This Is How Circle's USDC Will Outcast Tether's USDT

In the last 24 hrs the star cryptocurrency, Bitcoin has plunged from its crucial support level of $23K. Also it happens to be the second day that Bitcoin is flashing negative marking.

Timeline of Usd-coin, Tether

The host of the popular crypto channel Coin Bureau is predicting one US dollar-pegged stablecoin is poised to run the market. Coin Bureau host Guy Turner tells his 2.2 million subscribers that Circle's USD Coin (USDC), the second-largest stablecoin by market cap, is on its way to overtaking Tether's USDT as the world's dominant stablecoin.

USD Coin (USDC) founder Circle attended the World Economic Forum (WEF) to explain “why USDC is a dollar with super powers.” The WEF took place between January 16 and January 20, 2023, in Davos and hosted over 1,500 industry leaders as well as government representatives from around the globe.

Cross-chain bridges accounted for the loss of billions of dollars from crypto hacks in 2022. Circle's USDC new protocol is a workaround on cross-chain bridges that is cheaper and more efficient.

USDC

$0.996700

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Circle, who for years partnered with firm Grant Thornton for its audits, makes the switch to Deloitte as various accounting firms express concern over working with crypto companies

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.

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.

Following directives from the Ontario Securities Commission (OSC), Crypto.com has announced its plans to delist USDT from its platform for all users in Canada. The January 31st deadline was made public to Crypto.com users in Ontario, sparking wide FUD on the fate of the world's largest stablecoin.

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.

Tether USDT processed $18.2 trillion worth of transactions in 2022, ahead of traditional payment processors like Visa and Mastercard. The post Tether's 2022 Settlement Volume Flips Visa and Mastercard appeared first on BeInCrypto.

Since an 11 January report revealed Tether's [USDT] plans to delist from the Canadian market, the stablecoin has become the subject of Fear, Uncertainty, and Doubt (FUD). Tether, however, continued to attract interest from sharks and whales despite the latest update until press time.