Tiny Euro-Pegged Stablecoin Surges 200% on Binance Before Exchange Halts Trading Due to ‘Abnormal Volatility’
The AEUR-USDT trading pair hit a $3.25 high Tuesday afternoon before Binance suspended trading with the token.
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The AEUR-USDT trading pair hit a $3.25 high Tuesday afternoon before Binance suspended trading with the token.
Tether’s USDT added $7 billion to its market cap since September, a sign of capital entering the crypto market, Matrixport noted.
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In his first public interview since getting the job last month after founder Changpeng “CZ” Zhao was formed to step down amid a $4.3 billion legal settlement with the U.S. government, Teng said Binance’s compliance systems were inadequate in the past and that mistakes were made. But Teng, who has held senior positions at Binance for several years, refused to give answers about the company’s governance.
The filing lists the Tesla-billionaire-turned-social-media tycoon as a key backer.
The move prompted $73 million in liquidations, during the day predominantly leveraged short positions betting on lower prices.
The total amount of capital locked or staked across all decentralized finance (DeFi) protocols reached $50 billion on Tuesday, the most in six months.
Shares in the cryptocurrency exchange have rallied nearly 300% this year, and the latest chart pattern suggests further gains could still be in the offing.
Altcoins futures took a hit Monday as sudden volatility liquidated both longs and shorts, causing unusually high liquidations on some lesser-known tokens.