Decentralized finance platform Synthetix has axed its $27 million plan to acquire crypto options platform Derive after negative community feedback.A Synthetix spokesperson told Cointelegraph on May 22 that its acquisition proposal,...
Decentralized finance platform Synthetix is planning to venture further into crypto derivatives with plans to re-acquire the crypto options platform Derive.Synthetix said in a May 14 blog post that it plans to acquire Derive in a...
sUSD depeg, explained: Why Synthetix’s stablecoin fell below $0.70 In a significant and concerning event in the cryptocurrency space, sUSD, the native stablecoin of...
South Korean exchanges Upbit and Bithumb have suspended deposits for Synthetix (SNX) tokens after it was flagged by the Digital Asset Exchange Alliance (DAXA) for potential risks.DAXA, the self-regulatory organization establishing...
Synthetix’s sUSD depeg highlights persistent issues in algorithmic stablecoins, but experts argue there's still potential with smarter design.
The post sUSD Depeg Rekindles Terra Flashbacks—Can Algorithmic Stablecoins Ever Win Trust? appeared first...
Coinspeaker
SNX Price Soars 7% as Synthetix Founder Talks Tough on sUSD Depeg Fix
Synthetix (SNX) price shot up 7% in the past 24 hours as founder Kain Warwick took a firm stance on the recent depegging of sUSD stablecoin.
SNX Price Soars 7% as...
Synthetix founder Kain Warwick has threatened SNX stakers with “the stick” if they don’t take up a newly launched staking mechanism to help fix the protocol’s ongoing sUSD (SUSD) depeg.Warwick said in an April 21 post to X that it...
The Synthetix protocol’s native stablecoin, Synthetix USD (SUSD), has slipped further away from its US dollar peg, reaching new all-time lows under $0.70. However, the firm reiterates that this isn’t the first time the asset has...
The decentralized stablecoin $sUSD, issued by Synthetix, is experiencing a rapidly growing depegging crisis. After a concerning drop, the token is now at $0.8030, a full 5% down in the last 24 hours. This steady slide has resulted in us saying that...
Over the past few weeks, investors have watched as sUSD, an EOS-based synthetic asset, plummeted to $0.77, a significant drop from its usual $1 peg. This sharp decline has been attributed to recent changes in the Synthetix protocol, changes that...
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