According to Thursday’s press release, Circle has terminated its existing business agreements with Concord, and has entered a new merger deal that is expected to be finalized by December of this year.
NAGAX is a subsidiary of the Hamburg-headquartered NAGA Group AG, a rapidly growing investment firm that allows traders to gain exposure to stocks, crypto, forex, and ETF markets. With NAGAX, the company is deepening its commitment to digital assets and looks to disrupt the crypto exchange landscape with a combination of social trading features and a rich portfolio of trading products and services.
Circle’s USD Coin has reached a significant milestone on Tuesday, having surpassed $50 billion in circulating supply for the first time since launching in May 2018. With its recent expansion to the Flow platform, USDC is now providing liquidity and stable value transfers on eight different blockchain ecosystems, including Ethereum, Avalanche, Tron, and Solana.
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.
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.
Are you wondering about how the market has changed since Bitcoin last hit $60K in mid-April? We’re taking a look at historical market data to see what has changed in the last six months.
Thanks to the strong performance of cryptocurrencies in the market (Bitcoin alone is up over 300% in the last year), the number of people that own crypto has seen a sharp increase. And while many cryptocurrency owners are happy with just passively HODLing their coins, others are looking to actively use the technology and experience its unique advantages. Cryptocurrencies enable 24/7 transactions anywhere in the world, typically at much faster speeds and lower costs than using traditional banking and remittance services.