Circle


Finance

Coinbase Pauses Conversions Between USDC and U.S. Dollars as Banking Crisis Roils Crypto

Circle earlier confirmed it has $3.3 billion backing its USDC stablecoin parked at now-shuttered Silicon Valley Bank.

Coinbase CEO Brian Armstrong (CoinDesk)

Finance

Circle Confirms $3.3B of USDC's Cash Reserves Stuck at Failed Silicon Valley Bank

Silicon Valley Bank, one of the reserve banking partners for Circle's USDC stablecoin, was shut down by regulators on Friday.

CEO Jeremy Allaire's Circle is part of the consortium behind USDC. (Danny Nelson/CoinDesk)

Markets

Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank's Shutdown

Stablecoin issuer Circle held an undisclosed amount of USDC’s cash reserves at now-failed Silicon Valley Bank.

Circle CEO Jeremy Allaire (Danny Nelson/CoinDesk)

Finance

USDC Issuer Circle Says It 'Awaits Clarity' From FDIC on Silicon Valley Bank Collapse

The stablecoin issuer declined to state how much cash is tied up at the collapsed financial institution.

Jeremy Allaire, Co-Founder, Chairman and CEO, Circle (CoinDesk)

Markets

USDC Stablecoin Depegs From $1; Circle Says Operations Are Normal

USDC/USDT dropped as low as 94 cents on Kraken, its lowest level since April 2021.

USDC/USDT Hourly Chart (Kraken)

Finance

Crypto Wallets Withdraw $902M USDC From Centralized Exchanges in Past 24 Hours Amid SVB, Silvergate Shutdowns

$11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System.

Silicon Valley Bank headquarters (Justin Sullivan/Getty Images)

Markets

Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank

Circle’s USDC, the second-largest stablecoin, with $43 billion market capitalization, held an undisclosed part of its $9.8 billion cash reserves at failed Silicon Valley Bank.

(Sandali Handagama/ CoinDesk)

Finance

Crypto Rails Should Bring Efficiency Gains to the $7T-a-Day TradFi FX Market

Todd Groth of CoinDesk Indices wades into one of traditional finance’s biggest numbers: $7 trillion.

(Scott Graham/Unsplash)

Finance

Dapper Removes ACH Withdrawal Option, Citing Circle

Wire transfer and USDC remain an option for Dapper users.

Circle CEO Jeremy Allaire (Danny Nelson/CoinDesk)

Markets

Tether's USDT Stablecoin Market Share Rises to Highest Level in 15 Months

USDT’s market share among stablecoins surpassed 54% on Monday, its highest level since November 2021.

(Nikhilesh De/CoinDesk)