Coinbase Analysts Optimistic Ahead of Q2 Earnings, but Warn About USDC Risks and Lower Trading Volumes
The crypto exchange reports earnings for the second quarter of 2023 after the market closes on Thursday. Source
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USDC
US defense bill may be ‘problematic’ for USDC and stablecoins: Analysts
Circle’s USD Coin (USDC) and other stablecoins could potentially face a compliance nightmare if a new national defense bill that passed in the United States Senate makes it all the way.In a July 31 investment note seen by Cointelegraph, Berenberg analyst Mark Palmer explained that a recent amendment to the
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Latin American Crypto Firm Bitso Joins Stellar Network (XLM) to Boost International USDC Payments
“In recent years, we have seen an increase in cross-border payments globally for both international commerce and remittances. By leveraging blockchain technology and crypto assets, we can significantly improve settlement times and overall costs,” Santiago Alvarado, SVP of Institutional Product at Bitso, said in the statement. Source
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Circle freezes $63m in USDC in response to Multichain breach
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Following the detection of a substantial token movement from Multichain’s bridging networks to an undisclosed address, the platform has temporarily suspended its services. On-chain investigators had previously speculated about a potential multimillion-dollar exploit as they observed
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SAP Clients Testing Cross-Border Payments with Circle’s USDC
Customers will receive a designated amount of USDC along with an invoice, enabling them to experience the benefits of fast, affordable, and reliable cross-border payments. In a significant move towards revolutionizing cross-border payments, German software giant SAP SE (ETR: SAP) has made an exciting announcement in this sphere. In a blog
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Circle Resumes Purchases of US Treasury Bills for USDC Reserve
Circle’s reserve fund opted to rotate all its holdings into tri-party repos involving systemically important banks like Goldman Sachs, BNP Paribas, Bank of America, and Royal Bank of Canada. Stablecoin issuer Circle has made a strategic move by resuming the purchase of US Treasury bills as a reserve asset for its
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USDC Issuer Circle Restarts U.S. Treasury Purchases in BlackRock-Managed Stablecoin Reserve Fund
As of June 20, Circle added $2.2 billion of T-bills to the fund, while repos constituted some 90% of the fund’s $24.7 billion in assets, according to BlackRock’s website. The company held an additional $3.5 billion in bank deposits, the “vast majority, over 90%” stored at the Bank of New
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USDT, USDC, DeFi Likely to Be SEC’s Next Targets in U.S. Crypto Crackdown: Berenberg
MicroStrategy (MSTR) shares are well positioned to outperform, given the company’s focus on acquiring and holding bitcoins, as the regulatory clampdown will likely give rise to a U.S. crypto industry that is more bitcoin-focused than it has been in recent years, the report added. Source
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Binance announces support for USDC deposit and withdrawal via Arbitrum
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance crypto exchange has announced support for direct deposit and withdrawal of the USDC stablecoin via the Arbitrum network. Arbitrum USDC deposits and withdrawals Following the integration of USD Coin (USDC) on the Arbitrum One network, on
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Coinbase raises USDC rewards to 4% amid SEC regulatory scrutiny
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied San Francisco-based crypto exchange Coinbase has raised its reward rates for USDC, a stablecoin tied to the US dollar. Users can now earn a 4% annual yield (APY) on their USDC holdings. The latest development marks a
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