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The crash of Terra’s UST, the third-largest stablecoin at the time, triggered a wave of panic selling that briefly broke Tether’s peg, dropping its value to 92 cents on some exchanges.
This trend can be seen across the cryptocurrency market, with the value of Ethereum (EHM) dropping by 20.52% in 24 hours to 1,215.44 dollars, and Tether (USDT) crashing by 0.03% to just under a ...
In January 2015, the cryptocurrency exchange Bitfinex enabled trading of Tether on their platform. In 2018, Phil Potter, the chief strategy officer for Bitfinex, left the company after the Paradise Papers leaks in November 2017 named Bitfinex officials Philip Potter and Giancarlo Devasini as responsible for setting up Tether Holdings Limited in the British Virgin Islands in 2014.
The world's largest cryptocurrency slipped below $25,000 for the first time in three months. Bitcoin and tether sag as crypto markets face mounting pressures [Video] Skip to main content
FTT, FTX's main crypto coin, crashes and loses 80% of its value as the result of a run on the exchange. [76] 10 November BlockFi halts withdrawals due to the turmoil from FTX. [77] The largest stablecoin, Tether, loses its peg to the US dollar. [78] 11 November FTX declares bankruptcy. [79] 16 November Both Genesis Global Trading and Gemini ...
As an additional indicator of crypto pessimism, spot Bitcoin exchange-traded funds—a group of financial assets that track the price of Bitcoin—have seen record outflows, bleeding $680 million ...
Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc, and is registered in the British Virgin Islands. [1] [2] Bitfinex was founded in 2012. It was originally a peer-to-peer Bitcoin exchange, and later added support for other cryptocurrencies. Bitfinex was one of the first professional platforms built for cryptocurrency trading.
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