In May 2021, Circle, a fintech company that offers payment and trading solutions, revealed that it had discovered a massive discrepancy in its USDC reserves. Silicon Valley Bank, which was responsible...
Tag: USDC
Binance and Coinbase Halt USDC Transfer – Is Circle’s USDC Next in Line for a UST-Style Collapse?
Coinbase and Binance, two of the world’s largest cryptocurrency exchanges, have taken action in response to Circle’s stablecoin, USD Coin (USDC), suffering a de-peg following the collapse of Silicon V...
USDC de-pegs, Kraken CEO wonders if the market is losing trust in US products
By Mar. 11, USDC, a stablecoin, de-pegged, falling to as low as $0.89 during the Asian session, trackers reveal. USDC de-pegs after Silicon Valley Bank folds The de-pegging of the USDC, theoretically ...
USDC Issuer Circle Reveals It Couldn’t Withdraw $3.3 Billion From Silicon Valley Bank
Stablecoin issuer Circle disclosed late Friday that around $3.3 billion of its $40 billion USDC reserves remained at Silicon Valley Bank. This comes after the high-tech lender’s share price dropped pr...
SVB closure spurs a crypto crisis: Coinbase and Binance suspend USDC conversions
Just a day after covering Silicon Valley Bank stock (NASDAQ: SIVB) 60% dip after it announced it was raising funds to cover a loss it made after selling securities at a loss, the SVB closure is causin...
USDC and DAI remain at about $0.90 following Circle’s disclosure of funds at SVB
The fallout from the collapse of Silicon Valley Bank spread overnight to the USDC stablecoin, which lost its peg to the U.S. dollar and dropped as low as $0.88. Following Circle’s disclosu...
BTC’s Rollercoaster Around $20K Continues as USDC Drops to $0.9: Weekend Watch
Bitcoin’s woes keep on coming as the asset plummeted to a new two-month low at $19,500 yesterday before bouncing off by over a grand. This comes amid the Silicon Valley Bank’s troubles and the apparen...
Stablecoins No More Stable: After USDC Depeg, Is Tether’s USDT in Trouble?
The collapse of Silicon Valley Bank (SVB) has caused worry in the crypto industry, especially for investors who use stablecoins like USDC and USDT. Let’s see how this affects these stablecoins. USDC a...
Will USDC Crash? USD Coin trading at a 10% Discount!
The cryptocurrency market started crashing again earlier this week, as Bitcoin broke its support price of 20K. The total crypto market cap slipped below $1 trillion and panic spread quickly. Many cryp...
USDC Depegs Below $0.90, Circle Confirms Exposure to SVB
Crypto investors have flocked to redeem their USD Coin (USDC) holdings after its issuer Circle revealed it held $3.3 billion of its reserves at the failed Silicon Valley Bank (SVB). Concerns about USD...
Circle stablecoin USDC depegs to under $0.90
USD Coin (USDC/USD) has fallen below $0.90, sharply depegging after Circle confirmed exposure to Silicon Valley Bank. The cryptocurrency news this Saturday also sees major cryptocurrencies, includin...
USDC Depegs as Circle Reveals Exposure To Struggling Silicon Valley Bank
7 seconds ago | 2 mins read Altcoin News Circle verified that $3.3 billion of the USDC reserves was lying with SVB. As of this writing, the USDC was trading at $0.8974. The price of USD Coin (USDC) dr...
USDC investor shells out $2M to receive $0.05 USDT trying to evade crash
Soon after Circle revealed that Silicon Valley Bank did not transfer $3.3 billion of its USD Coin (USDC) reserves, the market responded with a massive sell-off — depegging the stablecoin from the US d...
Stablecoins In Trouble? USDC, DAI, USDD Depeg As SVB Crisis Deepens
Crypto News: Dealing with a heavy sell off, the global digital asset market registered a broad recovery on Saturday morning. Bitcoin, Ethereum price jumped by 3% and 5%, respectively. However, the top...
