Coinbase Removes USD Coin (USDC)”Backed By Dollar” Statement
Tether (USDT) now has an advantage over USD Coin (USDC). As a result, Circle’s dollar-pegged stablecoin, USDC, lost one of its largest leveraging stances to its main competitor, USDT. Coinbase, one of the prominent players in crypto exchange, has made a crucial change on the USD Coin page. The crypto exchange placed the change on its website. Related Reading | Vitalik Buterin Urges Ethereum To Grow Beyond DApps This was in response to an audit that exposed that a few USDC’s reserves were not held in cash. The audit discovery contradicts the statement that every USDC has a....
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The Coinbase website now states that USD Coin is “backed by fully reserved assets,” contrary to the now-removed claim of “backed by U.S. dollars in a bank account.” USD Coin (USDC), Circle’s dollar-pegged stablecoin, seemingly lost one of its biggest competitive advantages over its rival, Tether (USDT). Major crypto exchange Coinbase made an important change on the USD Coin page on its website following an audit which revealed that not all of USDC’s reserves were held in cash. This rain contrary to the previous statement that “each USDC is backed by one U.S. dollar held in a bank....
USD Coin (USDC) stands as the second-largest stablecoin after Tether (USDT). The recent times, USDC has proved to be a great coin through its massive growth achievement that, on some occasions, has exceeded USDT on several platforms. Furthermore, USDC is backed by the US dollar in its functionality, ensuring its security and stabilizing its value. […]
The bullish trend in the cryptocurrency market is tolling a remarkable route in the month of August. For the first time since May, the industry is recording a total market cap that is almost $2 trillion. The data from CoinGecko, a crypto data aggregator, indicates that the total crypto market value crosses $1.9 trillion a few days ago. This was after the market hit the mark since May 18. Related Reading | Coinbase Removes USD Coin (USDC)” Backed By Dollar” Statement From July 19, the entire crypto market experienced a considerable surge that pushes the total market value to about $700....
The popular football Player Lionel Messi recently signed a contract with Paris Saint Germain. The contract, which will run for two years, comes with many tokens owned by PSG fans. The report we read discloses this arrangement between Lionel Messi and the French soccer club. Our new 💎 This is just the beginning … ❤️💙 #PSGxMESSI pic.twitter.com/39cppjOeYI — Paris Saint-Germain (@PSG_English) August 12, 2021 In a statement Paris Saint-Germain released, we learned that the tokens are a part of the welcome package or even a signing–on fee prepared for the footballer. According to....
KingTiger Casino recently went out of operation due to Ethereum congestion issues. The online casino announced that they wouldn’t be operating until they get a suitable solution for their users. On their website, the company said they shutting-down due to congestion on the Ehereum network. According to them, it has become impossible to run their games on the network with their current format. Related Reading | Coinbase Removes USD Coin (USDC)” Backed By Dollar” Statement For now, KingTiger Casion is searching for a better solution to accommodate their new games and advanced....