Circle, the company behind USDC, the second-largest stablecoin in circulation, recently confirmed that its cash reserves worth $3.3 billion(alleged 9.8 billion from Deloitte audit ) have been stuck with Silicon Valley Bank (SVB), which was taken over by regulators and…
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Coinbase pauses USDC to USD for the weekend – Puts investors in worry
Coinbase temporarily pausing USDC:USD conversions over the weekend possibly due to its Circle’s Silicon Valley bank exposure USDC was one of the most trusted stablecoin and with Circle’s undisclosed exposure puts investors at risk. With no prior warning, Coinbase decided…
Binance has temporarily suspended auto-conversion of USDC to BUSD – Potentially due to Circle-Silicon Valley Bank exposure
As per Binance notification on twitter, Binance has temporarily suspended auto-conversion of USDC to BUSD due to current market conditions, specifically related to high inflows & the increasing burden to support the conversion. USDC( Circle) is in the center of…
Victim of Crypto Theft Fights Back: New Yorker Sues Coinbase for $96,000 Loss and Negligence
Jared Ferguson, a New York resident, is suing Coinbase for $96,000 worth of stolen cryptocurrency from his Coinbase wallet. He claims that the company is responsible for the theft and filed a complaint in San Francisco’s U.S. District Court on…
Empowering Crypto Investors: Binance Joins Forces with Law Enforcement in Powerful Anti-Scam Campaign
Binance, one of the world’s largest cryptocurrency exchanges, has announced a joint anti-scam campaign with law enforcement agencies to crack down on fraudulent activities in the cryptocurrency industry. The campaign is aimed at educating users on how to identify and…
Robinhood Launches Crypto Wallet for iOS with Support for Bitcoin, Ethereum, Dogecoin, SHIB, and Polygon
Robinhood, the popular trading app, has announced the launch of a cryptocurrency wallet for iOS users supporting six crypto tokens, including Bitcoin, Ethereum, Dogecoin, SHIB and Polygon (MATIC) tokens. This move is part of Robinhood’s efforts to expand its offerings…
Bitcoin and Ethereum are here to stay- Circle CEO Jeremy Allaire
The Wall Street Journal has reported that the SEC is investigating whether stablecoin issuance violated investor protection laws, marking the latest hit to an industry that has been rattled by layoffs and bankruptcies. Stablecoins are digital tokens that are pegged…
Coinbase launches “Crypto435” campaign to grow crypto advocacy and to make your voice heard
Coinbase announce’s the launch of Crypto435, a grassroots campaign aimed at promoting pro-crypto policies. It is the perfect opportunity to sway opinions in all 435 Congressional Districts across the United States, and now is the time to act.’ Link to…
Banking regulators would be better for overseeing stablecoins than the SEC – Circle’s CEO
According to the Jeremy Allaire, CEO of Circle, banking regulators would probably be more effective in providing oversight for stablecoins. He also expressed his general agreement with the SEC’s proposal for a qualified custodian. During an interview with Bloomberg yesterday,…
Binance Braces for Potential Fines from US Regulators
In the past few weeks, there have been several notable regulatory actions targeting the crypto industry. These include the UK’s Financial Conduct Authority (FCA) banning Binance from operating in the UK, China’s intensified crackdown on mining and trading, the US Securities…