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Regulators are growing anxious about stablecoins after Terra’s stunning collapse

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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World’s biggest stablecoin regains dollar peg after $3 billion in withdrawals

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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The world’s biggest stablecoin has dropped below its $1 peg

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 tumbles below $27,000 for first time since December 2020 as crypto sell-off intensifies

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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Controversial stablecoin UST — which is meant to be pegged to the dollar — plummets below 40 cents

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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A $3.5 billion bet on bitcoin becoming a ‘reserve currency’ for crypto is being put to the test

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 backing Elon Musk’s Twitter acquisition — here’s why it’s a big deal for crypto enthusiasts

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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France becomes first big European nation to grant crypto giant Binance regulatory approval

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 will soon affect your credit score in the UK

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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Can crypto go green? Major companies are trying — but it’s easier said than done

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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