BTG Pactual, the investment bank Major in Latin America, just recently announced that it would launch its own stablecoin called BTG Dol. The bank has issued an official statement (1) indicating that the stablecoin will operate on the Polygon network and is currently available to customers. The blockchain network that the bank has decided to … Read more
Circle, the company that issues USDC stablecoins, was dealt a significant blow earlier this month when the Silicon Valley Bank (SVB) went bankrupt. SVB was Circle’s primary banking partner, and that partnership’s failure resulted in significant withdrawals of the USDC stablecoin. The USDC stablecoin at one point lost its USD peg, which caused more concerns; … Read more
The Swiss Banking Association (SBA) recently published a white paper (1) in which they advocated the issuing of a joint deposit coin on a public blockchain. This token would be used to record deposits made by users. The SBA made a note of the widespread agreement that stablecoins should be issued by recognized organizations and … Read more
KuCoin recently took the initiative to lead a funding operation raising $10 million for an offshore Chinese yuan stablecoin issuer, CNHC. This investment made by the most prominent cryptocurrency exchange is a component of a larger plan to promote stablecoins. Circle was among the many prominent industry investors who contributed to the CNHC investment round. … Read more
Circle claims that most of the reserves backing its USDC stablecoin are in the form of United States Treasury Bills. The cryptocurrency startup Circle, the issuer of the stablecoin known as USD Coin (USDC), recently announced that the USDC reserve risk that the company’s important customers were nursing had been removed. According to what was … Read more
Stablecoins are coming under increasing pressure due to the current crisis, which has witnessed the failure of three large cryptocurrency-backing institutions in the previous few days. Binance has begun changing the remaining portion of its one billion dollar industry recovery funds into other crypto assets as a direct reaction to the latest collapse of at … Read more
The worst-case scenario for cryptocurrency investors is when a rapid shift in the market conditions triggers widespread panic and a run on the market. The combined effect of these two events typically results in price fluctuations that cannot be controlled and significant financial losses for investors. The recent announcement that Circle could not withdraw its … Read more
Circle, the company that issued the USDC stablecoin, said late Friday that it still has about (1) $3.3 billion in reserves at Silicon Valley Bank out of a total of $40 billion. Once a panicked public rushed to withdraw their money from the high-tech lender, the stock price plummeted. On Friday, 48 hours after one … Read more
The regulatory environment surrounding cryptocurrencies in the United States has been fraught with ambiguity for some time. On March 8, the Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, testified before the Senate Agricultural Committee that most stablecoins are commodities. Curiously, he also includes Ethereum (ETH) in this group, and he adds that … Read more
After the regulatory crackdown carried out by U.S. authorities, Binance Dollar (BUSD) experienced a precipitous drop in the number of active addresses. The Binance ecosystem has seen a string of declines in recent weeks, and this latest one is the latest in that trend. Regression Clearly Visible at the BUSD Active Address The total … Read more