USDC

abracars

Abracadabra’s Stablecoin Races Past $1B and Sparks Talk of Overtaking MakerDAO

New collateralized stablecoin, Magic Internet Money (MIM) is challenging MakerDAO, the grandaddy protocol of DeFi. MIM, issued by lending protocol Abracadabra, broke $1B in supply on Oct. 5, placing it seventh overall in terms of stablecoin market cap, according to CoinGecko.  That’s $5.39B behind Maker’s DAI stablecoin supply. So while MIM still has a ways …

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Startup Icon AngelList Embraces DeFi by Opening Site to USDC

Add AngelList to the ever-lengthening list of mainstream tech outfits going crypto. On Tuesday it started letting investors use USDC-enabled funds on its site.  It’s a significant move. For the last decade, AngelList’s online bulletin board for angel investors and job-seekers has made it a valuable utility in the U.S. startup scene by playing matchmaker …

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spaccircle

Circle To Go Public in Q4 at $4.5B Valuation

DeFi’s most popular stablecoin issuer is going public. Circle, which issues the USDC stablecoin, announced its plans yesterday to go public in Q4 of this year through a special purpose acquisition company (SPAC). The deal will happen with Concord Acquisition Corp. and Circle will trade under the ticker symbol CRCL with the transaction valuing the …

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safedollar

SafeDollar Stablecoin Plummets to Zero After Exploit

The value of SafeDollar (SDO), an algorithmic stablecoin intended to be pegged to $1, has dropped to zero after a $248K exploit on Polygon. In a post-mortem analysis published on June 28, SafeDollar reported it had lost $202K of USDC and $46K of USDT as a result of an attack on one of its pools …

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The State of Stablecoins in DeFi: A Deep Dive by DappRadar

Stablecoins are one of the fastest-growing asset types in the crypto world. The purpose of these cryptocurrencies is to track a particular peg (usually the dollar) minimizing volatility and providing a convenient unit for transacting. They have become the lifeblood of the DeFi ecosystem and may look to take over other sectors like remittance and …

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