November 29, 2022
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Circle Product VP: USDC chain growth a part of ‘multichain’ imaginative and prescient
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Circle Product VP: USDC chain growth a part of ‘multichain’ imaginative and prescient

USD Coin (USDC) issuers Circle have announced that it will soon roll out its stablecoin across five additional networks including Polkadot, Optimism, NEAR, Arbitrum and Cosmos. The firm first dropped the news at the Converge22…

Crypto change large Binance has confirmed it has no plans to “auto-convert” Tether (USDT) to Binance USD (BUSD) in the intervening time, although famous that this “may change.”On Sept. 6, the crypto change stunned the market with the announcement it can stop buying and selling help for U.S. dollar-pegged stablecoin USD Coin (USDC) on its platform, together with USDP Stablecoin (USDP) and TrueUSD (TUSD). Any customers which can be nonetheless holding the three stablecoins on Sept. 29 will start to have their holdings auto-converted to BUSD at a 1:1 ratio over a 24-hour interval.Binance acknowledged that the transfer was a choice to reinforce liquidity and capital effectivity for customers, however notably didn’t make any point out of the most important stablecoin by market cap, Tether USDT. In an announcement to Cointelegraph, a Binance spokesperson confirmed there have been no instant plans to do the identical to USDT, however famous that this might change, stating: “We do not have plans to auto-convert USDT to BUSD as of now, but may change.”The spokesperson additionally confirmed that the auto-conversion and transfer to stop most buying and selling companies for USDC is “not a temporary measure,” and that it “will continue.”Binance CEO Changpeng Zhao (CZ) in a Sept. 6 tweet clarified that the corporate gained’t be de-listing the three stablecoins, however is “just merging all liquidity into one pair,” including that it’s going to supply the “best price, lowest slippage for users.”Binance may even take away the lengthy listing of spot buying and selling asset pairs matched to those stablecoins, with the pairings switching primarily over to BUSD. Users may even must maintain an eye fixed out for using USDC within the change’s staking, financial savings, liquid swaps, and loans, as these companies can be shut down for that asset additionally. The transfer from Binance comes alongside a short lived suspension of Ether (ETH) and Wrapped ETH (wETH) deposits and withdrawals on chosen networks from Sept. 6 till the Ethereum Merge goes via later this month. Related: CZ hits again at claims Binance is a Chinese firmData from Nansen exhibits that Binance has been steadily changing USDC to BUSD since mid August, with roughly $1.5 billion value switching over throughout that point in response to the analytics platform’s CEO Alex Svanevik. Binance has lower than $1B USDC now. pic.twitter.com/Sx4Wjr43V5— Alex Svanevik (@ASvanevik) September 6, 2022 As it stands, Binance now has lower than $1 billion value of USDC on the platform, with round $993.3 million on the time of writing. In comparability, Binance holds a whopping $4.99 billion value of USDT, greater than every other change throughout the globe. Stablecoins on Exchanges: Nansen
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Crypto change large Binance has confirmed it has no plans to “auto-convert” Tether (USDT) to Binance USD (BUSD) in the intervening time, although famous that this “may change.”On Sept. 6, the crypto change stunned the market with the announcement it can stop buying and selling help for U.S. dollar-pegged stablecoin USD Coin (USDC) on its platform, together with USDP Stablecoin (USDP) and TrueUSD (TUSD). Any customers which can be nonetheless holding the three stablecoins on Sept. 29 will start to have their holdings auto-converted to BUSD at a 1:1 ratio over a 24-hour interval.Binance acknowledged that the transfer was a choice to reinforce liquidity and capital effectivity for customers, however notably didn’t make any point out of the most important stablecoin by market cap, Tether USDT. In an announcement to Cointelegraph, a Binance spokesperson confirmed there have been no instant plans to do the identical to USDT, however famous that this might change, stating: “We do not have plans to auto-convert USDT to BUSD as of now, but may change.”The spokesperson additionally confirmed that the auto-conversion and transfer to stop most buying and selling companies for USDC is “not a temporary measure,” and that it “will continue.”Binance CEO Changpeng Zhao (CZ) in a Sept. 6 tweet clarified that the corporate gained’t be de-listing the three stablecoins, however is “just merging all liquidity into one pair,” including that it’s going to supply the “best price, lowest slippage for users.”Binance may even take away the lengthy listing of spot buying and selling asset pairs matched to those stablecoins, with the pairings switching primarily over to BUSD. Users may even must maintain an eye fixed out for using USDC within the change’s staking, financial savings, liquid swaps, and loans, as these companies can be shut down for that asset additionally. The transfer from Binance comes alongside a short lived suspension of Ether (ETH) and Wrapped ETH (wETH) deposits and withdrawals on chosen networks from Sept. 6 till the Ethereum Merge goes via later this month. Related: CZ hits again at claims Binance is a Chinese firmData from Nansen exhibits that Binance has been steadily changing USDC to BUSD since mid August, with roughly $1.5 billion value switching over throughout that point in response to the analytics platform’s CEO Alex Svanevik. Binance has lower than $1B USDC now. pic.twitter.com/Sx4Wjr43V5— Alex Svanevik (@ASvanevik) September 6, 2022 As it stands, Binance now has lower than $1 billion value of USDC on the platform, with round $993.3 million on the time of writing. In comparability, Binance holds a whopping $4.99 billion value of USDT, greater than every other change throughout the globe. Stablecoins on Exchanges: Nansen

