Circle's anticipated IPO faces regulatory hurdles as the SEC questions if USDC, its stablecoin, should be classified as a security.
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Crypto Biz: Riot Platforms and Bitfarms dispute escalates
This week’s Crypto Biz explores the corporate battle between Riot Platforms and Bitfarms, Tether’s $1 billion budget for startups, Ripple Labs’ new custodian deal, and more.
The corporate dispute between crypto miners Riot Platforms and Bitfarms has recently intensified.
On June 11, Riot Platforms disclosed a significant increase in its stake in Bitfarms, acquiring roughly six million shares worth over $111 million and bringing its total holding from 9.25% to 13.1%.
The move came just a day after Bitfarms suggested a “poison pill” defense strategy to prevent Riot from increasing its stake to 15% or more. The defense mechanism is designed to dilute the value of shares and hinder Riot’s takeover plans.
ERC-6900 Website Launches, Co-Authored by Ethereum Foundation, Alchemy, Circle and Quantstamp
The official resource for ERC-6900, www.erc6900.io, has been launched, co-authored by the Ethereum Foundation, Alchemy, Circle, and Quantstamp. The website is a comprehensive guide to ERC-6900, a groundbreaking proposal that standardizes interfaces for composable smart accounts. The core idea behind ERC-6900 is to foster permissionless innovation by making it easier for developers to build secure, […]Circle Officially Launches in Brazil, Partners With Latam Giants BTG Pactual and Nubank
Circle, the company behind USDC, the second-largest stablecoin in the cryptocurrency market, has announced its official launch in Brazil. The company inked an alliance with BTG Pactual, the largest investment bank in Latam, to provide onboarding and distribution services for Brazilian companies. Circle also partnered with Nubank, a leading digital neobank. Circle Partners With BTG […]Security-Focused Crypto ISAC Debuts With Founding Members Including Coinbase, Kraken, Circle
The Crypto ISAC (Information Sharing and Analysis Center) launches on Wednesday as a 501(c)(6) not-for-profit association dedicated to bolstering security within the cryptocurrency ecosystem. Its founding members include Aleo, Circle, Coinbase, Consensys, Evertas, Fireblocks, Hedera, Kraken, Offchain Labs, Red Balloon Security, Ribbit Capital, Solana Foundation, and Trail of Bits. Its mission is to foster collaboration […]Stablecoin Issuer Circle Files To Move Headquarters to USA Ahead of Planned IPO: Report
Stablecoin issuer Circle is reportedly looking to move its domicile to the US ahead of its planned upcoming initial public offering (IPO). According to a new report by Bloomberg, Circle, which issues the dollar-pegged crypto asset USDC, is planning on moving to the US from Ireland. An anonymous company spokesperson told Bloomberg that the court […]
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Could stablecoin volumes overtake Visa this quarter?
Research firm Sacra predicts stablecoins will “eclipse” Visa on total payments volume this quarter, but Visa's head of crypto doesn’t agree.
Stablecoins may finally overtake payment giant Visa in total payment volume this quarter, according to research firm Sacra.
Visa's head of crypto, however, disagrees.
In a blog post by Sacra co-founder Jan-Erik Asplund, the firm argued that stablecoins’ "extreme product-market fit for cross-border money movement" could see its total payments volume exceed Visa, reaching over $4 trillion.
USDC overtakes USDT: Compliance is key to stablecoin dominance
Tether’s USDT hegemony in the stablecoin market may shift as institutional investors chip into the crypto market.
Tether has long dominated the stablecoin sector thanks in large part to USDT’s status as the first fiat-backed stablecoin.
However, new serious competitors have entered the stablecoin market over the past several years, giving USDT (USDT) a run for its money.
Since 2024, the transaction volume of Circle’s stablecoin, USD Coin (USDC), has been on the rise.
Binance ties SAFU fund to USDC: Is the fund missing out on potential gains?
Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.
The Secure Asset Fund for Users (SAFU ) — an emergency fund established by crypto exchange Binance to cover user assets — contained various cryptocurrencies, such as Bitcoin (BTC), Tether (USDT), True USD (TUSD) and BNB (BNB).
But on April 18, 2024, Binance denominated the entire fund — 100% of SAFU assets — in Circle’s USD Coin (USDC).
The timing of this decision may seem odd, with the Bitcoin bull market in full swing, driven by the recent halving and high Bitcoin exchange-traded fund (ETF) volumes.
BlackRock Leads Funding Round for US Firm Focused on Tokenization of Real-World Assets
Asset management titan BlackRock is leading a new fundraising round for Securitize, a US company geared towards the tokenization of real-world assets. According to a new press release, Securitize has completed a $47 million funding round led by BlackRock, which has over $10 trillion of assets under its management and is the largest asset manager […]
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