10 / 14 Relevant items tagged with #Usdc

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USDC Goes L2: Circle’s Stablecoin to Make Its Native Debut on Arbitrum

[Jun 2, 2023 5:30 AM] Stablecoin provider, Circle Internet Financial, has revealed that its dollar-pegged token, USDC, will be natively introduced on the layer two (L2) blockchain Arbitrum on June 8. The announcement follows Circle’s disclosure of its euro-pegged…

USDC Issuer Circle Has Ditched All U.S. Treasuries From $24B Reserve Fund Amid Debt Ceiling Showdown

[May 31, 2023 12:40 PM] tk

Stablecoin Economy Reaches 20-Month Low as BUSD Redemptions Surpass 10 Billion Tokens in 3 Months

[May 31, 2023 8:30 AM] Three months have passed since Paxos made the decision to cease the production of new BUSD tokens, complying with the directive issued by the New York Department of Financial Services (NYDFS). Since February 13, 2023, 10.62 billion BUSD tokens have…

The End of Tether? Why A Structural Shift In The Market Spells Trouble For USDT

[May 29, 2023 2:30 PM] Tether (USDT) is the largest stablecoin in the market, with a market capitalization of over $86 billion as of May 2023. Despite the concerns about the current state of the cryptocurrency market, Tether has continued to dominate the stablecoin…

Burning Metrics: Ethereum Burns 3.33 Million Ether Valued at $6.1 Billion in 21 Months

[May 28, 2023 12:00 PM] In the past 21 months following Ethereum’s London hard fork, the network has witnessed the destruction of over 3.33 million ether, valued at $6.1 billion. At present, roughly 3.51 ether is burned every single minute. Standing out as a…

Stablecoin Economy Shrinks by $7.3 Billion in 2023, USDC and BUSD Record Mass Redemptions 

[May 21, 2023 9:30 AM] From the beginning of this year, the crypto economy has surged by 41.77%, reaching a current market capitalization of $1.17 trillion. However, amidst this growth, the stablecoin economy experienced a substantial loss of $7.3 billion within a span…

Crypto Market Recovery Unlikely Until Stablecoin Universe Stops Shrinking: JPMorgan

[May 19, 2023 4:50 AM] Tether’s market cap has been growing at the expense of rival stablecoins such as USD Coin, the report said.

U.S. Hearing Highlights Stablecoin Rift in Competing House Bills

[May 18, 2023 10:45 AM] U.S. lawmakers aren’t yet able to reach across the chasm between Republicans and Democrats’ very different ideas for how to oversee stablecoins, despite notes of hope from both sides evident in a Thursday hearing of the House Financial Services…

There's a growing case for allowing crypto firms to bypass banks

[May 17, 2023 9:03 PM] Making the European Central Bank accessible to payment companies other than traditional banks would allow users to redeem their stablecoins directly for cash.

Australia marks first FX transaction using a CBDC as eAUD pilot continues

[May 17, 2023 8:00 PM] The Australian digital dollar was used in a trade for a U.S. dollar stablecoin using an Ethereum layer 2 blockchain.

USDC Issuer Circle Moves $8.7B to Repo Agreements to Protect Reserves From U.S. Government Default

[May 17, 2023 1:52 PM] Circle’s reserve fund has ditched Treasury bills that mature beyond May 31, rotating assets to cash and overnight repurchase agreements instead, a company spokesperson said.

Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions 

[May 13, 2023 12:00 PM] Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of…

The US should promote USDC — before it's too late

[May 12, 2023 12:03 PM] USDC brings stability to cryptocurrency. It would behoove the financial system if policymakers took measures to foster its adoption.

Circle reportedly adjusts USDC reserves to avoid US default risk

[May 10, 2023 11:35 PM] The world’s second-largest stablecoin issuer wants to reduce its exposure to potential US debt defaults.

Tether has $1.5B in Bitcoin reserves: BDO Italia

[May 10, 2023 2:30 PM] The financial advisory and accounting firm also revealed that Tether held roughly $3.4 billion worth of precious metals.

