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After winning approvals in the European Union (EU) and Canada, Circle's USDC and EURC have received recognition from the Dubai Financial Services Authority (DFSA). Under the approval, the stablecoins will see mainstream application by firms in the Dubai International Financial Center (DIFC).
With a 78% market share, USDC dominates Solana's stablecoin ecosystem, overshadowing Tether (USDT) and other rivals.
Infini, a stablecoin-focused neo-bank, suffered an exploit that resulted in a loss of approximately $49.5 million in USDC. Blockchain security firm Cyvers detected the breach less than a day after the platform celebrated reaching a $50 million total value locked (TVL) milestone.
Crypto exchange OX.FUN, backed by Three Arrows Capital's Su Zhu, faces insolvency accusations and transparency concerns after freezing a $1 million user deposit, which the exchange claims resulted from market manipulation attempts.
Infini Neobank Hacked, losing $49.5 million USDC due to a compromised private key. The attacker swapped assets to ETH and moved them to a new wallet.
The stablecoin neobank Infini encountered a severe setback on Monday as it fell victim to a hack. As per various on-chain trackers, 49.5 million USDC was drained from the platform.
Circle has minted another 250 million USDC on Solana, pushing its 2025 total issuance to 8 billion USDC as demand for regulated stablecoins grows.
Crypto exchange OX.FUN has come forward to address rumors of insolvency and nearly $1 million USDC frozen with the exchange. Following the early talks about the mass exodus of funds, the exchange came forward stating that all withdrawals are processing normally while calling the talks “co-ordinated FUD”.
A federal framework would embolden countless companies to dive into the stablecoin market, according to Chronicle Labs founder Niklas Kunkel.
The world's largest stablecoin issuer, Tether, minted an additional $1 billion worth of USDT on the Tron network in the past 11 hours. At the same time, Circle also minted another 250M USDC on the Solana network.
A wallet later confirmed to belong to David Portnoy lost up to $5.34M from LIBRA. Later, the wallet received a compensation of 5M USDC.
Coinbase CEO Brian Armstrong said the firm aims to challenge Tether's position as the reigning stablecoin issuer by making USDC “number one."
Solanas bridge platforms have exceeded $10.1 billion in total inbound volume since 2021, marking a 114% increase from $4.7 billion recorded up to February 2024, according to Flipside Crypto. This surge highlights Solanas growing role in cross-chain transfers.
Aston Martin Aramco Formula One Team has partnered with cryptocurrency platform Coinbase in a multi-year deal fully paid in USDC stablecoin, marking a first in Formula One history.
Coinbase secures a sponsorship deal with Aston Martin F1, paying entirely in USDC. The partnership highlights the growing role of stablecoins in sports sponsorships, offering lower costs and borderless transactions. The post Coinbase Partners with Aston Martin F1, Pays Entirely in $USDC appeared first on Cryptonews.
Aston Martin Aramco Formula One Team has announced a multi-year partnership with Coinbase, marking Coinbase's debut in Formula One. The deal is notable for being fully transacted in USDC (USDC), a stablecoin pegged to the U.S. dollar.
Aston Martin's Formula One team will sport Coinbase branding this season, with the deal uniquely paid entirely in USDC.
Circle's USDC has surpassed its previous peak from 2022 and recovered from its market capitalization collapse triggered by a regional bank run in 2023.
Circle's USDC stablecoin has reached an all-time high market capitalization of over $56 billion, signaling renewed growth in the stablecoin sector. The surge comes as decentralized finance (DeFi) activity picks up, particularly on the Solana blockchain, boosting USDC adoption and demand. Over the past month, USDC added $10.
With $98.53B in weekly transactions and a $1.17B net outflow, whales are accumulating, fueling DeFi and OTC trading.
USDC and USDT minting accelerated in the past weeks, providing a bullish signal for crypto markets despite declining token prices.
Binance turned into the biggest market for USDC, as traders flocked to swap out their USDT. The rapidly growing stablecoin answers the demand for regulated assets in the Euro area.
Can Tether still sleep peacefully? USDC rises to $56.3 billion, wipes out its losses, and makes its way to the table of the big players.
Binance decreased its corporate reserves, moving or reallocating some of its excess BTC, ETH and SOL reserves. Some of the funds shifted to USDC.
