Cryptocurrency News Today TheBitTimes.com

Leading crypto exchange Binance and stablecoin issuer Circle are teaming up to expand the adoption of USDC. In a statement, Binance says the strategic partnership, which was announced at the Abu Dhabi Finance Week on Wednesday, will make USDC more available across its suite of products and services. The exchange says the collaboration will enable its users to seamlessly access and use the dollar-pegged stablecoin for trading, saving and payment applications. Says Binance CEO Richard Teng, “Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.” Binance says it will also integrate USDC into its financial strategy. “Additionally, Binance will adopt USDC as a vital U.S. dollar-pegged stablecoin for our corporate treasury, signaling a significant move towards on-chain financial operations.” For its part...

Layer-1 chain Sui is igniting another leg of its rally, brushing up against all-time highs while its network sees more growth. At time of writing, SUI is up 140% in the last 30 days, and 266% from its yearly low hit in August. According to blockchain explorer Artemis, daily transactions on the Sui blockchain have more than doubled since October began, going from 4.1 million to over 9 million at time of writing. Early Monday morning, crypto exchange Bybit announced support for Sui on its Launchpool platform, making Sui only the second chain available on the service after Mantle (MNT). Says Emily Bao, head of spot and Web3 at Bybit, “Recently, with the strong development of the SUI ecosystem, we quickly listed the NAVI protocol, a leading project in the SUI ecosystem, and introduced staking for the SUI token pool on our Launchpool. This marks Bybit’s first mining pool beyond the Mantle ecosystem native tokens, and SUI is just the beginning. Moving forward, we wil...

During Coinbase ’s Q2 earnings call on Thursday, chief and founder Brian Armstrong stammered a reply to a question about stablecoin USDC , unexpectedly revealing that its market cap had gone up after Binance sold all its holdings. “USDC market cap is up after Binance pulled out,” Armstrong stuttered out during Coinbase’s earnings call. The unexpected answer seemed to imply that crypto exchange Binance was a holder of Circle and that USDC is safer now that Binance no longer holds the stablecoin. Coinbase is a member of the consortium that owns USDC. It’s the preferred stablecoin for the exchange’s operations. However, USDC’s market cap is shrinking fast, dropping from $44.5 billion at the start of this year to just $26 billion at press time. Earlier this year, the Federal Deposit Insurance Agency had to take over Circle’s main banks, namely Signature and Silicon Valley Bank, to prevent a bank run. This controversial move effectively saved USDC. Coinba...