Circle marks a possible $3B loss from Binance stablecoin conversions
Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance. In September, crypto exchange Binance announced it will auto-convert USDC to its own stablecoin Binance USD (BUSD), last week saw the collapse […]
Stablecoin issuers Circle and Paxos gain approvals in Singapore
Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state’s central bank. Circle received in-principle approval for a Major Payments Institution License allowing it to issue cryptocurrencies and facilitate domestic and cross-border payments while Paxos received its license to offer digital payment token […]
Crypto remittances must have allure of cash without regulatory constraints — Jeremy Allaire
Digital cash systems built on the blockchain must retain the qualities of physical money in order to attract more users in developing countries — and must be able to do so without regulatory constraints — according to Circle CEO Jeremy Allaire. In a panel discussion at the World Economic Forum’s Annual Meeting, titled “Remittances for Recovery: […]
Circle CEO joins appeal against US Treasury self-hosted crypto wallet ban
Jeremy Allaire, CEO and co-founder of peer-to-peer payments firm Circle, sent a letter to senior staff of the United States Department of the Treasury on Dec. 9, appealing for regulators to collaborate with the industry in adopting crypto regulations. Allaire warned U.S. regulators that some of its proposed rules pose a direct risk to the […]
Biden team will boost crypto's role in US infrastructure, says Circle CEO Allaire
Allaire also sees political moderation as the best scenario for continued crypto development.