Q1 2023 goes down as the period that recorded significant recoveries in the cryptocurrency market. Bitcoin, Ethereum, and other altcoins displayed astounding rallies amid bank runs and Fed’s regulatory crackdown. Out of them all, stablecoins captured the major attention. The USDC brief depegging, due to Silicon Valley Bank (SVB) collapse,
USD Coin (USDC) stablecoin outflows have exceeded $10 billion since March 10. Investors feel that Circle’s USDC stablecoin, with many of them switching to Tether, has reached its 22-month high in market share. When the regulators shuttered the critical reserve banking partner, Silicon Valley Bank, the U.S. payments firm Circle
The leading global payment provider Mastercard is launching the Stablecoin wallet collaborating with the Australian stablecoin platform, Stables. On March 20, Mastercard announced the collaboration. And It’s an attempt to allow the retail customer to use the stablecoin transaction in the APAC region. At the time of launch, Stables only
A recent update from the Circle team regarding USDC operations guarantees the removal of backlogs. Additionally, a request for redemption of USDC has also been made, at the EOD of the U.S. banking sector on March 15th. Update: As of close of U.S. banking operations Wednesday, March 15, we have
The second largest stablecoin USD Coin (USDC) depegged from its $1 parity owing to the shutdown of the US banking giant Silicon Valley Bank on Friday. The failure of this largest bank is registered as the worst banking crash since the 2008 financial crisis. The custom of crypto firms depositing
As the world of cryptocurrency and stablecoins continues to evolve and gain mainstream adoption, the importance of implementing effective anti-money laundering (AML) practices becomes increasingly crucial. By adhering to AML regulations and guidelines, the crypto industry can establish greater credibility and trust among investors and regulators, ultimately leading to a
The market capitalization of cryptocurrency is on the verge of falling below $1 trillion. The peak of the global market cap was witnessed on April 2022, with a $2.67 trillion measure. Further, post the downfall of the algorithmic stablecoin TerraUSD and its sister coin LUNA on May 2022, the market
Crypto exchange Coinbase will disable the trading of Paxos-issued stablecoin Binance USD (BUSD) from March 13 around 12 PM ET. The exchange officially announced the delisting of Paxos-issued stablecoin on Monday on Twitter. We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on
New York regulators are reportedly investigating Paxos, the firm that issues the BUSD and USDP stablecoins. The Pax dollar (USDP) and Binance USD (BUSD), a stablecoin with the Binance name that is made available through a white-label service, are examples of Paxos’ stablecoins. Recent allegations about the federal bank regulator,
Kevin O’Leary, the Shark Tank famous television celebrity has made a sensational comment about the existing cryptocurrencies. On the wolf of all streets podcast show with Scott Melker, Kevin mentioned many of the cryptocurrencies would reach zero in no time. The session titled “Every Unregulated Token Will Go To Zero”
