KuCoin leads $10M funding for Chinese yuan stablecoin issuer
Circle’s investment arm has joined a funding round for CNHC, the issuer of the eponymous stablecoin pegged to the offshore yuan.
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Circle’s investment arm has joined a funding round for CNHC, the issuer of the eponymous stablecoin pegged to the offshore yuan.
The “big four” Australian bank is the second to issue a stablecoin and hopes to support transactions by corporate clients by the end of the year.
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin.
“What happened over the last several days was a bit of an ironic black swan situation where the contagion was not from crypto to TradFi," said Caroline Hill.
On March 12, Bitcoin futures traded 5.5% below regular spot exchanges, causing volatility in derivatives markets.
Coinbase assured users that their BUSD funds would remain accessible and they could still withdraw funds at any time.
Some foresee benefits if the U.S. finally gets sensible crypto regulation post-Silvergate, and traditional banks “may become warmer to establishing [crypto] relationships.”
Circle announced a new banking partner after Silicon Valley Bank’s failure, and is expanding ties with BNY Mellon.
The market frenzy that started with the Silicon Valley Bank collapse is pushing BTC price higher but with some casualties left behind.
Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed.