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The entire stablecoin market is now worth more than $160 billion.Justin Tallis | AFP via Getty ImagesRegulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra.TerraUSD, an "algorithmic" stablecoin that's meant to be pegged one-to-one with the U.S. dollar, has erased much of its
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Tether has long faced questions over whether it has enough assets to justify its peg to the dollar.Tiffany Hagler | Bloomberg via Getty ImagesTether, the world's largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day.The
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Crypto firm Tether has been reducing the amount of commercial paper in its reserves.Jakub Porzycki | Nurphoto | Getty ImagesTether, the world's largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market.The token sank to as low as 98 cents at around 3:30 a.m. ET,
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Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies.Jaap Arriens | NurPhoto | Getty ImagesBitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project.The price
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Bitcoin, the world's largest cryptocurrency, has fallen over 50% since setting an all-time high of nearly $69,000 in November.Dan Kitwood | Getty ImagesThe two main tokens from embattled crypto project Terra are now in freefall.UST, a so-called stablecoin that's meant to maintain a $1 peg, plunged more than 60%
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Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China.Anthony Kwan | Getty ImagesA multibillion-dollar bet that bitcoin can act as a "reserve currency" for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg.UST
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Binance is the world's largest crypto exchange, handling billions of dollars in trading volumes on a daily basis.STR | NurPhoto via Getty ImagesBitcoin exchange Binance's move to participate in Elon Musk's $44 billion takeover of Twitter could boost digital currency evangelists' hopes for the development of a more "decentralized,"
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Binance CEO Changpeng Zhao gave a keynote at a Paris crypto industry event in April 2022 to debut a new accelerator program for so-called "Web3" start-ups.Benjamin Girette | Bloomberg | Getty ImagesBinance has been granted approval from regulators to operate its cryptocurrency exchange in France.The company is now listed
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Buy now, pay later giant Klarna says it will start reporting data on customers' usage of its products to credit bureaus in the U.K., gearing up for incoming regulations aimed at reining in the sector over fears it is putting young people into debt.Starting June 1, the Swedish fintech
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BODEN, Sweden — Tucked away in snowy Swedish Lapland is a modern-day gold mine. But instead of picks and shovels, it's filled with thousands of computers.These machines, known as mining rigs, are working around the clock to find new units of cryptocurrency — in this case, ethereum, the second-largest
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