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Coinbase and Circle have redefined their relationship, according to identical announcements on the Coinbaseand Circle blogs on Aug. 21. The two organizations jointly launched the USD Coin (USDC) stablecoin and have until now governed the token through the Centre Consortium.The Centre Consortium “will no longer exist as a stand-alone entity,”
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“I really do believe PayPal grows the pie for us,” McDonnell said in an interview with CryptoX. “Crypto is so small today compared to the overall financial world. And, so, getting a lot of people in, whether they come through the PayPal door, or some other door, a lot of
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Recent regulatory actions by the United States Securities and Exchange Commission (SEC) have sparked concerns about the safety and reliability of stablecoins like USDC and DAI as substitutes for fiat currencies. Amid this, Everlodge, a project
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In response to a shrinking market share and increasing competition, Circle is strengthening its position with a $1 billion cash buffer to counteract challenges posed by dominant non-crypto entities like PayPal. Circle’s USD coin faces market pressure The
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In the most recent episode of The Market Report, analyst and writer Marcel Pechman delves into the topic of crypto exchange Binance’s proof-of-reserves. This report reveals a significant decline in USD Coin (USDC) balances, plummeting from $3.4 billion on March 1 to a mere $23.9 million by May 1. According to
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Circle’s CEO, Jeremy Allaire, unveiled that approximately 70% of USDC adoption occurs outside the United States. Despite the perception that USDC primarily caters to the US market, emerging economies and developing regions emerge as strongholds for this
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USD Coin (USDC) issuer Circle has released a beta version of a multiparty computation (MPC) wallet service, according to an Aug. 8 announcement. The new service will allow developers of decentralized finance (DeFi) apps, Web3 video games, e-commerce services and other blockchain applications to create customized wallets specifically for their
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“This new platform marks the first step for Circle’s Web3 services as we work to ease common pain points for developers, remove friction from value exchange, deliver more seamless user experiences and help drive blockchain-powered wallet adoption,” Jeremy Allaire, chief executive of Circle, said in a statement. Source
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Cryptocurrency exchange Binance released its latest proof-of-reserves (PoR) on Aug. 1, offering transparency into its crypto reserves. However, the movement of its USDC reserves at the time of Silvergte's collapse caught many people’s attention and became a topic of discussion on X.The latest reserve audit suggests Binance holds more than
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Coinbase CEO Brian Armstrong’s comments to a question about the USD Coin (USDC) stablecoin during the company’s second-quarter earning calls raised some eyebrows. While commenting on the market cap of USDC, Armstrong quipped that Binance moved some of its funds from USDC into another stablecoin, but despite that, the market cap
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