The total supply of USD Coin on the Ethereum blockchain has surpassed Tether’s total supply for the first time last week. According to data from blockchain analytics firm The Block, USDC’s supply now amounts to $40.2 billion, while USDT’s Ethereum supply comes in second with $39.8 billion.
Tether, the owner and operator of the largest stablecoin network in the world, has blacklisted three Ethereum addresses on Thursday, and effectively froze $150 million in USDT split among them.
Digital payments giant PayPal is exploring the possibility of launching its own stablecoin to expand its growing suite of crypto products and services. The evidence of the company’s stablecoin endeavor was first spotted in the code of PayPal’s mobile app by software engineer Steve Moser, who shared his findings with Bloomberg on Friday.
Circle, the developer of the market’s second-largest stablecoin, has launched its flagship digital asset and widely used USD Coin (USDC) stablecoin as a native asset on Avalanche (AVAX). The company believes native USDC support will increase liquidity and boost the popularity of decentralized applications deployed in the Avalanche ecosystem.
The US financial industry watchdogs are preparing a joint statement with new regulatory guidelines applicable to the cryptocurrency industry. As reported by Bloomberg, the Office of the Comptroller of the Currency (OCC) is close to issuing a review of the blockchain sector, and the conclusions are likely to be unfriendly to crypto.
Avalanche (AVAX) has become the ninth blockchain platform to support the world’s largest stablecoin. Users of the high-performing and easily scalable network can now use Avalanche-native Tether (USDT) to gain access to the most liquid stablecoin in the industry.
The e-commerce behemoth Amazon is looking for a cryptocurrency and fintech expert to help lead the transformation of how Amazon Web Service (AWS) companies transact with digital assets.
After a prolonged wait, the US Treasury Department has finally released its report on risks associated with stablecoins on November 1. The report, which was put together by the President’s Working Group on Financial Markets (PWG), includes several proposals that would introduce stringent measures on stablecoins issuers and enforce additional rules on stablecoin reserves.
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