I work in Web 3
I work in Web 3
Subscribe to Masih
Subscribe to Masih
Share Dialog
Share Dialog
MasihGoogle Cloud adds 11 blockchains to data warehouse ‘BigQuery’
In 2018, Google launched a Bitcoin data set as part of the service, and later that year, it added Ethereum as well. It continued to expand its blockchain coverage in February 2019, adding Bitcoin Cash, Dash, Dogecoin, Ethereum Classic, Litecoin and Zcash. The Sept. 21 announcement means that BigQuery now carries data from a total of 19 blockchain networks. In addition to adding these new blockchains, Google has also implemented a new feature intended to make blockchain queries easier to execu...
MasihDeFi activity on the decline, but investment rolls in: Finance Redefined
The team behind Balancer, an Ethereum-based automated market maker, believes a social engineering attack on its DNS service provider led to its website’s front end being compromised on Sept. 19, leading to an estimated $238,000 in crypto stolen. “After investigation, it is clear that this was a social engineering attack on EuroDNS, the domain registrar used for .fi TLDs,” the firm explained in a Sept. 20 X (formerly Twitter) post. Approximately eight hours after the first warning of the attac...
MasihHow is DeFi margin trading getting safer with this cross-chain protocol?
Earlier this month, a project called Miss Universe Coin was announced at PBW. Donald Lim, the founder of the organization managing the PBW, said during the event that the PBW will “launch the Miss Universe Coin.” However, weeks after the announcement, the official organization behind Miss Universe denied any association with the coin project and called it a fraud. “There is currently no Miss Universe cryptocurrency or blockchain offering, and these products are in no way involved with the vot...
MasihGoogle Cloud adds 11 blockchains to data warehouse ‘BigQuery’
In 2018, Google launched a Bitcoin data set as part of the service, and later that year, it added Ethereum as well. It continued to expand its blockchain coverage in February 2019, adding Bitcoin Cash, Dash, Dogecoin, Ethereum Classic, Litecoin and Zcash. The Sept. 21 announcement means that BigQuery now carries data from a total of 19 blockchain networks. In addition to adding these new blockchains, Google has also implemented a new feature intended to make blockchain queries easier to execu...
MasihDeFi activity on the decline, but investment rolls in: Finance Redefined
The team behind Balancer, an Ethereum-based automated market maker, believes a social engineering attack on its DNS service provider led to its website’s front end being compromised on Sept. 19, leading to an estimated $238,000 in crypto stolen. “After investigation, it is clear that this was a social engineering attack on EuroDNS, the domain registrar used for .fi TLDs,” the firm explained in a Sept. 20 X (formerly Twitter) post. Approximately eight hours after the first warning of the attac...
MasihHow is DeFi margin trading getting safer with this cross-chain protocol?
Earlier this month, a project called Miss Universe Coin was announced at PBW. Donald Lim, the founder of the organization managing the PBW, said during the event that the PBW will “launch the Miss Universe Coin.” However, weeks after the announcement, the official organization behind Miss Universe denied any association with the coin project and called it a fraud. “There is currently no Miss Universe cryptocurrency or blockchain offering, and these products are in no way involved with the vot...
<100 subscribers
<100 subscribers
tablecoin issuer Circle has a $1 billion cash reserve pegged as insurance against a declining market capitalization and fresh competition from the traditional finance and technology industries, said CEO Jeremy Allaire.
Related: PayPal launches PYUSD stablecoin for payment
Circle is best known for its USDC
stablecoin, a digital token similar in design to regular cryptocurrency but backed entirely by fiat — in this case, the United States dollar.
However, since at least 2021, the company’s primary form of revenue has come from interest on its cash holdings and through its treasuries services. For the first half of 2023, Circle had a reported revenue of $779 million, surpassing its total revenue of $772 for 2022.
Despite this, the company has seen its market share in the stablecoin space decline from $45 billion at the start of 2023 to $26 million in just seven months.
Allaire attributes this decline to cryptocurrency exchange Binance’s decision to pull backing from USDC in favor of its own token and other unfortunate events in the market. “The Terra collapse helped us; the Binance forced-conversion hurt us,” the Circle CEO told Bloomberg, adding that “the FTX collapse sort of helped us, and then the failure of regional banks hurt us.”
tablecoin issuer Circle has a $1 billion cash reserve pegged as insurance against a declining market capitalization and fresh competition from the traditional finance and technology industries, said CEO Jeremy Allaire.
Related: PayPal launches PYUSD stablecoin for payment
Circle is best known for its USDC
stablecoin, a digital token similar in design to regular cryptocurrency but backed entirely by fiat — in this case, the United States dollar.
However, since at least 2021, the company’s primary form of revenue has come from interest on its cash holdings and through its treasuries services. For the first half of 2023, Circle had a reported revenue of $779 million, surpassing its total revenue of $772 for 2022.
Despite this, the company has seen its market share in the stablecoin space decline from $45 billion at the start of 2023 to $26 million in just seven months.
Allaire attributes this decline to cryptocurrency exchange Binance’s decision to pull backing from USDC in favor of its own token and other unfortunate events in the market. “The Terra collapse helped us; the Binance forced-conversion hurt us,” the Circle CEO told Bloomberg, adding that “the FTX collapse sort of helped us, and then the failure of regional banks hurt us.”
No activity yet