Circle's USDC Stablecoin Falls to $0.74 Amid Market Sell-Off Following Bitcoin ETF Doubts
Circle's stablecoin USDC experienced three drops to as low as $0.74 against its trading pair USDT on Binance, before quickly bouncing back to $1, due to a lack of liquidity to maintain its $1 peg. This occurred during a marketwide sell-off triggered by a report suggesting that the SEC may reject spot bitcoin ETF applications this month. The USDC/USDT pair has a skewed 2% market depth on Binance, with $26 million in orders stacked up to $1.02 and $6.1 million in orders stacked down to $0.98, meaning that a sell order larger than $6.1 million would cause the price to fall below $0.98. Over $500 million in derivative positions were liquidated following the report by Matrixport.
Radiant Capital suspends lending market on Arbitrum for further investigation
According to a post by Radiant Capital on X, there have been reports of issues with the newly created native USDC market on Arbitrum. After verification by Radiant developers and the wider Web 3 security community, the Radiant DAO committee has temporarily suspended the lending market on Arbitrum.No action can be taken until the market on Arbitrum is released from suspension. Once the issue is fully resolved, a detailed post-mortem analysis will be released and the Arbitrum protocol will resume normal operation.
USDC circulation increased by 100 million in the past 7 days
According to official data , Circle issued 1.9 billion USDC and redeemed 1.8 billion USDC in the past seven days, increasing the circulation by 100 million USDC. As of December 28th, the total circulation of USDC was 24.8 billion US dollars, with a reserve of 24.9 billion US dollars, including 2.6 billion US dollars in cash, and the Circle Reserve Fund held 22.3 billion US dollars.
Circle cross-chain transfer protocol CCTP is integrated into dYdX Chain
Circle's cross-chain transmission protocol CCTP has been integrated into dYdX Chain, allowing users to transfer USDC on Ethereum, Avalanche or other chains to dYdX Chain via CCTP.
Cryptocurrency firms invest $78 million in political action committee Fairshake to channel support for cryptocurrencies
Cryptocurrency companies have significantly increased their donations to US politicians. Companies such as Coinbase, Circle, and a16z have invested $78 million in Fairshake, a federal super PAC that can receive unlimited funds from corporations and individuals for elections, with the goal of guiding "cryptocurrency-friendly leadership." Coinbase Chief Policy Officer Faryar Shirzad said, "We will do everything we can to depoliticize cryptocurrency." "Our lobbying, grassroots work, and now Fairshake will create space for the public to debate its benefits, rather than our industry being used as a political football by those who do not understand the social benefits of this technology."
The address starting with 0xf8c had 710,000 USDC stolen due to a zero-transfer phishing attack.
According to PeckShield monitoring, an address starting with 0xf8c was hacked in a zero transfer phishing attack and 710,000 USDC was stolen.<br>Phishing address: 0x949D0DbE58c77EEF31eDAB5E476f41E4F5ef861B.
USDC circulation increased by US$300 million in the past week
As of December 21, Circle issued a total of 1.8 billion USDC and redeemed 1.5 billion USDC in seven days, increasing the circulation by 300 million US dollars. The total circulation of USDC is 24.7 billion US dollars, with a reserve of 24.8 billion US dollars, including 2.5 billion US dollars in cash, and Circle Reserve Fund holds 22.3 billion US dollars.
Radiant Capital launches community proposal vote to use native USDC as collateral
Radiant Capital, a multi-chain lending protocol, initiated a community proposal to vote on using native USDC as collateral. The voting will continue until 8:00 PM Eastern Time on December 24th, 2023.
Circle has received conditional registration as a French AMF digital asset service provider
Circle has announced that it has received conditional registration as a digital asset service provider from the French financial market regulator (AMF). In order to further demonstrate the company's commitment to France and the European Union, Circle has also announced the appointment of Coralie Billmann, a senior figure in the payment industry, to lead its licensed business in France. The appointment of Coralie Billmann is still pending approval from regulatory authorities.
