USDC’s Depeg Laid Naked the Dangers Conventional Finance Poses to Stablecoins

by Jeremy

Different, smaller-circulation stablecoins misplaced their pegs, too, together with BUSD, issued by Paxos, and crypto-backed stablecoin DAI, issued by MakerDAO. Solely USDT appeared to profit from the turmoil, briefly exceeding $1, almost definitely due to traders shifting out of the depegged stablecoins.

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