usdc
Coinbase and Circle Add Algorand Blockchain to Multi-Chain USDC Stablecoin Framework—Faster than Ethereum
Coinbase and Circle Centre Consortium have expanded USDC from Ethereum to Algorand’s blockchain as part of its multi-chain USDC framework.
US Government Plans to Use USDC Stablecoin to Offer Foreign Aid in Venezuela
U.S government has tapped Circle’s USDC stablecoin to offer foreign aid in Venezuela through President-elect Juan Guaidó exiled government.
MakerDAO May Onboard USDC as DAI Collateral Support to Combat Mounting Liquidity Risk
The share plunge of the cryptocurrency market has severely hit MakerDAO, the leader in the decentralized finance (DeFi) ecosystem. Last week its market value fell sharply from 889M to $246M which brought together Maker’s developer community who have recently discussed adding support for Circle’s USDC as collateral to hedge against the liquidity risk.
New Money Theory in Action: Circle's USDC Stablecoin
Circle is gearing up for 2020 with a renewed deep focus on stablecoins and the powerful potential they hold for people, enterprises, and governments globally.
USDC on Crypto Exchanges Spike as Tether (USDT) Dominance Falters - What This Means
According to an assessment from Glassnode, the amount of stablecoins being deposited on exchanges is an indication that things are turning bullish for Bitcoin.
Crypto Tax Payments Permitted in Bermuda
Bermuda has started accepting tax payments using Circle's stablecoin known as USD Coin (USDC).
Stablecoin USDC Issuer Circle Launches Verit-based Institutional Digital Identity System
On October 1, Circle, the US dollar stablecoin USDC issuer, announced the launch of an institutional digital identity system based on Verit, an open source framework for the issuance, custody and verification of decentralized identity credentials.
Binance Launches Incentive Campaign for USDC-M Perpetual Contracts
Binance launches a dual-incentive promotional campaign for USDC-margined perpetual contracts, targeting deposits and trading activities to stimulate market engagement and diversify trading options in the crypto futures market.
Circle CEO Expects Yuan-Backed Stablecoins Despite China's Crypto Ban
According to SCMP, despite the stringent ban on cryptocurrencies in mainland China, Jeremy Allaire, the co-founder and CEO of Circle, a leading operator of the USDC stablecoin, foresees a significant role for yuan-backed stablecoins in the global crypto market.
Moneygram Partners with Stellar Blockchain Network to Enable Instant Crypto-To-Fiat Settlements Using USDC Stablecoin
MoneyGram has partnered with Stellar Development Foundation to enable customers to make settlements in different fiat currencies including cryptocurrencies using USDC stablecoin.
Circle Deploys New Pre-Mint Address for USDC on Solana (SOL)
Circle has introduced a new pre-mint address for USDC on the Solana blockchain, streamlining operations in anticipation of the Cross-Chain Transfer Protocol launch.
USDC Issuer Circle to Launch Euro-Backed Stablecoin
The move by Circle to involve in launching its Euro stablecoin is based on user demand and business competition. The use of euro-backed stablecoins is rising in Europe.
Circle Launches Cross-Chain Transfer Protocol for USDC
Circle has released a mainnet protocol allowing users to transfer USDC between Ethereum and Avalanche. The Cross-Chain Transfer Protocol (CCTP) eliminates the need for USDC bridges and aims to reduce fragmentation in the Web3 ecosystem.
Banking Circle Adopts USDC as Currency on its Payment Rails
Banking Circle, an European Union (EU) regulated payments bank has announced that it has integrated the USD Coin (USDC) stablecoin into its payment rail
OKX Adds USDC Spot Trading Pairs
OKX announces the introduction of new USDC trading pairs to support the growing USDC ecosystem.
Binance Pool Expands USDC and FDUSD Payment Options for Cloud Mining
Binance Pool now accepts USDC and FDUSD for cloud mining purchases.
Binance P2P Launches USDC Campaign with Fee Rebates
Binance P2P introduces USDC campaign offering up to 100% maker fee rebates.
ENS Ecosystem Supports Key Open Source Projects with Drips Funding
ENS allocates $50,000 USDC to support essential open-source projects through Drips.
Binance Launches Promotion to Share 20,000 USDC in Token Vouchers
Binance introduces a new promotion where users can share 20,000 USDC in token vouchers by depositing and trading selected AI tokens.
XDEFI Integrates Circle’s CCTP to Enhance USDC Cross-Chain Swaps
XDEFI and Circle's CCTP join forces to make USDC cross-chain swaps more secure and user-friendly, enhancing the overall DeFi experience.
Circle's USDC Achieves MiCA Compliance: Implications for Binance Users
Circle's USDC has been authorized as a MiCA-compliant e-money token, impacting Binance users in the European Economic Area (EEA).
