Due to the Arbitrum TMX contract vulnerability incident, USDG is currently facing significant short-term selling pressure and its price has dropped to a major support zone (recommend monitoring the 0.96-0.98 USDT range). There is a need to be alert for repeated arbitrage risks and further downward pressure. However, this incident was caused by an external contract logic flaw and did not impact the core peg or reserve mechanism of USDG. In the medium to long term, if the project team quickly fixes the vulnerability and improves risk controls, market confidence may recover, and USDG is expected to steadily return to the reasonable peg level of 1.00 USDT. Strategy recommendation: avoid blind bottom-fishing in the short term, wait for repair measures to take effect and market sentiment to recover, then gradually accumulate positions in batches; pay close attention to policy transparency and external risk control signals.

Recently, a security vulnerability involving approximately $1.4 million was discovered in TMX-related contracts on Arbitrum. Attackers minted and staked TMX LP tokens to obtain USDT, then repeatedly swapped USDT for USDG and dumped them, resulting in excess USDG circulation and selling pressure in the market. This operation directly intensified the short-term sell-off, causing USDG prices to fall under pressure. Technically, recent candlestick charts show price fluctuations near key support levels accompanied by increasing trading volume, reflecting the market's panic selling sentiment due to this news. If repeated arbitrage activities cannot be curtailed in the short term, the price may probe further downwards, facing additional tests of support from bears.

From a value perspective, this vulnerability stems from a specific contract logic flaw rather than an issue with USDG's algorithm or reserve mechanism itself. As a stablecoin, USDG’s peg and underlying USDT/on-chain asset reserves still have redemption power, and its long-term value remains fundamentally intact. If the project team can promptly fix the vulnerability, replenish lost funds, and introduce appropriate compensation or enhanced risk control plans, market confidence could be gradually restored. As sentiment and liquidity recover, USDG is expected to re-enter a stable price range from a medium to long-term perspective.

Global Dollar

Important news from last night and this morning (April 16 - April 17).

Bank of Japan Governor: We need to simultaneously address rising energy prices and economic downturn risks; policy-making is very difficult at this stage.

ECB policymakers play down April rate hike chances

Declining energy prices have moved the euro-zone economy back toward the European Central Bank’s base case and may mean interest-rate increases aren’t needed, according to Governing Council member Primoz Dolenc.

Fed’s John Williams Signals Support for Holding Rates Steady Ahead of FOMC Meeting

Federal Reserve Governor Milian: Currently, it seems that there may only be three rate cuts remaining for the rest of the year.

Milan: Prefers to cut interest rates 3 times this year, but possibly 4 times.

Latin America: Diverging central bank paths – BNP Paribas

Fed's Williams: If inflation reaches target level, rate cuts are still expected

Federal Reserve's Williams: Now is not the time to provide forward guidance on interest rates.

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USDG price today is 1.00, with a live price change of 0.00 in the last 24 hours. Convert, buy, sell and trade USDG on Bybit-eu.

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