Cointime

Cointime

Download App
iOS & Android
Home / JUST IN

USDC’s Dollar Peg Fumbles, Coinbase Pauses USDC:USD Conversions

Amid the ultra-high volatility currently in the USDC stablecoin, crypto exchange Coinbase has announced the decision of suspending USDC: USD conversions for the weekend. In its latest Twitter post, Binance wrote:

We are temporarily pausing USDC:USD conversions over the weekend while banks are closed. During periods of heightened activity, conversions rely on USD transfers from the banks that clear during normal banking hours. When banks open on Monday, we plan to re-commence conversions. Your assets remain safe & available for on-chain sends.

Coinbase
Comments

All Comments

Recommended for you

  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts
  • Cointime精选 ·

    Coinbase Takes Aim at CFTC's Definition of 'Gaming' in Proposed Prediction Market Rules

    Coinbase argues the definition is vague, and urges the CFTC to make determinations on a contract-by-contract basis rather than broad categorization
    Coinbase Takes Aim at CFTC's Definition of 'Gaming' in Proposed Prediction Market Rules

  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

  • Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

    According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.

  • Trump team files complaint over Harris inheriting $96 million in Biden campaign funds

    According to reports from foreign media, the Trump campaign team has filed a complaint with the Federal Election Commission, claiming that Biden's transfer of $96 million in campaign funds to Harris is illegal. David Warrington, a lawyer for the Trump campaign team, said that this was a "shameless money-grabbing act" and would constitute the largest excessive donation and most serious violation in the history of the Federal Election Law. Shortly after Biden withdrew from the election and appointed Harris as his preferred successor, she took over Biden's campaign committee's bank account. Steve Roberts, a lawyer who represented Republican candidates, said that the argument against the transfer was a "wishful thinking" of his Republican colleagues. The Harris campaign team said that this complaint would not affect its fundraising or spending.

  • Donald Trump Plans to Release Fourth NFT Collection, Embraces Crypto Industry

    Former US President Donald Trump is reportedly planning to release a fourth NFT collection, as he continues to embrace the crypto industry. In a recent interview with Bloomberg Businessweek, Trump stated that his previous NFT collections were "very successful" and sold out in a day. He also revealed that he plans to release another collection, as his supporters are demanding it. Trump's campaign has also started accepting crypto donations, and he has been vocal about the importance of the US not falling behind China in the crypto industry.

  • Coinbase Chief Legal Officer: US SEC blocks Coinbase’s request to disclose Gary Gensler’s communication documents

    Paul Grewal.eth, the Chief Legal Officer of Coinbase, wrote on the X platform that the issues of Chevron and Binance's secondary sales have been clarified, but in Coinbase's lawsuit, the U.S. Securities and Exchange Commission (SEC) has prevented Coinbase from requesting the disclosure of Gary Gensler's communication documents. In March 2021, Gary Gensler told the U.S. Congress that the SEC lacked regulatory authority over digital asset exchanges, confirming the long-held belief among market participants that digital asset trading on these exchanges is not within the jurisdiction of securities law. Coinbase has requested that Gary Gensler provide documents related to these communications because they are related to how the SEC's enforcement actions violate the due process requirements of the Constitution, but the SEC and Gary Gensler are trying to prevent the disclosure of these documents.

  • Crypto Industry Disappointed as Digital Assets Fail to Make an Appearance in First 2024 US Presidential Debate

    Despite hopes from industry participants, the topic of crypto was not discussed during the first general debate of the 2024 U.S. presidential election between Joe Biden and Donald Trump. The debate, hosted by CNN, primarily focused on the economy, with brief mentions of other issues such as abortion, immigration, and foreign policy. While crypto has been a talking point throughout the election cycle, neither candidate made any significant statements about it during the debate. The crypto industry is hoping for a Congress and administration that will pass legislation friendly to digital asset businesses, and is looking to repeat the massive spending on elections from 2022.

  • The listing of spot ETFs has caused Coinbase's Bitcoin reserves to decline rapidly since February

    CryptoQuant disclosed on X platform that the listing of Bitcoin spot ETF caused the Bitcoin reserves of Coinbase exchange to rapidly decline since February. Data shows that on February 18, 2024, Coinbase's Bitcoin reserves were about 1,044,997 BTC, but now this indicator has decreased to 878,000 BTC, a decrease of about 167,000 BTC.

  • Cointime May 25 News Express

    1. British media: 61,000 Bitcoins in Qian Zhimin case may belong to British police and Home Office

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company