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“# Circle and Endaoment to create USDC-based disaster relief fund for communities impacted by deadly tornado ” Circle, the company that created the USDC stablecoin, announced a partnership with public charity Endaoment to create a disaster relief fund. The fund will help mid-western American communities impacted by last week’s deadly tornadoes. The two entities hope…
“# House memo details Congress’ priorities ahead of crypto CEO hearing ” The United States House Committee on Financial Services released a memorandum detailing the points of discussion during the hybrid hearing on digital assets, to be held today at 10:00 a.m. ET. Addressing the members of the Financial Services Committee, the memo confirmed that…
“# Japan’s financial regulators may propose legislation in 2022 restricting stablecoin issuance ” According to The Nihon Keizai Shimbun (Nikkei), one of the world’s largest financial newspapers and the entity behind the Nikkei 225 stock index, Japan’s Financial Services Agency, or FSA, will propose legislation next year restricting stablecoin issuance to only bank and wire…
“# Circle to invest in Japanese yen stablecoin as part of expansion to Asia ” Circle, the United States-based issuer of USD Coin (USDC), has set its sights on thriving Asian crypto markets. In a move to strengthen its presence in Asia, Circle picked Singapore to establish a regional headquarters. The company is also setting…
“# Following Bitcoin’s all-time high, DeFi TVL hits a record high above $233B ” Bullish sentiment is running high across the cryptocurrency market on Oct. 20 as Bitcoin’s (BTC) surge to a new all-time high at $67,000 thrust the digital asset into uncharted territory and investors are closely watching to see how altcoins and DeFi…
“# Circle reveals cooperation in ongoing SEC investigation ” Circle, the company behind the world’s second-largest stablecoin USD Coin, has been subpoenaed by the U.S. Securities and Exchange Commission (SEC). According to an Oct. 4 regulatory filing from Circle, the SEC issued an “investigative subpoena” from its Enforcement Division in July. Circle, which is behind…
“# Following SEC notice, Coinbase abandons plan for crypto lending program ” U.S.-based cryptocurrency exchange Coinbase has announced it will not be pursuing its Lend crypto lending program. In a Sept. 17 update to a blog announcing the program in June, Coinbase hinted at difficulties in regulatory clarity across the crypto industry in its decision…
“# Treasury plots stablecoin crackdown even as Tether’s dominance wanes ” The U.S. Treasury Department is reportedly preparing a review highlighting challenges posed by stablecoin redemptions and the effect of a possible run on the crypto asset market. According to a Sept.16 report from Bloomberg citing anonymous sources, Treasury officials are readying policy recommendations designed…
“# Does Evergrande’s $300B debt crisis pose systemic risk to crypto industry? ” Amid speculation as to whether China’s second-largest property developer, Evergrande Group, will default on its $300 billion in debts, analysts are wondering whether the firm’s collapse could pose contagion risks for the crypto industry. On Sept. 8, Fitch Ratings asserted it “appears…
“# Which stablecoins were actually ‘stable’ during this week’s sudden Bitcoin price crash? ” A sharp sell-off across the cryptocurrency market on Tuesday — that saw top tokens Bitcoin (BTC), Ether (ETH), Cardano (ADA) and Solana (SOL) fall by double-digital percentages — created a venue for stablecoins to prove their worth. The fixed-price cryptocurrencies offered…