This comes after debuting its first-in-market, USDC-settled Bitcoin contracts earlier this year. The crypto platform said in a Monday notice to customers that the auto-convert feature will also be utilised for the stablecoins USDP and TUSD.
Goldman Sachs released its survey consisting of 328 chief investment officers and chief financial officers representing $26 trillion of the global insurance industry. It has resulted in six percent of respondents being invested in crypto or considering doing so. Here’s everything we know about Celsius Network’s bankruptcy filing.Celsius has officially made the decision to file for bankruptcy. Smart contracts governing DeFi platforms identified as a particular cause for concern for the enforcement agency.
Fed moves to ease strains as dollar demand surges
In a world where prices are volatile and constantly changing, stability is everything. USDC offers a degree of financial durability for buy usdc those who invest in it. Here at AQRU, we enable you to harness that stability and use it to generate returns on your investment.
- However, the smaller supply and fully transparent exchanges make USDC more reliable and more easily traceable.
- With options contracts, Bybit users are able to speculate on the future price in USD of an underlying asset and settle their trades in USDC.
- Per a report issued by CoinTelegraph, Binance has further clarified its stance on auto converting USDT.
- Like most stablecoins, crypto investors use USD Coins as a payment rail to access the crypto market.
Offers convenient options to swap between crypto, fiat, equities, and precious metals. With over 50 coins and an obsession with security, Kraken is one of the safest places to buy and trade crypto. Uphold makes buying crypto with popular currencies like USD, EUR and GBP very simple with its convenient options to swap between crypto, fiat, equities, and precious metals. There is also a robust arbitrage market, which transforms USDC into USDT on Binance International. However, the smaller supply and fully transparent exchanges make USDC more reliable and more easily traceable.
USD Coin was made by the tech company Circle and is currently managed by a consortium called Center. The project is backed by Coinbase, which also supports its purchase, and Bitmain. The USD Coin has since climbed up the ranks of stablecoins and is now considered a viable alternative to the controversial USDT coin. The dollar is trading up against the pound and the euro after the US unemployment rate fell to a 50 year low in September.
Unanimously approved by the Senate’s Economic Affairs, greater chances of passing a vote on a Senate floor is clear. Once passed to the Senate and lower house, it will be sent to the President to be signed into law. Yuga Labs, creators of Bored Ape Yacht Club, got their new collection of NFTs that crashed the Ethereum blockchains due to high demand. The new NFTs are essential parts of virtual land inside the Bored Ape Yacht Club’s new personally owned metaverse, dubbed Otherside. E-commerce giant, eBay, has already joined the NFT world with its launch of the first nonfungible token drop with a series of tokenized collectibles featuring the National Hockey League Wayne Gretsky.
We should still be able to clear out debts for most Anchor users depending on how much money LFG has left. I witnessed a site with investors getting hacked, and there was a lot of community turmoil. Ultimately, the site owner paid back most people with a small amount of funds, which made the majority of people happy and they came back to use the product. The larger shareholders were issued a debt token which is slowly being paid off. What was most interesting to me was that the stakeholder who lost the most amount of money (over 50% of the project was his) seemed the most chill and compliant. You will find that multi-billionaires tend to be more calm, reasonable, and rational when it comes to handling monetary losses.
- This drew some criticism, as it defeated one of the chief purposes of crypto coins.
- The deal underscores the appetite of deep-pocketed Chinese gaming giants for foreign studios and comes just a week after the acquisition by NetEase of unlisted French video games maker Quantic Dream.
- The attacks on Saudi Arabian facilities on Saturday has pushed up the price of oil and also had an impact in the currency markets during Asian trading hours.
- In 1940, a fixed exchange rate was implemented under the Bretton Woods system, when the pound was trading at $4.03.
- Treasury announced a complete ban on crypto mixer Tornado Cash calling it a tool to launder money across the world.
- At the time of writing, EUR/USD is trading at $1.0453, up 0.2% from today’s opening levels.
USDC can be used to represent equity or other assets that are denominated in U.S. dollars but whose prices fluctuate. So say you’re holding stock or other assets and commodities priced in dollars but the value of the dollar changes, you can use USDC to maintain the value of your investment. Then, to redeem USDC for U.S. dollars, the user must send their USDC to a designated account, which will then issue a wire transfer to the user’s bank account and the USDC is deleted from circulation.
Downside is tempered, however, by comments that a 50bps hike ought to follow in September. The ECB’s Bostjan Vasle added to this that further interest rate hikes look likely later in the year. The current situation in the Eurozone fell to its lowest since March 2021, fuelled, perhaps, by the ongoing energy crisis and indicating that a recession may be incoming.
USDC is governed by the Centre consortium, which provides a regulatory and operational framework and oversees the USDC stablecoin. The pound is up 0.24% at $1.3136 and is ahead of the single currency at €1.1842. Sterling is down 0.19% $1.3133 and off 0.11% against the euro at €1.1838. A quick https://www.tokenexus.com/ reminder of the movement in the pound the moment that exit poll was published from this tweet by the BBC’s economics editor Faisal Islam on Thursday. The pound has risen 0.35% against the dollar to $1.3067 after the Bank of England’s Monetary Policy Committee voted to hold the interest rate.
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Crypto mining in Iran seems like on and off last year, due to energy consumption issues. This year, the country lifted the crypto mining ban but only under strict conditions. According to the Ministry of Industry, Mine, and Trade , only mining farms with renewable energy resources will receive new crypto mining licenses.
- Amara is a graduate in Business Management, and has been following the world of crypto since 2019.
- AQRU may not offer certain products, features and/or services on the AQRU App in certain jurisdictions due to regulatory restrictions.
- The Euro weakened slightly on Muller’s remarks, disappointing those who’d hoped for a larger hike.
- What was most interesting to me was that the stakeholder who lost the most amount of money (over 50% of the project was his) seemed the most chill and compliant.
- LONDON -Britain’s new prime minister, Liz Truss, has named James Cleverly as her foreign minister, her office said in a statement on Tuesday.
- Data is calculated to the nearest 1%, and updated automatically every 15 minutes.
- So say you’re holding stock or other assets and commodities priced in dollars but the value of the dollar changes, you can use USDC to maintain the value of your investment.
The questions surrounding fiat backing for stablecoins have led many to doubt the veracity of those behind stablecoins. However, the USD Coin is considered a safer option than Tether’s USDT for a few reasons.
Author: Steve Goldstein