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On the morning of March 13, Bitcoin unexpectedly surged back to the $50,000 mark, a price level not seen since November 2021. What triggered this sudden spike? BTC/USDC Trading Pair Sees Price Surge on Binance On March 13, the BTC/USDC trading pair on Binance suddenly hit $50,
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In its latest update, Circle has confirmed it can recover the $3.3 billion trapped at Silicon Valley Bank over the weekend, resulting in USDC's price inching back toward the $1 mark. Circle Confirms Ability to Recover $3.3 Billion, USDC Price Approaches $1 Circle has confirmed it
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HOPE is the primary stablecoin for the DeFi ecosystem of Hope, aiming to bridge traditional finance with the crypto world. Decentralized Stablecoin Hope Launches Former Flex Yang, ex-CEO of the collapsed crypto lending firm Babel Finance, has announced the launch of his own DeFi project named Hope. HOPE is a
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After 72 hours of chaos, the second-largest stablecoin in the crypto industry, USDC, has finally returned to its $1 peg. Meanwhile, Bitcoin continues its impressive recovery. USDC Repegs On the evening of March 13, USDC climbed back to its $1 value, stabilizing after an unprecedented period of turmoil. Earlier, following
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Stablecoin issuer Circle has provided the latest updates on USDC and its relationship with Silicon Valley Bank. Circle Commits to Cover Asset Shortfall; USDC Recovers to $0.96 On the morning of March 12, Jeremy Allaire, CEO of Circle—the company behind the USDC stablecoin—released a statement regarding the
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The cryptocurrency market has just endured a tumultuous week, driven by a wave of negative news and a severe depeg of USDC, the second-largest stablecoin in the market. So, what’s next as the U.S. is set to release the February CPI report next week? 68 Trading Plan (03/
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The USDC stablecoin has dropped below its $1 peg after issuer Circle confirmed exposure to Silicon Valley Bank. USDC Stablecoin Plummets as Silicon Valley Bank Fallout Hits Hard Updated at 10:25 AM on March 11, 2023: After a period of silence and pressure from the crypto community, stablecoin issuer
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Circle Stands Firm Amidst Wave of Layoffs Circle, the organization behind the second-largest stablecoin USDC, remains committed to expanding its workforce this year, even as many of its peers are slashing operational costs. According to CFO Jeremy Fox-Geen, Circle plans to grow its team by 25% this year, despite the
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The fallout from Silvergate Bank's shutdown continues to haunt the crypto market, leading to a sharp drop in Bitcoin's price. Top Crypto Price Movements at 08:35 AM on March 10, 2023. Source: Coin360 In the late hours of March 9 and the early hours of
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New Huobi owner Justin Sun claims that HT’s 93% crash is “normal” price volatility and has pledged to implement measures to prevent a repeat. 15m Chart of HT/USDT on Huobi at 09:15 AM on March 10, 2023 Update at Noon on March 10, 2023: Huobi’s new
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Bitcoin and several leading altcoins have continued their decline due to recent developments concerning Silvergate Bank. Bitcoin and Crypto Market Slump Further Due to Silvergate In the early hours of March 9, the cryptocurrency market experienced another significant adjustment, pushing the prices of major coins to their lowest levels in
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Mt. Gox’s largest creditor, a fund set to receive billions in Bitcoin from the exchange, might opt to hold onto the cryptocurrency rather than selling it immediately. Mt. Gox’s Largest Creditor Plans to Hold Bitcoin According to Bloomberg, Mt. Gox’s largest creditor, the Mt Gox Investment Fund,