Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered...
Tag: USDC
Silicon Valley Bank’s troubles put Circle’s $3.3b USDC reserve at risk
Circle’s USDC, the second-largest stablecoin with a market capitalization of $43b, has been hit by the collapse of Silicon Valley Bank (SVB). On Friday, regulators in California placed the bank under ...
Nine out of top 10 stablecoins trading below peg as USDC contagion spreads – Tether sole survivor
Ad Nine of the top 10 stablecoins by market cap are trading below their dollar peg as the market reels from the contagion sparked by the depeg of Circle’s USDC stablecoin on March 11, according to Cry...
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 says outstanding USDC transactions won’t process until Monday
Circle USDC transactions through Signature Banks Signet network won’t process until Monday, according to a note sent by the company to trading firms. The firm, which founded USDC in 2018 w...
MakerDAO launches emergency proposal to limit USDC exposure
MakerDAO’s risk unit issued an emergency proposal to its governance community following the depegging of the USDC stablecoin after the collapse of Silicon Valley Bank. Maker is the DeFi lending ...
Bitcoin Price Unfazed By USDC Crisis; Signals Upcoming Bull Run
After suffering significant losses on Friday due to the spread of potential contagion risks from the failure of Silicon Valley Bank to crypto markets, Bitcoin and Ethereum have experienced gains of up...
Crypto whales suffer huge losses due to USDC depeg, SVB collapse
In response to the extraordinary depegging event of the USD Coin stablecoin caused by the collapse of its counterparty Silicon Valley Bank (SVB), crypto whales have reported severe losses and appear t...
$6,300,000,000 Erased From USDC Market Cap As Top Stablecoin Depegs From US Dollar
USD Coin (USDC) is struggling to maintain its peg to the US dollar after revelations that some of the cash backing the top stablecoin is stuck in Silicon Valley Bank. The Boston-based firm says $3.3 b...
USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity – Bitcoin News
On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0...
Here is all you need to know about USDC drama – Cryptopolitan
What is the USDC stablecoin? Well, for crypto investors, it’s Lord Voldemort – a coin name currently giving them cold chills. While the startup world digests the shocking implosion of the well-known f...
Crypto Funds Confident Of USDC Recovery Amid SVB Contagion
USDC Coin Price News: The cryptocurrency market displayed signs of recovery amid concerns of liquidity issues stemming from the failure of two US banks — Silvergate and Silicon Valley Bank. But the d...
Is USDC Going To “Zero” ? Major Shareholders Selling Off USDC Could Mean Total Value Drop to Zero, Says CryptoQuant Founder
The stablecoin market is in turmoil following the depegging of Circle Internet Financial’s USDC stablecoin from its intended $1 price. The event has been called a “harrowing development” for a product...
USDC and stablecoins make US bonds market fragile
In the recent Unchained Podcast, “the block ghost of BitMEX”, Arthur Hayes said fiat-backed stablecoins like the USDC, USDT, and others pose a risk to the bonds market, and this is the primary concern...
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...
DeFi Platform Maker DAO Takes Swift Action to Address $3.1B USDC Risk with Emergency Proposal
The crypto market has again met with another stablecoin collapse after UST as investors are rushing to withdraw their funds. Circle, the issuer of USD Coin (USDC), today announced that it faced challe...
Maker DAO files emergency proposal addressing 3.1B USDC exposure
According to a forum post from Maker DAO, issuer of the U.S. dollar-pegged DAI stablecoin, on Mar. 11, the firm requested an “urgent executive proposal to mitigate risks to the protocol.” ...
Will the Ongoing USDC Depeg Worsen Crypto Winter Further?
10 seconds ago | 2 mins read Altcoin News 25% of Circle’s USDC cash reserves were managed by Silicon Valley Bank. The market cap of USDC crashed down over 14% in the last 24h. The second largest stabl...
USDC depeg – Everything we know so far as contagion spreads from TradFi banking
Ad What we know so far about the SVB collapse and USDC/DAI depeg (updated): Crypto firm Circle reveals $3.3 billion stuck in SVB DAI/USDC depeg as stablecoin pressure continues after Silicon Valley ba...
Is USDC Another UST? DeFi Analyst Shares His Take
Vladislav Sopov Seasoned cryptocurrency researcher and educationist who goes by @DefiIgnas on Twitter is sure that USD Coin (USDC) will not collapse in TerraUSD (UST)-like manner Contents No, USD Coin...
Is Vitalik Buterin Supporting USDC Amid Heavy Depegging?
USDC Crash News: Silicon Valley Bank collapse turns out to be the biggest bank to fall since the financial crisis erupted in 2008. However, this crisis has also indulged the cryptocurrency industry wi...
USDC depegs as Circle burns $2.34b in 24 hours
USD Coin (USDC) lost its $1 peg to the USD, trading to low as 81.5 cents on Mar. 11. Meanwhile, trackers indicate that Circle, the issuer of USDC, has burned $2.34b in the last day to meet increasing ...
Robinhood reportedly suspends USDC depositing and trading
Robinhood, a platform that allows the commission-free trading of, among other instruments, cryptocurrencies, via a mobile app, has halted the depositing and trading of USDC. Robinhood temporarily paus...
Circle ($USDC) Has Over $3B Tied Up At Silicon Valley…
The issuer of the second-largest stablecoin Circle has stated that it held an undisclosed portion of its $9.8 billion cash reserves at the failed Silicon Valley Bank as of 17th January 2023. Circle S...
USDC Stablecoin Loses Dollar Peg Following Collapse of Major Banking Partner ⋆ ZyCrypto
Advertisement     USDC stablecoin lost its peg to the dollar early Saturday, dropping as low as $0.84 moments after the descent of Silicon Valley Bank, a major banking...
Bitcoin price spikes to ‘$26K’ in USDC terms — How high can the BTC short squeeze go?
Bitcoin (BTC) refused to let $20,000 support die for good on March 11 as the weekend opened to a battle for lost ground. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin shakes off ...
Circle’s USDC Reserve Exposure and Potential Risks
Circle is one of the largest issuers of stablecoins, with USDC being the second-largest stablecoin in circulation. As of January 31, 2022, the circulating supply of USDC was $42 billion. Stablecoins a...
Both Binance and Coinbase Temporarily Suspend USDC Conversions
10 seconds ago | 2 mins read Exchange News Binance said it will halt USDC conversion to USD over the weekend. Circle said that Silicon Valley Bank still has $3.3 billion underpinning USDC. The two lea...
Circle’s USDC instability causes domino effect on DAI, USDD stablecoins
The stablecoin ecosystem felt an immediate effect as USD Coin (USDC) depegged from the US dollar due to a subsequent sell-off after Silicon Valley Bank (SVB) did not process $.3.3 billion of Circle’s ...
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 Unable to Withdraw $3.3 Billion from SVB, Causing USDC Sell-Off
Circle is a Boston-based fintech company that provides payments and investment services using blockchain technology. USDC is a stablecoin issued by Circle and Coinbase, pegged to the value of the US d...
XRP Used as Solution by Blockchain Financial Service to Convert Funds During USDC Depeg
In the wake of the USDC depeg event, Austin, Texas-based blockchain financial service Reaper Financial, which focuses on acquiring and burning digital assets, has announced that it is converting the U...