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USDC’s Market Cap Sheds Close to $4 Billion in Less Than 20 Days, Binance’s BUSD Climbs 3%

19 days ago, usd coin (USDC), the second largest stablecoin by market capitalization, had an overall valuation of around $48.82 billion and since then, it has continued to deflate down…

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Stablecoin Issuer Tether Fulfills Promise by Reducing Commercial Paper Holdings Down to Zero

On October 13, 2022, Tether Holdings Limited announced that the stablecoin issuer has reduced the company’s commercial paper holdings down to zero. The company has said it would reach this…

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Report: The Oldest Bank in America, BNY Mellon Can Now Custody Bitcoin and Ethereum

America’s oldest bank, the Bank of New York Mellon Corporation, commonly known as BNY Mellon, has announced the financial institution can now custody cryptocurrencies. A report published by the Wall…

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Brazil Registers Record Number of Institutions Declaring Cryptocurrency Holdings

Brazil registered its highest number of companies and institutions declaring ownership of cryptocurrencies in August. The numbers, which come directly from the Brazilian Tax Authority (RFB), show that more and…

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9 Out of the Top 12 Crypto Assets Are Down 70% to 90% Lower Than the All-Time Highs Recorded Last Year

274 days or roughly nine months ago, the crypto economy was worth $2.34 trillion and at $967 billion the aggregate value of all 13,192 crypto assets is $1.48 trillion less.…

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Circle Launches Cross-Chain Transfer Protocol, USDC Issuer Acquires Payment Orchestration Firm Elements

On Thursday, at the Converge22 event in San Francisco, Circle announced the acquisition of the payment orchestration company Elements. Circle explained that the acquisition includes plans to “quickly scale payment…

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Robinhood and Circle Partner to Let Exchange and Wallet Users Utilize the Stablecoin USDC

After Robinhood Markets launched the company’s beta Web3 wallet on Tuesday and listed the stablecoin usd coin on the exchange platform Robinhood Crypto last week, the company announced a strategic…

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Stablecoin Economy Continues to Deflate — USDC’s Market Cap Shed $6.7 Billion in 83 Days

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost…

Continue ReadingStablecoin Economy Continues to Deflate — USDC’s Market Cap Shed $6.7 Billion in 83 Days