Circle Cuts Workforce, Ends Certain ‘Non-Core’ Activities; Will Continue Hiring Globally
Stablecoin issuer Circle has cut its workforce slightly to maintain a “strong balance sheet,” the company said Wednesday.
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Circle Was Top Depositor Aided by SVB Government Rescue: Bloomberg
The FDIC guarantee included over $3.3 billion the USDC stablecoin issuer held at the lender.
New Stablecoin Issuer Raft Is Eschewing Fiat for Its Financial Backing
Its R stablecoin is collateralized by one crypto asset: liquid staking leader Lido’s staked ether (stETH).
Crypto Market Recovery Unlikely Until Stablecoin Universe Stops Shrinking: JPMorgan
Tether’s market cap has been growing at the expense of rival stablecoins such as USD Coin, the report said.
Centralized Stablecoins Are Problematic. Is a Decentralized Alternative on the Way?
USDC and USDT both have issues that truly decentralized, blockchain-based protocols are designed to solve.
Uniswap Topped Coinbase’s Trading Volume in March During USDC Depeg, U.S. Crackdown
The DEX, however, has been unable to maintain elevated periods of trading volumes in the past, CCData noted.
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.
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.
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 and Switzerland’s central bank bailing out Credit Suisse to the tune of $54 billion, the echoes of prior crisis in 2008 and 2013 are loud.
Over Two Billion USDC Stablecoin Burnt in Single Day, Data Shows
USD Coin holders are not rushing back to holding the token just yet.