USDC Sees Net Reduction of $800 Million Between April 6 and 13
April 16 (Cointime) - From April 6 to April 13, Circle issued a total of $400 million in USDC and redeemed $1.2 billion in USDC, resulting in a net reduction of approximately $800 million in circulation.
MakerDAO Votes to Keep USDC as the Main Reserve
On March 20, a vote was opened for the MakerDAO community to ‘normalize’ the parameters of the Price Stability Module (PSM). As a result, USDC remained the main reserve asset of PSM.
Sen. Warren, Rep. AOC Ask Circle, BlockFi Why They Banked at SVB
Sen. Elizabeth Warren (D-Mass.) and Congresswoman Alexandria Ocasio-Cortez (D-NY) want to know why crypto companies, like bankrupt crypto lender BlockFi and stablecoin issuer Circle, banked at now-collapsed Silicon Valley Bank.
Coinbase Head of Exchange Exits Company
Vishal Gupta, head of exchange and markets at crypto exchange giant Coinbase, announced that he was leaving Coinbase after serving as the firm’s head of exchange and markets for nearly three years, a position he took up in September 2020.
Bitcoin Dominance Reaches 45% Amid Price Surge and Regulatory Uncertainty
Bitcoin's dominance has reached 45%, its highest level since May 2021, as the cryptocurrency's price has surged 82% since the beginning of January. This increase in dominance is unusual as it typically rises when other crypto prices decrease. Digital asset investment products saw inflows totaling $57 million last week, with bitcoin representing 98% of those inflows.
Senators Question Largest Silicon Valley Bank Depositors on Cozy Relationship with Venture Capitalists
Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez sent letters to 14 of Silicon Valley Bank's largest depositors, including Circle Internet Financial, BILL Holdings, BlockFi, and Eiger BioPharmaceuticals, asking about their connections with the failed bank.
USDC Generates $300 Million in Revenue Through Treasury Bills Despite Declining Market Cap
Despite a declining market cap, USDC, the stablecoin issued by Circle, generated more than $300 million from interest on its treasury bills, according to Messari's data. Circle also generated revenue from USDC transactions, subscriptions, and services, with Bitcoin and Ethereum accounting for a significant portion of the revenue.
Circle's USDC Issuance and Redemption Leads to 1.9 Billion USD Decrease in Circulation
April 9 (Cointime) - Circle has recently issued 600 million USDC and redeemed 2.5 billion USDC within the past seven days, resulting in a net decrease of approximately 1.9 billion USD in circulation.
Circle New Developer Dashboard Supports API Logs and Webhook Subscription Management
The initial launch of the Developer Dashboard introduces two powerful Web3 developer tools: API Logs and Webhook Subscription Management.
Circle's USDC Sees $10B Outflows Since SVB Collapse, Tether Dominance Rises
Circle-backed stablecoin USDC has seen net outflows exceed $10 billion since the collapse of Silicon Valley Bank (SVB) on March 10th. USDC's market cap has fallen by over 42% to $33.2 billion from its all-time high last June, while its rival <a>stablecoin Tether</a> (USDT) has reached its most significant market share since May 2021, representing 60% of all stablecoins in circulation.
