Bitcoin
Circle to ‘Cover Any Shortfall’ in USDC Reserves, Sparking Stablecoin Rally
The company plans to use corporate resources to fill the gap, including external capital. Source link
Year: 2023
Market Analysis
Cardano Founder Supports Algorithmic Stablecoin for BTC’s Vision
Cardano founder Charles Hoskinson believes that algorithmic stablecoins would help to achieve Satoshi Nakamoto’s vision for Bitcoin. According to him, banks will always let users down. Hoskinson was reacting to Kraken’s CEO Jesse Powell’s observation that USDT’s […]
Market Analysis
Crypto-Friendly Banks Collapse as Regulatory Pressure Mounts
As the crypto industry continues to grow, it has faced increasing scrutiny from regulators around the world. Recent months have seen the collapse of several high-profile crypto-friendly banks, including FTX, Celsius, and Silvergate. These collapses […]
Bitcoin
Bitcoin Regains $20K After $200M in Crypto Liquidations; Some Traders Brush Off USDC Fears
Other cryptocurrencies did not post similar gains, however, suggesting traders were not taking risks on lesser-known tokens yet. Polygon’s matic (MATIC) was up 1.6% while BNB Coin (BNB) and XRP were up a nominal 2% […]
Market Analysis
South Dakota Governor Vetoes Bill Supporting CBDC Over Crypto
South Dakota governor Kristi Noem has vetoed House Bill 1193. The bill changes the definition of money to exclude cryptocurrencies like Bitcoin and includes support of a central bank digital currencies (CBDC). In a March […]
Market Analysis
No Exposure to Collapsed Silicon Valley Bank
Binance CEO Changpeng ‘CZ’ Zhao said on March 10 that the exchange has no exposure to the embattled U.S. bank Silicon Valley Bank (SVB). The disclosure had become necessary after reports emerged that some crypto […]
Bitcoin
Traders Bet on USD Coin Rebound as USDC Falls to 90 Cents
Some $4 million in USDC futures were liquidated in the past 24 hours, Coinglass data shows. Source link
Regulation
DAI Depegs as Stablecoin Rout Plagues Crypto
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Market Analysis
USDC Depegs Below $0.90, Circle Confirms Exposure to SVB
Crypto investors have flocked to redeem their USD Coin (USDC) holdings after its issuer Circle revealed it held $3.3 billion of its reserves at the failed Silicon Valley Bank (SVB). Concerns about USDC’s reserves emerged […]
Market Analysis
Circle confirms $3.3 billion remain at Silicon Valley Bank
Circle said it failed to remove $3.3 billion from Silicon Valley Bank. SVB is under FDIC receivership following its collapse. USDC depegged following the news, falling 8% to hit lows of $0.91 on Saturday morning. […]