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“Financial institutions may reconsider adopting stablecoins to settle agreements involving tokenized securities out of concern over the coins’ potential volatility,” Moody’s said. Go to Source Powered by WPeMatico
DeFi suffered its biggest attack this year with a flash loan attack on crypto lending platform Euler Finance and the hackers are belived to be same that exploited a BSC based protocol in February. Go to Source Powered by WPeMatico
Turmoil in traditional finance spilled over into Bitcoin and crypto markets, forcing federal regulators to step in. Go to Source Powered by WPeMatico
The stablecoin issuer said as at U.S. banking close on Wednesday, it redeemed $3.8 billion USDC and minted $0.8 billion USDC. Go to Source Powered by WPeMatico
The technology advisory committee aims to assist the CFTC in “identifying and understanding the impacts and implications of technological innovation in financial services and markets.” Go to Source Powered by WPeMatico
“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. Go to Source Powered by WPeMatico
Positive developments concerning Circle’s $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg. Go to Source Powered by WPeMatico
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
The trading freeze follows an analysis from DeFi’s risk manager firm Gauntlet Network considering different scenarios for the USD Coin price. Go to Source Powered by WPeMatico
