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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
A professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would need to sell could disrupt the U.S. Treasuries market, affecting prices. Cornell Profesor Alerts … Read more
The World Economic Forum (WEF) has reviewed what happened in 2022 in crypto, making several predictions about the future of the ecosystem. Dante Disparte, CSO of Circle, in an article published for the WEF, states that while 2022 has been a terrible year, the building blocks of the industry will continue to be “integral parts” … Read more
Turmoil in the crypto sector in 2022 will see the tech change hands to “more regulated and established institutions,” said Circle’s chief strategy officer. Go to Source Powered by WPeMatico
While on-chain stablecoins settlements are growing rapidly, many people pointed out that comparing stablecoin settlements to Visa transactions is not fair as they represent two different things. Go to Source Powered by WPeMatico
Coinbase’s request comes just a couple of months after Binance ceased support for USDC. Go to Source Powered by WPeMatico
Over the last few weeks, there’s been a lot of information revealed surrounding the recent FTX and Alameda Research disaster. On Dec. 6, the Financial Times (FT) published documentation that shows Alameda’s investment portfolio, which alleges the company spent more than $5 billion on hundreds of investments. Some of the funds went to odd investments … Read more