NYDIG is calling time on what it says is one of crypto’s most persistent myths: that stablecoins are pegged to the U.S. dollar.
In a post-mortem on last week’s $500 billion crypto market sell-off, the bitcoin-focused financial services firm’s Global Head of Research Greg Cipolaro pointed to the instability of supposedly stable assets like USDC, USDT and Ethena’s USDe, which dropped as low as $0.65 on Binance.
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