Crypto
- Thread starter huskers1217
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You buy it. I'm buying Bitcoin!
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"today"
The last thing you want to do is zoom out. Or are you even capable of that, Dole?
For the first time since in two years, my crypto is in the red. Thinking about doubling up and buying a few more BitCoins while the gettin' is good.
Fat Stacks yo
Fat Stacks yo
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Billionaire founder of crypto exchange Binance says he's 'poor again' after its luna holdings — once worth $1.6 billion — crashed and are now worth just $2,200
It's likely that Changpeng Zhao meant it as a joke as he remains a billionaire, but luna's meltdown has stung investors worldwide.
?
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Why Argentina? Oh, maybe it has to do with their 45% inflation.
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Bitcoin is an IQ test.
I have just received @Dole ver 2.0 IQ test results.
Unfortunately, he failed.
I have just received @Dole ver 2.0 IQ test results.
Unfortunately, he failed.
Just wait IF any new Costco hot dog prices were to "kick in"...Bitcoin is an IQ test.
I have just received @Dole ver 2.0 IQ test results.
Unfortunately, he failed.
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My cup of coffee is down 100%. Think I will get another one.
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“Show me prospectuseseseses!!!” - Dole
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After TerraUSD’s spectacular collapse, another stablecoin has lost its peg
Last week’s collapse of cryptocurrency UST spelled trouble for the entire category of stablecoins. Now another one, DEI, has lost its peg to the U.S. dollar.
The stablecoin, created by crypto derivatives trading platform Deus Finance, first lost its peg on Sunday and hasn’t been able to regain it since. On Wednesday the cryptocurrency was trading at about 60 cents, according to CoinMarketCap, well below its theoretical $1 peg.
DEI is in a category of cryptocurrencies called stablecoins that are usually tied to a non-crypto asset like fiat currencies such as the U.S. dollar. The most popular stablecoins, Tether (USDT) and USD Coin (USDC), are used by investors to convert their dollars into crypto, buy other types of cryptocurrency, or to serve as a safe haven asset that crypto investors can use to avoid fluctuations in other tokens.
DEI is backed by cryptocurrencies. Twenty percent of its reserves are in Deus Finance’s native cryptocurrency while the remaining 80% is a combination of other stablecoins.
To regain DEI’s peg to the U.S. dollar, the Deus Finance team is selling their own quasi-treasury bonds that they hope will incentivize people to add to the stablecoin’s liquidity. In a blog post, a member of the Deus Finance DAO said the stablecoin didn’t have enough USDC to back it because of a hacking in March in which $3 million of crypto was stolen.
DEI is the latest stablecoin to lose its peg after what analysts have called a “death spiral” selloff pushed the price of Terraform Labs’ UST stablecoin down to 13 cents last week from its dollar peg. Meanwhile, Luna, the cryptocurrency that helped UST regulate its price, lost nearly 100% of its value in less than a day, leaving investors with huge losses.
"Stable"
Last week’s collapse of cryptocurrency UST spelled trouble for the entire category of stablecoins. Now another one, DEI, has lost its peg to the U.S. dollar.
The stablecoin, created by crypto derivatives trading platform Deus Finance, first lost its peg on Sunday and hasn’t been able to regain it since. On Wednesday the cryptocurrency was trading at about 60 cents, according to CoinMarketCap, well below its theoretical $1 peg.
DEI is in a category of cryptocurrencies called stablecoins that are usually tied to a non-crypto asset like fiat currencies such as the U.S. dollar. The most popular stablecoins, Tether (USDT) and USD Coin (USDC), are used by investors to convert their dollars into crypto, buy other types of cryptocurrency, or to serve as a safe haven asset that crypto investors can use to avoid fluctuations in other tokens.
DEI is backed by cryptocurrencies. Twenty percent of its reserves are in Deus Finance’s native cryptocurrency while the remaining 80% is a combination of other stablecoins.
To regain DEI’s peg to the U.S. dollar, the Deus Finance team is selling their own quasi-treasury bonds that they hope will incentivize people to add to the stablecoin’s liquidity. In a blog post, a member of the Deus Finance DAO said the stablecoin didn’t have enough USDC to back it because of a hacking in March in which $3 million of crypto was stolen.
DEI is the latest stablecoin to lose its peg after what analysts have called a “death spiral” selloff pushed the price of Terraform Labs’ UST stablecoin down to 13 cents last week from its dollar peg. Meanwhile, Luna, the cryptocurrency that helped UST regulate its price, lost nearly 100% of its value in less than a day, leaving investors with huge losses.
"Stable"
THAT'S The Spirit!!!
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