Giveaway

Circle Internet Financial’s USDC, the second-largest stablecoin by market capitalization, lost and then regained parity to the U.S. dollar after regulators took over the failed Silicon Valley Bank and guaranteed deposits, including Circle’s, to prevent a broader run on the banking industry.

Bitcoin’s latest resurgence, which saw the world’s largest cryptocurrency by market capitalization hit a new nine-month high in the mid-$26,000s on Tuesday, has been accompanied by a number of key technical and on-chain indicators roaring back to health and once again send a bullish BTC signal.

Recent bank failures have highlighted the need for Blockchain-based cryptocurrency such as Bitcoin. redit rating agency Moody’s has recently downgraded its outlook on the entire United States banking system from “stable” to “negative.” The move comes in light of the recent failures of Silicon Valley Bank, Silvergate Bank and Signature Bank, which has prompted regulators to intervene with a rescue plan for impacted depositors and institutions. 

RockX, a Singapore-based blockchain company, is looking to attract institutional investors to liquid staking with its new service, Bedrock.

Blockchain security Halborn says a vulnerability it found last year on the open-source codebase of the Dogecoin network is still present in at least 280 other networks, as per a Monday post.

Digital asset investment products saw their highest-ever weekly outflow last week, according to the latest Digital Asset Fund Flows Weekly Report released by CoinShares. The $255 million in net outflows amounted to 1.0% of total assets under management (AuM) fleeing from the space.

According to reports, OpenSea has fixed a flaw that, if exploited, might have revealed personal information about its anonymous users.

The short-lived NFT features were first launched in May, but Meta’s financial technology lead said it is “winding down” the tools to focus elsewhere. Big Tech firm Meta is scrapping its nonfungible token features across its social media platforms, Facebook and Instagram, around 10 months after they first launched.

Circle Internet Financial’s $3.3 billion cash reserves problem was seemingly solved Sunday when federal regulators promised that depositors of failed Silicon Valley Bank would be made whole in short order. But Circle’s USDC stablecoin isn’t out of the woods.