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Poly Network Hacker Returns $4.7M in Funds — Attacker Asks Devs to Unlock Frozen Tether Stash
11.8.2021
On Tuesday, the decentralized finance (defi) project Poly Network was hacked for over $600 million in digital assets. The attack was the largest defi hack to date eclipsing all of 2021’s defi hacks combined. The very next day, however, the hacker started to send funds back to the Poly Network...
Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin
11.8.2021
The Coinbase website now states that USD Coin is “backed by fully reserved assets,” contrary to the now-removed claim of “backed by U.S. dollars in a bank account.”
The $62B Stablecoin Giant Tether Publishes Assurance Report Reviewed by Auditor Moore Cayman
10.8.2021
Tether Limited has released an assurance report reviewed by Moore Cayman, an auditor of investment funds and digital assets. The report provides a breakdown of the company’s assets and reserves which Moore Cayman claims are around $62.7 billion as of June 30. Tether Publishes Assurance Report...
USDC Issuer Circle Set to Turn Into Full-Reserve National Commercial Bank
9.8.2021
Jeremy Allaire. Source: a video screenshot, Youtube, IMF
US-based crypto company Circle, the issuer of the second-most popular stablecoin USD Coin (USDC), said it's on a journey towards becoming "a national digital currency bank."
Per today's post by the company's CEO Jeremy Allaire,...
Circle and Unstoppable Domains to introduce username-based USDC payments
4.8.2021
USD Coin holders will soon be able to transfer the stablecoin via human-readable addresses across supported wallets and crypto exchanges
Crypto.com enables withdrawals of USDC for users worldwide
3.8.2021
Support for withdrawals comes shortly after Crypto.com launched support for USDC deposits, thanks to a new partnership with USDC issuer Circle
Crypto Volatility Index 2.0 Rolled Out With USDC Support
29.7.2021
Users can now open USDC positions and stake CVI USDC through the index
Bybit Contributes $19.3M in ETH, USDC & USDT to BitDAO
28.7.2021
To make any sector grow, finance is the backbone. So is true for the Decentralized Finance sector as well. Even though it may not deal with the requirements of any tangible goods or raw materials, the presence of digital assets, i.e., cryptocurrencies itself, stands testimony to date for the growth...
Crypto Fintech Eco Raises $60M for High-Yield USDC Savings App
27.7.2021
The a16z-backed Eco, where users’ deposits are loaned out in USDC, says it’s keeping an eye on the BlockFi case
Crypto derivatives exchange Bitget to list USDC as collateral for margin trading
27.7.2021
The Singapore-based crypto trading platform has inked a partnership with stablecoin issuer Circle
Paxos Standard Presents Assets Backing Its Stablecoins
23.7.2021
Paxos, a regulated blockchain company, recently presented the basket of resources that back its stablecoins. Paxos Standard (PAX) and Binance USD (BUSD) are reportedly backed almost 100% by cash and cash equivalents. Dan Burstein, CCO of Paxos, harshly criticized Tether and Circle, issuers of other...
Tether promises an audit in 'months' as Paxos claims USDT is not a real stablecoin
22.7.2021
Tether’s general counsel said a full audit is coming in months
Mastercard Collaborates with Circle for USDC
21.7.2021
Circle announced a strategic partnership with Mastercard to employ USDC for the facilitation of converting cryptocurrency to fiat currency. The use of USDC will increase the ability of cryptocurrency businesses and card issuers to allow their customers to spend their crypto assets. At present...
Auditors reveal USDC backing as Jim Cramer sounds alarm over Tether's mad money
21.7.2021
Grant Horton has conducted an audit on USDC’s reserves and Jim Cramer has questioned what's going on with Tether's commercial paper reserves
Mastercard Enhancing Program for Cryptocurrency Wallets and Exchanges
21.7.2021
Payments giant Mastercard has announced that its crypto card program is being enhanced for cryptocurrency wallets and exchanges. The company said, “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with...
Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets
20.7.2021
On July 20, the CEO of Circle Internet Financial LLC., Jeremy Allaire, published a blog post that explains the firm’s dollar-pegged stablecoin is backed by “prioritized trust, transparency, and accountability.” Allaire’s blog post follows a letter from the Centre...
After Three Years, Circle Reveals USDC Reserves
20.7.2021
It took nearly three years for US-based crypto company Circle, the issuer of major stablecoin USD Coin (USDC), that is preparing to go public, to finally reveal how this token is backed.
In their latest attestation report, prepared by auditors at Grant Thornton, the company said that, on May...
USDC Operator Happy After Yellen Calls Stablecoins ‘National Security’ Concern
20.7.2021
Janet Yellen. Source: A video screenshot, Youtube/Credit Suisse
At least one major stablecoin operator has welcomed the news that the American government is set to direct regulators to “act quickly” on fiat-pegged tokens.
In an official statement, the American Treasury Secretary Janet Yellen stated...
Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines
20.7.2021
The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months
Stablecoins Swelled by $13B in 30 Days, Captured 67% of Today’s Crypto Trade Volume
16.7.2021
Over the last few weeks, cryptocurrency markets have fallen in value as most of these assets reached all-time price highs three months ago. Despite the price drops, 2021 has still been an explosive year for crypto gains and fiat-pegged stablecoins have grown massively as well. 53 days ago,...