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Cryptocurrency firm Tether — the issuer of stablecoin, Tether (USDT) — expects to make a $700 million profit in the first quarter of 2023, matching the profits of the last quarter of 2022, Tether chief technology officer Paolo Ardoino told Cryptox at Paris Blockchain Week 2023.“I don’t have the final
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The decision follows a turbulent period during which USDC temporarily lost its dollar peg when key banking partner SVB collapsed. Source
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Circle CEO Jeremy Allaire to save crypto following the collapse of some major mainstream banks, including Silicon Valley Bank. Circle CEO Jeremy Allaire recently disclosed that the USDC stablecoin issuer wants to save crypto from fallen banks. In an interview, Allaire touched on the adjustments the peer-to-peer payments technology company made following Silicon Valley
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“Regulators who tend to fight the last war are certainly on guard right now – looking at banks, including Cross River, to make sure that they are sufficiently capitalized,” Jay Ritter, Cordell professor of finance at the University of Florida, told CryptoX in an interview. Source
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Leading exchange KuCoin participated in a $10 million funding exercise for CNHC to support stablecoin adoption. KuCoin recently led a $10 million funding initiative for offshore Chinese yuan stablecoin issuer CNHC. This investment by the leading crypto exchange’s investment is part of a broader scheme to support stablecoins. In addition to KuCoin’s investor IDG
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As unveiled by Circle, it has started processing its redemption through a new banking partner after it was able to access the funds worth $3.3 billion locked up in Silicon Valley Bank. Circle, the American startup behind the world’s second-largest stablecoin, USDC has revealed details about its operation to its community.
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The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer.KuCoin Ventures has led a $10 million investment into stablecoin issuer and blockchain-based payment service provider known as CNHC.Announcing the news on March 16, KuCoin Ventures said that the
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The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize traditional assets and organize their trade. Number of Licensed Digital Asset Issuers in Russia
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USDC issuer Circle Internet Financial said late Friday it "awaits clarity" from federal banking regulators on the status of its deposits at Silicon Valley Bank, one of the six financial institutions it said are responsible for managing one quarter of the assets backing its $43 billion stablecoin. Original Source
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The decentralized autonomous organization behind the DAI coin previously purchased $500 million worth of notes and bonds. Source
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