OKX Launches Campaign for Top USD Merchants with Featured Ads Opportunity
OKX announces a new campaign offering top USD merchants a chance to win featured ad spots in USDT and USDC pairs.
Binance Introduces Zero-Fee Promotion for EUR/USDC Trading Pair
Binance announces a zero-fee promotion for EUR/USDC spot trading pairs to celebrate USDC's MiCA compliance in the EEA.
Binance Margin Introduces New USDC Trading Pairs
Binance Margin has announced the addition of new USDC trading pairs on Cross and Isolated Margin, enhancing user trading options.
Binance Offers Up to 7% APR on USDC Flexible Products in Limited-Time Promotion
Binance launches a limited-time promotion for USDC Flexible Products, offering up to 7% APR rewards. Learn about the terms and conditions.
OKX Launches Compound v3 (Arbitrum) USDC Earn Product
OKX introduces Compound v3 (Arbitrum) USDC Earn product, offering users on-chain rewards starting July 3, 2024.
Binance Margin Offers One-Hour Interest Fee Waiver for USDC and Select Cryptocurrencies
Binance Margin announces a one-hour interest fee waiver promotion for borrowing USDC and other cryptocurrencies from July 4 to July 21.
Binance Margin Introduces New USDC Trading Pairs
Binance Margin expands its offerings by adding new USDC trading pairs on Cross and Isolated Margin, enhancing user experience and portfolio diversification.
Binance Launches Ethereum (ETH) Promotion with $40,000 USDC Rewards
Binance introduces a new promotion for Ethereum users, offering $40,000 USDC in rewards for depositing, copying, or trading selected tokens.
Binance Margin Introduces New USDC Trading Pairs
Binance Margin adds new USDC trading pairs on Cross and Isolated Margin, enhancing user trading experience and portfolio diversification.
Polygon (MATIC) CDK Integrates Bridged USDC Standard for Enhanced Stability
Polygon (MATIC) CDK is the first chain development kit to integrate Circle's Bridged USDC Standard, offering seamless upgrades and improved liquidity.
Binance Margin Introduces New USDC Trading Pairs
Binance Margin expands its offerings by adding new USDC trading pairs on Cross and Isolated Margin, enhancing user trading experience.
dYdX Introduces MegaVault: A New USDC Yield Feature
dYdX announces MegaVault, a feature enabling USDC deposits for liquidity provision and yield generation, with automated market-making strategies across various markets.
Binance Offers $100,000 USDC Rewards and Loss Protection for Spot Trading Participants
Binance announces a promotion for new and existing users, offering $100,000 USDC in rewards and loss protection for Spot trading activities.
Circle's Smart Contract Platform Enables Seamless ETH to USDC Swaps
Circle's Smart Contract Platform simplifies ETH to USDC swaps via a smart contract with an SDK for easy deployment and interaction.
How Programmable Wallets Facilitate USDC Payments for Gateways
Circle's Programmable Wallets streamline USDC payments for payment gateways, simplifying blockchain integration and enhancing transaction efficiency.
Circle to Cease USDC Support on Flow Blockchain Amid Network Upgrade
Circle announces the discontinuation of USDC support on the Flow blockchain due to an upcoming network upgrade, effective September 3, 2024.
Binance to Convert Delisted Tokens to USDC by March 2025
Binance announces the conversion of delisted tokens to USDC by March 2025. Users must withdraw impacted tokens by September 1, 2024.
Binance Launches Crypto Lemonade Summer Promotion with 500,000 USDC in Rewards
Binance announces its Crypto Lemonade Summer promotion, offering users a chance to win a share of 500,000 USDC by participating in the referral program.
Binance Futures Announces 30,000 USDC Prize Pool in New Promotions
Binance Futures introduces three promotions with a 30,000 USDC prize pool, offering loss protection for new traders and rewards for trading volume.
Binance Launches Refer2Earn Campaign with 100,000 USDC Reward Pool
Binance introduces a limited-time referral campaign, Refer2Earn, offering up to 1,550 USDC in rewards for eligible users. The total reward pool is 100,000 USDC.
Integrating USDC Payments with Wagmi and Programmable Wallets
Learn how to integrate USDC payments into your e-commerce platform using Wagmi and Circle's Programmable Wallets for seamless and instant transactions.
Binance Affiliates Can Earn Up to 95,000 USDC in New Content Challenge
Binance announces a content challenge campaign for affiliates with rewards up to 95,000 USDC. The campaign runs from August 27 to September 30, 2024.
Ensuro Leverages USDC to Enhance Insurance Accessibility for Underserved Populations
Ensuro, using USDC, is revolutionizing insurance by making it more inclusive and capital efficient, especially for underserved populations.
Binance Launches Convert & Earn Campaign with USDC Rewards
Binance announces a new campaign allowing users to earn USDC rewards by converting digital assets through Binance Pay.
