Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, fiat-pegged stablecoins took a hit as DeFi platform Abracadabra took emergency action after its Magic Internet Money depegged 50%, adding to a wave of stablecoins to lose their peg this week, while US President Donald Trump postponed signing a housing bill that includes a ban on central bank digital currencies (CBDCs). Meanwhile, Binance reaffirmed its commitment to Europe after its bid for a crypto license in Greece was rejected.

Abracadabra takes emergency action as MIM stablecoin depeg worsens

Decentralized finance platform Abracadabra said Wednesday that it launched emergency measures after its crypto-collateralized stablecoin, Magic Internet Money (MIM), fell 50% below its $1 peg.

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