A major stablecoin depegging event raised concerns about the stability of these assets amid a U.S. banking crisis. The result may have been an improvement in their position in traditional finance. The collapse of Silicon Valley Bank (SVB), which suffered a bank run after revealing a hole in its finances over the sale of part…
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Circle’s APAC Vice President said that the company currently holds 80% of its reserves but would ultimately like to keep all cash with the Fed, in light of the recent banking crisis. Circle has been subject to discussion in the crypto industry since the depegging of its stablecoin (USDC) due to the collapse of Silicon…
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According to the token protocol startup Noble, the second-largest stablecoin, USDC, will be integrated into the Cosmos blockchain, as the company has partnered with Circle Financial for the rollout. Noble details that the integration will give access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks. USDC Native Support Is Coming to…
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Crypto firms who have had the strongest position with U.S. regulation are now considered “unsafe,” Circle CEO Jeremy Allaire stated. The ongoing crisis and uncertainty around the global banking system could push the cryptocurrency market into a more gray area in terms of regulation, Circle chief executive believes. Jeremy Allaire, CEO of the USD Coin…
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“Any links to offers are scams. We are investigating the situation and taking action accordingly,” wrote USDC issuer Circle. According to an official post on Mar. 22 from Circle, issuer of the USD Coin (USDC) stablecoin, the Twitter account for its chief strategy officer (CSO) and head of global policy Dante Disparte has been compromised.…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Coinbase Halts Support for Signature Bank’s Signet, MetaMask & MoonPay Expand Partnership in Nigeria, India to Hit 156M Crypto Users This Year, Xapo Bank Integrates USDC Payment Rails…
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“Financial institutions may reconsider adopting stablecoins to settle agreements involving tokenized securities out of concern over the coins’ potential volatility,” Moody’s said. Recent turmoil in the traditional banking sector, culminating in USD Coin (USDC) losing its peg, could negatively affect stablecoin adoption and potentially increase calls for regulation, argued credit rating agency Moody’s Investors Service. …
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DeFi suffered its biggest attack this year with a flash loan attack on crypto lending platform Euler Finance and the hackers are belived to be same that exploited a BSC based protocol in February. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant…
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Turmoil in traditional finance spilled over into Bitcoin and crypto markets, forcing federal regulators to step in. Crypto investors should know by now that it doesn’t take much to topple a distressed multi-billion-dollar firm. On March 10, California regulators officially shut down Silicon Valley Bank (SVB) 48 hours after the company disclosed it was in…
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The popular stablecoin USD Coin (USDC) has seen outflows of around $3 billion over three days this week, issuer Circle said in a blog post on Thursday. According to the blog post, Circle redeemed $3.8 billion USDC and minted $0.8 billion new USDC tokens between Monday and Wednesday this week, making the net outflow $3…
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