ICYMI: Circle denies rumors USDC stablecoin is troubled amid market downturn
The first post, titled ““USDC has always been backed by the equivalent value of U.S. dollar denominated assets; USDC reserves are kept in the management and custody of leading U.S. financial institutions, including BlackRock and Bank of New York Mellon,” the post read, before launching into a lengthy disclosure on Circle’s reserves and procedures.
Allaire went on later in the thread to add: “It's understandable why some users would be paranoid given the history of hucksters in crypto. We have always tried to hold ourselves to the highest standards afford to us. That's enabled us to work with regulators, top-tier assurance firms, and leading FIs.”
He concluded by saying that crypto payments company Circle was"in the strongest position it has ever been in financially, and we will continue to increase our transparency.”In mid-June, Circle
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Day Trips: “Peace Circle,” GrapevineDAY TRIPS: The 'Peace Circle' is a reminder of the Native Americans' struggle for a homeland against the flood of white settlers.
Read more »
KuCoin CEO dismisses rumors of halting withdrawals, reserves right to legal actionCryptocurrency exchange KuCoin today denied “rumors” suggesting that the company might halt withdrawals owing to losses suffered amid the recent market turmoil.
Read more »
Top stablecoin Tether slashes commercial paper holdings amid crypto gloomTether, the world's largest stablecoin, said on Friday it had cut its commercial paper holdings by around 58% as part of an earlier commitment to reduce its exposure to riskier assets.
Read more »
Biden Official Says US Government Could Pass Stablecoin Rules by End of YearA Biden administration official tells CoinDesk that the U.S. federal government is working on stablecoin legislation with Congress that could become law by the end of the year.
Read more »
Coinbase plans to expand into more European markets, despite downturnCoinbase Global said in a blog post that it was planning to expand in Europe, despite a digital asset market downturn.
Read more »
Meta to Shutter Novi Crypto Payments Wallet in September, Ending Libra Saga.Meta’s Libra stablecoin experiment is all but over. The social media company plans to shutter Novi, its digital wallet payments pilot, on Sept. 1.
Read more »