US Draft Bill Proposes Framework for Stablecoins
A new draft bill published in the United States aims to provide a regulatory framework for stablecoins. The bill proposes that the Federal Reserve oversee non-bank stablecoin issuers such as…
Banking crisis could push cryptocurrency regulation into gray area
The world has been facing a banking crisis that has caused a great deal of uncertainty and market anxiety. According to Circle CEO Jeremy Allaire, this could lead to increased…
Circle’s Stablecoin USDC Affected by Collapsed Bank
Circle CEO and co-founder Jeremy Allaire revealed that the stablecoin issuer had been able to access its $3.3 billion in funds held with Silicon Valley Bank since March 13. Allaire…
Circle Partners with Cross River Bank for USDC Production and Redemption
Circle, a leading global crypto finance company, has announced that it has partnered with Cross River Bank for producing and redeeming USD Coin (USDC), its flagship stablecoin pegged to the…
Circle’s USDC Reserve Exposure and Potential Risks
Circle is one of the largest issuers of stablecoins, with USDC being the second-largest stablecoin in circulation. As of January 31, 2022, the circulating supply of USDC was $42 billion.…
Circle’s USDC Reserve Mishap Leads to Massive Sell-off
In May 2021, Circle, a fintech company that offers payment and trading solutions, revealed that it had discovered a massive discrepancy in its USDC reserves. Silicon Valley Bank, which was…
Circle Unable to Withdraw $3.3 Billion from SVB, Causing USDC Sell-Off
Circle is a Boston-based fintech company that provides payments and investment services using blockchain technology. USDC is a stablecoin issued by Circle and Coinbase, pegged to the value of the…
Circle’s USDC Reserves Remain Stuck at SVB, Raises Concerns Over Crypto Stability
Circle is one of the leading issuers of USDC, and the company has been on a mission to make it the preferred stablecoin in the cryptocurrency space. However, recent developments…
Citizens Trust Bank Holds $65 Million in USD Coin reserves
Citizens Trust Bank, a financial institution that is regulated by the Federal Deposit Insurance Corporation (FDIC), has partnered with Circle Internet Financial to hold some of its reserves in USD…