USDC STABLECOIN ISSUER
Stablecoin bigwig Circle soars in debut on the New York Stock Exchange
Circle, issuer of the USDC stablecoin, made a strong debut on the New York Stock Exchange, with shares soaring to over $96 before closing at $83.23. The IPO reflects high investor interest amid rising stablecoin competition and regulatory efforts in the US. Circle boasts $25 trillion in transaction volume.
New York Stock Exchange latest update: Stablecoin issuer Circle is now live on NYSE. Check symbol, share price
Stablecoins are a fast-growing corner of the cryptocurrency industry that offer a buffer against volatility because they are pegged to real-world assets, like U.S. dollars or gold.
Circle CRCL IPO sparks crypto’s game-changing future: USDC stablecoin giant rockets past expectations with $1.1B raise at $31/share in NYSE debut — investors fixate on soaring $8.1B valuation
Circle IPO has made headlines with a stunning debut on the New York Stock Exchange, trading under the ticker CRCL. The USDC stablecoin issuer priced its IPO at $31 per share, raising $1.05 billion, and valuing the company at $6.8 billion. Backed by strong investor demand and a growing crypto-friendly U.S. regulatory stance, Circle’s IPO opens new doors for crypto infrastructure companies on Wall Street. As the second-largest stablecoin player, Circle’s success signals mainstream acceptance of digital finance. Here’s everything you need to know about this massive listing and what it could mean for the future of crypto.
Stablecoin bigwig Circle set to make its debut on the New York Stock Exchange
Circle Internet Group, issuer of the USDC stablecoin, is debuting on the New York Stock Exchange under the symbol "CRCL". Its IPO, priced at $31 per share, comes amid rising interest in stablecoins and regulatory moves in the U.S. Circle aims to challenge market leader Tether with its strong growth.
Stablecoin issuer Circle targets $7.2 billion valuation in upsized US IPO
Circle's dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyse institutional adoption. Stablecoins are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between tokens.
EU Commission investigates depth of EU safety net for stablecoin holders
The country's banking and insurance supervisor asked the European Banking Authority (EBA) to determine the possibility of having technically identical and fully fungible EMTs issued by both an entity licensed in the European Union and by another elsewhere not subject to EU rules. Since it is a matter of interpretation of EU law, the EBA handed over the matter to the EU Commission.
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Stablecoin firm Circle CEO expects imminent US executive orders to widen crypto
Trump has vowed to be a "crypto president" and is anticipated to issue executive orders focused on easing crypto regulations and encouraging the widespread adoption of digital assets. Circle issues the USDC stablecoin, a digital token tied to the value of the US dollar. USDC is the second-largest stablecoin globally by market value.
How stablecoins serve as a bridge between crypto and fiat: Insights from Anush Jafer
Stablecoins are crucial in cryptocurrency, offering stable value by being pegged to assets like fiat currencies or other cryptocurrencies. Their types include fiat-collateralized, crypto-backed, and algorithmic. Advantages include price stability, enhanced DeFi access, efficient market transitions, regulatory compliance, and increased liquidity. Top examples are USDT, USDC, DAI, and PayPal USD.
Artificial Intelligence takes centre stage, pushing crypto aside in Davos
In a sudden shift, artificial intelligence (AI) has pushed cryptocurrency firms aside at the 2024 World Economic Forum and has been seen dominating the main strip in Davos, as reported by the CNBC.
Key events that will shape the digital asset industry in 2024
Bitcoin will undergo a halving event in 155 days, further increasing the scarcity of this digital asset. Bitcoin halving occurs approximately every four years and reduces the block reward miners receive by half. Historically, this reduction in supply has led to price increases in Bitcoin due to its increased scarcity. To illustrate this point, let's look at previous halvings:
Influential US crypto industry leaders say SEC overstepped with Binance allegations
Paradigm filed an amicus brief in support of Binance’s recent move to dismiss the case. The crypto fund said in its filing that the SEC has pursued “an incoherent approach” to regulating cryptoassets, and that those attempts were premised on a “mistaken assertion” that crypto falls within the remit of existing laws
Bitcoin remained volatile this week owing to macroeconomic factors and lack of momentum
Beyond the SpaceX announcement, other influencing factors also have played a role in shaping up the recent market trends. One noteworthy factor is the waning interest in Bitcoin Exchange-Traded Funds (ETFs). Additionally, macroeconomic factors, such as global economic conditions and governmental policies, are exerting their influence on the cryptocurrency space
Coinbase to invest in Circle, shut down jointly managed Centre
Coinbase Global said on Monday it would acquire an equity stake in cryptocurrency operator Circle Internet Financial and shut down their jointly managed Centre Consortium, the operator of the stablecoin, USD Coin (USDC).
