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Gemini Burns Around One-Fifth Of Its Stablecoin Supply

Janelle Fox

Summary: Gemini, the cryptocurrency exchange, has burnt around one-fifth of its Gemini Dollar (GUSD) stablecoin supply. Whale Alert, the twitter account that tracks large scale cryptocurrency transactions, discovered on Dec. 3, that 1,035,020 GUSD had been burnt in one operation. This accounts for roughly 20% of the total GUSD that were circulating at the time. The ...

Gemini, the cryptocurrency exchange, has burnt around one-fifth of its Gemini Dollar (GUSD) stablecoin supply.

Whale Alert, the twitter account that tracks large scale cryptocurrency transactions, discovered on Dec. 3, that 1,035,020 GUSD had been burnt in one operation. This accounts for roughly 20% of the total GUSD that were circulating at the time. The burn has brought the GUSD supply down to about 4.1 million.

By Janelle Fox

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