Key figures from the wider cryptocurrency space painted a picture of increased dialogue and collaboration at the World Economic Forum Annual Meeting in Davos. Cryptocurrencies and blockchain technology remained but a small part of the projects and initiatives discussed and workshopped at the annual WEF conference high in the Swiss Alps. However, an increased number of sessions focused on the sector suggests that the wider world is looking for synergies between traditional finance and decentralized finance. This theme emerged from a number of interviews conducted by Cointelegraph during January’s conference in Davos. Senior executives from XRP issuer Ripple and USD …

A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December. The stablecoin issuer representative was responding to a Jan. 25 Financial Times article which characterized Circle as having “blamed” the securities regulator for its “derailed” listing as a result of dragging its feet on the approval of a merger agreement. However, a Circle spokesperson clarified to Cointelegraph that was not the case and that it doesn’t hold any blame over the SEC for the termination of its …

Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet. According to the Wall Street Journal, CoinDesk has sought the help of investment bankers from financial advisory firm Lazard, who are helping the firm weigh options including a full or partial sale. You know, I just realized that Coindesk is for sale. pic.twitter.com/QqmBPOClpu — Charles Hoskinson (@IOHK_Charles) January 19, 2023 DCG has purportedly received multiple offers exceeding $200 million to buy out the media firm over the last few months, which would result in a phenomenal …

Venture capital firm Digital Currency Group (DCG) has told shareholders it is halting its quarterly dividend payments until further notice as it attempts to preserve liquidity. According to the letter sent to shareholders on Jan. 17, the firm is focused on “strengthening our balance sheet by reducing operating expenses and preserving liquidity.” Its financial issues are derived from the woes of its subsidiary, crypto broker Genesis Global Trading, which reportedly owes creditors more than $3 billion and DCG is also considering selling some of the assets within its portfolio. Customers are currently unable to withdraw funds from Genesis after it …

Circle's chief strategy officer and head of global policy, Dante Disparte, believes that the turmoil in the crypto sector over the last year could mark the handover of crypto technology to more durable companies and "steadier hands" in 2023. In a Jan. 2 post for The World Economic Forum (WEF), Disparte highlighted the growing use of crypto in the financial services sector and opined that the ongoing bear market and exchange collapses may ultimately be a boon for the industry, paving the way for "responsible, always-on internet finance." "Just as it took the dot-com bubble bursting in the early 2000s …

Is USD Coin safe? Despite the fact that the USD Coin is subject to regulatory oversight, investors must weigh the pros and cons of investing in stablecoins before committing any funds. Comparing USDC with USDT, USDC is subject to regulations as it is audited from time to time, and Circle is fully transparent about its operations. However, investing in the cryptocurrency market, even in stablecoins, has its own cons. For instance, the price of the USD Coin will never appreciate as it is pegged to the U.S. dollar. This disadvantage is offset by the provision that USDC can be lent …

United States-based cryptocurrency exchange Coinbase has asked its customers to convert their Tether-issued USDT (USDT) stablecoin to USD Coin (USDC), a USD-pegged stablecoin issued by Circle and co-founded by Coinbase in 2018. The cryptocurrency exchange suggested that USDC is a much more secure alternative in the wake of the FTX collapse saga and has also exempted any fee on the conversion of USDT to USDC on its platform. The firm said: “We believe that USD Coin (USDC) is a trusted and reputable stablecoin, so we’re making it more frictionless to switch: starting today, we’re waiving fees for global retail customers …

USD Coin (USDC), a stablecoin issued by the U.S.-based Circle Financials Ltd, is taking the lead over its top rival, Tether (USDT), when it comes to institutional adoption, according to on-chain data. USDC daily transfer volumes are higher The market capitalization of USDC tokens in circulation comes to be around $44 billion versus USDT's $65.42 billion. However, USDC's daily transfer value on the Ethereum blockchain has been consistently higher than USDT throughout 2022, data from Glassnode shows. For instance, as of Nov. 22, the USDC daily transfer was around $14 billion compared to USDT's $5 billion. In other words, USDC …

Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance. In September, crypto exchange Binance announced it will auto-convert USDC to its own stablecoin Binance USD (BUSD), last week saw the collapse of FTX. Circle’s 2022 miscalculated projection was noted in its amended S-4 registration statement which was filed to the United States Securities Exchange Commission (SEC) on Nov. 14. The S-4 is a registration statement is a document that companies fill out and submit …

Circle, the issuer of the United States dollar-pegged stablecoin USD Coin (USDC), has added support for Apple Pay — with the intention of bringing the crypto and traditional payment systems closer together. Circle made the announcement in a Nov. 15 blog post suggesting it may boost sales for crypto-native businesses as they can facilitate traditional payments from non-crypto-using customers while enabling customers to “buy crypto with Apple Pay on their preferred exchange.” According to Circle, the addition of Apple Pay support will benefit traditional businesses by allowing them “to shift more retail payments to digital currency.” Apple Pay is available …

In what it hails as an effort to be transparent, Digital Currency Group’s market maker and lending subsidiary, Genesis Trading, revealed that its derivatives business has around $175 million worth of funds locked away in an FTX trading account. Genesis shared the news in a Nov. 10 tweet thread, in which the firm clarified that the locked funds would “not impact our market-making activities.” As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities. — …

Amid the liquidity crisis that fell over crypto exchange FTX and trading firm Alameda Research, some of the largest crypto companies face calls for transparency to let users know if there are risks. However, executives assured the community that they do not have exposure to either of the troubled firms. In response to concerns brought up by the crypto community, Tether CTO Paolo Ardoino clarified in a tweet that the stablecoin issuer has no exposure to either of the distressed firms. According to the Tether executive, Alameda has previously redeemed a lot of Tether (USDT). Despite this, Ardoino highlighted that …