{"id":5793,"date":"2022-05-23T08:37:46","date_gmt":"2022-05-23T06:37:46","guid":{"rendered":"https:\/\/costops.com\/index.php\/2022\/05\/23\/tether-pays-out-10bn-in-withdrawals-since-start-of-crypto-crash\/"},"modified":"2022-05-23T08:37:46","modified_gmt":"2022-05-23T06:37:46","slug":"tether-pays-out-10bn-in-withdrawals-since-start-of-crypto-crash","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2022\/05\/23\/tether-pays-out-10bn-in-withdrawals-since-start-of-crypto-crash\/","title":{"rendered":"Tether pays out $10bn in withdrawals since start of crypto crash"},"content":{"rendered":"<p>Pace of withdrawals in May means \u2018stablecoin\u2019 company effectively dealing with slow-motion bank run<\/p>\n<p>Tether, the multibillion dollar \u201cstablecoin\u201d that functions as the largest bank in the cryptocurrency economy, has paid out $10bn (\u00a38bn) in withdrawals since the crypto crash started in early May.<\/p>\n<p>The pace of withdrawals means the company is effectively dealing with a slow-motion bank run, as depositors seek to move their cash to more heavily regulated stablecoins.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/technology\/2022\/may\/22\/tether-pays-out-10bn-in-withdrawal-since-crypto-crash\">Continue reading&#8230;<\/a><br \/>\n<img src=\"https:\/\/i.guim.co.uk\/img\/media\/17c7bd8286e565a659cdac4a62f5fe2f68afc1bf\/0_233_3500_2101\/master\/3500.jpg?width=140&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=d6fb432e0350830513147d9ebd5422c5\" title=\"Tether pays out $10bn in withdrawals since start of crypto crash\" \/>Pace of withdrawals in May means \u2018stablecoin\u2019 company effectively dealing with slow-motion bank run<br \/>\nTether, the multibillion dollar \u201cstablecoin\u201d that functions as the largest bank in the cryptocurrency economy, has paid out $10bn (\u00a38bn) in withdrawals since the crypto crash started in early May.<br \/>\nThe pace of withdrawals means the company is effectively dealing with a slow-motion bank run, as depositors seek to move their cash to more heavily regulated stablecoins. Continue reading&#8230;Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pace of withdrawals in May means \u2018stablecoin\u2019 company effectively dealing with slow-motion bank run Tether, the multibillion dollar \u201cstablecoin\u201d that functions as the largest bank in the cryptocurrency economy, has paid out $10bn (\u00a38bn) in withdrawals since the crypto crash started in early May. The pace of withdrawals means the company is effectively dealing with &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"http:\/\/costops.com\/index.php\/2022\/05\/23\/tether-pays-out-10bn-in-withdrawals-since-start-of-crypto-crash\/\"> <span class=\"screen-reader-text\">Tether pays out $10bn in withdrawals since start of crypto crash<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":0,"featured_media":5794,"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\/5793"}],"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=5793"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/5793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/5794"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=5793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=5793"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=5793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}