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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 … Read more
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United … Read more
The Atlanta, Georgia-based bank joined the Federal Reserve System in 1947 and is classified as a Minority-owned Depository Institution. Go to Source Powered by WPeMatico
The plan to expand its workforce comes just months after it mutually called off its plans to go public via a SPAC merger. Go to Source Powered by WPeMatico
On Wednesday, the stablecoin project Trueusd announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens. The trueusd crypto asset has a circulating supply of over 968 million tokens and is the sixth-largest stablecoin by market capitalization. Archblock Uses Chainlink to Verify Reserves Before … Read more
The Canadian Securities Administrators has tightened registration requirements for crypto exchanges for the second time, after the disorder seen in 2022. Go to Source Powered by WPeMatico
Eight days ago, Paxos announced that the company would no longer mint the stablecoin BUSD. Since then, the coin’s market capitalization has been sliding lower as redemptions have become more prominent. Meanwhile, a data researcher from Nansen has discovered that Binance, the largest cryptocurrency exchange by trade volume, has increased its usd coin holdings by … Read more
The stablecoin issuer is currently facing a lawsuit from the SEC in which the financial regulator claimed BUSD was an unregistered security. Go to Source Powered by WPeMatico
Bitcoin’s upward momentum could continue according to Asian stablecoin demand and the BTC futures premium. Go to Source Powered by WPeMatico
The BIS-affiliated advisory body will release its final recommendations on global crypto asset regulation and supervision in July. Go to Source Powered by WPeMatico