There was a flash crash towards the end of the working week that sent the prices of all major cryptocurrencies tumbling down. 

The major sell-off was no doubt linked to news that Chinese property giant Evergrande filed for Chapter 15 bankruptcy protection in a Manhattan court, causing big asset holders to dump riskier investments like stocks and Bitcoin.

A great many tweets were going ’round alleging that Tether had vast exposure to Evergrande, although that is almost certainly misinformation. Tether itself denied any exposure to the beleaguered developer back in 2021 and the dollar stablecoin issuer completely eliminated commercial paper (unsecured short-term promises of debt repayment by corporations) from its USDT reserves last year. 

In spite of the dubious alleged factoids

Go to Source to See Full Article
Author: Tim Hakki

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details