Gemini-backed stablecoin Gemini Greenback(GUSD) has misplaced its parity with the US Greenback, falling by 0.84% to $0.9851 within the final 24 hours, in line with CryptoSlate’s knowledge.
Out there knowledge reveals that the stablecoin skilled sharp worth swings over the previous week, harking back to its run in the direction of the top of final 12 months.
The variety of energetic addresses holding GUSD has dropped to a 2020 low, in line with CryptoSlate analysis. GUSD’s provide has additionally fallen to round $607 million from a excessive of practically $880 million inside three months.
OKX delists GUSD
Crypto trade OKX mentioned it might be delisting the stablecoin on Feb. 1 by 8:00 am UTC, in line with Jan. 31 assertion.
The trade mentioned it was delisting the stablecoin primarily based on customers’ suggestions and its delisting coverage. OKX added that it “always displays the efficiency of all listed initiatives and evaluations their itemizing {qualifications} regularly.”
Gemini troubles
In the meantime, the stablecoin issuer is dealing with elevated scrutiny after the New York Division of Monetary Companies (NYDFS) revealed it was investigating the trade over its claims associated to Federal Deposit Insurance coverage Company (FDIC) protection.
Some Gemini customers mentioned they had been misled into believing that the trade’s Earn product was additionally lined by FDIC insurance coverage.
In addition to, the trade has been engaged in a public spat with the bankrupt crypto lender Genesis over its Earn product.