Binance Margin Launches USDC Interest Fee Rebate Promotion
Binance Margin announces a promotion offering 130,000 USDC in interest fee rebates for eligible users who increase their margin trading volume.
Binance Launches Refer2Earn Program with 76,000 USDC in Rewards
Binance announces a limited-time Refer2Earn promotion, offering users in Central and Eastern Europe a chance to win up to 1,500 USDC.
Binance Announces USDC Airdrop for FRONT and SLF Holders
Binance will distribute 1,000,000 USDC to FRONT and SLF holders following the token rebranding to SLF, ensuring user feedback and transparency.
USDC and Cross-Chain Transfer Protocol to Launch on Sui Network
The Sui Network is set to integrate USDC, enhancing DeFi utility and interoperability through increased liquidity and streamlined transactions.
Binance Announces Promotion for Fixed Rate Loans with Prizes Up to 799 USDC
Binance launches a new promotion for its Fixed Rate Loans, offering users the chance to win up to 799 USDC. The campaign runs from September 19 to October 11, 2024.
Binance Offers Up to 104 USDC in Exclusive Promotion for New and Existing Users
Binance has launched a promotion allowing users to earn up to 104 USDC through deposits or crypto purchases. The promotion runs from September 19 to October 17, 2024.
Binance Launches Margin Trading Course with USDC Rewards
Binance introduces a Margin Trading Learn & Earn course with USDC rewards for eligible users, available from September 26 to October 10, 2024.
Circle Provides Guide for Migrating Bridged to Native USDC on Sui Mainnet
Circle has released a comprehensive guide detailing the migration process from bridged USDC to native USDC on the Sui Mainnet, emphasizing best practices and benefits.
USDC Launches on Sui Mainnet, Boosting DeFi Ecosystem
USDC, a major stablecoin, is now available on the Sui Mainnet, enhancing liquidity and value transfer within the DeFi ecosystem as Sui's TVL surpasses $1 billion.
Circle Unveils First Recipients of USDC Grant Program
Circle has announced the initial recipients of its USDC Grant Program, aimed at supporting projects that integrate USDC and leverage Circle's platform capabilities.
Binance to Convert Delisted Tokens to USDC: Impact on VAI, TORN, OMG, and More
Binance announces conversion of delisted tokens to USDC, impacting tokens like VAI, TORN, and OMG. Withdrawals available until October 28, 2024.
Circle Launches Native USDC on Sui Blockchain
Circle has introduced native USDC on the Sui blockchain, enabling seamless access to USDC liquidity without bridging. This development supports Sui's expanding ecosystem of over 85 applications.
Binance Finalizes Conversion of Select Token Balances to USDC
Binance has completed the conversion of several token balances to USDC, affecting users' holdings based on a snapshot taken in April 2024.
Binance Academy Offers $12,000 USDC in Rewards for Completing Beginner Track
Binance Academy launches a new initiative rewarding verified users who complete its beginner track courses with a share of $12,000 USDC in token vouchers and NFT certificates.
Binance Integrates USDC on zkSync Era Network, Enables Transactions
Binance has successfully integrated USDC on the zkSync Era network, allowing users to deposit and withdraw the stablecoin, according to Binance's recent announcement.
USDT, USDC, and FDUSD: A Comparative Analysis of Leading Stablecoins
Explore the key differences and similarities between USDT, USDC, and FDUSD stablecoins, their market impact, and why BNB Chain is the ideal platform for these digital assets.
Binance Offers Up to 50% Yield Boost on USDC with Fixed Rate Loans
Binance introduces a promotional offer for Fixed Rate Loans, giving suppliers up to a 50% yield boost in USDC during the promotion period from November 12 to November 30, 2024.
Binance Offers Up to 2,500 USDC and 30% APR Boost for Dual Investment Subscribers
Binance introduces a promotional offer with up to 2,500 USDC rewards and a 30% APR boost for new Dual Investment subscribers until December 1, 2024.
Binance Introduces Interest-Free Loans for USDT, FDUSD, and USDC
Binance launches a promotion offering up to 7 days of interest-free loans for users borrowing USDT, FDUSD, or USDC through team formation.
Binance Launches Memecoin Battle with $200K USDC Prize Pool
Binance announces a Memecoin competition involving BabyDoge, Dogecoin, DOGS, FLOKI, and NEIRO, offering $200,000 USDC in rewards. Participants can join teams, complete tasks, and compete for the 'Top Dog' title.
Binance Margin Expands with New USDC Trading Pairs
Binance Margin introduces new USDC trading pairs on Cross and Isolated Margin, enhancing portfolio diversification and trading strategy flexibility for users, according to Binance.
Binance Launches Zero-Fee Campaign with 4,000 USDC Prize Pool
Binance introduces a zero-fee campaign for eligible users, offering a chance to share a 4,000 USDC prize pool. Learn about the promotion details and terms.
