential act of defiance.
Circle CEO Jeremy Allaire on Stablecoins
Jeremy Allaire of neo-bank Circle digs into the world of stablecoins as the issuer of the second-largest stablecoin by market cap USDC. He joins "First Mover" live from the 2021 SALT Conference in New York to share his insights into USDC's backings, growth of stablecoins, tether (USDT)'s reserve breakdown, and his reactions to Coinbase receiving a SEC Wells notice over its lending product. Plus, insights into Circle's future plans as it prepares to go public.
Messari CEO Ryan Selkis on Bitcoin, Stablecoins and Crypto Regulation
Bitcoin is down about 1.3% over the past 24 hours. The next support is seen at the $42,000 breakout level, which could stabilize the pullback. Messari Founder and CEO Ryan Selkis discusses his positive analysis and outlook for bitcoin, explaining why he’s a “perma-bull.”
Huobi-Branded HUSD Reveals Breakdown of Reserves: All Held in Cash
The reserves backing Huobi’s HUSD, the eighth-largest stablecoin by market cap, are revealed to be all held in cash in money market accounts in the U.S. This comes as stablecoin issuers have followed each other in increasing transparency.
Breaking Down the Market Reaction to Gensler’s Crypto Remarks
Sam Trabucco, co-CEO of quantitative trading firm Alameda Research, breaks down the crypto market activity following SEC Chair Gary Gensler’s remarks at the Aspen Security Forum. Plus, his take on what people are getting wrong about stablecoin tether (USDT).
What Drove This Week’s Bitcoin Rebound?
Bitcoin’s price is up about 23% over the past week and is on course for its 10-day winning streak, the longest since October 2015. CoinDesk’s Brad Keoun and George Kaloudis review the recent events that could have brought BTC to this point.
Market Cap of USDC Growing Faster Than Tether
Half of the trades in and out of bitcoin are done with Tether, the dominant stablecoin and third-largest cryptocurrency with a $64 billion market cap. Yet, Coin Metrics reveals the market cap of stablecoin USDC is growing faster than that of USDT. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
