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Silvergate is reportedly facing an investigation from the United States Department of Justice over its alleged role in the FTX collapse, involving Sam Bankman-Fried’s account. Go to Source Powered by WPeMatico
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United … Read more
The Atlanta, Georgia-based bank joined the Federal Reserve System in 1947 and is classified as a Minority-owned Depository Institution. Go to Source Powered by WPeMatico
Circle boss Jeremy Allaire maintains that “payment stablecoins” are payment systems, not securities. Go to Source Powered by WPeMatico
Bitcoin proponents called it the start of another bull run, while a few other analysts believe it’s a bear trap. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
The company’s complaint to the New York regulator reportedly came before the SEC’s lawsuit against Paxos over BUSD and NYDFS ordering the firm to “cease minting” the stablecoin. Go to Source Powered by WPeMatico
Circle has released its reserve report for December 2022 highlighting over-collateralized asset holdings currently backing 44.5 billion USDC tokens in circulation. Go to Source Powered by WPeMatico
Persistent worries about Binance’s solvency, increased regulation of the crypto sector and questionable use cases are chipping away at BUSD’s market capitalization. Go to Source Powered by WPeMatico
A handful of cryptocurrency industry players who took part in workshops at the World Economic Forum Annual Meeting paint a picture of increased collaboration within the space in 2023. Go to Source Powered by WPeMatico
