stablecoin

Tether Being Shorted by Hedge Funds, CEO Speaks Up

Paolo Ardoino said hedge funds are shorting USDT with the hopes of recreating TerraUSD’s demise. He asserts USDT is 100% backed by the company’s US dollar reserves. Leading US dollar-based stablecoins are still changing hands at $1 per piece. It appears the stablecoin crucible has still not ended with TerraUSD (UST), as Tether CEO Paolo Ardoino revealed that Tether USD (USDT) is now the next target of hedge funds. In the thread, Ardoino mentioned USDT/USD perpetual futures as one of the “tool” for the attack. Other strategies include short-selling of the borrowed USDT in the spot market, as well as

2 mins read
USDC-Issuer-Circle-to-Launch-Euro-Backed-Stablecoin-EUROC
USDC Issuer Circle to Launch Euro-Backed Stablecoin EUROC

Issuer of USDC, Circle, will launch a new stablecoin called Euro Coin (EUROC) EUROC will be officially launched on June 30th. Developers can now start integrating Euro coin’s smart contract today. Circle, the financial tech firm behind USDC, will be launching a new stablecoin called Euro Coin (EUROC). The new stablecoin was designed with a full-reverse model same as USDC to ensure the coin is redeemable 1:1 for euros. Even though traders have lost their trust to stablecoins due to the recent depegging of UST, the fintech still decided to launch the additional stablecoin backed by euro reserves. A euro-denominated

2 mins read