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Just before midnight UTC on Tuesday (November 1), crypto derivatives exchange Deribit was hacked, and $28 million in $BTC, $ETH, and $USDC were stolen. That was the bad news. The good news is that “client funds are safe and loss is covered by company reserves.
Volatility is one of the distinguishing attributes of the crypto market that springs surprises in several observers. It creates a desirable environment for traders and investors in the crypto industry to advance with huge profits.
Special purpose acquisition company Concord Acquisition Group plans to further delay USDC issuer Circle's acquisition to January 2023. Circle's CEO Jeremy Allaire earlier confirmed plans to go public in Q4 2022 after closing the acquisition deal.
After last week's strong market rally, the cryptocurrency market has taken a bit of pause holding above the $1 trillion valuation. To understand what could be the market activity ahead, it will be crucial to spot the activity of stablecoins like USDT and USDC.
Tether Limited issues the USDT stablecoin. The platform first issued a dollar-backed cryptocurrency known as Realcoin in 2014.
The second largest stablecoin in the world, it will be available in 13 different blockchain ecosystems.
FTX boss Sam Bankman Fried has shared the company's vision of developing a stablecoin. The FTX CEO was on an interview with The Big Whale, where he gave an insight into the company's vision for designing the asset.
According to a recent report, crypto lending company (Celsius) might have relief as the USDC court series motions were rejected, more than $53 million were found from insider conducted withdrawals, and the Ethereum APR rates increased, due to which Celsius
The top US crypto exchange Coinbase is partnering with MakerDAO in a custody deal nearly doubling the exchange's US Dollar Coin (USDC) holdings. Under the agreement, MakerDAO, the decentralized autonomous organization (DAO) behind the stablecoin DAI, will deposit up to $1.6 billion of its USDC holdings with Coinbase Prime.
The extended bearish trend caused panic and massive sell-offs in the crypto space. But it seems that the industry still records progressive moves.
Polygon-bridged cryptocurrencies like Ether, USDC, DAI and Wrapped Bitcoin are coming to BitPay later this week.
Since the Tornado Cash affair, Circle's USDC stablecoin's market valuation has fallen precipitously. The market capitalization of USD Coin (USDC), which fell from $53.3 billion to just under $43.9 billion during the previous month, has decreased by almost 20%.
Since the Tornado Cash affair, Circle's USDC stablecoin's market valuation has fallen precipitously. The market capitalization of USD Coin (USDC), which fell from $53.3 billion to just under $43.9 billion during the previous month, has decreased by almost 20%.
In the crypto winter, even some stablecoins suffer. Circle's USDC has lost billions of dollars of capitalization in a couple of weeks.
MakerDAO (MKR), the decentralized organization that manages the stablecoin DAI, will move $1.6bn of its USD Coin (USDC) reserves to Coinbase to earn a yield of up to 1.5%.
The MakerDAO community will earn a 1.5% reward on its USDC while holding funds with Coinbase Prime.
MakerDAO, the community behind the DAI (CRYPTO: DAI) stablecoin, just passed two Maker Improvement Proposals, MIP 81 and MIP 82. What Happened: The MIP 81 will send $1.6 billion worth of MakerDAO's USDC to Coinbase Global Inc (NASDAQ: COIN), for its institutional rewards pilot program.
The MakerDAO community has approved a proposal that will see the crypto protocol custody as much as $1.6 billion USD Coin (USDC) with cryptocurrency exchange Coinbase. The USDC will be held via Coinbase's institutional custody platform Coinbase Prime, and offer a yield of 1.
Coinbase's institutional-grade service will allow MakerDAO to earn up to 1.5% of the rewards of the funds.
Leading cryptocurrency exchange Coinbase announced Monday the launch of its institutional rewards program in partnership with stablecoin issuer MakerDAO. Coinbase to Custody $1.6 Billion USDC The exchange disclosed that MakerDAO community members accepted its proposal to the custody of $1.6 billion USDC stablecoin pegged 1:1 to the value of the U.S dollar with Coinbase Prime, designed to provide institutional and corporate solutions to specific customers.
America's largest cryptocurrency exchange Coinbase has entered into a partnership with decentralized finance lending protocol MakerDAO to custody a large amount of USDC.
The MakerDAO pilot will run through the end of 2022 before the community needs to vote on whether to keep its USDC with Coinbase next year.
The MakerDAO community has approved a proposal by Coinbase to custody up to $1.6 billion USDC with the Prime reward program. The post Coinbase to custody up to $1.6B USDC for MakerDAO appeared first on CryptoSlate.
Up to $1.6 billion in USD Coin will be custodied with Coinbase Prime, where it will earn a 1.5% reward.
