Sasha Ivanov, the founder of the Waves ( WAVES-USD ) blockchain, has requested centralized exchanges Wednesday to disable futures markets linked to the protocol's native cryptocurrency WAVES. Taking to Twitter, Ivanov pointed out that "Waves does not need waves futures markets. They are a breeding ground for FUD and making money off short positions, profitable because of it. I kindly ask all centralized exchanges to disable Waves futures markets." He specifically called on Binance, KuCoin, Kraken, Huobi Global, OKX and Bybit to delist derivative trading for WAVES. Ivanov's remarks come as WAVES dropped around 30% in the past month alone, trading at $1.50 as of shortly before 4:00 p.m. ET, amid concerns over the price volatility of Neutrino USD (USDN-USD), a WAVES-backed algorithmic stablecoin that's designed to be pegged one-to-one with the U.S. dollar. The coin, though, has increasingly de-pegged from the dollar over the past month, changing hands at just $0.51 at the time of writing, according to CoinMarketCap data . This isn't the first time an algorithmic stablecoin lost its parity with the greenback. Recall in May when TerraUSD ( UST-USD ), the third largest stablecoin by market cap at the time, dropped under $1 after crypto whales dumped large stakes. Earlier this week, (Dec. 20) Ivanov tweeted he will launch a new stablecoin while hinting a "resolution plan" to sustain USDN .
