June 27 (Cointime) -Stablecoin TUSD is under pressure as Prime Trust suspends deposits and withdrawals. Traders started shorting TUSD with an increasing number of shorts. The price of TUSD also fell to a low of $0.9983. In addition, the SEC’s regulatory pressure on stablecoins is also increasing. TrueUSD stopped minting TUSD through the exchange and said it was waiting for further notice. While TrueUSD states that TUSD is 100% reserve, the discrepancy in funding raises concerns. Parsec data shows that $17.6 million in TUSD was lent on AAVE, with a total market cap of $3.1 billion.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
Traders Start Shorting TUSD as Crypto Custody Firm Prime Trust Suspends Deposits and Withdrawals, Price Drops to $0.9983
-
Wechat scan to share
Recommended for you
-
Vitalik: In my opinion, all rollups will be ZK in 10 years
Vitalik Buterin, co-founder of Ethereum, stated on social media that in my opinion, all rollups will be ZK in 10 years, and will submit blocks with final state roots to each slot of L1. To achieve this goal, a lot of infrastructure and validator optimization is needed, but this is clearly the ultimate goal. -
Chairman of the Hong Kong Institute of International Finance: Using Hong Kong's digital financial infrastructure to explore the RMB-pegged "Greater Bay Area Stablecoin"
Professor Xiao Geng, Chairman of the Hong Kong International Finance Association, Professor of the Advanced Finance Research Institute of the Chinese University of Hong Kong (Shenzhen), and Director of the Policy and Practice Research Institute, stated that Hong Kong has always been a testing ground for cutting-edge financial innovation, with a good tradition of innovation, a good system for implementing experiments, and a good market foundation. Creating a stablecoin linked to the renminbi based on stablecoins, limited memory blockchains, and digital smart contracts can consolidate and enhance Hong Kong's status as an international financial center. -
Fed's Mester: Expectation of three rate cuts this year is no longer appropriate
Cleveland Fed President Mester said on Monday that she believes the Fed's monetary policy is restrictive and that inflation will fall back towards the Fed's 2% target, but not quickly. Mester previously believed that the Fed could cut interest rates three times this year, but "based on the economic developments I currently see, I think this is no longer appropriate," she said. "Given the stagnation of first-quarter inflation progress and the rising inflation risk, frankly, the actual situation is stronger than I expected." -
If SEC approves spot Ether ETFs, many ‘will be caught severely offside’
Coinbase institutional research analyst David Han believes “there is room for surprise to the upside on this decision.”
-
Cointime's Evening Highlights for May 24th
1. CryptoPunks Launches “Super Punk World” Digital Avatar Series -
Pudgy Penguins and Lotte strategically cooperate to expand into the Korean market, and the floor price rose by 3.1% on the 7th
The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%. -
CryptoPunks Launches “Super Punk World” Digital Avatar Series
Blue-chip NFT project CryptoPunks announced the launch of "Super Punk World" on X platform, which is the project's first release of 500 digital avatars inspired by the iconic CryptoPunks features and combined with Super Cool World attributes. It is reported that the series may launch auctions in the future, and more details about the collection and auction of this series will be announced soon. -
Drift Foundation: The governance mechanism is gradually being improved, and DRIFT is one of the components
The Drift Foundation stated on the X platform that the DRIFT token is a component of governance and a key element in empowering the community to shape the future. The governance mechanism is gradually improving, and more information will be announced soon. -
U.S. senators propose spending $32 billion to develop AI and build safeguards around it
A bipartisan group of four senators led by Chuck Schumer, the leader of the majority party in the United States, has proposed that Congress spend at least $32 billion over the next three years to develop artificial intelligence (AI) and establish safeguards around it. -
CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of decline
On May 16th, cryptocurrency analysis company CryptoQuant stated in a report that despite a rebound in Bitcoin demand from the low point of the accumulation range, after two months of downward trend, Bitcoin demand is once again in "acceleration mode".
Daily Must-Read
-
Will this cycle skip Ethereum?
-
Genesis Global secures court approval for $3B payout
-
JPMorgan’s Onyx to industrialize blockchain PoCs from Project Guardian
-
OKX Ventures invests in Web3 ‘play ARPG to train AI’ game Blade of God X
-
Bitcoin volatility plunges below Tesla, Nvidia stocks amid $100K price prediction
-
What are tokenized commodities?
All Comments