{"id":515479,"date":"2023-01-10T02:00:37","date_gmt":"2023-01-10T07:00:37","guid":{"rendered":"https:\/\/wncen.com\/?p=515479"},"modified":"2023-03-08T07:26:31","modified_gmt":"2023-03-08T07:26:31","slug":"stablecoin-usdd-struggles","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/","title":{"rendered":"Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg"},"content":{"rendered":"

A stablecoin<\/span><\/a> is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier. <\/span>USDD, a stablecoin created by the founder of the Tron Blockchain, Justin Sun, <\/span><\/span>has been losing its peg to the U.S. dollar.<\/p>\n

According to Coingecko, <\/span>USDD<\/span><\/a> is currently trading at $0.9805. <\/span>Although USDD was designed to be pegged to the dollar like other stablecoins, its value has fluctuated between $0.9806 and $0.9798 during the past week.<\/p>\n

As this developed, Sun\u2019s crypto exchange, Huobi Global, <\/span>joined the ranks<\/span><\/a> of crypto companies that started this year with job cuts.<\/span><\/p>\n

Adding to the pressure is the fear, uncertainty and doubt surrounding the Huobi exchange itself. Recent <\/span>social media<\/span><\/a> posts regarding the exchange shows that Huobi has higher withdrawals than deposits which strengthened fears of a possible halting of withdrawals.\u00a0<\/span><\/p>\n

