Stablecoin Financial News

13.03 / 04:07

business Stablecoin Banks banking Usd Coin USDC bounces back toward $1 peg after Fed announcement

Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has new banking partners lined up at “banking open tomorrow morning.”

12.03 / 15:13

business Blockchain Technology Stablecoin Adoption Tokens Decentralization Usd Coin How and why do stablecoins depeg?

Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen.

12.03 / 12:59

Stablecoin Circle USDC Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD

USDC issuer Circle has pledged to cover any shortfall in the stablecoin's reserves if it does not receive the entirety of the $3.3 billion held at now-collapsed Silicon Valley Bank.

12.03 / 08:47

Stablecoin Adoption Binance Altcoin Banks Fiat Money Backed Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ

The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies. However, the recent depegging of Circle’s USD Coin (USDC) led Binance CEO Changpeng ‘CZ’ Zhao to believe that traditional banks are a risk to stablecoins that are usually pegged 1:1 with fiat currencies, like the US dollar.

12.03 / 04:53

Blockchain Stablecoin defi Altcoin Circle Usd Coin Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount

Several USD Coin (USDC) holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC's collateral was held at Silicon Valley Bank.

12.03 / 00:11

business Stablecoin Altcoin Circle Usd Coin Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds

USD Coin (USDC) issuer Circle plans to use "corporate resources" to cover the shortfall on its reserves following Silicon Valley Bank's shutdown, said the company in a statement on March 11.

11.03 / 21:29

business Stablecoin defi Circle Usd Coin Binance USD Curve Finance trading volume reaches $7B historic high after USDC depeg

Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets and depegged the USD Coin (USDC) from the U.S. dollar.

11.03 / 19:41

Stablecoin Circle USDC Bankruptcy Usd Coin USDC Depeg: Circle's $43 Billion Stablecoin in the Spotlight as Silicon Valley Bank Exposure is Revealed – Here's the Latest

The USD Coin (USDC) stablecoin has distanced away from its intended $1 peg following the revelation that Circle has exposure to the now-collapsed Silicon Valley Bank.

11.03 / 18:27

Blockchain Stablecoin defi Aavegotchi bonding curve closes on exact day of DAI depeg

According to play-to-earn nonfungible tokens (NFT) protocol Aavegotchi on Mar. 11, the entity closed the bonding curve defining the exchange rate between its namesake token (GHST) and the DAI U.S. dollar stablecoin (DAI). The same day, the DAI stablecoin depegged as part of the ongoing USD Coin destabilization, which was, in turn, caused by $3.3 billion in stuck stablecoin collateral deposits owed to its issuer Circle by now-defunct Silicon Valley Bank.

11.03 / 14:29

markets Stablecoin Altcoin Usd Coin Bitcoin Bitcoin Price Bitcoin price spikes to '$26K' in USDC terms — How high can the BTC short squeeze go?

Bitcoin (BTC) refused to let $20,000 support die for good on March 11 as the weekend opened to a battle for lost ground.

11.03 / 14:15

business Stablecoin Altcoin Tether MakerDAO DAI Usd Coin Circle’s USDC instability causes domino effect on DAI, USDD stablecoins

The stablecoin ecosystem felt an immediate effect as USD Coin (USDC) depegged from the US dollar due to a subsequent sell-off after Silicon Valley Bank (SVB) did not process $.3.3 billion of Circle’s $40 million transfer request. Given USDC’s collateral influence, major stablecoin ecosystems followed suit in depegging from the dollar.

11.03 / 08:31

business Stablecoin regulation Circle Banks Usd Coin USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank

Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 mark.

11.03 / 07:15

business Stablecoin regulation Circle Banks Usd Coin Circle discloses $3.3B tied up at Silicon Valley Bank

On March 10, Blockchain payment technology company Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Bank (SVB).

11.03 / 00:37

business Stablecoin regulation Circle Banks Circle's exposure to U.S. banks could top $9B

USD Coin (USDC) issuer Circle exposure to the United States banking system sits near to $9 billion, according to its latest audit report from January. Circle's reserves are held in a number of regulated financial institutions in the country, including Silvergate, Silicon Valley Bank, and Bank of New York (BNY) Mellon.

10.03 / 11:51

cryptocurrency Stablecoin Digital Currency NFT Bloomberg Opinion Token Move over Stablecoin. A new Token is coming

The world of digital cash is divided into two camps. The traditionalists want a public authority to remain in charge of providing a safe medium of exchange for people to settle claims against one another. Or else, they say, private money could become as unreliable as in the pre-US-Civil-War era of wildcat banking, when notes issued by a lender in Tennessee would be discounted by 20% in Philadelphia.

10.03 / 08:49

Stablecoin regulation economy Federal Reserve Financial Systems US Fed to create new crypto team amid concerns about unregulated stablecoins

The United States Federal Reserve is set to create a “specialized team of experts” to keep up with developments in the cryptocurrency industry, according to a Fed official, amid concerns from the Fed of “unregulated” stablecoins.

10.03 / 00:49

Government Stablecoin CBDC Adoption UK government Future Time CBDCs threaten our future, so it’s time to take a stand

If the development of blockchain technology was a financial revolution, central bank digital currencies (CBDCs) are the counter-revolution. Their development has intensified in 2023 across the globe, and it’s now more important than ever for the world to know what could lay behind the acronym.

09.03 / 19:27

Stablecoin Arthur Hayes Bitcoin Crypto Billionaire Arthur Hayes Proposes Bitcoin-Based USD Stablecoin – How Would it Work?

Crypto billionaire Arthur Hayes has proposed a Bitcoin-backed stablecoin. The stablecoin's value would need help from exchanges to maintain its $1 peg.

09.03 / 17:15

Blockchain Technology Ethereum Stablecoin Adoption community Bitcoin Blockchain Adoption 5 countries leading the blockchain adoption

Countries lead blockchain adoption for various reasons, including recognizing its potential to transform multiple sectors of the economy, promoting innovation and economic growth, and creating a favorable regulatory environment to attract blockchain businesses.

09.03 / 11:31

Stablecoin regulation BitMEX Arthur Hayes Bitcoin BitMEX co-founder Arthur Hayes proposes Bitcoin-based stablecoin

Amid the United States regulators increasingly scrutinizing stablecoins, the community continues to pitch new ideas of stablecoins independent from the U.S. dollar.

09.03 / 07:19

Ethereum Stablecoin CFTC SEC Tether security Stablecoins and Ether are ‘going to be commodities,’ reaffirms CFTC chair

Stablecoins and Ether (ETH) are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent Senate hearing.

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