Crypto change large Binance has confirmed it has no plans to “auto-convert” Tether (USDT) to Binance USD (BUSD) in the intervening time, although famous that this “may change.” On Sept. 6, the crypto change stunned…

Crypto derivatives alternate Bybit has partnered with stablecoin issuer Circle Internet Financial to develop its suite of spot buying and selling pairs denominated in USD Coin (USDC) — a transfer the corporate says will enhance retail and institutional entry to USDC-settled merchandise. Under the partnership settlement, Bybit will develop its USDC spot pairs to incorporate a number of further cryptocurrencies and make auto conversions between the United States greenback and USDC out there, the corporate disclosed Wednesday. Bybit mentioned it intends to collaborate with Circle on different initiatives to spice up stablecoin and crypto adoption.Currently, Bybit helps round 35 USDC spot pairs, in line with a Circle consultant. A significant U.S. funding financial institution eyes the crypto derivatives market.Goldman Sachs is reportedly making an attempt to onboard a few of its derivatives merchandise into @FTX_Official crypto derivatives choices. https://t.co/c0467Knv9U(Reporting by way of @_prashantjha)— Cointelegraph (@Cointelegraph) June 1, 2022 Bybit started providing USDC choices and perpetual contracts in April of this yr, giving merchants extra methods to hedge in opposition to actions within the spot market. At the time, Bybit CEO Ben Zhou instructed Cointelegraph that the choices rollout was in response to rising consumer demand. On Wednesday, Zhou mentioned the launch of USDC choices had been a hit and that Bybit was seeking to “further develop our working relationship with Circle.”In addition to USDC choices, Bybit plans to make Ether (ETH) and Solana (SOL) choices out there to merchants quickly.Related: Bitcoin derivatives present a insecurity from bullsCircle’s USDC is the world’s second-largest stablecoin with a market capitalization of $52.3 billion, in line with CoinMarketCap. Only Tether’s USDT instructions extra market penetration with a $67.6 billion market cap.Circle launched a full breakdown of its USDC reserves in July for the interval ending June 30, 2022. At the time, about 75.6% of its backing was in short-term U.S. Treasury payments. The the rest of its place was in money deposits at home banks.
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Crypto derivatives alternate Bybit has partnered with stablecoin issuer Circle Internet Financial to develop its suite of spot buying and selling pairs denominated in USD Coin (USDC) — a transfer the corporate says will enhance retail and institutional entry to USDC-settled merchandise. Under the partnership settlement, Bybit will develop its USDC spot pairs to incorporate a number of further cryptocurrencies and make auto conversions between the United States greenback and USDC out there, the corporate disclosed Wednesday. Bybit mentioned it intends to collaborate with Circle on different initiatives to spice up stablecoin and crypto adoption.Currently, Bybit helps round 35 USDC spot pairs, in line with a Circle consultant. A significant U.S. funding financial institution eyes the crypto derivatives market.Goldman Sachs is reportedly making an attempt to onboard a few of its derivatives merchandise into @FTX_Official crypto derivatives choices. https://t.co/c0467Knv9U(Reporting by way of @_prashantjha)— Cointelegraph (@Cointelegraph) June 1, 2022 Bybit started providing USDC choices and perpetual contracts in April of this yr, giving merchants extra methods to hedge in opposition to actions within the spot market. At the time, Bybit CEO Ben Zhou instructed Cointelegraph that the choices rollout was in response to rising consumer demand. On Wednesday, Zhou mentioned the launch of USDC choices had been a hit and that Bybit was seeking to “further develop our working relationship with Circle.”In addition to USDC choices, Bybit plans to make Ether (ETH) and Solana (SOL) choices out there to merchants quickly.Related: Bitcoin derivatives present a insecurity from bullsCircle’s USDC is the world’s second-largest stablecoin with a market capitalization of $52.3 billion, in line with CoinMarketCap. Only Tether’s USDT instructions extra market penetration with a $67.6 billion market cap.Circle launched a full breakdown of its USDC reserves in July for the interval ending June 30, 2022. At the time, about 75.6% of its backing was in short-term U.S. Treasury payments. The the rest of its place was in money deposits at home banks.

