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Coinbase wants customers to use its own stablecoin USD Coin (USDC) instead of Tether (USDT).

Coinbase (NASDAQ: COIN) has urged its customers to switch from Tether (CRYPTO: USDT) to USD coin (CRYPTO: USDC), billing it as the "most dependable and reputable digital dollar." What Happened: In a blog post on Thursday, Coinbase said that USDC is fully backed with “high-quality reserves.

Let the stablecoin war begin! In a controversial move, leading American exchange Coinbase has urged its users to switch their Tether (USDT) to USD Coins (USDC).

Crypto exchange Coinbase has asked users to switch from Tether (USDT) to Circle's USD Coin (USDC), referring USDC as a “trusted and reputable stablecoin.” While the major reason remains unclear, Coinbase believes events of the past few weeks have made them take the decision to switch to a stablecoin it co-founded in 2018.

Coinbase highlights questions about Tether reserves in campaign to get users over to USDC

America's largest crypto exchange, Coinbase, doesn't want its customers to use the Tether stablecoin. It's instead offering incentives on its own stablecoin, USDC.

USDC stablecoin could get indirect access to the Federal Reserve's risk-free liability, as its partner BlackRock is set to apply for the Fed's reserve repo (RRP) program. The post USDC could get access to Fed's RRP via BlackRock partnership appeared first on CryptoSlate.

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Circle, the company behind stablecoin USDC, has terminated its agreement with special-purpose acquisition company Concord Acquisition Corp., thereby stepping back from its plan to go public. The stablecoin issuer had announced plans to go public in July 2021, with a valuation of $4.5 billion.

Circle, the US financial services firm behind the stablecoin USDC, has changed its mind about seeking a public listing in the near future, and now says it will stay focused on building “a long-term public company.”

The company planned to go public via a SPAC merger with Concord Acquisition Corp.

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Amid the current crypto winter and overall bearish sentiment, stablecoin issuer Circle decided not to pursue any further SPAC merge plans for going public.

Merger with Concord failed, but stock market listing for Circle remains a strategic goal

The crypto winter has now chilled all manner of digital currency activities, including an IPO. FinTech Circle, which issues USDC stablecoins, said in an announcement Monday (Nov. 5) that it would no longer go public through a proposed business combination with SPAC Concord Acquisition Corp.

The firm behind the second largest stablecoin by market cap is backing out of a multi-billion dollar deal to go public. According to an official announcement, Circle and Concord Acquisition Corp are mutually terminating a proposed business deal between the two groups. Concord Acquisition Corp is a publicly traded special purpose acquisition company.

In a regulatory filing in mid-November, Circle noted that due to the collapse of FTX and the automatic conversions of USD Coins on Binance, its performance would be materially lower than it had previously projected.

The mutual termination comes after over a year and a half of deliberating around the terms of Circle's potential multibillion-dollar listing.

The deal previously valued Circle at $4.5 billion in July 2021 before an upwards revision to $9 billion in February 2022.

Circle announced it has come to a mutual agreement with Concord to terminate acquisition plans The deal was initially announced in July 2021 and would have allowed Circle to go public Circle CEO assured that the company still plans to go public but there was no mention of when and how USDC stablecoin issuer –

The development means that Circle will not go public by acquiring Concord as previously planned. Circle said the deal did not go through because they could not meet a key SEC deadline.

Circle SPAC Termination News: Circle Internet Financial, the company behind stablecoin USDC, on Monday officially announced it was terminating its special purpose acquisition company (SPAC) with Concord Acquisition. The business combination was proposed with an initial announcement in July 2021.

Uniswap gives the ability to trade tokens and NFTs in one place

The decentralized exchange announced non fungible token trading on Wednesday months after buying Genie, a major NFT aggregator.