USDC’s Depeg Laid Bare the Risks Traditional Finance Poses to Stablecoins

Other, smaller-circulation stablecoins lost their pegs, too, including BUSD, issued by Paxos, and crypto-backed stablecoin DAI, issued by MakerDAO. Only USDT seemed to benefit from the turmoil, briefly exceeding $1, most likely because of investors shifting out of the depegged stablecoins.

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• Source: https://www.coindesk.com/consensus-magazine/2023/04/02/usdcs-depeg-laid-bare-the-risks-traditional-finance-poses-to-stablecoins/?utm_medium=referral&utm_source=rss&utm_campaign=headlines