Sui Bridge Adopts CCTP to Enhance USDC Transfers Across Chains
Sui Bridge integrates Circle's Cross-Chain Transfer Protocol (CCTP) enabling seamless USDC transfers between Sui and eight other blockchains, enhancing interoperability and efficiency.
Wormhole Enhances Cross-Chain USDC Transfers with Circle's Protocol
Wormhole extends support for Circle's Cross-Chain Transfer Protocol, enabling seamless USDC transfers across major blockchains with enhanced liquidity and developer integration.
Binance Introduces New Trading Pairs and Trading Bots Services
Binance announces the launch of new trading pairs and trading bots services to enhance user experience, effective November 22, 2024. The update includes zero fees for FDUSD/USDC pair.
MetaMask Card Launches Holiday Challenge with Exciting Rewards
MetaMask and Linea introduce a #CryptoHolidayChallenge, offering users in Europe, the UK, and Switzerland a chance to win USDC rewards by showcasing their MetaMask Card usage this holiday season.
Binance Expands Trading Options with New Pairs and Bots Services
Binance announces the addition of new trading pairs and trading bots services on its platform, enhancing user experience and expanding trading options.
FV Bank Partners with Circle for Instant USDC Deposits and Conversion
FV Bank, a global digital bank, has partnered with Circle to enable instant and automatic conversion of USD Coin (USDC) into USD upon deposit for a seamless experience.
USDC Issuer Circle Secures $400M Funding from Fidelity and BlackRock
Circle, the company behind USD Coin (USDC), has bagged funding worth $400 million from different players, including Fidelity Management, BlackRock Inc, and Research LLC, signalling traditional finance interest in the crypto space.
Ripple CEO Garlinghouse Foresees Ether ETF Approval, Critiques SEC's Approach
Ripple CEO Brad Garlinghouse predicts the approval of an Ether ETF by the SEC, critiquing the commission's approach under Gary Gensler as a political liability and detrimental to the U.S. economy's growth.
Circle Launches Native USDC on Polygon
Circle has natively integrated USDC on the Polygon PoS network, enabling direct access for users and developers. This move phases out the need for bridged USDC.e, providing a more stable and straightforward means for transactions on the network. The development is anticipated to foster numerous use cases, enhancing the overall ecosystem.
Circle Unable to Withdraw $3.3 Billion from SVB, Causing USDC Sell-Off
Circle, the issuer of USD Coin (USDC), was unable to withdraw $3.3 billion of its $40 billion reserves from Silicon Valley Bank (SVB), leading to a sell-off that caused the stablecoin's value to drop below its $1 peg. Circle initiated a wire transfer to remove the funds from SVB as the FDIC-insured bank was about to shut operations, but the transfer was not wholly processed, leaving $3.3 billion of USDC reserves with SVB. Dante Disparte, Circle's chief strategy officer, warned that SVB's failure could have broader implications for the US economy.
FTX Continues to Move Funds Amid Ongoing Investigations
Addresses associated with FTX and its subsidiary, Alameda Research, have reportedly transferred $145 million in stablecoins to various platforms, as the cryptocurrency exchange faces demands to return funds to different groups of investors amid ongoing investigations and lawsuits.
USDC Holders Panic Sell Amid Solvency Concerns
On March 10, concerns about the solvency of USD Coin (USDC) led several holders to panic sell their holdings and switch to other stablecoins. One user lost over 2 million USDC in a failed attempt to exchange them for Tether (USDT) using KyberSwap's decentralized exchange aggregator. Tron founder Justin Sun reportedly withdrew 82 million USDC and exchanged them for Dai (DAI) using Aave v2, while IOSG Ventures sold 118.73 million USDC for 105.67 million USDT and 2,756 Ether (ETH). The USDC price has since slowly recovered, and Circle, the company behind USDC, disclosed holding $3.3 billion at the Silicon Valley Bank.
Circle Partners with Cross River Bank for USDC Production and Redemption
Circle has partnered with Cross River Bank for USDC production and redemption, as well as expanded relationships with other banking partners like BNY Mellon. The USDC stablecoin recently experienced a peg-breaking incident but has since recovered.
Circle Rolls Out Native USDC on the Celo Blockchain, Expanding Stablecoin Access
Circle has integrated USDC directly onto the Celo blockchain, enabling faster and cheaper transactions with its native stablecoin. This aligns with Circle and Celo's shared mission of increasing financial access.
Binance Ends USDC Transactions on TRC20 Network
Binance will stop supporting USDC transactions on the TRC20 network from April 5, 2024, in response to Circle's policy changes.
Robinhood Lists USDC as First Stablecoin on Trading Platform
Robinhood has adopted the second-largest stablecoin for trading transactions.
Circle's USDC Reserve Exposure and Potential Risks
Circle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent events such as the shutdown of SVB and Silvergate's decision to shut down its crypto bank arm have raised concerns about potential risks for Circle and its stablecoin USDC.
