Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins.
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Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins.
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency.
According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar.
The USD Coin depeg led the DeFi protocol to experience a record-breaking daily trading volume as crypto whales fight for assets.
Bitcoin recovers from the USDC’s depeg from the U.S. dollar.
Following USDC’s depegging, three stablecoins — DAI, USDD and FRAX — also depegged from the U.S. dollar.
At the time of writing, USDC lost 3% of its value as it traded at $0.969, and a Circle executive envisions broader implications for business, banking and entrepreneurs without a…
Circle's reserves are held in a number of banks in the United States, including Silvergate, Silicon Valley Bank, and Bank of New York (BNY) Mellon.
The Lummis-Gillibrand bill is expected to offer regulatory clarity for many crypto projects and determine whether they fall under the purview of the SEC or CFTC.
The Digital Euro Association sees automated micropayments as a way for Europe to maintain its digital competitiveness, once regulations are in place.