Former Genesis and Gemini Executives Join Web3 Wallet Infrastructure Firm Dfns, Circle Adds Goldman Sachs Veteran to Board
July 1 (Cointime) - Dfns, a Web3 wallet infrastructure and security company, has hired former executives from Genesis and Gemini. John Conneely, who was previously in charge of institutional custody at Genesis, has been appointed as Vice President of Business Development and Sales at Dfns. Noah Cornwell, who was previously Vice President of Engineering at Gemini, has been appointed as Chief Technology Officer at Dfns. Meanwhile, Circle has appointed Craig Broderick, who has worked at Goldman Sachs for 38 years, to its board of directors.
Circle Launches Cross Chain Transfer Protocol (CCTP) on Arbitrum to Boost USDC Movement on Ethereum Layer-2 Scaling Network
June 27 (Cointime) - Circle, a blockchain startup and stablecoin issuer, has launched its Cross Chain Transfer Protocol (CCTP) on Arbitrum to facilitate the movement of USDC stablecoin on the Ethereum Layer-2 scaling network.
Aussie Fintech Stables Launches Asia Pacific's First Virtual Stablecoin Card in Partnership with Mastercard and Circle
June 27 (Cointime) - Aussie Fintech Stables, formerly known as Tiiik, has partnered with Mastercard and Circle to launch Asia Pacific's first virtual stablecoin card. This innovative offering allows users to spend their stablecoin balance securely and seamlessly wherever Mastercard is accepted, whether in stores or online.
USDC added $300 M past week, but Overall Market Cap fell $27.4 billion over the Last 365 Days of the Trend
June 26 (Cointime) -According to the official news, last 7 days Circle issued a total of $900 million USDC, redeemed $600 million USDC, circulation increased by about $300 million; the past 365 days, a total of 129 billion issued, redeemed 156.4 billion, liquidity decreased by 27.4 billion.
After the High-Profile Collapse of Silicon Valley Bank (SVB) in March, the US Government Spent $12.7 Billion To Bail Out the Top 10 Large Institutional Savers in the Banking Crisi
June 26 (Cointime) - The document reveals the names of the firms that were bailed out, along with their total deposits that immensely exceed the $250,000 FDIC protection limit per account.
Circle Was Top Depositor Helped by Government-Backed Guarantee of Silicon Valley Bank
June 23 (Cointime) - According to documents from the Federal Deposit Insurance Corporation (FDIC), Circle, the issuer of the USDC stablecoin, was the top depositor at Silicon Valley Bank with the help of a government-backed guarantee.
Contrasting Treatment of Crypto Companies in the US and Asia Raises Questions about the Future of Crypto in America
Circle has obtained a Major Payment Institution license in Singapore, highlighting the different regulatory approaches towards crypto companies in Asia and the US. While the SEC is taking a tough stance on crypto in the US, Asia is leading the way in shaping the future of finance.
Circle CEO Jeremy Allaire Urges Lawmakers to Pass Stablecoin Legislation to Defend Primacy of US Dollar
Jeremy Allaire, CEO and co-founder of Circle, will use his scheduled testimony at a U.S. House Financial Services Committee Hearing to advocate for the importance of the U.S. dollar and urge lawmakers to pass stablecoin legislation.
Crypto Companies Circle and Kraken Continue Plans for IPO Despite SEC Action Against Coinbase
Despite the recent SEC action against Coinbase, Circle and other crypto companies are still pursuing plans to go public. However, the current environment may pose challenges for most companies looking to do so. Circle's CEO had previously announced plans to become a public company through a merger with a SPAC, but the company did not complete SEC qualification in time. Nonetheless, going public remains a key part of Circle's strategy, as confirmed by a company spokesperson and a recent job posting seeking a corporate counsel to assist with potential SEC processes. Kraken has also hinted at its continued quest to go public in a recent job posting for a senior corporate and securities counsel.
Apple's Metaverse Plans Could Leave Crypto-Based Projects Behind
While the editor remains optimistic about the future of cryptocurrency, they believe that crypto-based metaverse projects such as Decentraland and the Sandbox are doomed to fail. Decentraland currently has fewer than 500 users, and even Facebook's Meta project has not been successful in attracting users.
