Tag Archives: usdc

The launch of USDC on Arbitrum will replace the currently circulating bridged version of USDC that comes from Ethereum. In an announcement on Thursday, June 1, stablecoin issuer Circle announced its plans to launch the native version of its USDC stablecoin on the Arbitrum blockchain network. USDC on Arbitrum As per the official announcement, Circle shall replace the existing version of USD Coin, which is an Ethereum-based token bridged to Arbitrum, with a native token that runs and resides...

The firm also conducted a survey recently to asses the constructive stance of policymakers towards crypto and Web3 in Singapore. Crypto exchange Coinbase is looking into relocating to Singapore as the United States Securities and Exchange Commission rejects the company’s requests for regulatory clarity. The US SEC recently asked the judge to deny Coinbase’s bid to coerce the agency to answer Coinbase’s rulemaking petition. The petition was submitted last year asking for clarity on how...

Amid the current banking crisis in the United States, stablecoin issuers like Tether and Circle have been moving their reserves to the safest instrument i.e. US Treasury. In a recent development, USDC stablecoin issuer Circle has reported that it has recently adjusted its reserve treasury in order to avoid the risks of US debt defaults. On Wednesday, May 10, Circle CEO Jeremy Allaire appraised the same stating that the firm has adjusted the mix of reserves backing the stablecoin USDC by...

Fintech firm Circle announced the mainnet availability of Cross-Chain Transfer Protocol (CCTP) for developers building on Ethereum and Avalanche networks. The protocol will essentially allow USDC to flow natively across supported chains by burning the native stablecoin on a source chain and minting the same amount on a destination chain. The “burn and mint” process results in USDC “teleporting” from one blockchain to another by eliminating the complications and risks of...

Jeremy Allaire – CEO of Circle Internet Financial Ltd. – argued that US investors could soon relocate due to the lack of proper regulations and the growing banking crisis. The collapse of Silicon Valley Bank (SVB) in March caused severe issues for the stablecoin issuer. USDC de-pegged from its $1 fixed valuation to as low as $0.87 after Circle revealed a massive $3.3 billion exposure to the financial institution. However, it coped with the problem, assuring that investors...

KuCoin has assured all the impacted users that it would reimburse them the amount lost while also pledging additional security measures. In the latest development, the hackers managed to briefly breach the Twitter account of the crypto exchange KuCoin thereby causing the exchange users to lose more than $22,000. Earlier today on April 24, hackers took over KuCoin’s Twitter account for 45 minutes, promoting a fake activity. Although the incident was brief, KuCoin has acknowledged that it...

The new spot trading feature will have zero maker and taker fees, meaning there will be no margin for the exchange. Deribit, the world’s largest crypto options exchange, is expanding its offerings by launching its zero-fee spot trading. Per the announcement, the company will launch a zero-fee spot exchange by April 24. With this development, Deribit now offers a full spectrum of trading opportunities to its clients. The move comes shortly after Binance ended its zero-fee spot trading...

In its delisting announcement, Binance.US said it would remove TRON’s TRX from its trading platform on April 18th.  TRON‘s native TRX coin recently shed 6.4% following delisting from Binance.US amid a regulatory lawsuit against founder Justin Sun. Weeks ago, the Securities and Exchange Commission (SEC) sued Sun over allegations that he sold and airdropped unregistered securities. The regulatory agency also accuses the popular crypto entrepreneur of fraud and market manipulation involving...

The blockchain security company – PeckShield – outlined that wrongdoers siphoned $211.5 million worth of cryptocurrencies last month via 26 attacks. The Euler Finance exploit accounted for the bigger part of the amount after hackers stole $197 million in staked ETH, USDC, wrapped BTC, and DAI. March Was Not All Sunshine and Roses The revival of the cryptocurrency market last month and the rising prices of many digital assets seemed like great news for investors and proponents...

As the growing liquidity strain in the price of Bitcoin is a major concern, American banks are likely to start exploring new avenues to rebuild that part of the industry. The recent bank runs of American banks as recorded in March have fueled a massive pulldown on the liquidity base of Bitcoin (BTC), the world’s largest digital currency by market capitalization. As reported by CoinTelegraph citing data from crypto analytics provider, Kaiko, the drained liquidity in the market has hit a...