Stablecoins have been leaving exchanges in large numbers over the past month. Since November 4, stablecoin balances have dropped by a net of $4.67 billion. This represents an 11.4% decrease in exchange stablecoin balances.
During the same time period, net Ether outflows from exchanges added up to $5.125 billion, which is 13.1% of the total Ether held on centralized exchanges (CEXs). In total, $9.8 billion in stablecoins and Ether have been…
In a recent blog post on the Coinbase website, the company said that it is going to fight Tether, a controversial stablecoin that has been linked to scandals and problems for a long time.
Tether has been under scrutiny for years due to its questionable relationship with the Bitfinex exchange and its lack of transparency regarding its backing. This has led to concerns about whether Tether is actually backed by the US dollar, as it claims to…
People want to use blockchain technology, XR, IoT, AI, and machine learning because they are changing the way we live and Web3 is becoming more and more popular. However, it is not easy to understand various terminologies and adopt the new technology. To offer opportunities for the public to learn about different terms, Web3Shot is in place with the aim of building a learning platform for massive web3 adoption and providing interesting learn-…
Is the worst nearly over?
In this still-emerging business, volatility has always been a constant. Cryptocurrency is infamous for its steep declines and spectacular recoveries. Long-time Bitcoin supporters can confirm that this is not the first crypto winter.
May cryptocurrency prices and stocks recover in 2023?
Hany Rashwan, CEO of 21.co, a cryptocurrency investment business, said, “It is very evident that we as an industry nee…
Two weeks ago, BlockFi banned withdrawals owing to “lack of clarification over the fate of FTX.com, FTX US, and Alameda.”
As previously mentioned by the BlockFi team, the move would be directly spurred by the demise of FTX, the business that initially offered a $400 million credit line to fund the crypto-lending startup. This is in addition to the exchange formed by Sam Bankman-option Fried’s to acquire for an additional $280 million USD. …
