Raids on crypto payment firms in Bengaluru disrupted the pipeline that feeds dollar-pegged USDT to Indian platforms, pushing its local price more than 8.5% above the dollar, roughly double the usual gap. The price of USDT on Indian crypto platforms has surged to more than 8.5 percent above its dollar peg after a government crackdown choked the token’s supply. India’s Enforcement Directorate searched six Bengaluru premises and accused five crypto payment firms of moving over $265 million in unau…
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