\"Justin<\/p>\n

USDD creator, Justin Sun. Image: Cover art\/illustration via CryptoSlate<\/pre>\n
How Does USDD Stablecoin Work?\u00a0\u00a0<\/strong><\/h2>\n
USDD is an <\/span>algorithmic stablecoin<\/span><\/a> which uses complex arithmetic to keep the price pegged to a dollar. According to Tron DAO\u2019s <\/span>blog post<\/span><\/a> about the inner workings of USDD, the stablecoin is not considered de-pegged by the system when it drops lower or goes higher than $1.\u00a0<\/span><\/p>\n
Looking at the charts, the stablecoin is consistently testing its 3% leeway set by the system. Although the system itself does not consider USDD depegged, this consistency is worrying as any further drop might cause more troubles – or eventually led to the fate that befell UST\u00a0 when it <\/span>crashed<\/span><\/a>.<\/span><\/p>\n
With investors <\/span>skeptical<\/span><\/a> of USDD since its inception, Sun has not done anything as of now. This is clearly because of the current situation at Huobi, leaving the reins to the system that\u00a0 govern USDD.\u00a0<\/span><\/p>\n
\n
\ud83d\udfe1 Justin’s $1.1B withdrawal:<\/p>\n
– It was speculated that this was used to fund Huobi’s operations
\n– Likely untrue, the amount is way too large to cover burn rate
\n– Even Twitter running at its most wasteful state only burns at $4mil\/month
\n– Whispers of him cashing out<\/p>\n
4\/ https:\/\/t.co\/DXwtdjRtFP<\/a><\/p>\n
\u2014 Rock \ud83e\udea8 (@DataaRocks) January 6, 2023<\/a><\/p><\/blockquote>\n
Huobi\u2019s Situation And What It Means For USDD<\/strong><\/h2>\n
Sun<\/span><\/a>, who is advisor to Huobi, has been said to be <\/span>withdrawing<\/span><\/a> more than a billion dollars which further strengthened the FUD surrounding the exchange. Speculators, however, believe that the withdrawn funds would be used for the operations of Huobi.\u00a0<\/span><\/p>\n
This might be true, as the exchange might be burning through its liquidity as <\/span>withdrawals<\/span><\/a> continue to mount up due to recent negative developments. Any negative news on Huobi might have an effect on the peg of USDD and USDJ.\u00a0<\/span><\/p>\n
Related Reading: Top 5 Crypto To Watch As CPI Data Is Released This Week<\/a><\/div>\n
<\/p>\n
Crypto total market cap at $807 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: IMX Spikes 10% In Last 24 Hours \u2013 Will It Start The Week Strong?<\/a><\/div>\n
Not to mention that both stablecoins are limited in where they can be bought and sold. According to <\/span>CoinCodex<\/span><\/a>, USDD is tradable on 11 exchanges while USDJ is tradable on three. Both can be traded on Huobi and Poloniex.<\/span><\/p>\n
\n
At @HuobiGlobal<\/a>, we believe that the key to success in the world of cryptocurrency is to “Ignore FUD and Keep Building.”<\/p>\n
\u2014 H.E. Justin Sun\ud83c\udf1e\ud83c\uddec\ud83c\udde9\ud83c\udde9\ud83c\uddf2\ud83d\udd25 (@justinsuntron) January 6, 2023<\/a><\/p><\/blockquote>\n
With Sun being one of the <\/span>shady characters<\/span><\/a> in the crypto, it remains to be seen whether his <\/span>\u201cignore the FUD\u201d<\/span><\/a> strategy will work. But with Huobi\u2019s <\/span>worsening<\/span><\/a> FUD, the exchange becoming the next FTX would definitely devastate many investors and send shockwaves to the entire crypto space.<\/span><\/p>\n
-Featured image by PortalCripto<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier. USDD, a stablecoin created by the founder of the Tron Blockchain, Justin Sun, has been losing its peg to the U.S. dollar. According to Coingecko, USDD is currently trading at $0.9805. Although USDD was designed to be pegged to the dollar like other stablecoins, its value has fluctuated between $0.9806 and $0.9798 during the past week. As this developed, Sun\u2019s crypto exchange, Huobi Global, joined the ranks of crypto companies that started this year with job cuts. Adding to the pressure is the fear, uncertainty and doubt surrounding the Huobi exchange itself. Recent social media posts regarding the exchange shows that Huobi has higher withdrawals than deposits which strengthened fears of a possible halting of withdrawals.\u00a0 USDD creator, Justin Sun. Image: Cover art\/illustration via CryptoSlate How Does USDD Stablecoin Work?\u00a0\u00a0 USDD is an algorithmic stablecoin which uses complex arithmetic to keep the price pegged to a dollar. According to Tron DAO\u2019s blog post about the inner workings of USDD, the stablecoin is not considered de-pegged by the system when it drops lower or goes higher than $1.\u00a0 Looking at the charts, the stablecoin is consistently testing its 3% leeway set by the system. Although the system itself does not consider USDD depegged, this consistency is worrying as any further drop might cause more troubles – or eventually led to the fate that befell UST\u00a0 when it crashed. With investors skeptical of USDD since its inception, Sun has not done anything as of now. This is clearly because of the current situation at Huobi, leaving the reins to the system that\u00a0 govern USDD.\u00a0 \ud83d\udfe1 Justin’s $1.1B withdrawal: – It was speculated that this was used to fund Huobi’s operations – Likely untrue, the amount is way too large to cover burn rate – Even Twitter running at its most wasteful state only burns at $4mil\/month – Whispers of him cashing out 4\/ https:\/\/t.co\/DXwtdjRtFP \u2014 Rock \ud83e\udea8 (@DataaRocks) January 6, 2023 Huobi\u2019s Situation And What It Means For USDD Sun, who is advisor to Huobi, has been said to be withdrawing more than a billion dollars which further strengthened the FUD surrounding the exchange. Speculators, however, believe that the withdrawn funds would be used for the operations of Huobi.\u00a0 This might be true, as the exchange might be burning through its liquidity as withdrawals continue to mount up due to recent negative developments. Any negative news on Huobi might have an effect on the peg of USDD and USDJ.