Silicon Valley Bank leaves USDC bleeding- Will it impact Stablecoin market?
USDC’s market cap fell from $43.56 billion to $38.9 billion, a drop of over 11%. As per Nansen, Circle burned $2.34 billion worth of USDC in the last 24 hours. USD Coin [USDC], lost its dollar peg on ...
Is Circle’s USDC Stablecoin at Risk after the collapse of SVB?
The collapse of Silicon Valley Bank (SVB) on March 10 has sent shockwaves through the crypto industry, leaving many investors concerned about the exposure of major players like Circle, the issuer of t...
USDC Stablecoin and Crypto Market Go Haywire After Silicon Valley Bank Collapses
Crypto was born in the aftermath of – and, to some, in response to – the 2008 crisis. Satoshi Nakamoto’s Bitcoin paper debuted into a world where governments had just propped up the financial sy...
USDC Tumbles to $0.93 as Circle Reveals $3.3 Billion Held at SVB, Tether and Binance Not Exposed
Following the second-largest bank collapse in American history on Friday, market participants are worried about which firms might be caught up in the contagion surrounding Silicon Valley Bank (SVB). ...
USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank
Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from Silicon Valley Bank (SVB), the resultant sell-off caused the price of t...
USDC Dollar Peg Takes Major Hit Amid High Volatility
Circle, the issuer of the USDC stablecoin is facing massive heat from the shutdown of the Silicon Valley Bank (SVB) on Friday, March 10. Circle has recently confirmed that it has $3.3 billion, of its ...
Coinbase Pauses Conversions Between USDC and US Dollars as Banking Crisis Roils Crypto
While temporary, the pause speaks to the chaos that’s roiled the crypto industry’s second-largest stablecoin in the wake of Silicon Valley Bank’s demise. All day Friday crypto trader...
Coinbase halts conversion feature between U.S. dollars and USDC
Coinbase said Friday evening that it halted support for conversions between U.S. dollars and stablecoin USDC. “We are temporarily pausing USDC:USD conversions over the weekend while banks ...
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...
Voyager Continues Liquidating Crypto Assets for Circle’s USDC Stablecoin
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CFTC head says stablecoins are in agency’s jurisdiction without ‘clear direction from Congress’
The head of the Commodity Futures Trading Commission views most stablecoins as commodities, barring new law that could change their classification. “Not withstanding that, they are a commo...
Maverick Protocol DEX launches with Lido integration to compete with Uniswap
A new contender is challenging Uniswap for decentralized exchange supremacy. Or so Maverick CTO Bob Baxley believes. Maverick Protocol, along with Lido, Liquity and Galxe, today deployed a dece...
Vitalik Buterin Contributes $15M USDC Towards Airborne Diseases Research
6 seconds ago | 2 mins read Altcoin News This grant is said to be the largest ever contributed to open-source research on aerosols. The study group will be headed by Prather and Rommie Amaro. Vitalik ...
Vitalik Buterin’s philanthropic fund donates 15M USDC to UC San Diego
According to a Mar. 7 announcement from the University of California San Diego (UCSD), the post-secondary institution has received a 15 million USD Coin (USDC) donation from the Balvi Filantropic Fund...
Vitalik Buterin’s Fund Donates $15M in USDC to Airborne Pathogen Research
The Balvi Filantropic Fund, directed by Ethereum co-founder Vitalik Buterin, has donated $15 million in USDC to the University of California San Diego for research into airborne pathogens. It is repor...
Binance accumulates 3.8B USDC in three weeks
Ad Glassnode data analyzed by CryptoSlate revealed that Binance accumulated 3.8 billion USD Coin (USDC) during the past three weeks. Binance’s USDC pool sits at 5.1 billion coins at the time of writin...
Bitcoin, crypto prices tread water ahead of pivotal Powell testimony and US jobs data
Crypto markets were relatively flat to start the week ahead of Jerome Powell testimony and some significant economic indicators. Bitcoin was trading around $22,500 by 12:30 p.m. EST, up 0.3%, ac...