Circle to Integrate Native USDC on Arbitrum Blockchain
Circle will introduce USDC natively on the Arbitrum blockchain. This step is expected to enhance transaction speed and affordability, fostering innovation in the DeFi ecosystem. In a recent announcement, Circle revealed plans to natively launch the US Dollar Coin (USDC) official version on the Arbitrum network. This move is part of a strategic collaboration with […]
Market volatility and redemptions destabilize major stablecoins
Almost all significant stablecoins lost their dollar pegs after the FTX scandal, but most have gained them again as markets have stabilized. Stablecoins have been affected by this week’s significant market volatility, which was brought on by the failure of the FTX exchange, with many of them momentarily de-pegging. The fall in cryptocurrency prices this […]
Rune Christensen Suggests Selling off $3.5 Billion in USDC Reserves
Vitalik Buterin, who is bullish on Ethereum, branded the suggestion made by Rune Christensen a “bad idea.” Recently, Rune Christensen, a co-founder of MakerDAO, suggested eliminating all USDC from the DAI stablecoin’s peg-stability module. He advised that the $3.5 billion of USDC contained inside be utilized to purchase ETH instead. Even though such a transfer […]
Circle freezes 75,000 USDC linked to blacklisted Tornado Cash addresses
Stablecoin issuer Circle has frozen more than 75,000 USDC linked to unsuspecting Tornado users and has blacklisted the smart contract addresses linked to the users’ accounts. According to crypto data aggregator Dune Analytics, Circle, the creator of the USD Coin (USDC) stablecoin, frozen over 75,000 USDC worth of funds linked to 44 Tornado users’ addresses […]
Here’s How Circle’s USDC Outperforms Tether’s USDT
Circle’s stablecoin USDC appears to be waxing strong as it surpassed Tether’s USDT in numbers of daily transactions on Ethereum for the first time, according to Nansen. Alex Svanevik, the CEO of AI, highlighted on Twitter . This is the most recent in a series of bad events for Tether. USDT continues to lead in […]