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Coinbase sent up to 4.7B USDC tokens to Circle for burning. This signifies that the consumers are exchanging their crypto assets for fiat currency.

The United States authorities are continuing their assault on cryptocurrencies, exchanges, and issuers, and it seems that the activities are having an effect on the attitude and sentiments of investors as well.

The U.S. Securities and Exchange Commission (SEC) crackdown against crypto staking has caused panic in the crypto market. In the last 24 hours, Coinbase users have converted nearly $5 billion of Circle's USD Coin (USDC) stablecoin to fiat due to panic caused by actions of US regulators.

This was revealed on Sunday directly by the head of the company's crypto division, Cuy Sheffield, speaking at the first session of StarkWare 2023 meetings being held in Tel Aviv.

The ENS DAO proposal to sell 10,000 ETH for USDC is set to be executed, having gone through a successful vote.

Visa is reportedly exploring plans to let customers convert crypto assets into fiat currencies.

“The same way that we can convert between dollars in euros on a cross-border transaction, we should be able to convert between digital tokenized dollars and traditional dollars,” Cuy Sheffield said.

At the StarkWare Sessions 2023, Visa's Cuy Sheffield shared the company's vision for digital assets.

Circle's newest reserve report shows $44.5 billion USDC stablecoin assets.

USDC issuer Circle holds a large portion of its reserves in US treasury bonds and holds all reserves off-chain.

The December report signed by the world's seventh largest audit firm has been published

Key Points: Circle, the company behind the USD Coin, has produced an accountant-verified report on its treasury reserve assets, which support more than $44.5 billion in tokens now in circulation. Circle's December 2022 reserve report, which Grant Thornton audited, details the current makeup of the stablecoin issuer's reserve vault.

Circle has released its reserve report for December 2022 highlighting over-collateralized asset holdings currently backing 44.5 billion USDC tokens in circulation.

Leading on-chain data vendor IntoTheBlock shares inspiring 'reversal' statistics for cryptocurrency bulls

Circle said that it failed to go public because the SEC didn't approve its S-4 registration in time.

In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle's USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.” The proposal, submitted on January 9, aims to look for a way MakerDAO could split its treasury allocations and earn yield.

Last year, Circle's ambition to become a publicly traded company through a $9 billion SPAC merger was denied by the United States Securities and Exchange Commission (SEC), the crypto firm declares. Last month, the agreement between Circle and Concord Acquisition was terminated due to market instability following FTX's shutdown.

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Circle's SPAC deal meant to take the USDC issuer public was delayed by the SEC until the agreement expired in December 2022.

Circle's statements at the World Economic Forum: we need to focus on inclusive growth

In the last 24 hrs the star cryptocurrency, Bitcoin has plunged from its crucial support level of $23K. Also it happens to be the second day that Bitcoin is flashing negative marking.

The host of the popular crypto channel Coin Bureau is predicting one US dollar-pegged stablecoin is poised to run the market. Coin Bureau host Guy Turner tells his 2.2 million subscribers that Circle's USD Coin (USDC), the second-largest stablecoin by market cap, is on its way to overtaking Tether's USDT as the world's dominant stablecoin.

USD Coin (USDC) founder Circle attended the World Economic Forum (WEF) to explain “why USDC is a dollar with super powers.” The WEF took place between January 16 and January 20, 2023, in Davos and hosted over 1,500 industry leaders as well as government representatives from around the globe.

The decision opens the way for MakerDAO to earn an estimated 2% annual yield on USDC stablecoin deposits.