Tether freezes FTX USDT, while the dollar Peg wiggles

Tether freezes FTX USDT, while the dollar Peg wiggles

The cryptoma markets are stressed by the continued FTX scandal, which means that the dollar bond of the top stablecoin tether (USDT) on large platforms, including Binance, stake.

and just as USD gained a foot again after it had fallen up to $ 0.9381, Tether moved around 46 million USDs who were held by FTX at the request of the law enforcement authorities.

The move takes place one day after the US stock exchange supervisory authority and the Ministry of Justice have started examine ftx about its liquidity crisis.

The frozen USDT from FTX exists on the tron blockchain, which processes more than half of all existing USt. The move was the first reported by Coindesk.

HALDER Regularly frieres usdt for various reasons and places addresses on black lists, including on request from criminal prosecution authorities for hacks and other illegal activities.

While dealers and other market observers carefully observed Tether's pen, said Justin Sun, the controversial founder of Tron that his team did this supposedly "Working around the deterioration" of the cryptoma market.

As with other stable coins, the binding of Tether is not exactly constant. It shifts - usually very easily - up and down, depending on the liquidity of his markets. If retailers sell their USDT for another asset, for example if the Bitcoin price has dropped sharply, the Tether can temporarily fall under their intended dollar value.

and so part of Sun's alleged plan hung from the so-called tron-dao reserve. He promised to buy USD 1 billion, followed by a further 300 million USDT on the free market. The reason for this is "to protect the entire blockchain industry and the crypto market".

It is unclear whether one of these purchases actually took place, but the USDT has now recaptured its bond with the most important markets. The market dominance of the stable coin, measured by its size compared to the entire digital asset room, has also been shot in the past few days.

meanwhile we grew speculation that Alameda Research can short -circuit usdt via the decentralized financial protocols Aave and Curve.

blockworks has turned to analysis units to confirm whether this is the case, while it was effective against FTX CEO Sam Bankman-Fried this morning denied that he is involved in the short films on Twitter.