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0 CommentsA New York lawmaker has introduced a new bill that proposes to allow certain stablecoins to be accepted as payment for bail. A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds. The partisan bill, introduced on May 10 by New York…
47 ViewsThe world’s second-largest stablecoin issuer wants to reduce its exposure to potential US debt defaults. Stablecoin issuer Circle has reportedly adjusted its reserves treasury in an effort to reduce the risks of United States debt defaults. According to a May 10 Politico newsletter, Circle CEO Jeremy Allaire said that the firm has adjusted the mix of…
54 ViewsThe market capitalization of Tether is nearly a billion dollars away from reaching a new lifetime peak while rival stablecoins struggle. Tether has emerged as a clear winner amid the ongoing banking crisis and crypto crackdown in the United States. On April 17, the U.S. dollar-pegged stablecoin’s circulating market valuation reached nearly $81 billion, just 1.5% below…
73 ViewsUS President Joe Biden on Twitter said he is “firmly committed” to holding those responsible for the Silicon Valley Bank and Signature Bank collapse “fully accountable.” The President of the United States Joe Biden has vowed to hold those responsible for the failure of Silicon Valley Bank and Signature Bank while assuring Americans that their…
69 ViewsSeveral USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. Several USD Coin holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC’s collateral was held at Silicon Valley Bank. However, not all of them had success during panic…
68 ViewsAt the time of writing, USDC lost 3% of its value as it traded at $0.969, and a Circle executive envisions broader implications for business, banking and entrepreneurs without a Federal rescue plan. Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from…