Circle Programming Web3 Wallet Platform Open for Public Beta
Circle Developers has announced the public beta launch of its programmable Web3 wallet platform for USDC stablecoin issuer Circle. The platform allows developers and merchants to integrate Circle's programmable wallet and customize it based on the user experience of their application. They can also choose suitable wallet security and control configurations, and build services on the platform for consumers to send, receive, and store cryptocurrencies, including Circle's USDC and NFT.
Circle Euro stablecoin EURC has been listed on the Solana network
According to an official announcement on December 18th, stablecoin issuer Circle announced that its Euro stablecoin EURC has been launched on the Solana network, making Solana the fourth blockchain where EURC can be natively used, along with Avalanche, Ethereum, and Stellar. Developers and users can now build and trade both EURC and USDC on Solana, sending, spending, and storing funds globally in a faster and more cost-effective way.
Circle and Fuze sign MOU
The issuer of the US dollar stablecoin USDC, Circle, has announced the signing of a memorandum of understanding with digital asset infrastructure provider Fuze, aimed at expanding the adoption of USDC stablecoins in the Middle East and North Africa region. The goal is to extend USDC to institutions such as banks, fintech companies, traditional enterprises, and Web3 companies in the relevant regions.
USDC circulation increased by 100 million coins in the past week
According to data from Circle website reported, from December 8th to December 14th, Circle issued about 1.9 billion USDC and redeemed about 1.8 billion USDC, with an increase in circulation of about 100 million. As of December 14th, the circulation of USDC was 24.4 billion, with reserve funds of about 24.5 billion US dollars.
87.5 million USDC transferred from unknown wallet to Binance
According to WhaleAlert monitoring, at 18:54:11 Beijing time, 87,500,000 USDC was transferred from an unknown wallet to Binance.
Coinbase CEO: Coinbase wallet now supports sending USDC on Base instantly
Coinbase CEO Brian Armstrong has stated that the Coinbase wallet now has a simple mode focused on payments. For example, it can support sending USDC for free and instantly on Base globally. We will try to make it the default mode for emerging markets to make it easier for users to use. People can switch to advanced mode at any time.
A whale spent 11.55 million USDC to buy 5,189 stETH
According to Spot On Chain monitoring data, Whale 0x900 purchased 5,189 stETH with 11.55 million USDC at an average price of $2,226 in the past 1.5 hours. It is worth noting that the whale received stable coins from the address 0xd39, which is ultimately linked to Alex Amsel.
50 million USDC were destroyed in USDC Treasury
Whale Alert monitoring shows that at 4:42 AM on December 12th Beijing time, 50 million USDC were destroyed in the USDC Treasury, worth $50,039,999.
USDC circulation has decreased by 100 million coins in the past 7 days, and EURC circulation has decreased by 300,000 coins.
According to data from Circle's official website, Circle issued a total of 1.4 billion USDC and redeemed 1.5 billion USDC in the past seven days, reducing the circulation by 100 million. As of December 7th, the total circulation of USDC was 24.3 billion, with a reserve of 24.4 billion US dollars, including 1.7 billion US dollars in cash, and Circle Reserve Fund held 22.7 billion US dollars. In addition, Circle issued 200,000 EURC and redeemed 500,000 EURC in the past seven days, reducing the circulation by 300,000. As of December 7th, the total circulation of EURC was 51.1 million EURC, with a reserve of 51.2 million euros, all in cash.
Circle: The cross-chain transfer protocol CCTP handles funds exceeding 1 billion USDC
On December 8th, Circle, the issuer of the stablecoin USDC, announced that its cross-chain transfer protocol CCTP has processed a fund scale of over 1 billion USDC. Currently, CCTP supports various blockchains such as Ethereum, Avalanche, Wormhole, OP Mainnet, Base, and Noble.
Circle launches USDC and EURC testnet faucet
According to Jinse Finance, Circle Developers announced on X platform that Circle has launched the USDC stablecoin and the EURC stablecoin testnet faucets and completed the testnet deployment to help users and developers better obtain small amounts of test tokens. Users can now use the faucets on each EVM and non-EVM test network that supports USDC and EURC. The testnet tokens are free and currently support blockchains such as Ethereum, Algorand, Arbitrum, Avalanche, Base, Flow, Hedera, Near, Noble, Optimism, Polygon PoS, Solana, Stellar, Tron, and others.
