Cryptocurrencies seem to have resisted exceptionally well the closure of Silicon Valley Bank, with the exception of the USD Coin (USDC) stablecoin, which since the bank’s collapse has suffered an outf...
Tag: Stablecoin
Tether Stablecoin Dominance Hits Highest Point in 18 Months
Stablecoin tether (USDT) continues to dominate the market as traders and investors shun major rivals in favor of the world’s largest digital asset pegged to the US dollar. A view of USDT’s market domi...
KuCoin leads $10M funding for Chinese yuan stablecoin issuer
The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer. KuCoin Ventures has led a $10 million inv...
KuCoin Has Closed a $10M Funding Round Into CNHC. But Is the Offshore Yuan Right for a Stablecoin?
“This investment in CNHC is part of KuCoin Ventures’ broader strategy of investing in the Web3 infrastructure in the APAC region,” Justin Chou, chief investment officer of KuCoin and lead at KuC...
Stablecoin issuer CNHC raises $10 million in funding led by KuCoin Ventures
CNHC Group, the issuer of the CNHC stablecoin that is pegged 1:1 to the offshore Chinese yuan, raised $10 million in funding. KuCoin Ventures led the deal, the crypto investment firm said Wednes...
Circle USDC Rebounds From De-Pegging, but Stablecoin Observers See an Uncertain Future
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National Australia Bank made first-ever cross-border stablecoin transaction
National Australia Bank (NAB) announced March 14 that it had executed the first-ever cross-border stablecoin transfer on a layer 1 public blockchain. The intrabank transfer used the bank’s fully backe...
Investor Mints $407.8M in USDC as Stablecoin Recovers Dollar Peg
Those looking to stablecoin issuer Circle as crypto’s next fire sale may have to look elsewhere. At the time of writing, Circle’s U.S. dollar-pegged stablecoin has almost regained its full value afte...
Tron [TRX] finds impetus thanks to stablecoin transfers in this way
TRON had 50% more circulating stablecoins than Ethereum TRX’s Open Interest formed a bearish divergence which could lead to a pullback Amidst all the chaos in the crypto-markets following the collapse...
Binance Swaps BUSD Stablecoin From ‘Recovery Fund’ to Bitcoin, Ethereum, BNB
Binance, the world’s largest crypto exchange by trading volume, responded to the latest drama around the USDC stablecoin by converting the remainder of its $1 billion Industry Recovery Initiative fund...
U.S Justice Department Investigates TerraUSD Stablecoin Collapse
The US Justice Department is investigating last year’s collapse of TerraClassicUSD (USTD) stablecoin. The investigation raises the possibility of filing U.S. criminal charges against the South Korean ...
DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse – Bitcoin News
The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnam...
BitMEX Founder Arthur Hayes Proposes New Bitcoin-Backed Stablecoin – Here’s How It Works
BitMEX co-founder and crypto veteran Arthur Hayes is proposing an idea for a new Bitcoin (BTC)-backed stablecoin. In a new blog post, Hayes tells his 67,000 followers that the collapse of crypto-frien...
‘Big Four’ Australian Bank Issues Stablecoin On Ethereum
One of Australia’s ‘big four’ banks says it has completed its first intra-bank cross-border transaction using its own stablecoin via Ethereum. The transaction, part of a National Australia Bank (NAB) ...
USDC Stablecoin Regains Dollar Peg, Crypto Daily TV 14/3/2023
In Todays Headline TV CryptoDaily News: USDC stablecoin regains dollar peg after Silicon Valley Bank-induced chaos. The USDC stablecoin regained its peg to the U.S. dollar, after falling below the $1...
Justice Department investigating collapse of Do Kwon’s TerraUSD stablecoin: WSJ
Ad The U.S. Justice Department has opened a probe into the collapse of Do Kwon’s TerraUSD stablecoin, according to the Wall Street Journal (WSJ). The investigation is said to target former team member...
Prompt Regulator Action And Stablecoin Issuer Assurances See USDC Repeg ⋆ ZyCrypto
Advertisement     A March 12, 2023, joint statement by the Department of the Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) advised th...
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...
Stablecoin Trading Dominates Monday’s Crypto Market, Tether and BUSD Sell at Premiums – Market Updates Bitcoin News
On Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded...
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 ...
TUSD’s supply crosses $2B amid banking woes for stablecoin rivals
Ad TrueUSD’s (TUSD) circulating supply has more than doubled in the last two weeks, reaching over 2 billion tokens on March 13. TUSD’s total supply is 2.073 billion as of press time, according to Cryp...
Assessing the state of TRON [TRX] amidst ongoing Stablecoin turmoil
USDC supply on Tron dropped sharply while USDT’s dominance rose. TRX jumped nearly 15% at press time. The current stablecoin turmoil has spread far and wide and no crypto project has managed to stay a...
Binance to Acquire $1,000,000,000 in Bitcoin, Binance Coin and Ethereum in Massive Stablecoin Swap
Crypto giant Binance says it’s converting $1 billion of its dollar-pegged stablecoin BUSD into Bitcoin, Binance Coin and Ethereum. Binance CEO Changpeng Zhao says this represents the remainder of the ...
USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement – Bitcoin News
The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the ...
Aave discontinues stablecoin trading on its V3 deployment- Here’s why
Aave has frozen stablecoin trading on the V3 Avalanche deployment. AAVE is due for a price decline as selling pressure exceeds buying pressure. In response to the recent price volatility on stablecoi...
Aave Halts Stablecoin Trading on V3 Avalanche After An Analysis
Aave halted the stablecoin trading on v3 Avalanche due to activity surges on the CEXs. The halt follows as an analysis from DeFi’S risk manager firm considers different scenarios for the USDC price. A...
Crypto Platform Huobi Exchanged $100,000,000 USDC for DAI During Stablecoin Depegging Scare: On-Chain Data
Crypto exchange Huobi converted $100 million worth of USD Coin (USDC) to Dai (DAI) as uncertainty spread in the stablecoin market this weekend, on-chain data shows. According to blockchain tracking fi...
Aave Freezes Stablecoin Trading Amid Price Volatility
Aave, a popular lending protocol in the decentralized finance (DeFi) space, has taken action to mitigate the impact of recent price volatility in the stablecoin market. On March 11, the price of USD C...
How exactly does a stablecoin depeg? – Cryptopolitan
Stablecoins are cryptocurrencies designed to maintain a stable value relative to another asset, often the US dollar. This stability makes stablecoins attractive to investors and traders who want to he...
Is Circle’s USDC Stablecoin Crisis a Blessing in Disguise for Bitcoin?
Alex Dovbnya The recent crisis surrounding Circle’s USD Coin (USDC) stablecoin may have inadvertently boosted Bitcoin, as people are turning to it to achieve a synthetic USD due to the collapse ...
USDC Hits All-Time Low As Investors Pull Out Funds From The Stablecoin
USDC has been hit with a bearish wave following news of the collapse of Silicon Valley Bank on March 11. The stablecoin issuer Circle had revealed that it had $3.3 billion in deposits with the defunct...