Circle

Paxos Standard Presents Assets Backing Its Stablecoins

<div class=”featured_image_container”> </div> <strong>Paxos, a regulated blockchain company, recently presented the basket of resources that back its stablecoins. Paxos Standard (PAX) and Binance USD (BUSD) are reportedly backed almost 100% by cash and cash equivalents. Dan Burstein, CCO of Paxos, harshly criticized Tether and Circle, issuers of other stablecoins, stating their products we’re not really …

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FTX Closes $900 Million Series B — Capital Raise Pushes Exchange Valuation to $18 Billion

<div class=”featured_image_container”> </div> <strong>FTX Trading Ltd. announced the firm has closed the largest capital raise in crypto exchange history in a Series B funding round for $900 million. The financing gives FTX a valuation of around $18 billion and the crypto firm aims to expand its global presence.</strong> FTX Closes Largest Capital Raise in Crypto …

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Crypto.com taps Circle for global dollar deposits

Digital asset exchange platform Crypto.com opened a new U.S. dollar fiat on-ramp thanks to a new partnership with global payment provider Circle, according to a June 28 announcement. The partnership between Crypto.com and Circle enables users in over 30 countries to deposit dollars from their bank account and receive USD Coin (USDC), a popular dollar-pegged …

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Boston Fed President Says the ‘Exponential Growth’ of Stablecoins Could ‘Disrupt’ Money Markets

<div class=”featured_image_container”> </div> <strong>Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponential growth of stablecoins is concerning.</strong> Rosengren: ‘We Should Be a Bit Concerned About Stablecoin Markets …

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Circle Captures $440 Million in Financing, Rumors of SPAC Deal Follow

<div class=”featured_image_container”> </div> <strong>The Boston-based cryptocurrency finance firm Circle has announced the company has raised $440 million in financing in order to “drive market expansion and growth.” The investment was led by prominent finance firms like Digital Currency Group, Fidelity Management and Research Company, and FTX.</strong> Circle Reveals $440 Million in Financing Circle Internet Financial, …

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Stablecoin company earns record-level investment sum for a crypto outfit

Crypto companies have been on the rise in tandem with the industry’s growth in recent years. A report from Forbes recently detailed a number of large investments into blockchain and digital asset entities, with one $440 million play rising to the forefront.  “Circle, creator of the second-largest stablecoin, USDC, has just raised $440 million in …

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Court Authorizes IRS to Summon User Records From Kraken Cryptocurrency Exchange

<div class=”featured_image_container”> </div> <strong>The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020.</strong> IRS Wants User Information From Crypto Exchanges The U.S. Department of Justice …

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Digital Asset Marketplace Apifiny Prime Granted FINRA Broker-Dealer License Approval

<div class=”featured_image_container”> </div> <strong>On Thursday, Apifiny, a global digital asset trading and mining network, announced the company’s subsidiary Apifiny Prime has been granted a broker-dealer license from the Financial Industry Regulatory Authority (FINRA). The firm now joins the ranks of brokerage and exchange businesses like Coinbase, Etoro, and Circle.</strong> FINRA Grants Apifiny Prime a Broker-Dealer …

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Jeremy Allaire: ‘USDC is halfway to flipping PayPal’

The co-founder and CEO of Circle, Jeremy Allaire, has made a bold prediction that the company-issued stablecoin is on track to surpass payments giant PayPal in terms of transacted dollar value. The comments came in an April 6 tweet in which Allaire alluded to the on-chain transaction volume for USDC over the past year, which …

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