Cryptocurrencies stabilise, bitcoin rallies after stablecoin coll

Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin. Crypto assets have been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. But broader financial markets have so far seen…

Crypto collapse intensifies as stablecoin Tether slides below dol

By Elizabeth Howcroft, Gertrude Chavez-Dreyfuss and Hannah Lang LONDON/NEW YORK (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, rippled through cryptocurrency markets on Thursday, pushing another major stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off in risk assets, which…

Coinbase admits RBI’s use of informal pressure prompted hal

The tussle between India’s apex financial institution Reserve Bank of India and the crypto industry is finally out. Brian Armstrong, co-founder and chief executive of Nasdaq-listed Coinbase said the company disabled UPI payment from its platform due to informal pressure from RBI. Armstrong also stated that the RBI and government have been applying soft pressure…