Circle: USDC stablecoin is always 1:1 redeemable for US dollars

In a recent report on the state of the USDC economy, Circle devoted a section on the stablecoin “always” being 1:1 redeemable for United States dollars. The post Circle: USDC stablecoin is always 1:1 redeemable for US dollars appeared first on CryptoSlate.

Timeline of Usd-coin

Major markets such as the United States need new statutory definitions of digital assets to provide regulatory clarity for the sector, Jeremy Allaire, CEO of USDC stablecoin issuer Circle said on Monday.

Wormhole network exploiters have transferred $2.9 million USDC to a new Ethereum wallet based on a report by crypto security site, Mistrack. Over 120,000 ETH were previously stolen from Wormhole.

According to Circle's most recent reserve report, around 65% of all USD Coin (USDC) reserves are held as US treasury bills. The post Nearly 65% of USDC reserves are held as US Treasury Bills appeared first on CryptoSlate.

Key Points: According to Circle's most recent attestation report, 30% of USDC's reserves – or $12.79 billion – are invested in its government money market fund, the Circle Reserve Fund, managed by BlackRock.

Binance is addressing the fear, uncertainty and doubt (FUD) centered around crypto exchange platforms after the high-profile downfall of FTX. In a new company blog post, the world's largest digital asset exchange by volume explains why some of the common narratives about it being financially unhealthy are untrue.

MoneyGram (NASDAQ: MGI) is pleased to support our partners at the Stellar Development Foundation (SDF) on the launch of Stellar Aid Assist, which is described as “a first-of-its-kind blockchain-powered aid disbursement system that delivers relief funds quickly, affordably and efficiently to individuals in crisis.

The United Nations refugee agency, the Office of the U.N. High Commissioner for Refugees (UNHCR), is set to start aiding displaced Ukrainians through the USDC stablecoin via digital wallets running on the Stellar ($XLM) network.

On 15 December, the Stellar Development Foundation announced its partnership with the United Nations High Commissioner for Refugees (UNHCR) to provide Ukrainian refugees with cash assistance in the form of USD Coin (USDC) on the Stellar network.

The leading cryptocurrency exchange Binance was caught up with speculations recently following the abrupt suspension of USDC withdrawals from the platform. After about nine hours, however, the exchange also managed to weather the storm after it announced again the resumption of USDC withdrawals.

Cryptocurrency exchange Binance has announced that it is resuming USDC stablecoins after temporarily pausing requests for several hours.  The halt in withdrawals was announced as the world's largest cryptocurrency exchange faces record stablecoin outflows.