The percentage of USD Circle (USDC) stablecoins held by major wallet addresses dropped to its lowest point in almost two years as the cryptocurrency market downturn continues. Cryptocurrency analytics firm Glassnode has released the latest data on USDC metrics, reflecting a recent sell-off of the second biggest U.S. dollar-backed stablecoin by market capitalization. $USDC Percent
Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan released on Aug. 16. Tether, Circle
Meta CEO Mark Zuckerberg has decided to overhaul the company’s flagship metaverse app Horizon Worlds after it received heavy criticism due to its graphic simplicity. The backlash was received as a consequence of one of the selfies of Zuckerberg’s avatar in Horizon Worlds presented to illustrate the launch of the platform in Spain and France.
The average transaction fees on the Bitcoin (BTC) blockchain fell below $1.00 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over the Ethereum blockchain skyrocketed several
Three months after being elected into power, the Australian Labor Party (ALP) has finally broken its silence on how it’s planning to approach crypto regulation. Treasurer Jim Chalmers announced a “token mapping” exercise, which was one of the 12 recommendations in a senate inquiry report last year on “Australia as a Technology and Financial Center.”
Bitcoin ATM manufacturer General Bytes had its servers compromised via a zero-day attack on Aug. 18, which enabled the hackers to make themselves the default admins and modify settings so that all funds would be transferred to their wallet address. The amount of funds stolen and number of ATMs compromised has not been disclosed but
The S&P 500 ended its four-week-long recovery last week after minutes from the Federal Reserve’s July meeting hinted that the central bank’s rate hikes will continue until inflation is under control. Members of the Fed said there was no evidence that inflation pressures appear be easing. Another dampener was the statement by St. Louis Fed
After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what had caused the short-term liquidity problem and assured users that it had been resolved. On Thursday, HUSD started to fall from its dollar value, trading at $0.92 at the start of the day and falling as low as $0.82 a few hours later.
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News
The Federal Deposit Insurance Corporation (FDIC) has issued cease and desist letters to five companies for allegedly making false representations about deposit insurance related to cryptocurrencies. FDIC issued a Friday press release disclosing cease and desist letters for cryptocurrency exchange FTX US and websites SmartAssets, FDICCrypto, Cryptonews and Cryptosec. In the letters, which were issued
Ethereum (ETH) is down 20% in the last week and triggering a negative sentiment in the market. Ethereum stalls and fails to make a comeback in the last week ETH flunks at reclaiming $2,000 level Ethereum RSI indicates a bearish stance Additionally, Ethereum
FTX has reportedly begun blocking accounts that have sent coins through zk.money, a private layer-2 chain provided by the Aztec Network on Ethereum. According to Twitter users, FTX has identified the DApp as a mixer — a service it deems a “high-risk activity” prohibited by the exchange. Reports of blocked transactions on FTX began appearing
Bitcoin (BTC) recovered modestly on Aug. 20 but remained on course to log its worst weekly performance in the last two months. Bitcoin hash ribbons flash bottom signal On the daily chart, BTC’s price climbed 2.58% to $21,372 per token but was still down by nearly 14.5% week-to-date, its worst weekly returns since mid August.
Taking payment in Ethereum brings in a gamut of advantages for both users and entrepreneurs. Transitioning to a blockchain-based ecosystem brings in a string of advantages for users as well as entrepreneurs. Here is a drop-down detailing why accepting payment in Ethereum works well for the customers of an enterprise: Additional payment option In a
The Federal Deposit Insurance Corporation (FDIC) has sent a cease and desist letter to five companies, including crypto exchange FTX US. CEO Sam Bankman-Fried explained that FTX does not have FDIC insurance, stating: “We never meant otherwise, and apologize if anyone misinterpreted it … to be clear FTX US isn’t FDIC insured.” FDIC Orders 5
The CEO of crypto exchange Binance, Changpeng ‘CZ’ Zhao, raised concern for traders after learning about the infamous phenomenon of trade jitters on other crypto exchanges. Jitters in crypto trading relate to a trade event wherein an investor’s buy or sell order gets stuck and moves down in the list, allowing newer trade orders to