In a Q2 earnings call, Coinbase chief Brian Armstrong unexpectedly said that USDC was stronger now that Binance has liquidated.
An anonymous source claims Coinbase was about to bail out its partner Circle to bring stablecoin USDC back up to $1 during SVB’s bank-run.
A new scam appears to allow users to avoid the risk of a USDC depeg, but instead it drains the wallet of unsuspecting victims.
The FDIC has taken over two banks at which Circle held billions of dollars worth of backing for DeFi’s most popular denominator.
The move follows the SEC’s demand that crypto exchange Paxos stop minting Binance’s BUSD stablecoin because it may be a security.
- Binance invested heavily in lobbying before guilty plea
- Top Binance exec Noah Perlman’s ties to Epstein, Moonstone, and Gemini
- CFTC demands Coinbase user data in suspected Bybit probe
- Tether gives FBI peek behind the curtain
- Binance card withdrawals have been down for a week
- HTX hacked week after Poloniex — now Justin Sun only posts as AI
- Binance and CZ plead guilty but SEC lawsuit remains
- Tether sent $1B to UK firm owned by prominent Conservative donor
- M2: Did Mr. Wonderful endorse the next FTX?