Shiba Inu Shibarium Introduces Wrapped BONE and Hosted Blockscout Explorer
Shibarium has 1 million wallets and near 1 million transactions. It launched a hosted Blockscout explorer and expanded its token bridge to include various tokens. The Wrapped BONE contract has been verified, and Shibarium plans to renounce the Bone contract.
Wormhole Foundation Launches STIP Grant with 1.8M ARB to Boost Arbitrum Ecosystem
The Wormhole Foundation's STIP Grant, funded by a 1.8M ARB grant from Arbitrum DAO, incentivizes USDC migration to Arbitrum to enhance liquidity and network growth.
Breaking: Visa Expands Stablecoin Settlement On Solana
Visa has expanded its stablecoin settlement capabilities, incorporating the Solana blockchain and initiating pilot programs with merchant acquirers Worldpay and Nuvei. The move aims to modernize cross-border money movement by leveraging stablecoins like Circle's USDC. Visa has conducted live pilots, transferring millions of USDC between partners over Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized via VisaNet. The new settlement options enable Visa to send funds on-chain to acquirers like Worldpay and Nuvei, serving various sectors.
Binance-Backed WazirX Exchange to Delist USDC, USDP & TUSD
Indian crypto platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange.
Polkadot Reports Q3 Growth: New Parachains, Staking Metrics, and Technical Upgrades
Polkadot's ecosystem saw significant expansion in Q3 2023, with the addition of five new parachains, a rise in staking metrics, and major technical upgrades. The total volume of staked DOT increased to 663 million, and the platform recorded more than 190 million on-chain events. The quarter also saw the introduction of native USDC and a 20% quarter-on-quarter rise in XCM messages.
Banking crisis could push cryptocurrency regulation into gray area
Circle CEO Jeremy Allaire believes that the ongoing global banking crisis could lead to more uncertainty and gray area in the regulation of cryptocurrencies due to market anxiety over exposure to the US financial system and the risk of a large-scale banking system failure.
MakerDAO Keeps USDC as Primary Collateral for Dai
MakerDAO has voted to keep USDC as the primary collateral for Dai, rejecting a proposal to diversify into GUSD and USDP. The decision was made based on reduced risks from a cascading bank run in the US and USDC's return to a $1 peg.
Cryptocurrency Detective ZachXBT Uncovers Unusual ETH Withdrawals for MTG Cards
ZachXBT's analysis of cryptocurrency transactions involving the withdrawal of over 11,200 ETH, equivalent to $25 million, raises questions about the source and intent of these funds.
Stablecoins Could Bolster U.S. Dollar and Economic Competitiveness: Circle CEO
In a compelling testimony delivered to the House Financial Services Committee, Jeremy Allaire, CEO and Co-Founder of Circle, underlined the significant role stablecoins, such as the U.S. Dollar Coin (USDC), could play in strengthening the global position of the U.S. dollar.
US Draft Bill Proposes Framework for Stablecoins
A new draft bill has been published in the United States proposing a regulatory framework for stablecoins. The bill would put the Federal Reserve in charge of non-bank stablecoin issuers, such as Tether and Circle. Insured depository institutions seeking to issue stablecoins would fall under federal banking agency supervision. The bill also includes a ban on issuing stablecoins not backed by tangible assets and proposes a study on "endogenously collateralized stablecoins."
Vitalik Buterin's USDC Transfer, Market Crash and USDC Depegging
Vitalik Buterin, the co-founder of Ethereum, recently executed a transaction that involved transferring 3,300 USD Coin (USDC) amidst a market downturn. This event coincided with Ethereum's price falling by more than 10%, reaching a low of $2,100, and a significant depegging of USDC by 24% against USDT.
Argentina Fighter Guido Cannetti Accepts Salary in Stablecoin
Argentina athlete Guido Cannetti of the world's leading mixed martial arts competition Ultimate Fighting Championship (UFC) announced that his salary will be paid in full in stablecoin USDC.
Banks increase risks to stablecoins
The death of the Terra ecosystem triggered a bear market in 2022, causing losses in billions, affecting investor sentiment, and intensifying the regulatory spotlight over cryptocurrencies. Recently, Circle's disclosure that Silicon Valley Bank (SVB) did not process its $3.3 billion withdrawal request led to the depegging of its USD Coin (USDC). This event caused Binance CEO CZ to believe that traditional banks are a risk to stablecoins that are usually pegged 1:1 with fiat currencies, like the U.S. dollar.
Circle's Stablecoin USDC Affected by Collapsed Bank
Circle's USDC stablecoin briefly de-pegged after news that $3.3 billion of its cash reserves were stuck with collapsed bank Silicon Valley Bank. USDC's dollar peg has since recovered, but mass redemptions have led to a drop in the stablecoin's market cap by nearly 10% since March 11.
