Tag Archives: circle

The U.S. government’s biggest financial regulators released a joint statement on Sunday promising to save every last depositor at Silicon Valley Bank (SVB) – even those not fully covered by standard federal deposit insurance.  In response to the news, both Bitcoin and USDC are quickly returning to their price levels from before the bank’s collapse.  The Federal Reserve, Treasury Department, and Federal Deposit Insurance Corporation jointly announced that every depositor would...

The past 24 hours saw the cryptocurrency market take a bit of a breather as it managed to recover around $16 billion in terms of its total capitalization. That said, the turmoil around USDC continues, although the stablecoin recovered to about $0.95 as Circled issued a somewhat reassuring statement. USDC Recovers to $0.95 USDC’s depeg has been the hottest topic in the cryptocurrency market throughout the past 48 hours. It’s the second-largest stablecoin by means of total...

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).  Here’s what venture capitalists and major crypto executives had to say about the failure – and why the crypto community is keeping an eye on Circle in the aftermath.  USDC, the second largest stablecoin and the one issued by Circle, has lost its peg across numerous exchanges. At...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

Following the most recent crackdown by the US Securities and Exchange Commission against several crypto companies, Jeremy Allaire opined that the agency is not the best fit to oversee stablecoins in particular. He believes these assets are part of the banking sector, thus, they need to be regulated by another watchdog in the States. The past several weeks saw the US securities regulator going after several locally based crypto firms, starting with Kraken and its staking...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

Circle – the issuer of the world’s second-largest stablecoin, USDC – reportedly warned the New York Department of Financial Services (NYDFS) last Autumn that Binance has been mismanaging its token reserves. This came months before Monday’s announcement that Paxos is ending its relationship with Binance surrounding BUSD, by order of the New York regulator.  Circle’s Private Warning As reported by Bloomberg, USDC alerted the NYDFS to blockchain-based signs that Binance did not...

Circle – the issuer of the second largest stablecoin by market cap, USDC – is preparing to launch a permissionless protocol for letting users transfer their stablecoins between blockchains.  The company said the protocol can be embedded into dapps, and provide the most “capital efficient” path for cross-chain USDC transfers. Bridging USDC In a tweet on Monday, Circle CEO Jeremy Allaire said the Cross-Chain Transfer Protocol (CCTP) will “help foster more scalable, efficient,...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.