The stability of a banking system is essential to the global financial system and the operations of every fiat-backed stablecoin. The recent failures of Signature Bank and Silicon Valley Bank have cau...
Tag: Circle
Circle CEO: $3.3 Billion stuck at SVB may be recoverable
Circle CEO Jeremy Allaire confirmed that the firm has accessed the funds stuck at Silicon Valley Bank Allaire believes the $3.3 billion stuck in SVB will be fully recovered Jeremy Allaire, the co-foun...
Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank
Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (...
Circle USDC Rebounds From De-Pegging, but Stablecoin Observers See an Uncertain Future
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CFTC’s New Tech Advisory Group Includes Execs From Circle, Paradigm
The Commodity Futures Trading Commission (CFTC) announced the addition of key industry members to the newly constituted Technology Advisory Committee (TAC). The official press release stated that the ...
SVB Collapse Meant Protecting ‘a Digital Dollar From the Banking System’: Circle CEO
In a recent interview, Circle’s CEO pointed out the irony of a traditional bank disrupting the wider crypto industry. “We are really trying to make sure that we’ve got the most solid infrastruct...
Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche, Ripple
As the fallout from the stunning collapse of Silicon Valley Bank (SVB) plays out, numerous crypto companies have signaled their exposure to the bank, which long maintained a reputation as one of the m...
Why Did USDC Depeg? Circle CEO Gives the Inside Story
Circle CEO Jeremy Allaire spoke on Tuesday recapping the Silicon Valley Bank (SVB) and USDC drama from his company’s perspective. According to Allaire, all of the company’s cash reserves are now stor...
Circle Accessed USDC Reserves In SVB This Week; Crypto News
Circle USDC News: In the wake of the devastating effect the failure of Silicon Valley Bank and Signature Bank had on the US markets, Circle CEO Jeremy Allaire gave the latest update on the state of af...
CFTC adds execs from Circle, Ava Labs and Fireblocks to tech advisory group
The Commodity Futures Trading Commission (CFTC) has signaled receptiveness to the crypto and blockchain sector after including several executives from the space as part of its new Technology Advisory ...
CFTC Names Executives From Circle, TRM, Fireblocks Among Others to New Tech Advisory Group
“To protect our markets from increasingly-sophisticated cyber attacks, to ensure responsible development of digital assets in a way that protects customers, and to ensure that the implications o...
Recent contagion was ‘TradFi to crypto’ and not vice versa — Circle policy director
Caroline Hill, the director of global policy and regulatory strategy for stablecoin issuer Circle, has placed some of the blame from the recent collapse of banks tied to crypto on traditional financia...
Circle Reassures Customers Riding on Promises from Federal Regulators
According to Circle, the bulk of its reserve for the USDC stablecoin is domiciled in US Treasury Bills. Crypto startup Circle, the issuer of the USD Coin (USDC) stablecoin has announced that the USDC ...
Circle Mints $407,000,000 Worth of USDC as Stablecoin Recovers From Depegging Incident: Nansen
Circle has minted hundreds of millions of dollars worth of US Dollar Coin (UDSC) as the second-largest stablecoin by market cap recovers from its recent depegging from the dollar. USDC, a stablecoin d...
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits – Bitcoin News
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statemen...
Circle Partners with Cross River Bank for USDC Production and Redemption
Circle, a leading global crypto finance company, has announced that it has partnered with Cross River Bank for producing and redeeming USD Coin (USDC), its flagship stablecoin pegged to the US dollar....
Circle Begins USDC Redemptions as It Burns 314 million USDC: On-Chain Data
Following the unexpected collapse of Silicon Valley Bank on Friday, there were inquiries regarding the vulnerability of Circle, one of the leading companies in the crypto industry and the issuer of th...
Circle Boasts New Banking Partner To Calm Markets After USDC Depeg
After losing its dollar peg over a tumultuous weekend for crypto, USDC issuer Circle says its reserves are safe and sound, and it’s moving on to a new banking partner: Cross River Bank. After a ...
Crypto Prices Rebound As Regulators Step In Over Silicon Valley Bank Collapse
Topline The value of tokens like bitcoin and ether rallied on Monday after hitting weeks-long lows on Friday, part of a broader rally in cryptocurrency prices as markets react to the widening fallout ...
Circle partners with Cross River as other banks collapsed
Circle has partnered with Cross River as regulators shut down Silicon Valley Bank and Signature. The partnership ensures that USDC maintains its 1:1 peg to the US dollar. Circle, one of the largest st...
Top Stablecoins Flirt With USD Peg After Crashing to All-Time Lows
Circle’s USDC and other stablecoins are still struggling to return to their US dollar peg after collapsing over the weekend in response to a spate of crypto bank failures. USDC was trading at under $0...
USDC nearly regains $1 peg after Circle says SVB deposit is available
In this photo illustration, a woman holds a smartphone with the USD Coin (USDC) logo displayed on the screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images USD Coin (USDC) came close to r...
Circle Reserves worth $3.3B at SVB to be ‘fully available’ soon
$3.3B in USDC reserve deposits held at the failed SVB will be fully recovered when banks reopen in the U.S Circle also announced new partnership with the Cross River Bank Popular stablecoin issuer Cir...
Coinbase and Circle cite FDIC to ensure fund recovery
Signature Bank and then Silicon Valley Bank, the traditional banking system, is experiencing one of the worst hit crises that have left customers wondering if they will ever get their funds back. For ...
Circle Has $3.3B SIVB Exposure, Crypto Daily TV 13/3/2023 $USDC
In Todays Headline TV CryptoDaily News: BTC rises on govt. plan to protect all SVB depositors. The price of bitcoin rose above $21,400 after the Washington Post reported that U.S. federal authorities ...
Circle Business Operations to Resume Monday Morning: CEO
Godfrey Benjamin Jeremy Allaire assured investors of safety of their funds amid SVB chaos After almost a week of turmoil, Jeremy Allaire, the chief executive officer (CEO) of USDC stablecoin issuer Ci...
Circle CEO Assures 100% Safety of USDC Reserves, Transfer Resumes
Jeremy Allaire tweeted that the company’s 100% USDC reserves are safe, in reference to the SVB collapse. Circle’s CEO assured that the company would transfer the remaining SVB cash to BNY Mellon. He a...
Will Circle be Able to Restore Stability to USDC After Signature Bank Failure?
Circle, a leading player in the crypto industry, has been impacted by the recent failures of Silicon Valley Bank and Signature Bank. The collapse of Signature Bank, a critical financial institution fo...
The Block: Circle USDC operations will resume when U.S. banks open Monday: CEO Allaire
Circle USDC reserves are “safe and secure” and liquidity operations will resume when U.S. banks open Monday, CEO Jeremy Allaire said on Twitter. “We were heartened to see the U...