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USDC
USDC's Depeg Laid Bare the Risks Traditional Finance Poses to Stablecoins
A Moody's analyst examines how the recent banking crisis spilled into crypto, and why alternatives to stablecoins such as tokenized bank deposits and CBDCs may be needed to prevent contagion.
Circle’s USDC Remains Dominant in DeFi as Pressure Eases on the Stablecoin
USDC, the key stablecoin in decentralized finance, temporarily lost its dollar peg earlier this month after the collapse of its key banking partner.
USDC Outflows Surpass $10B as Tether’s Stablecoin Dominance Reaches 22-Month High
Circle's USDC stablecoin saw net outflows surpassing $10 billion since March 10 after the regulators shut down the firm's banking partner Silicon Valley Bank. Many of the investors who fled USDC switched to Tether's USDT stablecoin, driving the token to reach its largest market share in 22 months. "The Hash" panel weighs in on these developments.
USDC Outflows Surpass $10B as Tether’s Stablecoin Dominance Reaches 22-Month High
Rival stablecoin tether (USDT) has reached its largest market share since May 2021 and now represents 60% of all stablecoins in circulation.
Dante Disparte: Bank Failure, USDC And Contagion
The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte. Dante Disparte, the chief strategy officer and head of global policy at Circle Internet Financial, has spoken out about the need for greater collaboration between the cryptocurrency industry and banks. Circle is the co-founder and issuer of USDC, a dollar-backed stablecoin with a market capitalization of US$39.5 billion. However, the stablecoin broke its dollar peg over the weekend after it was revealed that Circle held US$3.3 billion in reserve deposits at SVB. As a result, USDC fell to as low as US$0.8774 before gaining its dollar parity on Monday. Tune in to the latest episode of Word on the Block with Forkast Editor-in-Chief Angie Lau for more.
NFTX DAO Eyes Treasury Rebalancing After USDC Wobbles
The decentralized autonomous organization’s token holders are voting to diversify $2 million of its treasury’s assets amid a turbulent crypto market.
Stablecoins Explained: 3 Things You Need to Know
Stablecoins are meant to provide a predictable haven within the volatile world of cryptocurrency. Former Paxos Head of Portfolio Management and Columbia Business School Adjunct Professor Jesse Austin Campbell explains the use cases and risks you need to know about this type of cryptocurrency.
This Crisis Will Define the Future of Money
The recent collapse of three high-profile banks - Silicon Valley Bank, Silvergate Bank and Signature Bank - has caused worrying outflows at hundreds of regional banks. Now, with the U.S. Federal Reserve creating a new backstop facility reportedly worth $2 trillion, the echoes of crises in 2008 and 2013 are loud.
On-Chain Data Reveals How Trading Firms Worked the USDC Stablecoin Repeg
One wallet made $16.5 million in a day trading tether for USD coin and DAI.
The Banking Crisis Has Been Good for Stablecoin Experimentation
Sovryn, a Bitcoin DeFi protocol, announced a new dollar proxy as others look at alternative models for collateralizing stablecoins amid a banking system crisis.
