The KelpDAO attack left behind bad debt and frozen positions across Aave, the conditions the USDC pool has been stuck in ever since. Circle is facing a wave of criticism after a proposal linked to its chief economist suggested sharply increasing USDC borrowing costs on Aave, as the lending pool grinds through a liquidity crunch […]
Circle Draws Backlash for Aave USDC Rate Hike Proposal Read More »
Extreme fear surrounds AAVE after exploit-driven outflows, but whale order clusters historically linked to market bottoms are reappearing. AAVE is undergoing one of its most volatile periods in recent history following the April 18 exploit of KelpDAO’s rsETH bridge. Attackers used the stolen assets as collateral on Aave V3, borrowing approximately $196 million in wrapped
Whales Circle AAVE Amid Chaos: Is This Another Market Bottom Signal? Read More »
Allaire defended Circle’s inaction during the exploit, stating that Circle only acts when the law obligates it to do so. The stablecoin issuer Circle has doubled down on its defense against criticism for failing to act during an exploit that led to roughly $280 million in losses from the Solana-based Drift Protocol. This time, the
Circle CEO Blames ‘Moral Quandary’ for Not Acting on $280M Drift Exploit Read More »
Circle accelerates Arc blockchain development toward production with 150 million testnet transactions and institutional partners including BlackRock and Goldman Sachs, targeting enterprise settlement as Tether’s 60.1% market dominance pressures USDC’s growth trajectory. The post Circle Targets Banks With New Enterprise Blockchain — Can It Win? appeared first on Cryptonews…
Circle Targets Banks With New Enterprise Blockchain — Can It Win? Read More »
On Wednesday morning in Abu Dhabi, Binance and Circle announced a strategic partnership to promote USDC, a stablecoin jointly owned by Circle and Coinbase. The collaboration comes as stablecoins gain traction in mainstream finance and competitors seek to challenge the dominance of market leader Tether. The Alliance Details about revenue sharing in this arrangement remain
Circle and Binance Partner to Drive Global USDC Adoption and Battle USDT Read More »
Representatives from crypto giants Coinbase and Circle have urged the U.S. government to crack down on non-compliant international digital asset firms – some of which include their biggest competitors. Grant Rabenn, Legal Director of Financial Crimes at Coinbase, told Congress on Thursday that criminals are seeking out “offshore platforms” to avoid anti-money laundering rules enforced
Coinbase and Circle Ask Congress To Clamp Down On Tether And Other Competitors Read More »
