Usd Coin Financial News

Binance Holdings Ltd. is considering ending relationships with US business partners as regulators turn up the heat. The company, which operates the world’s largest crypto exchange, is weighing the retreat after its relationships with a key banking partner and stablecoin issuer ran into trouble amid intense scrutiny from authorities, according to a person familiar with the issue. Binance has been probed by the Securities and Exchange Commission, Commodity Futures Trading Commission, Justice Department and the Internal Revenue Service. Binance Holdings is looking at whether to sever ties with intermediary firms such as banks and services firms and is reassessing venture-capital investments in the US, according to the person, who asked not to be identified discussing details that had not yet been made public. It will consider de-listing tokens from any US-based projects, including Circle’s stablecoin USD Coin, the person said. Binance Holdings isn’t authorized to serve crypto customers in the US. Instead, there’s Binance.US, a far smaller exchange that claims to be independent and said it has no plans to leave the US.

Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD).

Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors' risk assessment for cryptocurrencies.

The U.S. Securities and Exchange Commission (SEC) wants to sue Paxos for issuing and listing stablecoin Binance USD (BUSD) to the benefit of its top-rival stablecoin Tether (USDT), whose market capitalization has risen to multi-month highs. 

Bitcoin (BTC) hit a six-month high of $24,800 on Feb. 16, registering a double-digit surge of 15%. 

USD Coin (USDC) issuer Circle has released an accountant-verified report of its treasury reserve holdings backing more than $44.5 billion worth of tokens currently in circulation.

Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27 leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer link” posed as a virtual land mint.

The notorious failure of the Terra USD (UST) affected the crypto market in general, but it’s the algorithmic stablecoins alike that took the harshest punch. Since its peak in April 2022, the market share of algorithmic stablecoins shrank almost tenfold. 

A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December.

Non-fungible tokens (NFTs) are becoming an increasingly popular solution to serving defendants in blockchain-based crimes that would otherwise be unreachable, according to crypto lawyers.

Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet.

Stablecoin USD Coin (USDC) has grown in popularity since the collapse of FTX and now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether (USDT) according to data from blockchain analytics firm Glassnode.

Japanese regulators are reconsidering some major cryptocurrency restrictions related to the use of stablecoins like Tether (USDT) or USD Coin (USDC).

Stablecoins play a very critical role in the crypto economy today and despite the recent run-down in the broader market, stablecoin volumes continue to dominate most exchanges.

After the collapse of Terraform Labs’ cryptocurrency, Terra (LUNA), and its stablecoin, Terra (UST), the notion of “algorithmic stabilization” has fallen to a low point in popularity, both in the cryptocurrency world and among mainstream observers.

Humanitarian groups have increasingly used blockchain technology to solve problems with lack of banking or inadequate identity verification in developing or war-torn nations.

United States-based cryptocurrency exchange Coinbase has asked its customers to convert their Tether-issued USDT (USDT) stablecoin to USD Coin (USDC), a USD-pegged stablecoin issued by Circle and co-founded by Coinbase in 2018.

Bitcoin (BTC) bulls regained some control on Nov. 30 and they were successful in keeping BTC price above $16,800 for the past 5 days. While the level is lower than traders’ desired $19,000 to $20,000 target, the 8.6% gain since the Nov. 21, $15,500 low provides enough cushioning for eventual negative price surprises.

If early November’s FTX collapse was crypto’s “Lehman moment” — as more than a few pundits have suggested — will the FTX contagion now spread to stablecoins? After all, Tether (USDT), the market leader, briefly lost its United States dollar peg on Nov. 10. In normal times, this might have raised alarm bells.

Binance crypto exchange announced on Nov. 17 that deposits of Solana-based USDT and USDC have been “temporarily suspended until further notice” on the platform.

Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance.