Stablecoins Dumped As Tether Founder Sees End Of Algorithmic Tokens

Stablecoins Dumped As Tether Founder Sees End Of Algorithmic Tokens

Stablecoins were under pressure after the crash of UST algorithmic stablecoin in mid-May. Tether co-founder Reeve Collins on Thursday said the UST collapse could mean the end of most algorithmic stablecoins. However, USDT also temporarily lost its peg to the US dollar, witnessing massive redemptions. The crash of UST brought…
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Source: CoinGape
Posted: 17 minutes ago