Circle's New APIs Simplify Complex Crypto Concepts For Mass Institutional Adoption
Circle Builds Layers of Simplicity over Complex Crypto Concepts for Business to Trigger Digital Adoption
FIS Worldpay Partners with Circle for Merchant Payment Settlements in USDC Stablecoin
By partnering with Circle, Worldpay will enable merchants to have the ability to receive settlement directly in USDC stablecoin.
Circle Inks Strategy Partnership with Bancorp for USDC Custody
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).
Bentley University Rolls Out Crypto Payment Option for Tuition Fees
To offer students and their families new methods to pay tuition, US-based Bentley University has started accepting crypto payments.
Maple Finance Opens Cash Management Solution to U.S. Investors, Backed by U.S. Treasury Bills
Maple Finance opens Cash Management to U.S. Accredited Investors, offering yield backed by U.S. Treasury bills.
Depegging of USDC and DAI Saves Borrowers $100 Million
The depegging of USD Coin (USDC) and Dai (DAI) from the US dollar resulted in more than $2 billion in loan repayments on decentralized lending protocols Aave and Compound, with borrowers saving a total of over $100 million. USDC and DAI started heading back toward their peg, and repayment activity tapered off in the following days.
Stablecoin USDC Issuer Circle to Apply for U.S. Crypto Banking License
Circle Internet Financial, the second-largest stablecoin USDC issuer, said it is now close to submitting an application to U.S. regulators to operate as a bank.
Former Coinbase CTO Bets $1 Million on Bitcoin Reaching $1 Million in 90 Days
Former Coinbase chief technology officer Balaji Srinivasan has placed a bet worth $1 million on Bitcoin's price reaching $1 million by June 17. Srinivasan accepted the wager from pseudonymous Twitter user James Medlock, who bet $1 million that the United States would not experience hyperinflation.
USDC Enjoys Robust Reserve & Redeemed on 1:1 basis with USD, Says Circle CEO
Jeremy Allaire, the founder and CEO of USDC stablecoin issuer- Circle, shared on Twitter about the firm and how to place in a better position financially, despite the ongoing crypto market meltdown.
Circle Introduces Native USDC on OP Mainnet: What It Means for the Ecosystem
Circle launches native USDC on OP Mainnet, replacing Ethereum bridged liquidity. Collaborating with Optimism, it will be available on Coinbase's Base, Solana, Ethereum, and Mercado Pago.
Circle's USDC Reserves Remain Stuck at SVB, Raises Concerns Over Crypto Stability
Circle's $3.3 billion worth of USDC reserves held at Silicon Valley Bank (SVB) have not been processed, raising concerns over the stability of the cryptocurrency. This follows the disclosure that 20% of Circle's USDC reserves were held in several financial institutions, including the recently bankrupted Silvergate and the now-shuttered SVB. The world of cryptocurrencies has been characterized by volatility, leading to concerns over their stability and reliability as a store of value. One cryptocurrency that has been touted as a more stable alternative to Bitcoin is USD Coin (USDC), a stablecoin that is pegged to the US dollar.
Binance Adds USDC on Its Dual Investment Service
Binance, one of the leading cryptocurrency exchanges, has announced the addition of USDC on its Dual Investment platform. Users can now participate in Buy Low & Sell High products with various USDC pairs, allowing them to earn rewards on popular cryptocurrencies.
Rocket Pool GMC Treasury Considers USDC Diversification to Stabilize $RPL Value
Rocket Pool's GMC plans to convert 20% of monthly inflow payments to USDC starting September, aiming to attract a diverse applicant pool despite challenges in optimal allocation strategy.
Circle Doubles Value to $9B with New Deal with Concord Acquisition Corp
Fintech company Circle Internet Financial has revamped its merger agreement with Concord Acquisition Corp (NYSE:CND) through a special purpose acquisition, doubling its valuation to $9B from the $4.5 billion initially announced in July 2021.
Bybit Launches Futures Contracts Settled in USDC Stablecoin
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.
Binance Integrates USD Coin (USDC) on CELO Network
Binance, one of the leading cryptocurrency exchanges, has successfully completed the integration of USD Coin (USDC) on the CELO network. As a result, users can now deposit and withdraw USDC on Binance's platform.
Circle's USDC Reserve Mishap Leads to Massive Sell-off
Circle's announcement that Silicon Valley Bank failed to transfer $3.3 billion of its USDC reserves led to a significant sell-off, causing the stablecoin to depeg from the U.S. dollar. Investors who tried to cut their losses by exchanging USDC for other stablecoins, such as USDT, faced exorbitant prices.
Circle Launches Circle Research with Perimeter Protocol
Circle launches 'Circle Research' to further technical innovation in crypto, blockchain, and Web3 through open-source research. The initiative's first contribution, Perimeter Protocol, sets a new standard for building on-chain credit markets. Circle releases the Perimeter white paper and public GitHub Repo to advance open protocol transacting with a focus on credit, catering to a wide range of credit scenarios.
