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: USDC
Wallet Associated With Justin Sun Makes $3.3 Million In USDC DePeg
A wallet associated with Justin Sun reportedly profited more than $3.3 million. The profit was made in a series of trades after USD Coin lost its dollar peg. The Tron founder reportedly exchanged all ...
Circle works tirelessly to restore USDC liquidity operations – Cryptopolitan
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...
USDC depegging makes MakerDAO introduce new mechanism, more inside
MakerDAO has a new proposal to introduce a debt ceiling breaker. MKR has commenced a new bear run. In a new emergency executive proposal, leading DeFi platform MakerDAO [MKR] has sought community app...
USDC records largest single burn amid bank collapse
Since the beginning of this week, Circle has burned a record $2.2 billion USDC. The redemptions exceeded $4 billion on March 14. The data suggests that many further USDC burns occurred throughout seve...
USDC Struggled to Maintain Peg Amid Silicon Valley Bank Fiasco
Financial markets are undeniably sensitive to the news regardless of whether it is company or industry-specific. The cryptocurrency market being the nascent one among all the economic sectors also pro...
Circle USDC Rebounds From De-Pegging, but Stablecoin Observers See an Uncertain Future
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Here’s what debtors were up to when USDC fell on the charts
USDC losing its peg pulled down the markets, but many saw it as an opportunity to pay loans at a discount Debtors saved around $100 million off their loans during the market rout As the crypto-market ...
Biggest USDC burn on record just occurred, net redemptions since Friday reach $4.5 billion
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...
Here Are the Stablecoins That Thrived as USDC Wobbled
USD Coin (USDC) holders had a long weekend, but fans of several other stablecoins saw a sudden, dramatic spike in the market capitalizations of their favorite projects. On Friday night, Circle, the c...
Curve Finance, Uniswap Trade Volumes Soared Amid USDC Depeg
Several DeFi players have posted some serious figures amid the market’s latest chaos. The trading volume on the decentralized stablecoin exchange Curve Finance hit $6.03 billion on March 11 due to the...
Depegging of USDC and DAI Saves Borrowers $100 Million
Over the weekend, the depegging of two major stablecoins, USD Coin (USDC) and Dai (DAI), from the US dollar prompted a frenzy of loan repayments on decentralized lending protocols Aave and Compound. B...
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...
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...
Tether Benefits From USDC Chaos, USDT Dominance Now 58%
Data shows Tether USD (USDT) has benefited from the recent chaos with the USD Coin (USDC) peg, as the stablecoin’s dominance has now hit 57.8%. Tether (USDT) Dominance Has Surged To 57.8% Now As per t...
Gibraltar’s Xapo Bank Enables GBP and USDC Payments Amid U.S. Crypto Banking Crisis
“From today we have also added support for GBP through the Faster Payments network, meaning members will be able to make payments directly to U.K. wallets or banks,” said Seamus Rocca, CEO...
Crypto Market Rallies on FDIC Banking Intervention, USDC Regains Dollar Peg
The market cap of all cryptocurrencies is back above the $1 trillion mark. After a joint statement from the Federal Reserve, U.S. Treasury, and FDIC declared that all depositors of now-shuttered Silic...
USDC Loss Of Peg Shakes Crypto Market During SVB Collapse
SPONSORED POST* The cryptocurrency market is no stranger to volatility, but the recent USDC (USD Coin) loss of peg has sent shockwaves through the industry. Many traders and crypto users are wondering...
MakerDAO looks to limit volatility after USDC troubles pushed some users to DAI
MakerDAO, which manages the “decentralized” dai stablecoin, launched an emergency proposal to reduce the amount of DAI that can be minted with other centralized stablecoins after concerns ...
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 CEXs hits 12 month high following USDC depeg event: Messari
USDC available on centralized exchanges has hit a 12-month high despite the recent calamity surrounding the depeg event. (Source: Messari) Coinbase was forced to temporarily halt USDC to USD conversio...
How Could USDC Depeg Fear Have Made Traders A Fortune With Avorak AI?
USDC Fear The effects of both Silvergate and Silicon Valley Bank collapses have rippled through the financial sector, most notably affecting cryptocurrencies. Nearly 10% of the total backing for the U...
Mysterious Shiba Inu (SHIB) Trader Nets Huge Profit Selling Ethereum (ETH) During USDC Depegging: On-Chain Data
A mysterious Shiba Inu (SHIB) trader pocketed millions of dollars in the wake of the USD Coin (USDC) depegging, according to on-chain data. Blockchain tracking firm Lookonchain says that as the USDC s...
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...
Crypto: USDC back to parity with USD
At last yesterday the cryptocurrency USDC returned to the value of $1. USDC is a stablecoin crypto token, whose value in theory should always remain in line with the underlying. Indeed, its underlying...
Crypto Market Signals Bullish with Recent USDC, SHIB & ETH Rally
10 seconds ago | 2 mins read Altcoin News The top trending coins are USDC, SHIB, and ETH. Ethereum (ETH) price soared about 4.5% in a day. Since heightened volatility during pre-market hours on Monda...
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...
Uniswap Hits ATH of Almost $12B in Trading Volume Amidst USDC Crisis
The decline of centralized entities has worked out well for their decentralized counterparts. Over the weekend, USDC witnessed a significant trading volume on several decentralized exchanges. Uniswap,...
BTC and USDC Rally To Avoid Further Damages After US Mediation
The failure of Silicon Valley Bank caused ripples in the crypto industry, but after mediation of US authorities, USDC and Bitcoin rallied. When the news of the SVB fallout broke, USDC stablecoin lost ...
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...
USDC depegged, but it’s not going to default
Over the past week, investors understandably became concerned over the news that billions of dollars backing USD Coin (USDC) — the second-largest stablecoin — were locked up in the distressed Silicon ...