Circle USDC Warning Is Revealed By Coin Bureau
Coin Bureau reveals a strong warning about Circle’s USDC. Check out the latest reports about all this below. Circle’s USDC warning is out It’s been just revealed that Coin Bureau is addressing an important warning regard...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Coin Bureau reveals a strong warning about Circle’s USDC. Check out the latest reports about all this below.
Circle’s USDC warning is outIt’s been just revealed that Coin Bureau is addressing an important warning regarding Circle’s USDC. Here’s what you need to know.
According to the latest reports, it seems that the host of the popular crypto channel Coin Bureau is predicting one US dollar-pegged stablecoin is poised to run the market.
It’s also been revealed the fact that Coin Bureau host Guy Turner said that Circle’s USD Coin (USDC), the second-largest stablecoin by market cap, is on its way to overtaking Tether’s USDT as the world’s dominant stablecoin.
“The growth of USDC’s supply over the past few years is further evidence that [USDC’s] strategy has been working. I also think that it’s inevitable that USDC will become the predominant stablecoin in the next two years. However, I can’t say that I’m completely happy about that.”
Turner warned his viewers about his concerns with USDC’s issuer Circle, a centralized firm that he says answers to the traditional finance (TradFi) world and perhaps has a goal of monopolizing the market.
“While Circle’s vision for crypto payments adoption is something I can get on board with, I’m still quite skeptical of its true underlying motives. It is backed by Goldman. It is partnered with BlackRock. It has embarked on some powerful lobbying initiatives to get in the ears of politicians in [Washington DC] and Brussels.”
He also said the following:
“It’s also shown that it’s ready and willing to censor transactions should it be instructed to do so by the powers that be. I also think that stablecoin competition is healthy. It encourages issuers to continue developing better products and allows people to diversify their stablecoin holdings. We don’t want a monopoly.”
The post Circle USDC Warning Is Revealed By Coin Bureau first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Bloomberg Launches $300B Stablecoin Dashboard With Hourly Onchain Data on Terminal
Key Takeaways: Allium has now provided Bloomberg Terminal with hourly stablecoin data. The dashboard includes over 98% of the stab...
San Francisco Fed study finds stablecoin Treasury growth offsets China’s retreat
A San Francisco Fed study finds stablecoin issuers added about $200 billion in Treasuries, offsetting over 40% of China's decline...
Open USD bets Stripe’s $1.9 trillion network can break USDT and USDC’s grip
Open USD, a new stablecoin backed by more than 200 organizations, has launched with about $468 million in circulation and a distri...
Circle mints about 13.50 billion USDC on Solana in September
The surge in USDC minting on Solana highlights its growing role in crypto finance, potentially boosting its ecosystem and institut...
Verda report warns LATAM stablecoin liquidity rests on 16 firms
The concentration of stablecoin liquidity among few firms in LATAM poses systemic risks, potentially destabilizing the region's fi...
Senate tax bill frees stablecoin spending while Bitcoin stays on IRS forms
A coffee bought with a qualifying dollar stablecoin would avoid gain-or-loss recognition under the ADAPT Act that Sen. Steve Daine...