HUSD depeg
Huobi explains what went wrong with HUSD after stablecoin is back on track
After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what had caused the short-term liquidity problem and assured users that it had been resolved. On Thursday, HUSD started to fall from its dollar value, trading at $0.92 at the start of the day and falling as low as $0.82 a few hours later. This alarmed community members, who speculated what mig happen if the stablecoin doesn’t recover its dollar peg. HUSD was once one of the safest stablecoins. Now it’s off its peg. If HUSD doesn’t return to $1, it’d be the first fully-reserved centralized stablecoin to fail. pic.twitter.com/9WmROQR6lD — John Paul Koning (@jp_koning) August 18, 2022 In response to the concerns, the crypto exchange platform immediately announced that they had been in co...
