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Following the detection of a substantial token movement from Multichain's bridging networks to an undisclosed address, the platform has temporarily suspended its services.
Circle, the issuer of the popular stablecoin USDC, has taken swift action in response to a recent security breach on the Multichain protocol.
Circle blacklisted three wallet addresses that received a significant outflow of funds from Multichain.
Bitwage, a cryptocurrency payroll company, has announced it will remove USDC-based payments for U.S. residents. In an email sent to U.S.-based customers, Bitwage explains removing the second-largest stablecoin by market cap from its platform is related to a “more strict regulatory climate” in the U.S. regarding crypto. Bitwage Drops USDC Payments in the U.S.
Do Kwon moved all 18.73 million USDC holdings to an anonymous address on July 3, same day as the transfer of 5292 BTC to the anonymous wallet.
Bitwage, a cryptocurrency payroll company, just informed in an email to its clients on July 5 that it would no longer accept USD Coin (USDC) payments from US citizens.
In an email sent to customers on July 5, crypto payroll company Bitwage announced it would disable payments in USD Coin (USDC) for U.S. residents. Over the past month, financial regulators in the U.S. have increased their regulatory scrutiny of the crypto space, bringing charges against major crypto firms, including Binance and Coinbase.
Hong Kong government should consider launching its own stablecoin, the HKDG, backed by its foreign exchange reserves. That's according to a proposal put forward by web3 expert and Hong Kong University Vice Chancellor Wang Yang; angel investor Cai Wensheng; BlockCity founder Lei Zhibin; and Ph.D.
The autonomous territory in southeast China, Hong Kong, has been urged to issue its own stablecoin to compete with popular stablecoins such as Tether (USDT) and USD Coin (USDC).
Hong Kong is wasting no time since it opened its doors to the crypto industry last month. A recent proposal is for the creation of an HKD stablecoin to compete with USD-denominated ones.
“Issuing a stablecoin pegged to the HK dollar not only helps to solidify HK's leadership in the blockchain sector but also propels the progress of the digital HK dollar," said the report.
To solidify its position as a global financial hub, Hong Kong is making waves in the cryptocurrency industry with plans to launch its state-backed stablecoin. This move comes as the region's interest in digital currencies and Web3 technology continues to grow.
Hong Kong plans to issue its own stablecoin, HKDG, to rival USDT and USDC, aiming to enhance its fintech capabilities and challenge the U.S. Dollar's crypto dominance.
A new policy proposal urges the Hong Kong government to issue a stablecoin pegged to the Hong Kong dollar to compete with USDT and USDC.
USDC experienced a notable decrease in its circulating supply during the weekend, causing ripples of concern within the cryptocurrency market. According to data from CoinGecko, the stablecoin's circulating supply dwindled by over 2%, falling from $27.9 billion on June 30 to $27.3 billion in less than 48 hours.
Stablecoin USDC saw its circulating supply dip by over 2% over the July 4 weekend.
Coinbase said Wednesday that Coinbase Advanced, its trading platform aimed at more sophisticated traders, will offer “up to 4% rewards on the USDC that they hold on Coinbase or on any USDC used in open orders.”
Circle, the blockchain startup and stablecoin issuer, has unveiled its Cross Chain Transfer Protocol (CCTP) on the Arbitrum network. The launch of CCTP aims to enhance the accessibility and movement of the USDC stablecoin on the Ethereum Layer-2 scaling network.
Weeks after launching USDC on Arbitrum, blockchain startup and stablecoin issuer, Circle has announced the launch of its Cross Chain Transfer Protocol (CCTP) on Arbitrum in a bid to help boost the easy movement of the stablecoin on the Ethereum Layer-2 scaling network. 1/ Moving $USDC natively to @Arbitrum just got that much easier.
Circle, the issuer of the blockchain ecosystem's second largest stablecoin USD Coin (USDC), has unveiled the launch of the Cross Chain Transfer Protocol (CCTP) on Arbitrum, a tool that facilitates the easy movement of the token to the Ethereum-based Layer 2 scaling network.
Circle's Cross-Chain Transfer Protocol is now operational on Arbitrum, a Layer 2 scaling solution for Ethereum.
Terraform Labs CEO Do Kwon moved 1 million USDC from his personal wallet to a new wallet that had not been used since May.
German multinational software giant SAP is launching a new “test drive” for a proposed blockchain-based cross-border payments system. In a new blog post, Sissi Ruthe, a product expert at SAP, says that digital assets have the potential to significantly speed up and reduce the costs of cross-border payments.
An unknown investor with a history of savvy trades has deposited $16 million worth of stablecoins into Binance, potentially to purchase more crypto assets.
