Circle CSO’s Twitter account breached by scammers
“Any links to offers are scams. We are investigating the situation and taking action accordingly,” wrote USDC issuer Circle. Go to Source Powered by WPeMatico
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USDC depeg will hinder stablecoins’ growth, increase regulatory scrutiny: Moody’s
“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 sees its biggest hack in 2023 as Euler loses $197M: Finance Redefined
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
Crypto Biz: SVB collapses, USDC depegs, Bitcoin still up
Turmoil in traditional finance spilled over into Bitcoin and crypto markets, forcing federal regulators to step in. Go to Source Powered by WPeMatico
Circle clears ‘substantially all’ minting and redemption backlog for USDC
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
CFTC adds execs from Circle, Ava Labs and Fireblocks to tech advisory group
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
Recent contagion was ‘TradFi to crypto’ and not vice versa — Circle policy director
“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
USDC bounces back toward $1 peg after Fed announcement
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
Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. Go to Source Powered by WPeMatico
Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds
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