Regulatory Rollercoaster: SNX Takes a Nosedive While SkyAI Soars
Key Points
- Synthetix's stablecoin sUSD has plummeted from its dollar pe...
Looks like someone forgot to tell Synthetix that playing with stablecoins is about as stable as trying to juggle water balloons in a hurricane. The crypto world's latest episode of 'How Not to Keep Your Dollar Peg' features our unfortunate protagonist, SNX.
Stablecoin? More Like Stumblecoin
South Korean crypto exchanges Upbit and Bithumb have pulled the emergency brake on Synthetix (SNX) token deposits, following wisdom from the Digital Asset Exchange Alliance (DAXA). The reason? Their stablecoin sUSD decided to take an unscheduled vacation from its dollar peg, plummeting to $0.68 this Apr...
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