USD Coin Price Prediction, News, and Analysis USDC

Crypto-lender Celsius announced Sunday evening a suspension of withdrawals and transfers as a result of ongoing market turbulence, in what has the bearings of a bank run on its assets as well as the firms’ response to safeguard remaining assets. Research has shown there is $140 billion “ready to be deployed into bitcoin and altcoins” after the rapid growth of crypto’s four largest stablecoins by market cap… When $60 billion worth of how to buy usdc digital currency gets wiped out, there will be an investigation, lawsuits, regulators, even an arrest warrant. Meanwhile, investors need to know why Luna was so vulnerable and what happened, step-by-step, so we won’t get caught up in anything like this again. Investor Balaji Srinivasan has warned the latest banking crisis could spark hyperinflation in the U.S.—and advised people to “buy bitcoin now and get your coins off exchanges”…

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Judge Kudelka said Rezaei’s offending involved raping the victim multiple times — including in front of her children – as well as threatening to distribute videos of his crimes to people in his homeland. And when you choose to sell 1 USDC for fiat currency, the coin is “burned” when you make the transaction. Steve Bumbera, chief operating officer of Many Worlds Token, says USDC is typically looked at as a safer stablecoin because of the degree of transparency surrounding its collateral reserves.

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Collectively, the trailblazers have raised $6.5 billion in venture capital funding. A new Forbes analysis of 157 crypto exchanges finds that 51% of the daily bitcoin trading volume being reported is likely bogus. Bitcoin, ethereum and the rest of the crypto market has been hard hit by a devastating price crash this year and could be about to take another blow… However, the stability of this popular stablecoin is far more precarious than most users realize.

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The cryptocurrency crisis went into high gear early Saturday as Silicon Valley Bank’s (SVB) failure caused some of the industry’s core plumbing to go haywire. USDC—already available on Ethereum, Stellar, Avalanche, Arbitrum, Algorand, Tron, Flow, Solana, and Hedera—will be rolled out on the additional blockchains beginning in September, according to Circle, with Polygon PoS coming in October. The company had previously announced that it planned to add Polkadot, NEAR, Optimism, and Cosmos in 2023. Because of Coinbase’s active role in the distribution of USDC—as well as its equity stake in Circle—its newly launched layer-2 blockchain, Base, served as a natural candidate for the stablecoin. Despite the humility expressed by certain crypto investors following the dramatic $60 billion UST/LUNA collapse, a carbon copy headed up by a controversial figure is rapidly growing. A record nine cryptocurrency-focused companies made it onto the Forbes Fintech 50 list this year.

• They help build trust in USDC, as they disclose the precise amount of actual funds backing the stablecoin.
• According to Circle’s January reserve report, the firm held some $9.88 billion of cash deposited at regulated banks to back USDC’s value.
• Investing in USDC would be like stashing U.S. dollars under your mattress, and your investment would never be worth more than the equivalent cash.
• USDC can be transferred 24/7 and is faster to send than traditional currencies, with settlements occurring in seconds.
• If Circle did have more than a smattering of cash at SVB, concerns could mount that the backing of USDC may no longer be complete and instead be more fractional than is needed for a stablecoin to remain steady.
• Stablecoins are a $150 billion asset class within cryptocurrencies and serve as an important bridge between traditional finance and the crypto space for transactions and trading.

In a state that has six congressional seats, and a 31.4% Black population, only one district was majority-Black. USD Coin’s main advantage is that it enables people to buy and sell other cryptocurrencies without having to move fiat currency in and out of exchanges. Two banks that USDC mentioned using, SVB and Silvergate, made headlines this week for separate but similar reasons. SVB was taken over by regulators and shut down on Friday after the https://www.tokenexus.com/ bank announced on Wednesday that it lost $1.8 billion on the sale of U.S. treasuries and mortgage-backed securities that it invested in, owing to rising interest rates. Its efforts to raise more capital and reshape its capital profile to bolster its interest income failed to conserve investor and customer confidence in its health. SVB is the latest in a handful of technology and cryptocurrency-focused lenders to go under over the past few days.

• Rival Paxos only issues stablecoins on Ethereum, including the newly launched PayPal token.
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• Based on economic modeling, this investment is expected to directly and indirectly support 1,960 jobs.
• Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including USD Coin.
• When Razer CEO Min-Liang Tan tweeted late Friday that Twitter should buy SVB and turn into a digital bank, billionaire Elon Musk tweeted in reply, “I’m open to the idea.”
• Because of Coinbase’s active role in the distribution of USDC—as well as its equity stake in Circle—its newly launched layer-2 blockchain, Base, served as a natural candidate for the stablecoin.
• The expansion to other blockchains comes amid a flurry of developer-focused activity for Circle.

USDD, a stablecoin carbon-copy of Terra fell 10% today and is now struggling to maintain its one dollar value. The crypto brokerage firm is now relying on $75 million from an Alameda Research-issued credit line to process limited withdrawals and is seeking options to recover the funds. As Circle’s second digital currency, EUROC is designed to adhere to the same regulatory and operational standards as USDC. However, its long term success will depend on its positioning vis-a-vis a digital Euro and its ability to acquire mainstream partners. The reported insolvency of Three Arrows Capital could plunge an already bearish crypto market even lower. Last week, the firm issued a notice of default to Three Arrows Capital (3AC) after the hedge fund failed to repay a loan worth more than $670 million.

For users in emerging markets trying to escape monetary volatility, investments based on dollar-pegged stablecoins are picking up steam, presenting an attractive to ot… USDC is the second-largest stablecoin on the market, with a $43 billion circulating supply that is fully backed by government bonds and cash-like assets. USDC is backed by real assets, and is sometimes referred to as a fiat-collateralized stablecoin.

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