USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank
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…
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Circle discloses $3.3B tied up at Silicon Valley Bank
Circle joined other customers and depositors in calling for the continuity of SVB in the US economy.
Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment
The sun sets on algorithmic stablecoins as Frax shifts to a fully-backed model.
Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations
It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the…
Crypto Biz: Coinbase has a lot at stake
Coinbase says its staking product offerings are different than Kraken's, which came under SEC scrutiny and resulted in a $30 million fine.
Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals
Tether’s USDT has seen its market capitalization rebound to nearly $70 billion as the SEC ordered Paxos to stop issuing BUSD, the third-largest stablecoin.
Breaking: Circle squashes rumors of planned SEC enforcement action
Rumors swirled on Twitter that the stablecoin issuer received a litigation notice from the U.S. securities regulator but a Circle executive rebuffed the claim.
Algorithmic stablecoin market share dropped by 10x from ATH: Report
The stablecoin market, in general, is going through hard times, though the algorithmic coins suffered the most.
The Stablecoin Economy Shed $28 Billion in 2022 After a Handful of Tokens Lost Their $1 Peg
2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion…
Japan to lift the ban on foreign stablecoins like USDT in 2023: Report
None of the 31 crypto exchanges registered with Japan's Financial Services Agency are currently offering trading in stablecoins like USDT or USDC.
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