Is USDC’s Value Posed to Surpass that of USDT This Year?
As the stablecoin arena gains steam, the supremacy battle between Tether (USDT) and USD Coin (USDC) continues to rage on.
UAE's YallaMarket Now Accepts Crypto Payments
YallaMarket, a grocery delivery startup in the United Arab Emirates, has announced it has started accepting crypto payments for its services.
Circle to Introduce Euro Coin and Cross-Chain Transfer Protocol to Solana in Early 2023
USD coin issuer and digital financial technology firm, Circle, is now set to expand its Euro Coin and its cross-chain transfer protocol to the Solana ecosystem in the first half of 2023.
Circle Plans to Cover USDC Shortfall After SVB Shutdown
Circle, the issuer of the stablecoin USD Coin (USDC), has announced that it will use corporate resources to cover the shortfall on its reserves after Silicon Valley Bank (SVB) was shut down by the California Department of Financial Protection and Innovation. USDC liquidity operations will resume as normal when banks open on Monday, enabling redemption at 1:1 with the US dollar. The stablecoin lost its $1 peg on March 11, trading as low as $0.87, due to the disclosure of $3.3 billion of Circle's reserve held at SVB.
Native USDC Integration on Base Blockchain
Circle plans to launch native USDC on Base blockchain, replacing bridged USDbC liquidity. The token will be fully reserved and redeemable for US dollars, enhancing scalability, transaction speeds, and reduced gas fees.
Circle Taps BNY Mellon to Serve as Custodian for USDC Stablecoin Reserves
The new partnership will mutually benefit Circle and Mellon Bank.
Circle Publishes Inuagural USDC Reserve Treasury Report for June
Co-Founder and CEO of Circle, Jeremy Allaire has announced the release of the company’s first monthly USDC reserve report for the month of June
Bank of America Says Binance to Benefit from Increased Supply of Its Own Stablecoin
BAC has given more clarification on how Binance’s automatic conversion of other stablecoins could impact its business as well as its own BUSD stablecoin.
Moody warns of stablecoin adoption risk
Moody's Investors Service has warned that the recent turmoil in the traditional banking sector and USDC losing its peg could negatively impact stablecoin adoption and increase calls for regulation. The credit rating agency believes that fiat-backed stablecoins like USDC could face new resistance, limiting their stability and potentially causing a run on banks holding Circle's assets, which could lead to the depegging of other stablecoins.
Stripe Launches USDC Payments via Polygon
Stripe has begun providing businesses with the ability to pay their customers in crypto through USDC stablecoin.
Binance to Convert Users’ USDC Into Its Own Stablecoin
Binance said the move aims to improve liquidity and capital efficiency for customers.
Binance Loans Adds AXS, PENDLE, PAXG, RNDR, and USDC to Flexible Rate Options
Binance adds Axie Infinity, PAX Gold, Pendle, Render, and USD Coin to its Flexible Rate Loans offerings, enhancing its financial services suite.
Circle Launches Corporate Account to Support USDC Transactions
Circle has launched a new account service that enables corporate customers to deposit, withdraw, receive and store cryptocurrencies through their account and allow them to settle all payments in USDC stablecoins.
USDC will integrate into Polkadot, NEAR, Base, Cosmos' Noble, and Optimism this September
Circle, the creator of USDC stablecoin, is expanding its reach to six new blockchain ecosystems, including Base, Cosmos via Noble, NEAR, Optimism, and Polkadot, solidifying its market leadership.
MakerDAO Intends to Depeg DAI from USDC
Announcing through Discord, MakerDAO’s founder Rune Christensen revealed that the DeFi protocol might consider de-pegging its native token DAI from stablecoin USD Coin (USDC).
Circle's 2024 USDC Economy Report Reveals Significant Growth in Stablecoin Adoption
Circle's 2024 report on the USDC economy highlights significant growth in stablecoin adoption and usage, with a 59% increase in USDC wallets and over $12 trillion settled in blockchain transactions since its inception.
USD Coin Chief Strategy Officer Twitter Account Hacked
Circle's USD Coin (USDC) stablecoin chief strategy officer Dante Disparte's Twitter account has been hacked, with the account reportedly promoting fake loyalty rewards to long-time users of USDC.
Bit.com Rolls Out USD Perpetual Trading for Diversification Purposes
To eliminate overreliance on a single type of stablecoin, Seychelles-based crypto exchange @Bit.com has rolled out USD perpetual trading, starting with BTC/USD and ETH/USD pairs.
US House Committee to Discuss Stablecoins Regulation
The US House Committee on Financial Services will conduct a hearing on April 19 to evaluate stablecoins’ position as a means of payment and whether the payment ecosystem needs supporting legislation. Circle's chief strategy officer and head of global policy, Dante Disparte, will testify at the hearing, which will focus on various stablecoins and their use in the payments landscape. A draft bill providing a framework for stablecoins in the United States was recently published in the House of Representatives document repository.
