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CATEGORY: redemptions

Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Mar 17, 2023 10:30

Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation

During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed. Stablecoin Depegging Event Triggers Billions in Redemptions The stablecoin landscape [...]

The post Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation appeared first on Crypto Breaking News.

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Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Mar 15, 2023 05:50

Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank

Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (SVB). Speaking with Bloomberg Markets on March 14, Allaire said that he believed that “if not everything, very close to everything was [...]

The post Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank appeared first on Crypto Breaking News.

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Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions 
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
May 13, 2023 10:30

Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions 

Despite several U.S. dollar-pegged digital tokens experiencing notable redemptions in recent months, the largest stablecoin by market valuation, tether, is on the verge of achieving its highest-ever market capitalization. With a current value of $82.84 billion, tether is a mere $433 million shy of reaching its all-time high (ATH) set on May 8, 2022. Stablecoin [...]

The post Tether’s Market Cap Inches Towards All-Time High as Competitors Struggle With Redemptions  appeared first on Crypto Breaking News.

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Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jul 12, 2023 10:30

Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks

The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the token’s number of coins in circulation has fallen 16.7% over the last month. Dollar-Pegged Cryptos Feel [...]

The post Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks appeared first on Crypto Breaking News.

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Ethereum Staked on Coinbase Sees Massive Redemptions, Over 27,000 Tokens Redeemed on June 6
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jun 08, 2023 10:30

Ethereum Staked on Coinbase Sees Massive Redemptions, Over 27,000 Tokens Redeemed on June 6

Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering its staking-as-a-service program. Redemptions Soar on Coinbase Amidst SEC Lawsuit [...]

The post Ethereum Staked on Coinbase Sees Massive Redemptions, Over 27,000 Tokens Redeemed on June 6 appeared first on Crypto Breaking News.

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Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 07, 2023 10:30

Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume

In the brief span from July 12, 2023 to August 6, 2023, the stablecoin economy witnessed a staggering loss exceeding $1.53 billion in value. Among the premier ten stablecoins, Pax’s pax dollar (USDP) experienced a redemption of 39% of its supply over the preceding 30 days. Unstable Times for Stablecoins: Major Players Hit with Sweeping [...]

The post Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume appeared first on Crypto Breaking News.

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Texas House Advances Gold-Backed Digital Currency Bill
Author: btcethereumadmin
United States
Source: BTC Ethereum Crypto Currency Blog
May 06, 2023 01:20

Texas House Advances Gold-Backed Digital Currency Bill

Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to transact and pay with this digital currency and would also allow them

The post Texas House Advances Gold-Backed Digital Currency Bill appeared first on BTC Ethereum Crypto Currency Blog.

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Redemptions Plague Stablecoin Economy, Wiping Out Over $2 Billion in June
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Jul 03, 2023 05:50

Redemptions Plague Stablecoin Economy, Wiping Out Over $2 Billion in June

The market capitalization of the stablecoin economy on July 2, 2023, has fallen below the $129 billion mark to the current $128.21 billion, according to statistics. Just over $2 billion in stablecoins have been withdrawn from the stablecoin token economy since May 28. Stablecoin Economy Faces Contraction as Market Capitalization Dips Below $129 Billion The [...]

The post Redemptions Plague Stablecoin Economy, Wiping Out Over $2 Billion in June appeared first on Crypto Breaking News.

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