Crypto derivatives alternate Bybit has partnered with stablecoin issuer Circle Internet Financial to develop its suite of spot buying and selling pairs denominated in USD Coin (USDC) — a transfer the corporate says will enhance…

Stablecoin issuers maintain extra US debt than Berkshire Hathaway: Report
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Stablecoin issuers maintain extra US debt than Berkshire Hathaway: Report

Stablecoin issuers like Tether (USDT) and Circle have amassed a big share within the United States Treasury market, outperforming main conventional finance gamers. Various stablecoin suppliers collectively held $80 billion value of short-term U.S. authorities…

Circle to ‘fully and solely support Ethereum PoS’
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Circle to ‘fully and solely support Ethereum PoS’

USD Coin (USDC) issuer Circle has revealed that it would fully support the Ethereum (ETH) proof-of-stake (PoS) chain post-merge. The post Circle to ‘fully and solely support Ethereum PoS’ appeared first on CryptoSlate...

Circle freezes blacklisted Tornado Cash sensible contract addresses
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Circle freezes blacklisted Tornado Cash sensible contract addresses

Crypto data aggregator Dune Analytics said that, on Monday, Circle, the issuer of the USD Coin (USDC) stablecoin, froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the…

Circle ‘blacklists’ all Tornado Cash ETH addresses successfully freezing USDC
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Circle ‘blacklists’ all Tornado Cash ETH addresses successfully freezing USDC

Circle’s USDC has “blacklisted” all Ethereum addresses owned by Tornado Cash listed in the US Treasury Department’s sanction against the protocol. The post Circle ‘blacklists’ all Tornado Cash ETH addresses effectively freezing USDC appeared first…

Stablecoin initiatives want collaboration, not competitors: Frax founder
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Stablecoin initiatives want collaboration, not competitors: Frax founder

Stablecoin initiatives have to take a extra collaborative strategy to develop one another’s liquidity and the ecosystem as an entire, says Sam Kazemian, the founding father of Frax Finance. Speaking to Cointelegraph, Kazemian defined that…

Circle CSO lays out coverage rules for stablecoins in US
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Circle CSO lays out coverage rules for stablecoins in US