Coinbase Launches International Exchange for Bitcoin and Ether Perpetual Futures

[May 2, 2023 3:30 PM] Coinbase, the San Francisco-based cryptocurrency exchange, recently announced the launch of a new service called Coinbase International Exchange. The new platform will enable institutional users outside of the United States to trade bitcoin and…

Avalanche Remains Under Pressure Despite Circle’s CCTP Effort

[Apr 27, 2023 12:00 PM] The native currency of Avalanche, AVAX, remains under pressure despite Circle’s effort to launch a facility that will enable the direct transfer of USDC between Ethereum and Avalanche blockchains.  Avalanche (AVAX) Is Down 18% From April 2023…

NY Fed Policy Change Could Squash Stablecoin Issuer Circle’s Hope for Fed Access

[Apr 25, 2023 6:10 PM] Funds structured as stablecoin issuer Circle’s Blackrock-managed USDC reserve fund “generally will be deemed ineligible” for the New York Federal Reserve’s reverse repurchase program under the new rules.

Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31

[Apr 25, 2023 10:00 AM] While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the…

Crypto Lending Protocol MakerDAO Approves Transferring a Maximum of $500M in USDC to Coinbase Custody for 2.6% Yield

[Apr 20, 2023 2:33 PM] The maneuver is part of MakerDAO’s earlier decision to move up to $1.6 billion of USDC stablecoins to Coinbase’s custody arm.

Stablecoin Market Share Dwindles As USDC And BUSD Supply Deplete

[Apr 20, 2023 11:00 AM] The top 4 stablecoin valuations have declined significantly since this year. USDC and BUSD supply has depleted by $31 billion, pushing down the overall stablecoin market share.  In addition, the top 4 stablecoins’ market capitalization has…

Ethereum Continues Stretching Gains Against Bitcoin 4 Days After Shanghai

[Apr 18, 2023 4:00 PM] The Ethereum uptrend continues when writing on April 18, four days after the smart contracting platform activated the much-anticipated Shanghai Upgrade. As Ethereum bulls double down, the coin has outperformed Bitcoin, the world’s largest…

Tether Stablecoin Sees 22% Growth in 2023 Despite Dollar-Pegged Token Economy’s Contraction

[Apr 17, 2023 12:00 PM] Since January 2023, the number of tether stablecoins in circulation has grown from 66 billion to the current 80.9 billion, representing growth of more than 22% this year. Tether’s growth is approaching the high of $83 billion in stablecoins…

Tether market cap eyes record high after regaining 65% stablecoin dominance

[Apr 17, 2023 9:10 AM] The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle.

Centralized Stablecoins Are Problematic. Is a Decentralized Alternative on the Way?

[Apr 17, 2023 7:10 AM] USDC and USDT both have issues that truly decentralized, blockchain-based protocols are designed to solve.

Ondo Finance Plans Yield-Generating Stablecoin Alternative for Institutional Investors

[Apr 13, 2023 12:30 PM] The new stablecoin-like token, OMMF, will be backed by conventional money market funds and is available only to qualified purchasers and accredited investors. But retail investors can lend against the tokens via Ondo’s DeFi protocol Flux to…

Sushiswap Smart Contract Bug Results in Over $3M in Losses; Head Chef Says Hundreds of ETH Recovered

[Apr 9, 2023 9:30 PM] According to several reports, a bug introduced to the decentralized exchange (dex) protocol Sushiswap’s smart contract has resulted in more than $3 million in losses. The blockchain and smart contract security firm Peckshield explained the…

Uniswap Topped Coinbase’s Trading Volume in March During USDC Depeg, U.S. Crackdown

[Apr 6, 2023 11:56 AM] The DEX, however, has been unable to maintain elevated periods of trading volumes in the past, CCData noted.

Rogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses

[Apr 4, 2023 8:00 AM] On April 3, 2023, at Ethereum block height 16,964,664, a group of MEV (Maximal Extractable Value) bots were exploited for $25.3 million. An analysis of the exploit revealed that a renegade validator switched the MEV bots’ transactions and…

Pancakeswap Launches Version 3 of Protocol on BNB and Ethereum Blockchains

[Apr 3, 2023 10:30 AM] On Monday, April 3, the decentralized exchange (dex) platform Pancakeswap launched version 3 of its protocol (v3) on the Binance Coin (bnb) and Ethereum blockchains. The new application aims to improve the performance of the dex protocol and reduce…