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The dollar-pegged stablecoin has failed to win back investors following last week’s depegging. Circle Internet Financial's USDC stablecoin massively depegged from its intended $1 price on Friday night after Silicon Valley Bank (SVB), where Circle parked over $3.3 billion in treasury assets, was shut by regulators. Source
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In order to support its price, Ripple decided to stop selling XRP and embark on buying back the tokens in the second and third quarters this year.David Schwartz, CTO of the company, has admitted that community votes could force Ripple to burn its entire XRP holdings.Ripple chief technology officer confirmed
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Cryptocurrency exchange Gemini burnt about one-fifth of its Gemini Dollar (GUSD) stablecoin total supply on Dec. 3.Whale Alert — a Twitter account dedicated to tracking large cryptocurrency transactions — reported on Dec. 3 that 1,035,020 GUSD were burnt in a single operation. This number of tokens is equivalent to
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