Circle has announced that it is launching Euro Coin on the Avalanche blockchain. This move is part of Circle's planned series of launches of the euros-baked stablecoin on various blockchain networks. The introduction of Euro Coin on the Avalanche platform aims to optimize payment and financial service operations, enhancing speed ...
On April 25, 2023, the New York Federal Reserve published a revised edition of the guidelines for its reverse repurchase agreements (RRP) program that could potentially limit stablecoin issuer Circle's ability to participate in the program. The changes could impact counterparties looking to use the Fed's money market balancer, and ...
Circle CEO Jeremy Allaire, has stated that the value of stablecoin USD Coin (USDC) has been declining due to the crackdown by US regulators on cryptocurrencies. Allaire made this comment during an interview with Bloomberg TV. During the interview, Allaire stated that there is "a huge amount of concern globally ...
A recent report revealed that Signature Bank, a crypto-friendly financial institution based in New York, was investigated for possible money laundering activities prior to its seizure by regulators. The bank was closed down on March 12, 2023, by US authorities shortly after the collapse of Silicon Valley Bank. The report ...
The Federal Reserve has begun an investigation into the causes of Silicon Valley Bank's (SVB) collapse. The agency will evaluate the oversight and regulatory methods utilized by the collapsed financial institution. The Federal Reserve appointed Vice Chair for Supervision Michael Barr to lead the investigation into the supervision and regulation ...
Questions are being asked about USDC stablecoin issuer, Circle's exposure to failed U.S. banks, Silvergate Bank and Silicon Valley Bank. This is because Circle published a USDC Reserve Report last week accompanied by an Attestation by the global Audit firm, Deloitte. That Report confirmed that Circle held cash with several ...
