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Top Cryptocurrency Exchange Binance Converts $1,000,000,000 Secured Asset Fund from Bitcoin and BNB to USDC Stablecoin

The leading global crypto exchange established the “Secure User Asset Fund” (SAFU) in 2018 to protect Binance users from “extreme situations.” The fund typically tries to maintain a balance of $1 billion, although fluctuating cryptocurrency prices have affected the value of its holdings over the years. At the end of 2022, the fund held $700…

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Circle invests in Sei Blockchain Layer-One to expand use cases for USDC

Stablecoin issuer Circle is investing in a new Layer 1 blockchain to expand use cases for USDC, its dollar-pegged digital asset. In a new company blog post, the Sei Network (SEI), which claims to be the world’s fastest blockchain, claims that Circle’s venture capital arm is investing in it to expand the utility of USDC….


Bank of England proposes retail integration with stablecoin

The Bank of England and the Financial Conduct Authority have outlined a plan for the integration of stablecoins into the UK financial ecosystem. This innovative initiative marks a pivotal moment for digital currencies and promises to securely integrate them into the country’s monetary fabric. Stablecoins come into regulatory focus In a decisive response to digital…

USDC Market Cap Falls as Redemptions Rise to $1.4 Billion

As one of the largest stablecoins, USDC is one of the major players in the cryptocurrency industry. However, stablecoins have seen better days as the stablecoin has seen its market capitalization drop dramatically in recent months. The second largest stablecoin has seen its market capitalization drop by more than $1.4 billion in recent days, thanks…

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Dai Turns Around BUSD to Become 3rd Largest Stablecoin as Binance Faces Increasing Legal and Regulatory Headaches

A rival Binance USD (BUSD) flipped the dollar-pegged asset to become the world’s third-largest stablecoin. New data reveals that Dai (DAI), the stablecoin issued by MakerDAO, has outperformed BUSD as Binance, the world’s largest cryptocurrency exchange by volume, faces mounting legal troubles and regulatory setbacks. At the time of writing, the market capitalization of DAI…