The implications of such movements are varied but one obvious one is the fact that bitcoin can fall lower.

It would be such a classic crypto curve ball if Tether was actually backed. Right when the sky is falling, the stable coin that everyone thinks will crash the market saves the day.

I find it crazy that Tron has decided to use pretty much the same algo stablecoin solution that terra ran!! Will we see USDD have a similar bank run in the future?

>"Stablecoin issuer Circle has added support for Polygon USDC on its payment service for clients like exchanges and institutional trading desks."

[https://m.economictimes.com/markets/cryptocurrency/new-york-ag-raises-red-flag-on-cryptos-industry-highlights-the-need-for-regulations/articleshow/92000710.cms](https://m.economictimes.com/markets/cryptocurrency/new-york-ag-raises-red-flag-on-cryptos-industry-highlights-the-need-for-regulations/articleshow/92000710.cms) >"The local AG was referring to the collapse of Terra's native token LUNA, _...Read More_

>"Bitcoin, Ethereum both rose by at least 5% on Tuesday as the entire crypto market rallied after a brutal few weeks."

"The head of a key US banking regulatory agency says Tether (USDT), a stablecoin designed to be pegged to the US dollar, may not be a safe place for crypto investors to park their capital."

>"The revived luna token is already trading on exchanges. But its price is crashing."

CNBC: Jamie Dimon's JPMorgan says bitcoin's slide has created 'significant upside' for crypto investors. >"The bank estimated that _...Read More_

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>"“Legislation to regulate stablecoins, where used as a means of payment, will be part of the Financial Services and Markets Bill which was announced in the Queen’s Speech,” a spokesman for _...Read More_

CNBC: World's biggest stablecoin regains dollar peg after $3 billion in withdrawals. >"The collapse of another so-called stablecoin _...Read More_