Dante Disparte, Circle’s chief technique officer and head of world coverage who has beforehand testified at congressional hearings, has known as on United States lawmakers to stability the dangers with creating a regulatory path for…

Circle Internet Financial has launched a full breakdown of its USD Coin (USDC) holdings for the primary time — a transfer designed to supply transparency and instill better belief within the stablecoin issuer. As of June 30, Circle’s $55.7 billion reserves had been comprised of $42.12 billion in short-term United States Treasuries and $13.58 billion in money held at regulated monetary establishments within the nation, the corporate disclosed Thursday. The weighted common maturity of its Treasury property was 43.9 days. “The USDC reserve is held solely in cash and 3-month U.S. Treasuries, held in segregated accounts for the benefit of USDC holders, and is entirely separate from Circle’s operations,” Circle chief monetary officer Jeremy Fox-Geen wrote in an accompanying weblog publish.Circle continues enhancing our transparency and immediately we shared an in depth take a look at the property backing the USDC reserve. https://t.co/1tuaFWZhIO— Circle (@circlepay) July 14, 2022 Circle mentioned the report is the primary month-to-month breakdown of its stablecoin reserves and that it plans to finally present day by day disclosures of its holdings, pending approval from its custodians. USDC has climbed the stablecoin rankings for a lot of 2022 because of the continued rise of decentralized finance and Circle’s ongoing dedication to regulatory readability. According to ConsenSys, the stablecoin’s development has been linked to a constructive market notion that Circle and crypto change Coinbase will “issue USDC appropriately.” Related: BIS Committee and IOSCO concern steering for regulation of stablecoin preparationsCircle is increasing its stablecoin operations past the U.S. greenback, having solely just lately launched a fully-reserved euro token. As Cointelegraph reported, Euro Coin, also called EUROC, shall be totally backed by the frequent forex. Interestingly, the euro just lately fell to parity in opposition to the U.S. greenback for the primary time since 2002.
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Circle Internet Financial has launched a full breakdown of its USD Coin (USDC) holdings for the primary time — a transfer designed to supply transparency and instill better belief within the stablecoin issuer. As of June 30, Circle’s $55.7 billion reserves had been comprised of $42.12 billion in short-term United States Treasuries and $13.58 billion in money held at regulated monetary establishments within the nation, the corporate disclosed Thursday. The weighted common maturity of its Treasury property was 43.9 days. “The USDC reserve is held solely in cash and 3-month U.S. Treasuries, held in segregated accounts for the benefit of USDC holders, and is entirely separate from Circle’s operations,” Circle chief monetary officer Jeremy Fox-Geen wrote in an accompanying weblog publish.Circle continues enhancing our transparency and immediately we shared an in depth take a look at the property backing the USDC reserve. https://t.co/1tuaFWZhIO— Circle (@circlepay) July 14, 2022 Circle mentioned the report is the primary month-to-month breakdown of its stablecoin reserves and that it plans to finally present day by day disclosures of its holdings, pending approval from its custodians. USDC has climbed the stablecoin rankings for a lot of 2022 because of the continued rise of decentralized finance and Circle’s ongoing dedication to regulatory readability. According to ConsenSys, the stablecoin’s development has been linked to a constructive market notion that Circle and crypto change Coinbase will “issue USDC appropriately.” Related: BIS Committee and IOSCO concern steering for regulation of stablecoin preparationsCircle is increasing its stablecoin operations past the U.S. greenback, having solely just lately launched a fully-reserved euro token. As Cointelegraph reported, Euro Coin, also called EUROC, shall be totally backed by the frequent forex. Interestingly, the euro just lately fell to parity in opposition to the U.S. greenback for the primary time since 2002.

Circle Internet Financial has launched a full breakdown of its USD Coin (USDC) holdings for the primary time — a transfer designed to supply transparency and instill better belief within the stablecoin issuer.  As of…