Tether Market Cap Now Sub-$2 Billion as Coinbase Joins Stablecoin Sprint

Tether (USDT), the controversial USD-backed cryptocurrency that has long been the most popular “stablecoin,” continues to shed market share in the wake of its descent below dollar parity. Tether Market Cap Drops to January Low The tether token, which as recently as Oct. 9 had a market cap of $2.8 billion, now has a total …

Tether Has Yanked $610 Million out of Circulation this Month

Tether Limited, issuer of the dollar-pegged cryptocurrency tether (USDT), has yanked nearly a quarter of the controversial stablecoin’s market cap out of circulation since the beginning of October. On Wednesday, cryptocurrency exchange Bitfinex sent another 50 million USDT to the Tether Treasury, marking the sixth time this month that the company — which shares a …

Stablecoins Won’t Fix Bitcoin’s Instability: Berkeley Prof.

Prof. Barry Eichengreen, an economics professor at UC Berkeley, in an op-ed published in The Guardian, said he believes stablecoins such as tether (USDT) might be stable in value and attractive as units of account, but they are flawed. His piece comes on the heels of the launch of the Gemini dollar (GUSD) by the …

MakerDAO CEO Rune Christensen Talks Stablecoins

I recently spoke with MakerDAO CEO Rune Christensen. MakerDAO is the company behind not one, but two, top 2oo-cryptocurrencies by market cap. One of these is Dai, sitting at #107 with a modest market capitalization of $46 million, and the second is Maker (MKR), which currently sits at #29 with a market capitalization of $272 …