Tag: USDC

Circle Releases December 2022 USDC Reserves Report of $44.5 Billion

Circle has published an accountant-reviewed report. Regarding Reserves for USDC Stablecoin Support, currently valued at over $44.5 Billion Circle released the USDC audit report for December 2022, 44,553,543,212 USDC is currently backed by $44,693,963,701 US dollars held in custody accounts, including 14 different US treasury bills valued at over $23.5 billion. https://t.co/QArIrCwgZS— Wu Blockchain (@WuBlockchain) January 30, 2023 Circle's December 2022 reserves are monitored by Grant Thornton. According to Circle's data, 44,553,543,212 USDC is currently supported by Circle. 44,693,963,701 US...

Coinbase Asks Customers to “Convert USDT to USDC” as it is a More Reliable Stablecoin

Coinbase Exchange Company cryptocurrency in the united statesplease Client converts USDT to USDC, a stablecoin issued by Circle and co-founded by Coinbase in 2018. Switch to a trusted stablecoin: USD Coin (USDC). Now convert Tether (USDT) to USDC with zero fees.https://t.co/OObSqNWdpj— Coinbase (@coinbase) December 8, 2022 The exchange believes that USDC is a much safer alternative. After the FTX crash event and also waived any fees to convert USDT to USDC on the platform. “We believe that USD Coin (USDC)...

Binance and Other Crypto Exchanges Ban USDC and USDT on Solana

Several crypto exchanges are now suspending deposits and withdrawals of USDT and USDC tokens built on Solana after preparing to delist them from exchanges. The incident in which exchanges delisted USDT and USDC tokens built on Solana, but without a clear reasoning, led the community to speculate that it may have been caused by the FTX crisis. Binance then allowed USDT deposits after verification. But there is no further update at this time. “Binance reserves the right to post, modify,...

USDC Owner Circle Declines Circle Yield API Products to 0%

Stablecoin USDC developer Circle has announced that it has cut its annual yield to 0%. Circle reduced product yield to 0% Let's continue with the drama in the crypto market. Circle recently announced that it was cutting its annual yield on its yield products to 0%. EZPR CEO Ed Zitron pointed out that Genesis was the reason Circle cut its yield. $25 million invested in Circle Ed said he had previously analyzed the issue back in June that Circle was...

Apple Pay will support Circle’s USDC.

CircleannounceExpands support for USDC on Apple Pay, allowing customers to pay easily and securely. It also helps customers to buy. You can also use cryptocurrencies using Apple Pay on the exchange of your choice. As we strive to bring more people into Web3 and native dollar digital currency (USDC), excited to launch this new on ramp API for developers to connect Apple Pay to USDC settlement. https://t.co/HpkOwynpFe— Jeremy Allaire (@jerallaire) November 15, 2022 Apple Pay and Circle's payment solutions will...

MakerDAO Community Votes Coinbase Prime as Custodian of 1.6 Billion USDC

Coinbase Prime, the leading brokerage platform for crypto assets. announceOn October 24, it entered into a partnership with MakerDAO to become the $1.6 billion custodian of Stablecoin USD Coin (USDC), of which MakerDAO is the largest single holder. The MakerDAO community voted to approve the moderation. This allows the community to earn 1.5% from USDC while holding funds with Coinbase Prime. The program described the following yield schedule for the USDC onboarded by @MakerDAO:• 1% APY on the first 100...

USDC Supply Drops About $9 Billion since early July

The total supply of stablecoin USD Coin (USDC) has dropped from $55.55 billion to $46.57 billion over the past 90 days, based oninformationof DeFiLlama This means that Circle, the USDC issuer, has burned $9 billion worth of stablecoins during that time. It is the highest volume of USDC burned by Circle in the last 90 days, including $1 billion that was removed from stablecoin supply on the Tron network in early October. Circle burns USDC when users exchange their coins...