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 (...
Tag: Reserves
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...
USDC stablecoin: reserves are safe
Circle, the prominent cryptocurrency company, and its CEO recently made a statement that gave the community much-needed certainty: all USDC stablecoin reserves are safe. According to the data, Circle ...
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...
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...
100% Of USDC Reserves Are Safe As U.S. Gov’t Bails Out Silicon Valley Bank
The financial sector has endured a few chaotic days. In particular, for USDC stablecoin and Silicon Valley Bank and its stakeholders, since the lender swung from being presumed robust and profitable t...
Circle reveals $3.3 billion in USDC reserves remain at insolvent Silicon Valley Bank – Cryptopolitan
Concerns are rising within the cryptocurrency industry following the revelation that $3.3 billion of the approximately $40 billion in USDC reserves remain at Silicon Valley Bank (SVB). This news comes...
Circle’s USDC Reserves Remain Stuck at SVB, Raises Concerns Over Crypto Stability
Circle is one of the leading issuers of USDC, and the company has been on a mission to make it the preferred stablecoin in the cryptocurrency space. However, recent developments have raised concerns o...
Circle says $3.3 billion of USDC reserves are with Silicon Valley Bank
Circle, the crypto payments firm behind stablecoin USDC, confirmed late Friday evening that $3.3 billion of the cash backing its coin remain with Silicon Valley Bank. Circle, which had early tw...
Circle’s USDC Reserves In Hot Water As Records Show Exposure To Silicon Valley Bank
On Friday, the prominent Silicon Valley Bank, which served as the go-to bank for venture capitalists and startups, got shuttered down by the California Department of Financial Protection. Although not...
Bitcoin miner reserves drops, bearish signs emerge
The quantity of Bitcoin (BTC) held in reserve by mining companies has reached lows last seen in October 2022. Miner reserves important in bitcoin market According to on-chain analytics company Crypto...
Bitcoin Miner Reserves Fall to Yearly Lows, BTC Selloff Continues
Bitcoin miner reserves are shrinking as miners sell more of the asset to cover their expenses, according to on-chain analysis. The amount of Bitcoin held by miners has been in decline this year, with ...
Binance Adds 11 New Tokens to Proof of Reserves for Enhanced Security – Cryptopolitan
Binance, the world’s largest crypto exchange, has recently added 11 new cryptocurrencies to its Proof-of-Reserves (PoR) system, bringing the total to 24 different assets. These new tokens include popu...
Exchange Adds 11 New Tokens To Its Proof Of Reserves
Binance News: The world’s largest crypto exchange by market share, Binance, has recently updated its Proof-of-Reserves (PoR) system to add 11 new cryptocurrencies. These include the likes of 1inch (1...
Binance’s PoR system shows over $63B in reserves backing 24 assets
Ad Binance, one of the world’s largest crypto exchanges, updated its proof-of-reserves (PoR) system to include 11 new tokens. These include Mask Network (MASK), Dogecoin (DOGE), Curve DAO Token (CRV),...
Binance adds 11 tokens to PoR, claims $63B in reserves
According to an announcement on Mar. 7, cryptocurrency exchange Binance has added an additional 11 tokens to its proof-of-reserves (PoR) report. These include MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP...
Citizens Trust Bank Holds $65 Million in USD Coin reserves
Citizens Trust Bank, a financial institution that is regulated by the Federal Deposit Insurance Corporation (FDIC), has partnered with Circle Internet Financial to hold some of its reserves in USD Coi...
Crypto Sets Higher Standards for Proof of Reserves for Traditional Finance: Bybit CEO
The new norms after 2022: crypto exchanges have set a high bar in transparency with 100% verifiable proof of reserves DEXs form an important part of a healthy ecosystem by supporting medium and long-t...
Bybit CEO Advocates for Higher Standards of Proof of Reserves, Bridging the Gap Between Crypto and Traditional Finance – Cryptopolitan
The world of cryptocurrency is rapidly evolving. As the asset class continues to mature, investors are increasingly looking for ways to protect their funds and ensure transparency within exchanges. Re...
Shiba Inu Surpasses USDC in Cryptocom Assets Reserves
Crypto.com Holding Over $685M Worth of SHIB. As per recent data from CoinMarketCap.com, Shiba Inu (SHIB) has overtaken USD-pegged Circle and Coinbase stablecoin USDC to become the third-largest asset ...
6,500,000,000,000 Shiba Inu Worth $81,000,000 in Bankrupt Crypto Lender Voyager Reserves: Analytics Firm
On-chain data shows that trillions of Shiba Inu (SHIB) tokens remain in the reserves of bankrupt crypto lender Voyager. The blockchain-tracking firm Lookonchain says Voyager’s reserves amount to $631 ...
FDIC-insured Citizens Trust Bank to hold $65M in USDC reserves
Citizens Trust Bank, a financial institution regulated by the Federal Deposit Insurance Corporation (FDIC), has partnered with Circle Internet Financial to hold some of its reserves in USD Coin (USDC)...
Citizens Trust Bank To Hold $65 Million in USDC Reserves
2 hours ago | 2 mins read Altcoin News On April 1, 2022, Circle announced that BNY Mellon would be holding USDC reserves. Circle’s USDC stablecoin is the second biggest U.S. dollar-pegged cryptocurren...
US watchdogs issue joint warning to banks over liquidity risks stemming from crypto, stablecoin reserves
Ad U.S. regulators issued a joint statement to banks on Feb. 23 warning of liquidity risks stemming from cryptocurrency-related clients and their deposits, Reuters reported. The letter was issued by t...
Binance Adopts Semi-Automated Process to Manage Token Reserves
Binance has shifted to a semi-automated process to manage the reserves of its tokens. The system ensures that the tokens are pegged correctly, without being mixed with other funds. The system is not f...
Binance Shifts to ‘Semi-Automated’ Process to Manage Reserves of Tokens It Issues
“Per recent media reports, historically, the assets we used to collateralize B-token weren’t always kept in dedicated wallets,” a Binance spokesperson told CoinDesk. The spokesperson said ...
Immutable Reduces Staff by 11% to Prolong its Cash Reserves (Report)
Major Australian gaming firm Immutable slashed 11% of the company’s headcount, stating that the job cut happened in order to ensure cash reserves last for a long time. This is the second time Immutabl...
OKX Releases Fourth Proof of Reserves Report With $8.6B in ‘Clean Assets’
OKX released its fourth monthly Proof of Reserves (PoR) enabling its users to verify that the Seychelles-based crypto exchange holds the amount of cryptocurrency that it claims to. It revealed holding...
OKX Proof of Reserves report shows $8.6B in clean assets
Latest Report The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins The SEC’s notice to Paxos to stop minting BUSD could have longstanding implicatio...
Hacken boosts Binance proof of reserves security
On Feb 14, 2023, Hacken researchers ran tests and identified a bug in the Binance zkSNARK-based Proof of Reserves system. Hacken published a complete report on the assessment, announced it on their Tw...
Binance reserves lost $2.3B following BUSD debacle
Ad Investors withdrew around $2.3 billion worth of Binance USD (BUSD) from Binance within four days after the Securities and Exchange Commission (SEC) issued a warning to BUSD issuer Paxos. The SEC re...