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The entire crypto space felt a negative impact from the failure of the algorithmic stablecoin UST and Terra's native token, LUNA. Other top stablecoin projects like Tether's USDT and Circle's (USDC) have received more pressure from different angles.
It has been a tough summer for the stablecoin industry, as the collapse of Terra's algorithmic stablecoin, UST has alarmed the crypto community. As...
The payments management firm has released a detailed reserve report, revealing that its USDC stablecoin is backed only by cash and short-term treasury bonds. Full Reserve Report To Win Trust In a bid to practice transparency and instill trust among its customers, Circle Internet Financial has released a full breakdown of its USD Coin (USDC) holdings.
Circle issued its first monthly report of USDC reserve assets on July 14 in an effort to enhance transparency. The post Circle shuts down critics with on-going disclosures on USDC reserve assets appeared first on CryptoSlate.
Circle released a report proving that its stablecoin USDC is fully backed by physical dollars and 3-month U.S. Treasuries
As of June 30, about 75.6% of Circle's reserves were held in U.S. Treasuries and 24.4% were held in cash at regulated financial institutions.
Following the collapse of Terra and the subsequent crypto crash, stablecoin active addresses surged to a new all-time high. Meanwhile, bitcoin (BTC) and ethereum (ETH) active addresses have plunged drastically during this period.
Coinspeaker Celsius Network Repays $78M in USDC to Aave, Withdraws 6,083 WBTC of Collateral
After paying off its $220 million Maker loan fully last week, Celsius has resumed making payments on its remaining Aave and Compound debts. After paying 60 million USDC for its Aave loan over the course of three transactions, the cryptocurrency lender erased all of its wBTC today.
The crypto bear market has dragged many platforms to their knees, while most of the assets have plunged hard by nearly 90% from their highs. Bitcoin specifically dropped heavily from $69,000 amid the correction and slashed heavily from $45,000 to as low as $17,600 due to a couple of crashes led by the lending platforms. …
Banking Circle, the tech-first Payments Bank, is shifting the dial in the virtual assets market with a ground-breaking new service for Banks and Payments businesses.
Matt Taibbi, a notable author, and journalist wrote a scathing article warning against investing in USDC. Pointing to the Circle being the sole counterparty to its reserve funds, Taibbi revealed that Circle's Reserve Fund would belong to the company and not its holders.
Banking Circle, the tech-first payments bank, is shifting the dial in the virtual assets market with a new service for banks and payments businesses. By adding USDC stablecoins to its payment rails for payment acceptance, processing and settlement, Banking Circle is “delivering an easy to.
Earlier today, Tron DAO Reserve announced that it had added about 445M USDC to TRON, bringing the total supply value of USDC coins in the network to $3.3B. The organization stated that the addition is aimed keeping the crypto market…
Banking Circle, an European Union (EU) regulated payments bank has announced that it has integrated the USD Coin (USDC) stablecoin into its payment rail
Financial infrastructure provider Banking Circle said July 8 that it has started offering payment acceptance, process, and settlement in USDC. The post Banking Circle adds USDC payments and fiat conversion appeared first on CryptoSlate.
European payments bank Banking Circle is adopting USD Coin (USDC) on its platform as a payment acceptance, processing and settlement method, according to a press release.
Circle Internet Financials LLC, the blockchain company responsible for the issuance of the USDC stablecoin, has announced its latest partnership with New York Community Bank (NYCB).
Circle Internet Financial, which issues the stablecoin USD Coin, or USDC, Tuesday (June 28) announced a custody agreement under which New York Community Bancorp will serve as a custodian for USDC reserves. The companies also announced they will collaborate on developing blockchain systems to serve people that are underbanked.
This marks the first time a community bank will serve as a custodian for a stablecoin.
Circle, the issuer of USD Coin stablecoin, on Tuesday said it entered a custody partnership with New York Community Bancorp. Under the agreement, New York Community Bank will become a custodian for USDC stablecoin.
Many cryptocurrency-based firms have faced the wrath of a crypto meltdown that saw LUNA drop to zero. Interestingly, Three Arrows Capital (3AC), the beleaguered cryptocurrency firm tops the chart.
Bybit is one of the major crypto exchanges offering futures trading services globally. The exchange has launched a new trading service that settles options contracts in the stablecoin USDC.
Crypto exchange Bybit will offer futures contracts settled in USDC stablecoin. The post Bybit to offer futures contracts settled in the USDC stablecoin appeared first on The Block.