US Crypto Crackdown Hurts USD Coin
Circle CEO Jeremy Allaire has blamed the declining market capitalization of USD Coin (USDC) on the cryptocurrency crackdown by US regulators. Allaire cited global concern about the US banking system and regulatory environment as major factors.
Heath Tarbert Joins Circle as Chief Legal Officer and Head of Corporate Affairs
Circle Internet Financial has appointed Heath Tarbert as its new chief legal officer and head of corporate affairs, effective from July 1, 2023.
Ethereum Foundation's 1.7K ETH Sale Signals Potential Price Downturn
The Ethereum Foundation's sale of 1,700 ETH, coupled with pessimistic views from a crypto trading KOL and Mike Alfred, has fueled concerns about Ethereum's financial outlook. These developments may signal a potential downturn in ETH prices.
Circle Launches Programmable Wallets for Developers
Circle has launched Programmable Wallets, a service allowing developers to embed crypto wallets in apps. The blockchain-agnostic tool supports Ethereum, Polygon, and Avalanche.
Circle Has Started Building New Reserve Funds With BlackRock
Circle is building a new reserve with BlackRock for USDC
Circle's USDC Reserve Exposure and Potential Risks
Circle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent events such as the shutdown of SVB and Silvergate's decision to shut down its crypto bank arm have raised concerns about potential risks for Circle and its stablecoin USDC.
Binance.US to Remove Certain Trading Pairs and Pause OTC Trading
Binance.US announced today that it will be making significant changes to its trading structure. The changes, set to take place on June 8, 2023 at 9 a.m. PDT / 12 p.m. EDT, will involve the removal of select Advanced Trading pairs and a pause on their Over-The-Counter (OTC) Trading Portal.
Binance converts remaining $1 billion in Industry Recovery Initiative to native crypto amidst concerns around stablecoins
Binance co-founder and CEO, Changpeng Zhao, announced on March 13 that the exchange will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto amid concerns surrounding stablecoins. This decision was made following the depegging of the USD Coin (USDC) stablecoin caused by the failure of three major crypto-friendly banks - Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank.
Uniswap Labs Announces Bug Bounty Program with Rewards Up to 2.25 Million USDC
Uniswap Labs has launched a Bug Bounty Program to encourage ethical hackers and security researchers to report vulnerabilities in its contracts. Successful disclosures can earn rewards of up to 2,250,000 USDC, targeting Universal Router Contract Code, Permit2 Contract Code, V3 Contract Code, and UniswapX Contract Code.
Checkout.Com Starts Accepting Stablecoins Payment, Providing 24/7 Settlement
Checkout.com has launched offering stablecoins as a payment option for its merchants by using Fireblocks’ new crypto payment technology.
Mastercard Enables USDC Spending in Asia
Mastercard has partnered with Stables to allow retail customers in the Asia-Pacific region to spend and save USDC through its network. Meanwhile, worldwide banking turmoil has not slowed the blending of traditional and decentralized finance (DeFi). Global payment provider Mastercard has expanded its partnership with the Australian stablecoin platform, Stables, to enable retail customers in the Asia-Pacific region to spend and save USDC anywhere Mastercard is accepted. The wallet will accept deposits in several stablecoins, including Tether (USDT) and Binance USD (BUSD), with all deposits automatically converted into USDC. This move comes as worldwide banking turmoil and regulatory crackdowns continue to impact the crypto space.
Circle Formally Refutes Allegations of Illicit Financing and Connections to Justin Sun
Circle denies CfA's allegations of illicit financing and Justin Sun ties, emphasizing regulatory compliance and advocating for stronger stablecoin laws, as clarified by Dante Disparte.
Bitpay Announces the First Large Online International Furniture Brand to Go Live
Beliani, a European online home accessory and furniture seller, has inked a partnership with BitPay, a US-based bitcoin payment service provider, to allow buyers make purchases using cryptocurrencies, such as Bitcoin, Ripple, Ether, and Bitcoin Cash, as well as dollar-pegged stablecoins like USD Coin (USDC). This approach will enable shoppers to save 2-3% on every crypto transaction made compared to other payment methods.
DeFi Protocol Harvest Finance Put Out $100K Bounty After $24M Attack, FARM Token Crashes
Harvest Finance is taking the offensive against an alleged attacker who exploited the DeFi protocols liquidity pools—putting a $100K bounty on the hacker.
Genesis Capital Breaks Previous Quarter Record With 870M in New Loan Originations in Q3
Genesis records rising demand for cash and stablecoins
Binance Reveals Why 30 Trading Pairs Where Removed From Its Exchange Platform
The cryptocurrency exchange giant based in Malta, Binance has been outshining Justin Tron who has been renowned for his high marketing skills.