At the start of the week, the trading session took a toll on USDC and Other Cryptocurrencies Following United States Authorities’ Measures to Mitigate Silicon Valley Bank’s Collapse. Circle’s USDC Reserves at Risk: SVB’s Closure by California Department of Financial Protection and Innovation Sends Stablecoin Plummeting to 0.87 dollars. “Circle’s USDC Reserves Further Under Scrutiny…
Circle Internet Financial Limited is a prominent stablecoin firm. From $40B of their reserves, $3.3B is still at SVB. The Silicon Valley Bank, which is one of the most popular banks, has recently collapsed. Investors were quick to respond to the collapse of SVB, which was evident when the USD coin moved away from the…
Djed (DJED), an over-collateralized stablecoin based on the Cardano network has been attracting many investors lately. The investors have been investing heavily in Cardano as they have been providing more support to the DJED stablecoin. DJED has Witnessed Great Input It was just recently when the DJED stablecoin was launched. Just as the token was…
Data from Nansen on Sunday showed that there was a slowdown in the number of withdrawals from Singapore-based crypto exchange Huobi. This was despite a recent drop in the price of the USDD stablecoin of Tron. On Friday, data had shown that Huobi withdrawals in 24 hours had been a whopping $60.9 million. It was…
Binance US has made a major announcement that is extremely promising for the Ethereum community and the Ethereum blockchain. The officials at Binance US have announced that they have removed trading fees for Ether (ETH) transactions. With immediate effect, the ETH transactions would incur no trading fees. Binance US’ Zero Fee Price Model Continues The…
Metaplex’s Chief Executive Offices and Co-founder Stephen Hess declared moves to lay off multiple individuals following the FTX collapse. Metaplex is a Solana non-fungible token (NFT) protocol. The CEO added that the platform has to let employees go, though the FTX debacle didn’t directly affect its treasury. However, it’s noteworthy that the protocol hasn’t specified…
MakerDAO recorded a substantial improvement in performance within the last 30 days. Messari data showed that the borrow, withdrawal, and deposit volume noted significant growth over the previous month. The deposit volume recorded a 15.35% surge. Moreover, the net borrows and withdrawal volume increased by 1.70% and 40.36%, respectively. This activity uptick attracted whale attention….
Aave is among the top lending protocols within the cryptocurrency space. The project has concluded voting that would see it launched on zkSynch. Remember, zkSynch is a zero-knowledge platform testnet. Moreover, voters approved the deployment by a robust margin, targeting less expensive and quicker transactions. Nevertheless, the latest reports showed the community was ready for…
Binance plans to auto-convert contending stablecoins USDC, TUSD, USDP, and incoming stablecoin deposits into BUSD. Also, the exchange will remove USDC pairs from September 26. The leading exchange stated that the auto-conversion functionality is for capital efficiency and liquidity. The world’s leading crypto exchange by volume, Binance, revealed plans to auto-convert user USDC and other…
The past few months have seen several cryptocurrency companies shut down and winded up over bankruptcy. A crypto lending company, Holdnaut, fell victim to the market situation three weeks ago after the debt ratio rose more than the asset. The Singapore-based firm suspended its customers from withdrawing their funds and performing operations on its platform….
On August 25th, Jay Clayton, former Chairman of the US SEC (Securities Exchange Commission), weighed in on crypto regulation in the country in an interview with the Wall Street Journal. He agreed that getting lawmakers to agree on regulations for digital currencies is not an easy task. Clayton Ask SEC To Issue Guidelines For Tokenized…
The global cryptocurrency space has embarked on a progressive and ever-growing adoption and interest in virtual currencies. Cryptocurrencies and blockchain are the future of currencies and other denominations. A high-profile crypto exchange platform, Bitstamp, has alleged that it has recorded tremendous interest in crypto on its medium. Despite the strict regulations on the crypto industry,…
