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Stablecoin Giants Tether, Circle Disclose Financial Relationship With FTX, Alameda

Amid the chaotic meltdown, asset movement from Circle to FTX surfaced. It was also reported that Alameda could be the second-largest issuer of Tether. CEO of USDC issuer, Jeremy Allaire,…

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Elephant in the Room: FTX Troubles Force Exchange Executives to Talk About Proof-of-Reserves

On Nov. 9, 2022, a day after the news broke regarding Binance planning to purchase the exchange FTX, the crypto economy dropped 11.17% in 24 hours. The crypto economy has…

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Circle Starts Moving USDC Reserves Into a Blackrock-Managed Fund, Firm Expects to Be ‘Fully Transitioned’ Next Year

According to the crypto firm Circle Internet Financial, the company is “deepening” its partnership with the world’s largest asset manager Blackrock. Circle disclosed that it has started to transfer USDC…

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Stablecoin Blues: $3 Billion Erased From the Dollar-Pegged Token Economy, HUSD Depegs, USDC Supply Drops 10%

Over three billion in value was erased from the stablecoin economy during the past 30 days. The trend occurred despite the number of tethers in circulation rising by 2.2% last…

Continue ReadingStablecoin Blues: $3 Billion Erased From the Dollar-Pegged Token Economy, HUSD Depegs, USDC Supply Drops 10%