Summary: There has been a rumor circulating on crypto-twitter that Circle’s USDC stablecoin is on the brink of collapse. According to the rumor, Circle is losing money to pump USDC’s market cap. Additionally, Circle had exposure to crypto firms experiencing financial woes, including Genesis Trading, BlockFi, Celsius, Galaxy Digital, and Three Arrows Capital. However, Colin Wu has pointed out that the regulatory requirements for USDC are stringent, so the rumors should be dismissed. For the last 48 hours, crypto Twitter […]
