USDC

Harsh economic restrictions in Argentina have pushed the country’s football clubs towards cryptocurrencies. Recently, the first transfer of a football player via crypto instead of fiat occurred, marking a new era in football finances. Earlier this month, Sao Paulo Futebol Clube from Brazil paid $6-$8 million worth of USDC to Banfield’s Athletic Club for midfielder Giuliano Galoppo. The oscillating gap reflects the tempestuous value fluctuations between the US Dollar and the Argentinean Peso. The First Football Cryptocurrency Signing Galoppo's transfer…

On Thursday, MakerDAO co-founder Rune Christensen shared a proposal via the network’s official Discord server. Christensen raised the suggestion that the MakerDAO organization should swap its $3.5B  worth of USDC for Ether. However, Ethereum creator Vitalik Buterin tagged Christensen’s plan a “terrible idea” despite the potential benefits of such a move on Ethereum’s value.  Christensen To Remove USDC Exposure Rune’s actual goal is to eliminate MakerDAO’s exposure to USDC following the US Treasury’s recent sanction on crypto mixer Tornado Cash.…

Payment service provider Checkout.com has partnered with crypto security firm Fireblocks to launch a stablecoin settlement solution for merchants. The company unveiled this news earlier today through a press release. This product currently supports USD Coin (USDC), but Checkout.com plans to add more assets in the future. According to the press release, the solution leverages Fireblocks’ new crypto payment technology. Checkout.com is the first payment service provider to embrace this technology. The company is also the first to roll out…

Cryptocurrency exchange Coinbase said it decided to halt its plans to launch an interest-earning product. On its blog website, the platform stated it would not launch Coinbase Lend. The development comes a few weeks after the SEC threatened to sue Coinbase if it proceeded with its program. As a result, it stops the exchange from allowing users to earn interest by lending digital assets.  CEO Brian Armstrong had taken the U.S. regulators to task on Twitter for its lack of guidance on the…

Volatility is a distinct characteristic in cryptos like Bitcoin or Ethereum. One moment, the value could be skyrocketing, and the next second, it is singing a different tale. Though cryptocurrencies may offer intriguing innovations that are changing the financial realm, the issue of volatility is scaring off some potential traditional investors. Fluctuations are nipped in the bud by the concept of stablecoins. Stablecoins are cryptos that are pegged to a fiat currency or another item of value. An example that…

According to a post on Circle's website by Founder and CEO Jeremy Allaire, the USDC stablecoin has filed with the Securities and Exchange Commission to become a U.S. federally-chartered national commercial bank. This happens amid executives at Tether, its larger rival, facing a criminal probe by U.S. prosecutors. Though the firm officially announced its decision to become a bank in its August 9th blog post, their  S-4 filing to the SEC on August 6th insinuated its plans to become a…

USD Coin is considered the second most lucrative stablecoins in the crypto world. It introduced the crypto world to the idea of the USD coin in early May 2018, but the coin itself was launched in September of the same year. Being a stablecoin, the USD coin is backed by the USD currency in the bank accounts.  In 2021, the USD coin has been increasing vastly in adoption, and the trading volumes have been growing vastly recently. Its growth has…

Bitfinex and Tether have settled the legal dispute with the New York Attorney General Office (NYAG) that began in 2019. As part of the settlement, the crypto firms have agreed to pay $18.5 million to the New York state regulator.  End To A Protracted Legal Dispute The New York Attorney General Office revealed the settlement agreement in a statement released today. The lengthy report highlighted the entire legal dispute process that began in 2019. In April 2019, the NYAG office charged…

Tether has dominated the stable market for the past three years, with a record high circulation of nearly $27 billion. However, the coin’s critics say that its lack of transparency is a liability to the crypto industry.  For the first time, Tether shed its market dominance to under 75%, according to the latest Coinmetrics figures. Some suggest better stablecoins in the market, while a centralized digital currency provider is a no go zone. USDC Making Major Moves Tether's main competitor…