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Stablecoins are cryptocurrencies maintaining stable value, but they can lose their peg if improperly managed.

Measures have been taken to prevent further unauthorized outflows, the exchange said.

The deal includes a warrant for Tether to buy an additional $50 million of shares in the next 12 months.

Cryptocurrency exchange Bybit has confirmed reports that several executives have “changed roles” after a botched notcoin (NOT) launch resulted in $23 million in compensation being sent to 320,000 users.

Bitdeer intends to use the proceeds to fund its data center expansion and ASIC-based mining rig development, the Singapore-based company said.

The latest price moves in bitcoin (BTC) and crypto markets in context for May 31, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Gamblers have placed almost $900,000 in bets on the “Trump in jail before election day?” market on the predictions application Polymarket.

The 50-day simple moving average marks major support at $64,870.

Open interest in ether options is concentrated at $5,000 calls expiring at the end of June, analysts said.

EOS Network Foundation’s CEO said a community proposal to cap the EOS supply at 2.1 billion tokens was approved.