Circle’s stablecoin continues to struggle to win back confidence, and the biggest redemption on record just occurred as $723.5 million was sent to a null address and burnt, according to data via...
Tag: Redemptions
USDC Massive Redemptions Continue, Tether’s USDT Benefits
Massive redemptions for Circle’s USDC stablecoin continued on Monday, March 13, after the weekend panic and de-peg in the stablecoin. As per blockchain researcher Nansen, over $1.74 billion of USDC st...
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...
314M USDC sent to null address as redemptions begin: Report
According to Web3 analytics platform Watchers, a total of 314.167 million USD Coin (USDC) was sent by its issuer, Circle, to the Ethereum null address with header 0x00 on March 13. The null address is...
Circle’s USDC Redemptions Reaches $2.5B, Exchange Inflow $7B
USDC Redemptions. Source: CryptoQuant Moreover, Ki Young Ju believes the USDC situation is completely different from the TerraUSD (UST) collapse. The Luna Foundation Guard sent billions in BTC to cryp...
FTX Sues Grayscale for $250 Million for Preventing Redemptions
Bankrupt proprietary trading firm Alameda Research has sued Grayscale for reducing the value of FTX Debtors’ shares in its Bitcoin and Ethereum Trusts. Alameda alleges that the firm reduced the value ...
A-Rod’s SPAC Is the Latest to Be Hit by Investor Redemptions
(Bloomberg) — A blank-check company led by former New York Yankee Alex Rodriguez became the latest firm to be rocked by investors opting to swap their stock for cash as the industry fizzles. Mos...
684 million BUSD burned for redemptions amid US regulatory scrutiny
Just over a day after it categorically denied regulator claims Binance USD (BUSD) is a security, Paxos has burned some 684 million of the stablecoin for U.S. dollar redemptions, on-chain data show. &#...
Binance USD (BUSD) Redemptions Surge to $360M as Investors Panic
Paxos, the issuer of the Binance stablecoin BUSD has announced that it will no longer mint the dollar-pegged asset from Feb. 21. The move came in response to an SEC threat of legal action, accusing th...
BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert – Bitcoin News
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been r...
More Than $2 Billion in USDC Redemptions in 30 Days – Altcoins Bitcoin News
It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulatio...
Crypto Lending Firm Genesis Global Halts Redemptions
Genesis Global Capital – a crypto lending company – has suspended all redemptions and related activity as it’s now one of the latest firms to be feeling the heat and buzz caused by the collapse of FTX...
Why Biden’s 4% buyback tax could boost stock prices and dividends
The Biden administration’s new stock buyback tax will have little impact on the overall stock market. It might even actually help it. I’m referring to the new 1% excise tax on share repurchases that w...