3 / 4 Relevant items tagged with #USDCoin

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Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds

[Mar 11, 2023 2:52 PM] According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar.

Curve Finance trading volume reaches $7B historic high after USDC depeg

[Mar 11, 2023 12:19 PM] The USD Coin depeg led the DeFi protocol to experience a record-breaking daily trading volume as crypto whales fight for assets.

Bitcoin price spikes to '$26K' in USDC terms — How high can the BTC short squeeze go?

[Mar 11, 2023 5:20 AM] Bitcoin recovers from the depegging of USDC, the second-largest stablecoin, from the U.S. dollar.

Circle’s USDC instability causes domino effect on DAI, USDD stablecoins

[Mar 11, 2023 4:44 AM] Following USDC’s depegging, three stablecoins — DAI, USDD and FRAX — also depegged from the U.S. dollar.

USDC investor shells out $2M to receive $0.05 USDT trying to evade crash

[Mar 11, 2023 1:42 AM] While the crypto market responded with a massive sell-off, not all USDC investors were lucky enough to walk away with their funds amid the uncertainty.

USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank

[Mar 10, 2023 11:05 PM] At the time of writing, USDC lost 3% of its value as it traded at $0.969, and a Circle executive envisions broader implications for business, banking and entrepreneurs without a Federal rescue plan.

Breaking: Circle discloses $3.3B tied up at Silicon Valley Bank

[Mar 10, 2023 10:07 PM] Circle joined other customers and depositors in calling for the continuity of SVB in the US economy.

Ethereum Co-Founder Vitalik Buterin’s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet

[Mar 8, 2023 3:30 PM] On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000 in value. The market liquidity of the…

Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment

[Mar 6, 2023 12:45 PM] The sun sets on algorithmic stablecoins as Frax shifts to a fully-backed model.

Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations

[Mar 6, 2023 8:30 AM] It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten…

Crypto Economy Swelled 80,466% Since 2013, Despite $1.5 Trillion Loss in 2022 Downturn

[Mar 1, 2023 9:00 AM] Nine years and nine months ago, on May 9, 2013, coinmarketcap.com recorded 14 cryptocurrency assets, and bitcoin’s overall valuation was $1.24 billion, with 11.13 million bitcoins in circulation at the time. Today, the same website indicates…

Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships

[Feb 24, 2023 6:05 PM] On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate…

Crypto Biz: Coinbase has a lot at stake

[Feb 24, 2023 1:30 PM] Coinbase says its staking product offerings are different than Kraken's, which came under SEC scrutiny and resulted in a $30 million fine.

USDC issuer Circle to increase staff by up to 25% amid layoff season

[Feb 23, 2023 3:03 AM] The plan to expand its workforce comes just months after it mutually called off its plans to go public via a SPAC merger.

Bitcoin Rally Fueled By USD Coin (USDC) Rotating Into BTC: Santiment

[Feb 22, 2023 10:30 AM] On-chain data from Santiment suggests the latest Bitcoin rally may have been fueled by USD Coin (USDC) shifting into the cryptocurrency. USD Coin Shark And Whale Addresses Have Declined Recently According to data from the on-chain analytics firm…

Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals

[Feb 16, 2023 4:10 AM] Tether’s USDT has seen its market capitalization rebound to nearly $70 billion as the SEC ordered Paxos to stop issuing BUSD, the third-largest stablecoin.

Bitcoin single-day price surge linked to billions in USDC inflows

[Feb 16, 2023 2:57 AM] Bitcoin proponents called it the start of another bull run, while a few other analysts believe it’s a bear trap.

Breaking: Circle squashes rumors of planned SEC enforcement action

[Feb 14, 2023 4:27 PM] Rumors swirled on Twitter that the stablecoin issuer received a litigation notice from the U.S. securities regulator but a Circle executive rebuffed the claim.

Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments

[Feb 14, 2023 8:00 AM] While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top…

Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 30 Days

[Feb 10, 2023 9:00 AM] It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S…

Stablecoin Economy Sheds Another $3 Billion in 44 Days

[Jan 28, 2023 3:00 PM] The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd…

Algorithmic stablecoin market share dropped by 10x from ATH: Report

[Jan 26, 2023 4:53 AM] The stablecoin market, in general, is going through hard times, though the algorithmic coins suffered the most.

The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg

[Dec 28, 2022 9:30 AM] 2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23…

Japan to lift the ban on foreign stablecoins like USDT in 2023: Report

[Dec 26, 2022 5:25 AM] None of the 31 crypto exchanges registered with Japan's Financial Services Agency are currently offering trading in stablecoins like USDT or USDC.

Stablecoin settlements can surpass all major card networks in 2023: Data

[Dec 22, 2022 4:44 AM] While on-chain stablecoins settlements are growing rapidly, many people pointed out that comparing stablecoin settlements to Visa transactions is not fair as they represent two different things.

Stellar partners with UNHCR to give Ukrainian refugees cash via USDC

[Dec 15, 2022 7:04 PM] One new project attempts to help bankless Ukrainian refugees, while another hopes to streamline international Red Cross projects.

Coinbase Entices Users to Switch From USDT to USDC, Crypto Firm Says Recent Events ‘Put Some Stablecoins to the Test’

[Dec 9, 2022 12:30 PM] Coinbase, one of the largest cryptocurrency firms in the industry, has published a blog post that tells users to “switch to the trusted and reputable digital dollar,” referring to the stablecoin asset usd coin. The company’s…

Coinbase takes a shot at Tether, encourages users to switch to USDC

[Dec 9, 2022 4:04 AM] Coinbase’s request comes just a couple of months after Binance ceased support for USDC.

Bitcoin Dominance Has Remained Under 40% for More Than 3 Consecutive Months

[Dec 7, 2022 9:00 AM] Over the last 100 days or roughly three months, bitcoin’s market dominance among 21,958 different crypto assets worth roughly $850 billion has been under 40%. Bitcoin dominance has been under 40% since Aug. 27, 2022, with a brief instance of…

How stable are stablecoins in the FTX crypto market contagion?

[Nov 29, 2022 8:23 AM] The collapse of crypto-exchange FTX hit the crypto world like a tropical storm. It bears asking once again: How stable are stablecoins?