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” Bitcoin price spikes to ‘$26K’ in USDC terms — How high can the BTC short squeeze go? “ Bitcoin (BTC) refused to let $20,000 support die for good on March 11 as the weekend opened to a battle for lost ground. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin shakes off USDC depeg Data…
” Circle’s USDC instability causes domino effect on DAI, USDD stablecoins “ The stablecoin ecosystem felt an immediate effect as USD Coin (USDC) depegged from the US dollar due to a subsequent sell-off after Silicon Valley Bank (SVB) did not process $.3.3 billion of Circle’s $40 million transfer request. Given USDC’s collateral influence, major stablecoin…
” USDC investor shells out $2M to receive $0.05 USDT trying to evade crash “ Soon after Circle revealed that Silicon Valley Bank did not transfer $3.3 billion of its USD Coin (USDC) reserves, the market responded with a massive sell-off — depegging the stablecoin from the US dollar. However, not all investors were lucky…
” USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank “ Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 mark. On…
” Circle discloses $3.3B tied up at Silicon Valley Bank “ On March 10, Blockchain payment technology company Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Bank (SVB). “Following the confirmation at the end of today…
” Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment “ The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of experimentation with algorithmic stablecoins could finally…
” Crypto Biz: Coinbase has a lot at stake “ Crypto assets made their way onto the United States Securities and Exchange Commission’s list of priorities for 2023. So far, though, we haven’t tasted the “regulatory certainty” many have been calling for. Instead, the regulator threw the book at Kraken for allegedly failing to register…
” SEC is not the appropriate regulator for stablecoins: Circle CEO “ The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire. In an interview with Bloomberg on Feb. 24, the Circle chief executive aired his views on the SEC and its recent…
” USDC issuer Circle to increase staff by up to 25% amid layoff season “ USD Coin (USDC) issuer Circle plans to increase its workforce by 15-25% in 2023 amid a sea of layoffs across the industry, reported the Wall Street Journal. At a time when a significant chunk of industry-wide firms is laying off staff to…
” Binance mints 50M TrueUSD days after Paxos ordered stop issuing BUSD “ Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes…