Circle’s revolutionary cross-chain USDC transfer protocol goes live
Circle, the company behind the US Dollar Coin (USDC), has announced the launch of its mainnet protocol that enables users to seamlessly transfer USDC between Ethereum and Avalanche. This revolutionary Cross-Chain Transfer Protocol (CCTP) eliminates the need for USDC bridges, simplifying transactions and enhancing security for users. A solution to fragmentation The new CCTP aims […]
Circle CEO is blaming the United States for USDC’s woes
Circle CEO Jeremy Allaire has attributed the declining market capitalization of USD Coin (USDC) to increased regulatory scrutiny in the United States. Amid the recent collapse of the FTX exchange, a banking crisis, and USDC’s temporary depegging, Allaire expressed concerns about the US banking system and regulatory environment during an interview with Bloomberg TV. Investor […]
Circle’s access to NY Fed’s reserve repurchase program at risk due to new rules
The Federal Reserve Bank of New York (NY Fed) has recently made changes to its counterparty criteria for its reverse repurchase program (RRP), which could potentially prevent Circle, a stablecoin issuer, from accessing the sought-after facility. According to a NY Fed press release, funds registered as “2a-7 funds” with the Securities and Exchange Commission (SEC) […]
Fortune’s Crypto 40 ranking reveals the brightest companies of the year
Fortune, a well-respected business publication, has released its inaugural Crypto 40 ranking, revealing the brightest and most promising companies in the crypto industry. The list recognizes companies that have withstood the test of time and are built to last for decades, even amid the industry’s most challenging periods. The Crypto 40 comprises eight categories, each […]
Circle takes crypto security to the next level – Here is how
Circle, the leading global financial technology firm, has taken cryptocurrency security to a whole new level. The company is known for its stablecoin, USDC, which is backed 1:1 by the US dollar. This stablecoin has proven to be a game-changer in the world of digital finance, providing users with a seamless and secure way to […]
USDC-issuer Circle submits applications to become a licensed crypto provider in France
The recent failure of the US banking system had a significant impact on the popular stablecoin USDC, causing its issuer—Circle—reserves, to become stuck at Silicon Valley Bank. Nonetheless, Circle wasn’t deterred and recently announced it had submitted applications for a license to enter the European market as an e-money provider in France and as a […]
Circle works tirelessly to restore USDC liquidity operations
The stability of a banking system is essential to the global financial system and the operations of every fiat-backed stablecoin. The recent failures of Signature Bank and Silicon Valley Bank have caused concern in the crypto industry, leading to the depegging of the USDC stablecoin from $1. In response to this crisis, Circle, the issuer […]
Circle reveals $3.3 billion in USDC reserves remain at insolvent Silicon Valley Bank
Concerns are rising within the cryptocurrency industry following the revelation that $3.3 billion of the approximately $40 billion in USDC reserves remain at Silicon Valley Bank (SVB). This news comes after wires initiated on Thursday to remove balances were not yet processed, indicating that a significant portion of the stablecoin’s reserves is still held by […]
MakerDAO urgently requests proposal to mitigate risks to protocol amidst USDC depegging
On March 11, MakerDAO issued an “urgent executive proposal” to mitigate any risks to the protocol associated with its USDC tail risk exposure. Make DAO has over 3.1 billion USDC in collateral backing its DAI stablecoin. This urgent executive proposal comes on the heels of an extraordinary de-pegging of the USD Coin (USDC) stablecoin, which […]
Circle CEO slams SEC’s latest move against stablecoins
Jeremy Allaire, the founder and CEO of Circle Internet Financial, has criticized the United States Securities and Exchange Commission (SEC) for its recent moves to regulate the crypto industry, including its focus on stablecoins. In an interview with Bloomberg on February 24, Allaire argued that the SEC is not the appropriate agency to regulate stablecoins […]
Circle rejects rumors of receiving SEC notice on USDC stablecoin
Circle has dismissed any speculation that it was given a “Wells Notice” regarding its USD-pegged stablecoin. On February 14th, a tweet from Fox Business reporter Eleanor Terrett (which has since been deleted) alleged that the United States Securities and Exchange Commission had instructed Circle to discontinue the sale of USDC because it was considered unregistered […]
Does Circle’s regulatory complaint against Binance relate to Paxos and BUSD?
Stablecoin issuer Circle raised concerns with the New York State Department of Financial Services last year regarding Binance’s management of reserves for its own tokens, which it claims are not enough to support tokens issued by the firm. What Circle claims The US-based Circle is the issuer of the USDC stablecoin and shares a regulator […]
USDC issuer blames SEC for derailing $9b plans to go public
USDC issuer Circle recently declared that its ambition to become a publicly traded company last year through a $9 billion SPAC merger was denied by the United States Securities and Exchange Commission (SEC). Last month, the agreement between Circle and Concord Acquisition was terminated due to market instability following FTX’s shutdown. However, the acquisition corporation […]
