Market makers’ blockchain transactions point to a potential $3 million arbitrage opportunity related to the depegging of the FDUSD stablecoin.
The First Digital US dollar-pegged stablecoin (FDUSD) depegged on April 2, after Tron founder Justin Sun claimed that the stablecoin issuer was insolvent.
Market marker Wintermute transferred over 75 million FDUSD tokens back to First Digital within a day since the stablecoin depegged to $0.87.
United States-based Bitcoin mining company TeraWulf nearly doubled its third-quarter revenue this year thanks to price growth in Bitcoin, as well as an expansion in mining capacity and new income from its AI business. Revenue for the third quarter increased 87% year-over-year to $50.6 million, with “digital asset revenue” making up $43.4 million, according to TeraWulf’s Q3 earnings report on Monday. In Q1, the company had reported a net loss, and in Q2, the miner’s revenue increased 34% year-over-year to $47.6 million. “These increases were… Source link