\u00a0 Related Reading: Top 5 Crypto To Watch As CPI Data Is Released This Week Crypto total market cap at $807 billion on the daily chart | Chart: TradingView.com Related Reading: IMX Spikes 10% In Last 24 Hours \u2013 Will It Start The Week Strong? Not to mention that both stablecoins are limited in where they can be bought and sold. According to CoinCodex, USDD is tradable on 11 exchanges while USDJ is tradable on three. Both can be traded on Huobi and Poloniex. At @HuobiGlobal, we believe that the key to success in the world of cryptocurrency is to “Ignore FUD and Keep Building.” \u2014 H.E. Justin Sun\ud83c\udf1e\ud83c\uddec\ud83c\udde9\ud83c\udde9\ud83c\uddf2\ud83d\udd25 (@justinsuntron) January 6, 2023 With Sun being one of the shady characters in the crypto, it remains to be seen whether his \u201cignore the FUD\u201d strategy will work. But with Huobi\u2019s worsening FUD, the exchange becoming the next FTX would definitely devastate many investors and send shockwaves to the entire crypto space. -Featured image by PortalCripto<\/p>\n","protected":false},"author":557,"featured_media":515485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1162,14690,2386,12098,15241],"class_list":["post-515479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-business","tag-crypto-news","tag-huobi","tag-justin-sun","tag-stablecoins"],"acf":[],"yoast_head":"\nWhy Justin Sun's Stablecoin USDD Is Struggling To Maintain Its Dollar Peg<\/title>\n<meta name=\"description\" content=\"A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Justin Sun's Stablecoin USDD Is Struggling To Maintain Its Dollar Peg\" \/>\n<meta property=\"og:description\" content=\"A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T07:00:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-08T07:26:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1036\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg\",\"datePublished\":\"2023-01-10T07:00:37+00:00\",\"dateModified\":\"2023-03-08T07:26:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/\"},\"wordCount\":577,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550\",\"keywords\":[\"business\",\"crypto news\",\"huobi\",\"Justin Sun\",\"Stablecoins\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/\",\"url\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/\",\"name\":\"Why Justin Sun's Stablecoin USDD Is Struggling To Maintain Its Dollar Peg\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550\",\"datePublished\":\"2023-01-10T07:00:37+00:00\",\"dateModified\":\"2023-03-08T07:26:31+00:00\",\"description\":\"A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550\",\"width\":1036,\"height\":550,\"caption\":\"stablecoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\",\"name\":\"Christian Encila\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"caption\":\"Christian Encila\"},\"description\":\"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.\",\"sameAs\":[\"jomarjet01\"],\"url\":\"https:\/\/wncen.com\/author\/jomarjet01\/\"}]}<\/script>\n","yoast_head_json":{"title":"Why Justin Sun's Stablecoin USDD Is Struggling To Maintain Its Dollar Peg","description":"A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/","og_locale":"en_US","og_type":"article","og_title":"Why Justin Sun's Stablecoin USDD Is Struggling To Maintain Its Dollar Peg","og_description":"A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier.","og_url":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-01-10T07:00:37+00:00","article_modified_time":"2023-03-08T07:26:31+00:00","og_image":[{"width":1036,"height":550,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png","type":"image\/png"}],"author":"Christian Encila","twitter_card":"summary_large_image","twitter_creator":"@newsbtc","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Christian Encila","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/"},"author":{"name":"Christian Encila","@id":"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80"},"headline":"Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg","datePublished":"2023-01-10T07:00:37+00:00","dateModified":"2023-03-08T07:26:31+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/"},"wordCount":577,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550","keywords":["business","crypto news","huobi","Justin Sun","Stablecoins"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/","url":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/","name":"Why Justin Sun's Stablecoin USDD Is Struggling To Maintain Its Dollar Peg","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550","datePublished":"2023-01-10T07:00:37+00:00","dateModified":"2023-03-08T07:26:31+00:00","description":"A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier.","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550","width":1036,"height":550,"caption":"stablecoin"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80","name":"Christian Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg","url":"http:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/stablecoin-usdd-struggles\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["business","crypto news","huobi","justin sun","stablecoins"],"dateCreated":"2023-01-10T07:00:37Z","datePublished":"2023-01-10T07:00:37Z","dateModified":"2023-03-08T07:26:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/stablecoin-usdd-struggles\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/stablecoin-usdd-struggles\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/stablecoin.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/stablecoin.png?fit=1036%2C550\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"business\",\"crypto news\",\"huobi\",\"justin sun\",\"stablecoins\"],\"dateCreated\":\"2023-01-10T07:00:37Z\",\"datePublished\":\"2023-01-10T07:00:37Z\",\"dateModified\":\"2023-03-08T07:26:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/stablecoin.png?fit=1036%2C550","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/515479"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=515479"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/515479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/515485"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=515479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=515479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=515479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}