Circle, the digital fintech firm most famous as the issuer of the USDC stablecoin and, more recently, Euro Coin, has unveiled the launch of Euro Coin on the Avalanche blockchain. Circle anticipates the launch to be the first of many multi-chain launches for its reportedly fully-backed euro-denominated stablecoin. Like USDC, Euro Coin is designed to…
Stablecoin exchange balance drops below $20B
The volume of stablecoins held on centralized exchanges has fallen below $20 billion—its lowest since April 2021, according to Glassnode data as analyzed by CryptoSlate. According to the chart below, the stablecoin balance across exchanges peaked at over $44 billion in December 2022 when the market was still smarting from FTX’s collapse. However, that figure…
US Congress can use stablecoin bill to strengthen Dollar competitiveness: Circle CEO
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Circle CEO says ‘aggressive regulatory actions’ on crypto caused ‘deep market anxiety’
Ad Circle CEO Jeremy Allaire has warned about the risks facing the crypto market due to exposure to the U.S. Dollar and the regulatory risk in the U.S. financial system. In a March 23 Twitter thread, Allaire said there “seems to be a large-scale risk-off from USD that is exposed to US banks and US…
USDC issuer Circle issues warning about hacked executive account
Ad Stablecoin issuer Circle has warned its community about a fake USD Coin (USDC) airdrop on the Twitter account of its chief strategy officer and head of global policy, Dante Disparte. In a March 22 statement, Circle wrote that any links to offers were scams, adding that a scammer took over Disparte’s account. CEO Jeremy…
USDC issuer Circle seeks regulatory approval in France amid US banking troubles
Ad USD Coin (USDC) issuer Circle has applied to become a licensed Electronic Money Institution and a registered Digital Asset Service Provider (DASP) in France — expanding its operations in Europe. In a March 21 statement, the stablecoin issuer added that registering with the authorities would allow its Euros-pegged stablecoin Euro Coin (EUROC) to become a…
Circle blames SEC for failed plan to go public
Stablecoin issuer Circle blamed the U.S. Securities and Exchange Commission (SEC) for its failed public-listing plan, Financial Times reported on Jan. 25. The USDC issuer said the financial regulator failed to approve its S-4 registration before the expiration of its $9 billion special purpose acquisition company (SPAC) deal. The S-4 registration allows companies to offer…
Tether, Circle deny exposure to FTX, Alameda
The issuers of the two largest stablecoins, Tether and Circle, have distanced themselves from the FTX situation, saying they have no exposure to the struggling crypto exchange or Alameda Research. Tether distances self Tether’s CTO Paolo Ardoino said in response to a Wu Blockchain tweet that the USDT issuer had no exposure to FTX or…
Circle CEO says Binance decision to stop USDC support is good as it increases utility
Circle CEO Jeremy Allaire said Binance’s decision to convert its users’ USD Coin (USDC) holdings to its Binance USD (BUSD)stablecoin is good. Helpful perspective from @wintermute_t , which is spot on. Converged dollar books on Binance — now same as on FTX and Coinbase — is a good thing. USDC utility just increased. https://t.co/QWfMx7f1cZ —…
Netherlands arrests suspected Tornado Cash developer
Dutch authorities arrested an unnamed 29-year-old man suspected to be a Tornado Cash developer in Amsterdam on August 10. According to a press statement issued by the Fiscal Information and Investigation Service on August 12, the man is “suspected of involvement in concealing criminal financial flows and facilitating money laundering through the mixing of cryptocurrencies…