Stablecoin market share is shrinking while most cryptocurrencies surge
This discrepancy could have several explanations. Hoping for higher returns, investors may be rotating out stablecoins and into appreciating market leaders Bitcoin and Ether, according to Jacob Joseph, a research analyst at CCData. Stablecoins don’t pay interest and usually seek to maintain a one-to-one ratio with other assets such as the dollar, hence their name.
How can investing in stablecoins mitigate market volatility?
Stablecoins are cryptocurrencies designed to maintain a stable value, typically by being pegged to a stable asset such as the US dollar. Investing in stablecoin can help mitigate market volatility because they are less susceptible to price fluctuations than other cryptocurrencies such as Bitcoin or Ethereum or any other
Stablecoin issuer Circle says executive's Twitter account was hacked
Stablecoin USDC's issuer Circle said its chief strategy officer's Twitter account was hacked on Wednesday
Bitcoin jumps to highest since June as rally gathers pace
U.S. authorities' action helped stabilise the major USDC stablecoin, whose issuer Circle had deposits of $3.3 billion at SVB. The steadying of USDC, the second-biggest stablecoin and a key cog in digital token trading, was seen as positive for the crypto sector as a whole.
Major cryptocurrencies stabilise after US intervenes on SVB
US authorities launched emergency measures on Sunday to shore up confidence in the banking system after the failure of SVB threatened to trigger a broader financial, and said SVB customers would have access to their deposits from Monday.
7 points: What caused the sinking of Signature Bank?
Signature Bank had total assets of about $110.36 billion and total deposits of roughly $88.59 billion as of December 31. While a run on the bank triggered the collapse of Silicon Valley Bank, Silvergate Capital wound down due to its dealings with the controversial FTX operated by Sam Bankman-Fried. But what led to the sinking of Signature Bank?
Crypto shaken as SVB exposure depegs $37 billion stablecoin
The second-largest stablecoin fell from its intended $1 peg, trading as low as 81.5 cents as investors reacted to the exposure of issuer Circle Internet Financial Ltd. to the collapsed bank.
Crypto shaken as SVB exposure Depegs $37 billion Stablecoin
The second-largest stablecoin fell from its intended $1 peg, trading as low as 81.5 cents as investors reacted to the exposure of issuer Circle Internet Financial Ltd. to the collapsed bank. USD Coin, or USDC, is an asset-backed stablecoin and a widely used plank of crypto markets.
Stablecoin USDC breaks dollar peg after revealing $3.3 billion Silicon Valley Bank exposure
Circle has $3.3 billion of its $40 billion of USDC reserves at collapsed lender Silicon Valley Bank, the company said in a tweet on Friday.
Crypto firm Circle reveals $3.3 billion exposure to Silicon Valley Bank
The stablecoin company's announcement comes after startup-focused SVB collapsed on Friday in the largest bank failure since the 2008 financial crisis, roiling global markets and stranding billions of dollars belonging to companies and investors.
Crypto firm Circle reveals $3.3 bln exposure to Silicon Valley Bank
Traders have been on guard this week for signs of contagion in the financial sector and beyond from troubles for SVB and crypto-focused Silvergate, which this week disclosed plans to wind down operations and voluntarily liquidate.
Coinbase, Galaxy, Paxos stop accepting transfers via Silvergate Network
The exodus threatens Silvergate’s SEN network, the bank’s key source of deposits and a platform for crypto participants to transfer money among each other. Silvergate’s platform has become one of the critical infrastructure bridges in the industry, which has historically had difficulties getting bank accounts.
Mystery of Terra collapse deepens with possible FTX role raised
The Terra ecosystem was helmed by the symbiotic relationship between the two tokens that was managed by lines of automated code to govern circulation. If the price of UST went above $1, traders were incentivized to swap Luna for UST at a profit, and vice versa, thus in theory keeping UST’s circulation in check.
Cryptoverse: Stablecoins wend wobbly way into the unknown
"Stablecoins are the closest that we'll get in the crypto space to a systemically important asset and any impact on the value of one or several stablecoins is liable to impact the system as a whole," said Hagen Rooke, a financial regulation partner at law firm Reed Smith in Singapore.
Stablecoins wend wobbly way into the unknown
Major stablecoins swung between roughly $0.95 and $1.02 last week, according to data provider Coinmarketcap, after having maintained their peg to within a cent previously in 2022.
Top cryptocurrency prices today: Dogecoin, Terra drop 8% each; Bitcoin falls 5%
The global cryptocurrency market cap was trading lower at $1.77 trillion, with a sharp fall of about 5 per cent in the last 24 hours. Meanwhile, the total cryptocurrency trading volume dropped about 2 per cent to $95.82 billion.
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