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Tether sold a BTC debt to Celsius "without loss." Excess money were refunded to Celsius as Tether sought to "minimize" the impact on the market.
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Collins stated that the loss of money within the Terra ecosystem was regrettable but not unexpected.
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Tether has lost more than $10 billion in value in the last two weeks due to increased regulatory scrutiny on stablecoins.
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Tether’s circulating supply has slipped from about $83 billion a week ago to less than $76 billion on Tuesday, according to data from CoinGecko.
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The true trading volume of Tether (USDT) increased somewhat in March, but has fallen by more than $500 billion since 2021.
Tether sold a BTC debt to Celsius "without loss." Excess money were refunded to Celsius as Tether sought to "minimize" the impact on the market.
