Erebor Ends Free Stablecoin Conversions After Trading Firms Exploit Price Gap
Erebor curbs free stablecoin conversions after traders exploit pricing gap Erebor Bank has ended no-fee USDC and USDT conversions for customers without sizable deposits and added volume-based fees and limits after trading firms including Wintermute and Galaxy Digital reportedly used the offer to buy stablecoins below $1 and redeem them at face value. The Information said Wintermute did the trade with millions of dollars worth of USDT, leaving Erebor to absorb the cost.