Cryptocurrency Analysis and News Portal
Several crypto firms have announced they will scale back or outright terminate their relationship with Silvergate Bank following an announced investigation into its alleged involvement in the FTX collapse.Amid news that crypto exchange Coinbase would no longer accept or initiate payments with Silvergate, companies including stablecoin issuers Paxos and Circle
Read More
On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and
Read More
The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire.In an interview with Bloomberg on Feb. 24, the Circle chief executive aired his views on the SEC and its recent moves to clamp down on the crypto industry,
Read More
Circle is presently focused on expanding its staff. However, it also confirms that its plan to go public is not entirely off the table. USD Coin (USDC) issuer Circle has revealed plans to increase its workforce by up to 25% in the current year. The report, which was shared by The
Read More
USD Coin (USDC) issuer Circle plans to increase its workforce by 15–25% in 2023 amid a sea of layoffs across the industry, reported The Wall Street Journal.When a significant chunk of industry-wide firms is laying off staff to mitigate their financial woes, Circle has gone against the tide to hire more people. 41%
Read More
USD Coin (USDC) issuer Circle has denied rumors that it received a "Wells Notice" over its United States dollar-pegged stablecoin.On Feb. 14, a now-deleted tweet from Fox Business reporter Eleanor Terrett claimed Circle had been ordered by the U.S. Securities and Exchange Commission (SEC) to cease the sale of USDC
Read More
New York State’s Department of Financial Services, or NYDFS, reportedly received a complaint from stablecoin issuer Circle regarding Binance’s reserves prior to its crackdown on BUSD.According to a Feb. 13 Bloomberg report, Circle alerted NYDFS in an autumn 2022 complaint that Binance’s reserves were insufficient to support its tokens, seemingly
Read More
Bloomberg reported on Monday that Circle tipped off the New York Department of Financial Services (NYDFS) in the fall of 2022, complaining that blockchain data revealed Binance did not have enough reserves to back up the BUSD tokens it had issued through Paxos. Bloomberg cited a source familiar with the
Read More
As bankruptcy proceedings continue, FTX and affected parties have requested subpoenas for information and documents from close relatives of former CEO Sam Bankman-Fried.A motion filed in the United States Bankruptcy Court for the District of Delaware seeks to glean valuable information from the likes of Gabriel Bankman-Fried and Barbara Fried, the
Read More
According to court documents in the FTX bankruptcy case, the company’s attorneys seek to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, and his parents, Joseph Bankman and Barbara Fried. Additionally, the attorneys intend to question some of Bankman-Fried’s top deputies, including FTX co-founder Gary Wang, ex-Alameda Research CEO
Read More