3 key crypto price events to watch in the wake of the FTX and Alameda debacle.
. It’s happened a number of times in the past, and usually, once the smoke clears it regains the 1:1 peg.
What’s important to note here is that panic can easily be triggered by false information, rumors and lies, so it doesn’t matter if the rumors about Alameda/Tether are completely false. Similar behavior was seen during the Terra and Celsius implosion. On May 12, USDC’s price spiked from $1.00 to $1.06–$1.19, according to data from TradingView and KuCoin. On the same day, USDT’s value briefly dropped to $0.98 and $0.94.When the price is dislocated and there are spreads across exchanges, making stablecoin conversions becomes costly and the experience of swapping from one to the other or from an altcoin to stablecoin can become unpleasant.The Nov.
A lot of crypto-focused companies and investment groups have exposure to FTX and Alameda research, which also means these same companies now have some holes in their own balance sheets.-Galaxy Digital - $77 million exposure-Multicoin Capital – 10% fundsA handful of these crypto-native companies also hold significant-sized bags of assorted altcoins and decentralized finance tokens.
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