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As onlookers predict that top Chinese property developer and commercial paper issuer Evergrande will default, some analysts believe the firm poses systemic risks to crypto. Go to Source Powered by WPeMatico
Crypto traders flocked to the safety of stablecoins during the Sept. 7 market crash. Go to Source Powered by WPeMatico
Centre, the consortium created by Circle and Coinbase around USD coin (USDC), has assembled a team of new executives to power its expansion overseas. The new team, comprising six new executives assembled by David Puth, CEO of Centre, will look to support new partners and add new alliances to keep the company growing in the … Read more
Coinbase president Emilie Choi expects USDC’s updated reserves policy to be in full effect by September. Go to Source Powered by WPeMatico
Institutional Crypto.com customers in more than 60 countries can now make U.S. dollar bank transfers to and from their USDC wallets. Go to Source Powered by WPeMatico
The market capitalization of the world’s largest stablecoin received a boost despite facing regulatory threats in the United States. Go to Source Powered by WPeMatico
The Coinbase website now states that USD Coin is “backed by fully reserved assets,” contrary to the now-removed claim of “backed by U.S. dollars in a bank account.” Go to Source Powered by WPeMatico
Circle, a cryptocurrency fintech services company, announced it intends to become a full-reserve national commercial bank. This would bring a set of responsibilities and duties to the company equal to those of other mainstream banks: having to report to the Federal Reserve, U.S. Treasury, OCC, and the FDIC. However, it would also put the company … Read more
Tether Limited has released an assurance report reviewed by Moore Cayman, an auditor of investment funds and digital assets. The report provides a breakdown of the company’s assets and reserves which Moore Cayman claims are around $62.7 billion as of June 30. Tether Publishes Assurance Report On August 9, 2021, Tether’s chief technology officer tweeted … Read more
The U.S. Securities and Exchange Commission (SEC) has charged Poloniex with operating an unregistered cryptocurrency exchange. Poloniex has agreed to a cease-and-desist order and to pay $10.34 million. SEC Hits Poloniex With Cease-and-Desist Order, Penalties The SEC announced Monday that “Poloniex LLC has agreed to pay more than $10 million to settle charges for operating … Read more