Contagion from the stablecoin collapse that started on Monday with Terra is now affecting the largest dollar token, Tether, hitting the broader cryptocurrency markets. At 07.00 UTC on Thursday 12 […]
Attempts to recapitalise the third-largest dollar stablecoin failed dramatically last night, sending Terra (UST) and its sister token Luna into a death spiral. After Terra lost its dollar peg on […]
Terra’s $1 per token market value was supposed to be kept in place by an algorithm. But the stablecoin’s sudden failure has led to a bailout attempt involving the world’s […]
Terra, the third-largest stablecoin by market size, is trading at a discount to its dollar peg after heavy investor selling that threatens broader contagion effects. With a market capitalisation of […]
A group of US legislators wants the US Treasury to introduce a fully anonymous digital dollar, countering plans for the central bank to take the responsibility of digitising the national […]
In 2008, a few obscure three-letter financial products—MBS, ABS, CDOs and SIVs—set off the biggest financial crisis in history. Now, could a new alphabet soup of DAOs, NFTs, Dapps, DMMs […]
According to UK prime minister Boris Johnson, Britain and its Western allies will increase the economic pressure on Russia by examining whether more can be done to prevent President Vladimir […]
A recent surge of interest has seen the assets of gold stablecoins pass $1bn in value. But business and disclosure standards in the sector are uneven and patchy. A stablecoin […]
On 28 February the US, EU and UK froze most of the Russian central bank’s $630bn foreign currency reserves, responding to the country’s invasion of Ukraine. In the words of […]
When applying sanctions to Russia’s central bank this week, the Bank for International Settlements (BIS) made a radical departure from the neutral stance it adopted during the second world war. […]