RATE Group | Bitcoin Magazine Week in Review: Stablecoins Take the Spotlight
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Bitcoin Magazine Week in Review: Stablecoins Take the Spotlight

20 Oct Bitcoin Magazine Week in Review: Stablecoins Take the Spotlight

Posted at 23:48h in Bitcoin News by

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With the exception of the SEC’s FinHub announcement, it has been a quiet week for regulatory news — something we’ve been getting a lot of recently as U.S. officials clamp down on unscrupulous coin offerings and crypto companies.

Instead, stablecoins crowded headlines this week, as tether — among others — had difficulties retaining its peg, and top exchanges rolled out support for some of the asset class’ regulatory-compliant newcomers.

All the while, developers remind us that, even in bear markets, the tools of innovation continue to work against the buzz of speculation.

Stablecoin News Takes Center Stage

As Tether’s Peg Slips, Bitcoin’s Price Distorted Across Markets

Tether took a dip this week. The market’s leading stablecoin dropped to as low as $0.92 cents for its exchange-averaged price as a market-wide selloff left the coin wanting in demand. By consequence, bitcoin on tether-supported exchanges began trading at somewhat of a premium, an inflated price that…

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