Coinbase reportedly offered a $3.3 billion credit line to Circle to ensure liquidity for USDC following the FDIC's decision to shut down Silicon Valley Bank.
Circle CEO Jeremy Allaire has stated that his firm may be able to recover all of the $3.3 billion stuck at Silicon Valley Bank. In case the recovery is delayed, Circle will back USDC using external capital if necessary, he added.
Babel Finance hopes co-founder Yang Zhou's crypto-backed stablecoin can help repay over $700 million owed to creditors of the crypto lender.
Jeremy Allaire, the CEO of USDC issuer Circle, believes that the U.S. Securities and Exchange Commission is not the right regulator for stablecoins.
Summary: Paxos will wind down its relationship with Binance for the BUSD stablecoin. BUSD redemptions will continue till at least...
Fintech giant PayPal has reportedly paused working on its stablecoin due to the renewed regulatory crackdown on crypto firms. PayPal was working with Paxos, which is currently facing a probe by the NYDFS.
Tether's latest attestation report revealed that the USDT issuer's assets exceeded its liabilities. CTO Paolo Ardoino claimed that the firm made a profit of $700 million in the last quarter of 2022.
USD Coin issuer Circle has announced that its recently launched Euro-backed stablecoin Euro Coin will available on Solana. The company...