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USD Coin (USDC) operator Circle has seen its valuation double to $9 billion after the company revised its merger agreement with Concord Acquisition Corp, a special purpose acquisition company (SPAC) founded in 2020.Circle announced Thursday that it had terminated its previous business combination terms with Concord and reached a new
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The world’s second-largest stablecoin by market capitalization keeps on growing as it erodes the dominance of the current leader, Tether.The stablecoin landscape is a constantly-shifting dynamic but one trend has become clear over the past year or so — Tether’s dominance is diminishing.Its main rival, Circle, has just reached a
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“Flow has emerged as the go-to destination for thriving communities of developers, artists, creators and brands building their own blockchain-based digital media and entertainment experiences,” Jeremy Allaire, CEO and co-founder of Circle, said in a statement. Source
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JPYC, the issuer of a Japanese yen-pegged stablecoin, has raised ¥500 million (about $4.43 million) in a Series A round led by Headline Asia with participation from Circle’s Circle Ventures fund in the latter’s initial capital deployment.Tokyo-based JPYC issues the stablecoin as a prepaid payment instrument in Japan. The company
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Payments fintech company Circle revealed a breakdown of the assets backing the dollar-pegged stablecoin USDC, as part of efforts to ensure transparency and accountability. Assets Backing USDC Stablecoin In an attestation report by major accounting firm Grant Thornton, the company revealed the reserves backing USDC. A total of 22,176,182,251 USDC was in
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A U.S. federal court has granted authorization to the Internal Revenue Service, or IRS, to serve a John Doe summons to fintech firm Circle seeking all information on U.S. taxpayers who traded at least $20,000 worth of crypto assets on its platforms between 2016 and 2020.The summons will apply to
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Payments startup Circle is getting political.The stablecoin issuer is working with the U.S. government to bypass Nicolás Maduro and support the Bolivarian Republic of Venezuela led by Juan Guaidó.Circle is using USDC, the dollar-pegged stablecoin it issues with Coinbase, to distribute relief funds to medical workers and other Venezuelan locals,
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Free money always makes the crypto world go mad, even if people don’t know what the new cryptocurrency will be worth or what it’s good for.The case is being proven out again with Circles, a blockchain-based universal basic income (UBI) project that launched Oct. 16 on Ethereum’s xDai sidechain.Founded by
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Sunday, Aug. 18 — Crypto markets are seeing a strong surge of green, with altcoins posting the strongest gains and Bitcoin (BTC) circling the $10,400 mark.Market visualization. Source: Coin360After yesterday’s correction, BTC is today up nearly 2%, bringing it to $10,393 by press time. While still roughly $1,000 short of
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