This week in DeFi was dominated by a stablecoin depeg scare in Curve’s popular 3pool, where USDT value dropped by 0.3%, while Uniswap launched v4. All this and more in our Finance Redefined newsletter!
insights — a newsletter crafted to bring you the most significant developments from the past week.
In other news, a crypto trading bot programmed to execute arbitrage trades borrowed $200 million to make just over $3 in profit. DeFi lending platform Sturdy Finance was drained for $800,000. The protocol’s team offered a $100,000 bounty for returning the funds and reopened its stablecoin market on June 16. In another exploit, the Hashflow protocol was drained for $600,000; however, Hashflow assured users they would be “made whole.”
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USDT price discrepancy presents arbitrage opportunities for DeFi tradersUSDT slightly de-pegged from its usual 1:1 ratio with the US dollar on the Curve decentralized exchange, presenting a unique arbitrage opportunity.
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Curve pool imbalance triggers USDT depeg concerns, Tether CTO calls it FUDA heavy imbalance in Curve’s 3 pool led to a depeg scare for the Tether-issued USDT as its value fell by 0.3% to $0.997.
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USDT Selling on Curve, Uniswap Spooks Traders Amid Bitcoin DropTether Global CTO paoloarduino said all redemptions will be supported as millions worth of $USDT stablecoins appeared to be selling off on popular Uniswap and Curve pools on Thursday morning. shauryamalwa reports.
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Curve founder returns 1.3 million USDT to Aave to curb liquidation riskA wallet tied to Curve Finance founder Michael Egorov has reduced its on-chain debt, easing some concerns.
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USDT Selling on Curve, Uniswap Spooks Traders Amid Bitcoin DropMillions worth of tether (USDT) stablecoins appeared to be selling off on popular Uniswap and Curve pools Thursday morning, sparking early signs of concern among traders. USDT, which usually trades around $1, lost its peg to the U.S. currency and dropped as low as $0.9968. CoinDesk's Jennifer Sanasie presents 'The Chart of the Day.'
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Enormous $1.25 Billion USDT Swap Will Be Performed by Binance TodayAs $USDT remains under heavy pressure, Binance transfers stablecoin reserves from a less-demanded network to Ethereum blockchain
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