• USDC passes $1 billion
    Alt coins

    Circle, Coinbase say USD Coin passes $1B

    The market cap milestone makes the USDC stablecoin a contender in a ring dominated by Tether

    Working together as the Centre Consortium, the firms claimed in a blog post that USDC reached that milestone quicker than any other digital dollar stablecoin. Most of that increase came on June 22, when the supply jumped from about $731 million to $920 million—rising by about one-third.

  • Maker Foundation to dissolve
    Alt coins

    ‘Completely pointless’ Maker Foundation to dissolve

    New proposals seek to turn MakerDAO into a truly decentralized, self-sustaining organization, ending a vicious cycle of ‘urgency, apathy, distraction, and denial’

    MakerDAO founder Rune Christensen unveiled proposals yesterday that will effectively cause what he believes has become a “completely pointless” Maker Foundation to dissolve over the next few years, allowing the decentralized autonomous organization live up to its name.

  • Poloniex attacks circle clam flash crash
    Alt coins

    New Poloniex bosses attack Circle, plan refund for those hit by CLAM price crash

    In a scathing blog post, the new management said: ‘We fully recognize the situation could have been handled more professionally’

    The Poloniex crypto exchange has offered an update on a major price crash that triggered a loss of 1,800 BTC back in May 2019—and delivered what appears to be a scathing rebuke to the company’s previous owners.

  • MakerDAO adds centralized USDC
    Alt coins,  Cryptocurrencies,  Ethereum

    DAI another day: USDC can be used as collateral at embattled MakerDAO

    Coinbase and Circle’s USDC stablecoin is now being accepted to back loans, raising questions of centralization at the ‘pure’ DeFi coin

    A major reservation with accepting USDC as collateral lied in how the stablecoin is centralized. This is a significant departure from Maker’s stance of ensuring DAI is only backed by decentralized assets—as USDC is the brainchild of Coinbase and Circle, major players in the crypto industry. As MakerDAO’s (now out of date) white paper noted: “Unlike other Stablecoins, DAI is completely decentralized.”