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Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (SVB).Speaking with Bloomberg Markets on March 14, Allaire said that he believed that “if not everything, very
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The partnership of the CFTC with the industry professional seems to be in stark contrast with the other US agencies, such as the SEC, which has presented itself very coldly towards cryptocurrencies. The Commodity Futures Trading Commission (CFTC) declared the former White House Official Carole House as the new chair and
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The Commodity Futures Trading Commission (CFTC) has signaled receptiveness to the crypto and blockchain sector after including several executives from the space as part of its new Technology Advisory Committee (TAC). CFTC commissioner and TAC sponsor Christy Goldsmith Romero announced the updated membership via a public statement on March 13,
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Caroline Hill, the director of global policy and regulatory strategy for stablecoin issuer Circle, has placed some of the blame from the recent collapse of banks tied to crypto on traditional financial institutions rather than digital assets.Speaking at a South by Southwest (SXSW) panel on regulating cryptocurrencies in Austin, Texas
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Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire
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According to Circle, the bulk of its reserve for the USDC stablecoin is domiciled in US Treasury Bills. Crypto startup Circle, the issuer of the USD Coin (USDC) stablecoin has announced that the USDC reserve risk being nursed by the firm’s key customers has been removed. As shared in a
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Circle has revealed that Cross River Bank — recognized for its services to fintech and crypto firms like Visa and Coinbase — is now its new commercial banking partner for producing and redeeming USD Coin (USDC).In addition, Circle has “expanded relationships” with other banking partners to assist with USDC redemption,
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Signature’s sudden failure leaves a key part of the crypto industry’s backend infrastructure in limbo: Signet. It’s a blockchain-based real time payments system that’s supposed to work 24/7. Circle, Coinbase and many crypto trading firms used Signet. But with the death of Signature, Signet, too, has gone kaput. Original Source
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On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle significant volume” and that the firm
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