Stablecoins lost their peg over the past few months, contradicting their concept. As officials are working to monitor the stablecoin market, another asset lost its peg yesterday. HUSD, a stablecoin formerly supported by Huobi Global, fell as low as $0.84. But the cryptocurrency platform recently announced to have resolved its liquidity problem. HUSD’s Liquidity Situation It should be highlighted that the company issuing HUSD is Stable Universal Limited, a startup funded by Huobi. Huobi decided to end the initiative in April. In June 2021, Huobi Trust, a retail trust corporation with a Nevada state charter, took over as the project’s new custodian. However, the company recognized and dealt with the HUSD’s liquidity situation. HUSD Stablecoin Liquidity Issues Resolved The crypto platform released a tweet today proclaiming the resolution of the stablecoin’s liquidity problem. The exchange also advised consumers to exercise caution due to cryptocurrency’s market volatility. Huobi stated, “Given the recent volatility in the cryptocurrency market, we advise our users to pay close attention to and be aware of potential risks.” After #Huobi's active coordination with the issuer of HUSD, the liquidity issues of the stablecoin have been resolved. Huobi has always prioritized the security of users' assets and we thank our loyal users for their support and trust. — Huobi (@HuobiGlobal) August 19, 2022 The community wasn’t surprised by thi...
SEC Hosts First-Ever Crypto Roundtable Today
