Yesterday’s decision by California’s banking regulator to shut Silicon Valley bank after a $42bn run by depositors, the second-largest bank failure in US history, threatens far-reaching consequences. One of its […]
It’s been a torrid year for investors in cryptocurrency but the worst is not over, says Carol Alexander, my guest on the latest New Money Review podcast. In 2023 the […]
The cryptocurrency crash triggered by this week’s failure of the FTX exchange has now reached the largest dollar token, Tether. As at 12.10 GMT on 10 November, Tether had lost […]
The cryptocurrency market turmoil unleashed by the collapse of lending platform Celsius Network is putting dollar stablecoins under renewed pressure. Earlier today Celsius announced that it was pausing all withdrawals, […]
Cryptocurrency prices plummeted Monday after Celsius Network, a leading token lending platform, said it was suspending all withdrawals. In a memo published on the Celsius Network blog, the platform said […]
Cryptocurrency lender and deposit-taker Celsius Network is under increasing pressure after this month’s rout in stablecoins. As at 06.00 GMT on 27 May, Celsius’s native token $CEL was trading at […]
The language used by Tether’s accountant in the latest quarterly attestation report suggests it’s worried about the future existence of the stablecoin. Tether has since undergone a sharp contraction since […]
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 […]
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 […]
The booming decentralised finance (‘DeFi’) market suffers from an existential problem, says the Bank for International Settlements (BIS): it isn’t decentralised. Meanwhile, the contagion risks from DeFi to the rest […]