"The feature of liquid dollar digital currencies should be that they are redeemable on demand, and at par at all times, even during conditions of stress," Disparte added.įor a weekly update on cryptocurrencies and digital assets sign up for Reuters Crypto Wire newsletter here. When a block is added, its hash is based on the hash of the previous block, which was based on the hash of the block before it. Herein lies an interesting technique that keeps the blockchain accurate and immutable. Dante Disparte, Circle's chief strategy officer and head of global policy, said that there will be "challenges" relating to liquidity and redemptions when assets are swapped in the way Binance has done with USDC. That validation work is rewarded, and the block is added to the chain. USDC, issued by U.S.-based firm Circle, is the world's second-biggest stablecoin. Five top crypto stories this past week: Binance.US’s woes continue, SEC targets NFTs, Lazarus strikes again, and more Mark Cuban loses 860,000 of crypto to phishing attack CZ says Binance. We expect the situation will be restored when the banks open." Binance has registered 1.9 billion of withdrawals in the past 24 hours, blockchain data firm Nansen said on Tuesday, as the worlds biggest crypto exchange said it had 'temporarily paused. "The banks are not open for another few hours. BlockX is in the last 24 hours with a circulating supply of 0.00. BCX to USD price is updated in real-time. Zhao said on Tuesday swapping USDC with two other tokens - Paxos Standard and Binance USD - requires using traditional dollars at a bank in New York. The live price of BlockX is 0 per (BCX / USD) with a current market cap of USD. Binance said in September it would automatically convert user balances and new deposits of USD Coin and two other stablecoins into its own stablecoin, Binance USD.
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