1 year ago
Gemini-backed stablecoin Gemini Dollar(GUSD) has mislaid its parity with the US Dollar, falling by 0.84% to $0.9851 successful the past 24 hours, according to CryptoSlate’s data.
Available information shows that the stablecoin experienced crisp terms swings implicit the past week, reminiscent of its tally towards the extremity of past year.
The fig of progressive addresses holding GUSD has dropped to a 2020 low, according to CryptoSlate research. GUSD’s proviso has besides fallen to astir $607 cardinal from a precocious of astir $880 cardinal wrong 3 months.
OKX delists GUSD
Crypto speech OKX said it would beryllium delisting the stablecoin connected Feb. 1 by 8:00 americium UTC, according to Jan. 31 statement.
The speech said it was delisting the stablecoin based connected users’ feedback and its delisting policy. OKX added that it “constantly monitors the show of each listed projects and reviews their listing qualifications connected a regular basis.”
Gemini troubles
Meanwhile, the stablecoin issuer is facing accrued scrutiny aft the New York Department of Financial Services (NYDFS) revealed it was investigating the speech implicit its claims related to Federal Deposit Insurance Corporation (FDIC) coverage.
Some Gemini users said they were misled into believing that the exchange’s Earn merchandise was besides covered by FDIC insurance.
Besides, the speech has been engaged successful a nationalist spat with the bankrupt crypto lender Genesis implicit its Earn product.
The station Gemini’s stablecoin loses USD peg amid OKX delisting appeared archetypal connected CryptoSlate.
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