KuCoin leads $10M funding for Chinese yuan stablecoin issuer
Circle’s investment arm has joined a funding round for CNHC, the issuer of the eponymous stablecoin pegged to the offshore yuan. Go to Source Powered by WPeMatico
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National Australia Bank made first-ever cross-border stablecoin transaction
The “big four” Australian bank is the second to issue a stablecoin and hopes to support transactions by corporate clients by the end of the year. Go to Source Powered by WPeMatico
Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin. 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
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire emphasized. Crypto Firms Scramble for … Read more
Bitcoin futures premium falls to lowest level in a year, triggering traders’ alerts
On March 12, Bitcoin futures traded 5.5% below regular spot exchanges, causing volatility in derivatives markets. Go to Source Powered by WPeMatico
Coinbase disables trading for BUSD
Coinbase assured users that their BUSD funds will remain accessible and that they will still be able to withdraw funds at any time. Go to Source Powered by WPeMatico
Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum
On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following the announcement. CZ’s Decision to Convert $1 Billion BUSD Comes Amidst Troubles … Read more
Gemini says no funds at Signature Bank backing GUSD
The company stated that it previously had a relationship with Signature but said it no longer has funds there. Go to Source Powered by WPeMatico
Crypto industry may escape lasting damage from Silvergate liquidation
Some foresee benefits if the U.S. finally gets sensible crypto regulation post-Silvergate, and traditional banks “may become warmer to establishing [crypto] relationships.” Go to Source Powered by WPeMatico