Circle
Circle: USDC to Be Backed 100% by Cash, US Treasurys by September
By September, Circle announced its stablecoin USDC would be 100% backed by cash and short-term U.S. government Treasurys. This following the USDC developer revealing in July only 61% of tokens were backed by cash and money-market funds, amid plans to go public via a SPAC deal that would value the firm at $4.5 billion.
USDC to Be Backed 100% by Cash, US Treasurys
The USDC developer revealed last month that only 61% of tokens were backed by "cash and cash equivalents."
What We Know – and Don’t Know – About Stablecoins’ Dollar Backing
(Updated Oct. 31, 2021) As information disclosed by issuers varies, it’s not easy for investors to make apple-to-apple comparisons.
USDC Builder Circle Wants to Become a ‘Full-Reserve National Commercial Bank’
“The Hash” hosts discuss the industry implications for Jeremy Allaire’s Circle, a neo-bank and stablecoin USDC issuer, intending to become “a full-reserve national commercial bank.” “This is an ambitious plan, but the idea of having an FDIC-insured digital asset bank would be very notable for the sector,” host Zack Seward said.
USDC Builder Circle Says It Wants to Become a National Crypto Bank
The plans would take Circle well beyond the OCC banking charter already conditionally issued to several firms.
Poloniex Agrees to $10M Settlement With SEC for Operating Unregistered Exchange
The exchange violated securities law, according to the SEC.
No More Lengthy Wallet Addresses – Send USDC to 'username.coin'
Being able to use a simple username akin to a Twitter or Instagram handle may make sending crypto payments more like sending an email or a text.
Why Stablecoins Are Suddenly in the News
From questions surrounding Tether's USDT to Circle's plan to go public, here is your guide to why everyone is suddenly talking about stablecoins.
SEC Chair Hints Some Stablecoins Are Securities
Stock tokens and stablecoins backed by securities might be treated as securities under U.S. law, SEC Chair Gary Gensler said.
BlockFi Receives Cease and Desist Order From New Jersey Attorney General
Crypto lending platform BlockFi has received an order from New Jersey’s acting attorney general (AG) to halt its Interest Account (BIA) operations in the U.S. state. CoinDesk’s Nikhilesh De discusses the implications for BlockFi and its clients. Plus, his take on Circle’s breakdown of its assets backing the stablecoin USDC.
