SVB’s Collapse Shakes the Stablecoin Market: DappRadar Report
Circle suffered a significant blow due to the decline of SVB. Other stablecoins such as TUSD and DAI saw significant supply growth during the same period.
Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation
During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed.
Crypto Morning Briefing: Coinbase Likely To Launch Global Crypto Trading Platform
Binance Converts Its BUSD in SAFU Funds to Other Stablecoins; China’s Fujian Province Has Processed $22bn Worth of Digital Yuan
USDC Stablecoin Sees Massive $3 Billion Outflows in Three Days
The popular stablecoin USD Coin (USDC) has seen outflows of around $3 billion over three days this week, issuer Circle said in a blog post on Thursday.
A Net $3 Billion Was Redeemed From Crypto’s USDC Stablecoin This Week
A net $3 billion was redeemed from USD Coin, crypto’s second-largest stablecoin, from Monday morning through Wednesday in the aftermath of US banking turmoil that buffeted issuer Circle Internet Financial Ltd.
US Bank Crisis Prompts Stablecoin Backer’s Flight to Big Lenders
The crisis roiling smaller and regional US banks has upended plans by the second-biggest stablecoin’s issuer to park money with so-called community lenders — for now at least.
Circle Says Substantially All USDC Minting, Redemption Backlogs Are Resolved After Wild Week
After the weekend’s depegging of the stablecoin, Circle, which issues USDC, has declared that substantially all the minting and redemption backlogs have been resolved.
USDT Climbs to Highest Market Share Since July 2021 Amid Stablecoin Chaos
In a rapid turn of events, Tether’s stablecoin dominance has surged to its highest point in a year and a half, a feat crypto watchers attribute to difficulties surrounding rival stablecoins USDC and BUSD.
Over Two Billion USDC Stablecoin Burnt in Single Day, Data Shows
Over $2.2 billion worth of USD Coin (USDC) was burnt since the start of this week as redemptions crossed $4 billion on Tuesday night. Some 723 million USDC were burnt in a single transaction in early Asian hours on Wednesday, as per The Block, which cited Arkham Intelligence data. Data further shows several other USDC burns took over the place over multiple separate transactions, ranging from $300 million to $600 million. This brought the total burnt value of USDC to over $2.2 billion in a little over a single day. (Coindesk)
National Australia Bank Completes World-First With Cross-Border Stablecoin Transaction
AUDN is NAB's Australian stablecoin, backed one-for-one with the Australian dollar and managed as a liability of the bank. I
