USDC in Circulation Fell Over 10% Since De-peg Event
The stablecoin market has seen significant changes over the past few weeks — including the removal of over 7 billion USDC stablecoins from circulation following the depegging event on March 11.
Scam Warning: Circle Phishing Campaign Promises Fake USDC DeFi Swap
A phishing campaign falsely promising access to a new USDC DeFi trading platform emerged on social media on March 16.
Circle Says Substantially All USDC Minting, Redemption Backlogs Are Resolved After Wild Week
After the weekend’s depegging of the stablecoin, Circle, which issues USDC, has declared that substantially all the minting and redemption backlogs have been resolved.
Crypto Evening Briefing: Cathie Wood's Ark Launches Private Crypto Fund, Raises $16.3 Million
Cathie Wood's Ark Investment has raised more than $16 million for two new private crypto funds as digital assets resume rally despite increasing regulatory pressure.
Tether's Stablecoin Market Cap Now Double USDC After SVB Chaos
Tether’s stablecoin market capitalization swelled to nearly $75 billion on Thursday morning, its highest level since May 2022, data from CoinGecko shows.
Circle ‘Substantially Clears’ Backlog of USDC Redemptions
Circle — the embattled operator of stablecoin USDC — claims to have "cleared substantially all of the backlog of minting and redemption requests for USDC."
Circle Cleared Substantially All of the Backlog of Minting and Redemption Requests for USDC
Circle said it has cleared substantially all of the backlog of minting and redemption requests for USDC as of March 15. Circle expects to restore more capabilities tomorrow.
Circle Cleared All Backlog of Minting and Redemption Requests for USDC
The company has redeemed $3.8 billion worth of USDC and minted $0.8 billion since Monday.
Stablecoin Issuer CNHC Raises $10 Million in Funding Led by KuCoin Ventures
CNHC Group, the issuer of the CNHC stablecoin that is pegged 1:1 to the offshore Chinese yuan, raised $10 million in funding.
Circle Reports $2.9B USDC Redemption and $0.7B USDC Minting
As of March 13, Circle has redeemed $2.9B USDC and minted $0.7B USDC.
Circle Redeemed $2.9B USDC and Minted $0.7B USDC As of March 13
Circle announced the cash portion of the USDC reserve will be held at BNY Mellon, with only limited funds held at transaction banking partners in support of USDC minting and redemption.
Circle CEO: US Government Took Right Path to Protect Financial System
Circle had parked its USD Coin stablecoin, which was supported by $3.3 billion in cash, with SVB.
Circle CEO ‘Able to Access’ $3.3B of USDC’s Reserves at Silicon Valley Bank
Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (SVB).
CFTC’s New Tech Advisory Group Includes Execs From Circle, Paradigm
The Technology Advisory Committee will be joined by executives from IBM, Amazon, CME Group, and Cboe Global Markets. Professors from university law schools, including Cornell, Washington College of Law, and the University of Michigan, have also been named in the list.
Biggest USDC Burn on Record Just Occurred, Net Redemptions Since Friday Reach $4.5B
Circle's stablecoin continues to struggle to win back confidence, and the biggest redemption on record just occurred as $723.5 million was sent to a null address and burnt, according to data via Arkham.
CFTC Adds Execs from Circle, Ava Labs and Fireblocks to Tech Advisory Group
The Commodity Futures Trading Commission (CFTC) has signalled receptiveness to the crypto and blockchain sector after including several executives from the space as part of its new Technology Advisory Committee (TAC). CFTC commissioner and TAC sponsor Christy Goldsmith Romero announced the updated membership via a public statement on March 13, with the inaugural meeting of the new committee set to take place on March 22. The TAC itself was formed in 1999 and aims to assist the CFTC in “identifying and understanding the impacts and implications of technological innovation in financial services and markets.” (Cointelegraph)
Circle’s USDC Stablecoin Continues to See Heavy Redemptions Despite Market Recovery
Massive redemptions for Circle’s USDC stablecoin continued on Monday, March 13, after the weekend panic and de-peg in the stablecoin. As per blockchain researcher Nansen, over $1.74 billion of USDC stablecoins were redeemed on Monday. USDC stablecoin issuer Circle faced a major blow after the Silicon Valley Bank (SVB) announced its shutdown last Friday. Circle had a staggering 43.3 billion of its reserves with SVB which led to a panic among USDC holders. (coingape)
Uniswap Hits ATH of Almost $12B in Trading Volume Amidst USDC Crisis
The decline of centralized entities has worked out well for their decentralized counterparts. Over the weekend, USDC witnessed a significant trading volume on several decentralized exchanges.
Crypto Evening Briefing: Circle Says USDC Operations Unaffected by SVB, Signature Closures
The closure of Silicon Valley Bank and Signature Bank won’t affect Circle’s USDC operations.
Circle Taps Cross River As Banking Partner, Expands Ties With BNY
Circle has revealed that Cross River Bank, a bank recognized for its services to fintech firms like Visa and Coinbase, is now its new commercial banking partner for the production and redemption of USD Coin (USDC) stablecoins.
