Whale Clip: Coinbase sends $330m $USDC to Fireblocks on @solana solana:So11111111111111111111111111111111111111112
https://t.co/F89ErWx4fK https://t.co/2i6UL9ARF9
Whale Clip: Coinbase sends $330m $USDC to Fireblocks on @solana solana:So11111111111111111111111111111111111111112
https://t.co/F89ErWx4fK https://t.co/2i6UL9ARF9
⚠️LATEST⚠️
CIRCLE ($USDC) shares plunge 16% after $OUSD announcement
▪️Circle's shares fell sharply after Open Standard launched OUSD, a stablecoin backed by more than 140 companies.
▪️Among those 140 companies are #Ripple, Stripe, Coinbase, Visa, Mastercard and BlackRock.
▪️Neither Circle, Tether, nor PayPal are on this list.
What is the key difference of OUSD?
📍Unlike USDC, which is a centralized stablecoin issued by Circle, where the company keeps all the yield generated by the reserves, OUSD automatically redistributes that yield among its holders and partners. USDC holders only maintain a 1:1 parity with the dollar and receive no interest.
📍For this reason Circle's shares are falling.
JUST IN: Over 5.4M $USDCx has been minted in the past 48h on Cardano. Circle's USDCx now surpasses $35M in reserves on $ADA according to Cexplorer.
USD Coin is a stablecoin brought to customers by Circle and Coinbase. It is an open source, smart contract-based stablecoin. True financial interoperability requires a price stable means of value exchange. CENTRE’s technology for fiat-backed stablecoins brings stability to crypto. The initial implementation is USD Coin (USDC), an ERC-20 token creating possibilities in payments, lending, investing, trading and trade finance — and the ecosystem will grow as other fiat currency tokens are added.