Summary

• Dash experienced an outage of over 18 hours.
• Coinone executives indicted in paid listing, market manipulation scandal.
• Ledger CEO believes that ‘sharded’ recovery seeds could be disclosed on subpoenaes.

Dash Experiences Outage Lasting Over 18 Hours

South Korean exchange Coinone reported that their execs were indicted in a paid listing and market manipulation scandal. This comes as Dash experienced an outage lasting over 18 hours. Ledger CEO Pierre-Marie Padiou also recently commented on the potential for sharded recovery seeds to be revealed upon receiving a subpoena.

Stablecoin Exchange Balance Drops Below $20B

CryptoSlate Insights reported that the exchange liquidity for stablecoins such as USDT and USDC have dropped to lows not seen since early 2021. The volume of stablecoins held on centralized exchanges has gone below $20 billion, its lowest point since April 2021, according to Glassnode data.

Strike Integrates Tether’s USDT For Payments

Strikingly, Strike integrated Tether’s USDT which is now available for payments. The decline in balance across exchanges can likely be attributed to the increased regulatory risks associated with the crypto industry due to FTX’s collapse and other crypto related firms‘ capitulation.

Reason For Exchange Stablecoin Decline

The heightened regulatory risks are causing a minimal inflow of liquidity into the crypto ecosystem this year despite the bull run. Financial regulators have been increasingly focused on cryptocurrencies due to Terra’s algorithmic stablecoin and its subsequent implosion of multiple crypto-related firms. Many believe these regulations will lead to more secure investments within the space going forward.

Conclusion

In conclusion, Dash experienced an outage lasting over 18 hours while Coinone execs were indicted in a paid listing and market manipulation scandal. Ledger CEO Pierre-Marie Padiou also shared his thoughts on sharded recovery seeds being revealed upon receiving a subpoenaes while Strike integrated Tether’s USDT for payments . Stablecoin exchange balances have gone below $20 billion this year due to increased regulatory scrutiny by financial institutions following Terra’s algorithmic stablecoin collapse, leading many investors feeling more secure about their investments within the space going forward .