Market Selloffs Lead to Rising Inflows of USDC: Circle CEO
In the latest interview with Fox Business, Circle CEO Jeremy Allaire unveiled his thoughts on the turbulent crypto market with stablecoins being targeted by short sellers partly due to the…
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Circle Partners With New York Community Bancorp — Bank to Custody USDC Reserves
Circle Internet Financial has revealed a usd coin custody partnership with the American bank holding company New York Community Bancorp (NYCB). Under the agreement, NYCB’s subsidiary, New York Community Bank,…
Cathie Wood Does Not Understand Algorithmic Stablecoins
The recent crypto slump may have left many investors shaken in fear, as bad news like major crypto firms falling prey to liquidity crisis and exchanges drastically cutting headcounts continue…
While Bitcoin and Ethereum Dominance Slides, Stablecoin Market Caps Reap the Rewards
During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s…
Stablecoin Dominance Hits All-Time High as Crypto Winter Deepens
When traders and investors exit their crypto asset positions, they usually convert them into stablecoins before taking them off exchanges as fiat. That exodus has been going on for the…
Tether Launches Stablecoin Pegged to the British Pound Sterling
Tether, the company behind the largest stablecoin by market capitalization, has announced another fiat-pegged stablecoin called GBPT on Wednesday, tied to the value of the British pound sterling. The news…
Bank of England: Survivors of Crypto Crash Could Become Dominant Market Players
Bank of England Deputy Governor Jon Cunliffe became the latest person to juxtapose the dot-com bubble to the current cryptocurrency crash. BOE’s Take on Crypto Crash Cunliffe said he expects…
Fed Views Stablecoins as a Financial Instablity, Urges Regulators to Step in
The Federal Reserve published the latest “Monetary Policy Report” on Friday, categorizing the stablecoin industry – particularly the algorithmic stablecoins – as a risk of financial instability. Meanwhile, it expressed…
Stablecoin Giant Tether (USDT) Struggles to Maintain Dominance
Investors are fleeing from Tether (USDT), says on-chain data. The stablecoin giant, as a result, has lost significant market share amid a slew of market corrections. Tether’s Losing Market Share…
Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout
Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to…
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