The Bitcoin and crypto markets are deep in the red today. Even though the US Federal Reserve announced the hoped-for interest rate pause yesterday, the release of the updated dot plot was a nasty surprise for the financial markets. The Fed revealed in its updated dot plot that it sees the average terminal interest rate at 5.6% instead of 5.1% for 2023. As Fed Chairman Jerome Powell explained, almost all FOMC members think further hikes are reasonable. And the resulting price slump in the crypto markets is also having an impact on Tether’s stablecoin, USDT, at the moment. Tether (USDT) De-Pegs Slightly USDT has slightly lost its peg to the US dollar at the time of writing. On Binance, the USDC / USDT exchange rate was at 1.0030. The reason for this seems to be Curve’s 3Pool, which is one of the most important pools for stablecoin trading in decentralized finance. Currently USDT accounts for 73.79% of the Curve 3Pool, DAI for 13.05% and USDC for 13.16%. Apparently, users are rushing to exchange tens of millions of USDT in favor of the ..
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 De-Pegs As Crypto Market Stumbles, More Downside Coming?){kind=link}