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USDC regained its dollar peg four days later. [13] In August 2023, Circle and Coinbase dissolved the Centre Consortium, the entity responsible for managing USDC since 2018. This decision granted Circle full governance over USDC. [14] In February 2024, Circle discontinued USDC on the TRON blockchain following a risk management review. Although ...
The company has received over US$135 million in venture capital from 4 rounds of investments from 2013 to 2016, including US$50 million led by Goldman Sachs. [4] [5] [6] In April 2015 The New York Times reporter Nathaniel Popper wrote that the Goldman Sachs investment "should help solidify Bitcoin’s reputation as a technology that serious financial firms can work with."
The value of stablecoins of this type is based on the value of the backing currency, which is held by a third party–regulated financial entity. Fiat-backed stablecoins can be traded on exchanges and are redeemable from the issuer. The stability of the stablecoin is equivalent to the cost of maintaining the backing reserve and the cost of ...
The move will position Ripple against sector leaders Tether (USDT) and Circle (USDC), which together dominate 90% of the stablecoin market. For instance, among the top 10 stablecoins by market ...
USD Coin, according to the stablecoin's governing company, Circle, soon will be available on six additional blockchains: Base, Cosmos via the Noble network, NEAR, Optimism, Polkadot, and Polygon PoS.
In January 2015, the cryptocurrency exchange Bitfinex enabled trading of Tether on their platform. In 2018, Phil Potter, the chief strategy officer for Bitfinex, left the company after the Paradise Papers leaks in November 2017 named Bitfinex officials Philip Potter and Giancarlo Devasini as responsible for setting up Tether Holdings Limited in the British Virgin Islands in 2014.
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate system.
Pegged exchange rate within horizontal bands (1) Morocco ; Other managed arrangement (12) Kuwait Syria Liberia Myanmar Sierra Leone Zimbabwe Kenya Haiti Kyrgyzstan Tonga Vanuatu Venezuela ; Floating (32) Angola Belarus Madagascar Yemen Albania