redemption – DIGIT INFO

Bitcoin ETF applicants will have to ‘bend the knee’ on cash redemption model

DIGIT — Thu, 14 Dec 2023 04:29:56 +0000

The SEC is pushing Bitcoin ETF issuers down the cash create route for creation and redemptions, but BlackRock has other ideas.

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With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021

DIGIT — Sun, 16 Apr 2023 14:30:25 +0000

Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. […]

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Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply

DIGIT — Sun, 26 Mar 2023 14:30:52 +0000

According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. […]

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Circle clears ‘substantially all’ minting and redemption backlog for USDC

DIGIT — Thu, 16 Mar 2023 02:01:33 +0000

The stablecoin issuer said as at U.S. banking close on Wednesday, it redeemed $3.8 billion USDC and minted $0.8 billion USDC.

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USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement

DIGIT — Mon, 13 Mar 2023 02:30:26 +0000

The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California’s Silicon Valley Bank (SVB) and New York’s Signature Bank. […]

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Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’

DIGIT — Sun, 12 Mar 2023 00:00:15 +0000

On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle significant volume” and that the firm will “stand behind USDC and […]

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BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance

DIGIT — Sat, 25 Feb 2023 19:00:53 +0000

After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin’s valuation with a market cap of around $11.12 billion, compared to the meme […]

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Binance withdrawals and BUSD redemptions surge post Paxos crackdown

DIGIT — Tue, 14 Feb 2023 05:50:06 +0000

Net outflows at the cryptocurrency exchange hit $788 million over the last 24 hours, however, Binance told Cointelegraph that “Funds are SAFU.”

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Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 30 Days

DIGIT — Fri, 10 Feb 2023 15:00:51 +0000

It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time […]

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Ethereum Liquid Staking Trend Continues to Swell; 5 Platforms Control 97% of Market

DIGIT — Tue, 07 Feb 2023 15:00:54 +0000

As of Feb. 7, 2023, the value locked in 11 Ethereum-based liquid staking protocols has risen above $11 billion, with Lido, Coinbase, and Rocket Pool recording 4-10% gains over the past month. Lido holds more than 73% of the total value locked (TVL) out of the 6.87 million ether held by the 11 liquid staking […]

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