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USD Coin (USDC) is a stablecoin released by popular exchange Coinbase in collaboration with payments company Circle in 2018. Backed by the US Dollar on a 1:1 ratio, the token is an ERC-20 token that can be purchased on Coinbase’s platform. Coinbase has said that it chose the Ethereum protocol because of its smart contract capabilities and strong developer support. 

Like other stablecoins, it is intended to help traders overcome the volatility of the market. Coinbase has said that it is part of its mission is to “build an open financial system for the world”, and it does indeed allow anyone from across the world to purchase the stablecoin and use it for trading and various services.

Stablecoins often receive scrutiny relating to whether or not the issuing entity has enough reserves to back every token up, but Coinbase assures users that the holding accounts are closely monitored and audited. USD Coin is an example of a fiat-backed stablecoin, which is often what receives the greatest scrutiny. 

Having one very specific purpose, there is not much in the way of development news for USD Coin. Coinbase is however working on making it more widely available, including on more exchanges and services.

How USDT Works - Is It Safe?

5 hours ago 2 minute read 0 comments Cryptofab

Tether (USDT) is the most popular stablecoin and the third crypto in the world in market cap, just after Bitcoin (BTC) and Ethereum (ETH). Further to UST crash, USDT temporarily lost its peg to USD, down to $0.92. If USDT collapses like UST did, it w...

Krystal Newsflash (1st July 2022)

2 Jul 2022 2 minute read 0 comments Krystal DeFi

Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week: 3AC Liquidated After weeks of uncertainty around the hedge fund, 3 Arrows Capital (3AC) has been ordered by a court in the British Virgin Isla...

Dex Finance - Yield Driven Stablecoin Protocol

29 Jun 2022 5 minute read 0 comments CryptoMasterMiner

I'm a huge fan of yield farming and specialize in Tomb Forks on the Binance Smart Chain (BSC) due to the low fees on the network and many options that exist. Tomb Forks are protocols that take the code from the Tomb Finance protocol. These protocols...

3AC is Served

28 Jun 2022 3 minute read 0 comments Cje95

By now I am pretty sure we all knew that it was only a matter of time before 3AC issues were going to officially be public. Really up until today, there was always an off chance that they could have been saved somehow by someone and dodged the prover...

Its Time to See Crypto Step Up and Save Crypto or Else

23 Jun 2022 2 minute read 1 comment Cje95

Given the current macroeconomic climate industries across the board are reeling from the disappearance of "cheap money" and increase in interest rates. Crypto has been hit especially hard ever since LUNA crashed followed by Celsius and Three Arrows....

CageChain Newsletter #214 | CaaS Afropolitan Secures Funding, Tether vs. USDC, Crypto Bailouts, Celsius Short Squeeze and More

23 Jun 2022 1 minute read 0 comments KHubbard

Looking to right historical wrongs and build a global digital community with real-world impact, Web3 collective Afropolitan announced that it had raised $2.1 million in pre-seed funding to advance its vision of a digital nation for the African Diasp...

How USDC Works - Is It Really Without Risk?

21 Jun 2022 2 minute read 0 comments Cryptofab

Stablecoins have become a USD 150 billion market and a point of concern for regulators. As of now, Bitcoin (BTC) price is about $21k, and the total crypto market cap is about USD 950 billion. Therefore, USD stablecoins are currently about 16% of the...

Elon Musk Dumps DOGE, Gets Sued

20 Jun 2022 2 minute read 15 comments Allen Taylor

Bitcoin bounces, jumps above $20k again while Ethereum shoots past $1,100. El Salvador President Nayib Bukele addresses investor concern regarding the bitcoin bear market. How investors are looking at bitcoin right now. Since El Salvador made bitcoin...

Bitcoin's Crash Isn't Over Yet (And Other Tales From Crypto)

17 Jun 2022 3 minute read 5 comments Allen Taylor

3 metrics indicate the bitcoin crash isn’t over. Still, BTC is undervalued. Bitcoin Magazine warns: As the price continues to fall, don’t trust custodians. Read all three of these and take them to heart. The fall isn’t over, bitcoin is undervalued, a...

My 'Three Coin Strategy' and 3 projects that tie into these coins

16 Jun 2022 6 minute read 2 comments CryptoMasterMiner

I hope many of you were able to enjoy ten chapters from my first yield farming e-book, each chapter released as an article on this platform. I'm not going to release the chapters from my second e-book, however, I will give you a peak into my strategy...