{"id":5735,"date":"2022-05-16T16:36:26","date_gmt":"2022-05-16T14:36:26","guid":{"rendered":"https:\/\/costops.com\/index.php\/2022\/05\/16\/7-6bn-of-stablecoin-tether-redeemed-since-start-of-crypto-crisis\/"},"modified":"2022-05-16T16:36:26","modified_gmt":"2022-05-16T14:36:26","slug":"7-6bn-of-stablecoin-tether-redeemed-since-start-of-crypto-crisis","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2022\/05\/16\/7-6bn-of-stablecoin-tether-redeemed-since-start-of-crypto-crisis\/","title":{"rendered":"$7.6bn of \u2018stablecoin\u2019 tether redeemed since start of crypto crisis"},"content":{"rendered":"

Figures suggest company has paid out more than total cash on hand, as terra backers prepare relaunch<\/p>\n

Digital investors have withdrawn savings in the \u201cstablecoin\u201d tether worth $7.6bn (\u00a36.2bn) since the cryptocurrency crisis began last week, suggesting the company has paid out a sum almost twice its total cash holdings to spooked depositors.<\/p>\n

Stablecoins are supposed to have a fixed value matched to a real-world asset, in most cases $1 a token. However, faith in the concept was rocked last Tuesday when another big player, terra, broke its peg to the dollar<\/a>. That has fuelled a wider sell-off across the crypto sector, which relies on stablecoins for much of its financial engineering.<\/p>\n

Continue reading…<\/a>
\nFigures suggest company has paid out more than total cash on hand, as terra backers prepare relaunch
\nDigital investors have withdrawn savings in the \u201cstablecoin\u201d tether worth $7.6bn (\u00a36.2bn) since the cryptocurrency crisis began last week, suggesting the company has paid out a sum almost twice its total cash holdings to spooked depositors.
\nStablecoins are supposed to have a fixed value matched to a real-world asset, in most cases $1 a token. However, faith in the concept was rocked last Tuesday when another big player, terra, broke its peg to the dollar. That has fuelled a wider sell-off across the crypto sector, which relies on stablecoins for much of its financial engineering. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Figures suggest company has paid out more than total cash on hand, as terra backers prepare relaunch Digital investors have withdrawn savings in the \u201cstablecoin\u201d tether worth $7.6bn (\u00a36.2bn) since the cryptocurrency crisis began last week, suggesting the company has paid out a sum almost twice its total cash holdings to spooked depositors. Stablecoins are …<\/p>\n

$7.6bn of \u2018stablecoin\u2019 tether redeemed since start of crypto crisis<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":5736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/5735"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=5735"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/5735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/5736"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=5735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=5735"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=5735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}