Circle Announces Native USDC Integration on Arbitrum
Circle announced that USDC is now natively available on Arbitrum, a leading L2 scaling solution for Ethereum. With a Circle Account, businesses can access on/off-ramps for Arbitrum USDC and readily swap USDC across supported chains, avoiding the costs and delays associated with bridging. Developers choose Arbitrum USDC to build on a stable foundation that’s native to Arbitrum and officially supported by Circle.
Circle Hires Former CFTC Chair Heath Tarbert As Top Lawyer
Stablecoin giant Circle announced on Thursday that Heath Tarbert, a former regulator who has held senior positions at Citadel Securities and the World Bank, is joining the company as Chief Legal Officer and Head of Corporate Affairs.
Circle CEO Optimistic About USDC's Competitive Advantage Amidst Regulatory Framework Uncertainty
Circle, the company behind stablecoin USDC, remains optimistic about its prospects despite recent liquidity issues stemming from the Silicon Valley Bank collapse. The company faced massive redemptions in March 2023 due to fear and uncertainty around its reserves in the bank, but quickly transferred its funds to Bank of New York Mellon.
Circle Launches Native USDC on Arbitrum, Replacing Bridged Liquidity
Circle, a stablecoin issuer, announced on Thursday that it will launch USDC natively on Arbitrum, which will become the official version in the Layer 2 ecosystem and replace bridged liquidity. The benefits of native USDC include new support to eliminate bridge withdrawal delays and the possibility for institutional on and off-ramps. The official launch will take place on June 8, and the Ethereum-bridged version of USDC on block explorers will be renamed as "USDC.e." Circle plans to bring Cross-Chain Transfer Protocol to the Layer 2 network after the launch of native USDC.
Circle Ditches U.S. Treasury Bonds from USD Coin Reserves Amid Debt Ceiling Showdown
Circle Internet Financial, the stablecoin issuer, has removed all U.S. Treasury bonds from its USD Coin (USDC) backing reserves as a precautionary measure against the potential fallout from the U.S. debt ceiling showdown. The Circle Reserve Fund, managed by BlackRock, has shifted all of its $24 billion of assets under management to overnight repurchase agreements as of May 30. This is a significant change from the end of April when the fund held over $30 billion in U.S. Treasury bonds. Circle's move is aimed at protecting the $29 billion USDC stablecoin from potential turbulence in the bond market while U.S. lawmakers seek a deal to avert a government default.
KuCoin Ventures and Circle Ventures Linked to Controversial CNH Coin Amidst Chinese Government Cryptocurrency Crackdown
KuCoin Ventures and Circle Ventures, two well-known companies, have been linked to CNH Coin (CNHC), a stablecoin tied to the offshore Chinese yuan. Due to an ongoing investigation in China, this has caused controversy and brought attention to these organizations. The Chinese government is increasing its scrutiny of cryptocurrency, and this has led to a fresh probe into a leading Chinese yuan stablecoin issuer.
Binance Adds New TUSD Trading Pairs As Volume of ADA and LTC Increases
Binance has announced that TrueUSD (TUSD) will have three new trading pairs on the exchange, including Litecoin (LTC), Cardano (ADA), and Binance USD (BUSD).
Circle CEO Jeremy Allaire Says AI Bots Are Engaging With USDC Stablecoin
Jeremy Allaire, CEO of Circle, announced on May 25 that AI bots are engaging with the company's USDC stablecoin. Allaire believes that AI and blockchain are a perfect match and can interact with each other in various ways, such as machine-generated contracts and data provenance.
Circle Launches Euro Coin on Avalanche Platform for More Efficient Cross-Border Transactions
Circle, a stablecoin issuer, has announced the launch of Euro Coin (EUROC) on the Avalanche platform. This move is part of Circle's multi-chain strategy for EUROC and will increase its liquidity and offer users the option to transact in euros alongside its USD-backed stablecoin, USD Coin (USDC).
US Officials Sanction Crypto Wallets Allegedly Tied to North Korean Government on Binance Exchange
The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned several crypto wallets allegedly linked to the North Korean government. The blacklisted wallets, which contained bitcoin, ether, Tether's USDT, and Circle's USDC, were owned by a North Korean citizen named Sang Man Kim and hosted by Binance.
