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MakerDAO (MKR) founder Rune Christensen has asked DAO members to consider converting its $3.5 billion USDC reserves to Ethereum (ETH) because of the extent of the Tornado Cash sanctions. The post MakerDAO founder proposes converting $3.5B USDC reserve to Ethereum appeared first on CryptoSlate.
Announcing through Discord, MakerDAO's founder Rune Christensen revealed that the DeFi protocol might consider de-pegging its native token DAI from stablecoin USD Coin (USDC).
Rune Christensen, the co-founder of MakerDAO, said that the DAI stablecoin could drop its peg to the US dollar, removing all the risks of working with USDC. According to daistats, the DAI stablecoin is now 60% backed by USDC (estimated to be worth $3.5 billion).
MakerDAO co-founder Rune Christensen plans to sell up to $3.5B in USDC for Ethereum — a move that could result in its DAI stablecoin losing its dollar peg. The post MakerDAO Founder Plans to Sell $3.5Bn USDC Backing For Ethereum, Risks DAI Depeg appeared first on BeInCrypto.
In a big development, Rune Chirstensen, founder of MakerDAO has urged all the members to “seriously consider” preparing the depeg of the DAI stablecoin from the U.S. Dollar. The comments came on the MakerDAO discord channel on Thursday, August 11, after the U.S. Treasury sanctioned crypto mixer Tornado Cash earlier this week.
While bullish for Ethereum, Vitalik Buterin called the potential conversion a “terrible idea.”
Anchorage Digital, a federally chartered digital asset bank, has partnered with well-known funding platform and talent board AngelList to invest using USDC. AngelList and Anchorage say they are bridging the gap between fiat currency and VC funding.
Tether (USDT) and USD Coin (USDC) issuers have thrown their weights fully behind Ethereum transition to the proof-of-stake (PoS) consensus algorithm, as September 19, 2022, Merge date draws near, according to reports on August 9, 2022.
Following Circle's freeze of blacklisted Tornado Cash addresses, MakerDAO is re-assessing the risks associated with its USDC collateral. The post MakerDAO plans against sanctions from USDC exposure appeared first on CryptoSlate.
In light of this, recent research has predicted that USDC will flip USDT as the largest stablecoin in 3 months.
USD Coin (USDC) issuer Circle says that it will support only the Ethereum proof-of-stake chain once the leading smart contract platform completes its highly anticipated Merge.
Ethereum is staring at another schism in the network as it inches toward transitioning to the PoS consensus mechanism. Stablecoin companies pitch their tents with the planned transition while other entities push for a hard fork.
Circle-issued, the second most popular stablecoin, USD Coin (USDC), has the potential to overtake the most popular stablecoin, tether (USDT), in coming years, according to a survey of analysts.
Bitcoin.com Wallet has announced the addition of more ERC-20 tokens to its list of supported assets. We tell you more about this.
Circle CEO Jeremy Allaire pledged to do more to address privacy concerns after it froze $75,000 in USDC belonging to users of Tornado Cash. The post Circle Pledges Action on User Privacy After Freezing $75K Tornado Cash-Linked USDC appeared first on BeInCrypto.
Leading stablecoins, Tether (USDT) and USD Coin (USDC) have announced their support for the highly anticipated Ethereum's changeover to Proof-of-Stake (PoS) consensus in its
Developers say Proof-of-Stake will use substantially less energy than Proof-of-Work did — and reduce barriers to entry because less advanced hardware is required.
Coinspeaker Circle Says Its USDC Stablecoin Won't Support Ethereum Proof-of-Work Hardfork
Circle co-founder and Chief Executive Officer Jeremy Allaire today took to Twitter to announce that his company was going to restrict the movement of USD Coin (USDC) in several Tornado Cash addresses.
The invention of Bitcoin [BTC] in 2008 led to the idea of decentralization which became the mantra of the entire crypto ecosystem. However, it was necessary to involve regulators and central authorities because of some illegal activities and their negative effect on unsuspecting investors.
USD Coin (USDC) issuer Circle has blacklisted wallet addresses associated with popular crypto-mixing service Tornado Cash. On August 8th, the US government said it was banning Americans from using Tornado Cash, citing national security threats.
On Tuesday (August 9), Circle Internet Financial Limited — the issuer of fully-collateralized stablecoin USD Coin ($USDC), which was launched on Ethereum in September 2018 — made an announcement that made most Ethereum ($ETH) HODLers breathe a sign of relief.
Circle insists it's doing “the right thing,” advocating for the new chain's development amid growing discussions of yet another Ethereum fork.
USDC stablecoin Issuer Circle has plans to solely support the Ethereum Proof-of-Stake chain post-merge.
