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.
US Stablecoin Bill Could Establish World's Most Reliable Stablecoin
The Web3 industry in the United States is keeping a close eye on regulatory developments, especially as the Securities and Exchange Commission intensifies its crackdown on cryptocurrency exchanges. Despite this, Corey Then, vice president of global policy at Circle, remains optimistic and believes that U.S. regulatory developments could favor local players. He sees potential in the recently released draft stablecoin bill from the U.S. House Financial Services Committee, which could establish the world's most reliable stablecoin by mandating that stablecoin issuers maintain reserves to back their stablecoins on at least a one-to-one basis. Circle CEO Jeremy Allaire also believes that regulation would benefit the cryptocurrency industry by increasing consumer confidence and sees stablecoin bills as an opportunity to ensure safe access to dollars and decrease transaction costs for consumers.
Stablecoin Issuers Spend Over a Million Dollars Lobbying Lawmakers on Capitol Hill for Regulatory Framework
Stablecoin issuers, including Tether and Circle, have spent over a million dollars lobbying lawmakers on Capitol Hill since the beginning of 2022. This comes as pressure mounts to establish a regulatory framework for dollar-pegged digital assets. Tether has spent around $600,000 on lobbying efforts so far this year, while Circle has spent at least $560,000. The lobbying efforts have focused on educating policymakers on stablecoin and cryptocurrency issues and monitoring cryptocurrency proposals.
Circle's Cross-Chain Transfer Protocol Enables Seamless USDC Transactions and Unifies Liquidity Across Web3 and DEXs
The recent announcement from Circle about the mainnet availability of their Cross-Chain Transfer Protocol (CCTP) is a significant step towards achieving interoperability across different blockchains. This permissionless protocol enables USD Coin (USDC) to flow natively across supported blockchains, providing an unparalleled level of interoperability, security, liquidity, and simplified user experiences.
ParaSpace CEO Denies Allegations of Mismanagement of Recovered Funds in NFT Financialization Protocol
ParaSpace, a nonfungible tokens (NFT) financialization protocol, has been embroiled in controversy after its CEO, founder, and CTO Yubo Ruan was accused of mismanaging funds equaling 2,909 Ether (ETH) recovered through a white-hat interception that occurred on March 18. Ruan has denied any wrongdoing and claims that the allegations are an attempt to force him to step down as CEO.
Circle CEO Jeremy Allaire says firm no longer holds long-term U.S. Treasuries
Circle CEO Jeremy Allaire announced on May 10 that his stablecoin firm no longer holds long-term U.S. Treasuries, specifically those that mature after June 2023. Allaire cited concerns over the U.S. government's ability to pay its debts as the reason for this decision. This comes after U.S. Treasury Secretary Janet Yellen warned that the government could default on its debt in the near future, causing widespread concern. Circle's USDC stablecoin is backed by a variety of assets, including Treasuries, and this move could have significant implications for the company's reserves.
Circle Mints $140 Million USDC for Big Buyer, Ethereum Foundation Transfers 15,000 ETH to Kraken
Circle, the issuer of USDC stablecoin, minted $140 million worth of USDC and transferred it to Coinbase on behalf of a big buyer.
