Coinbase is acquiring a minority stake in Circle Internet Financial, and the companies are ending their Centre Consortium partnership that issued the USD Coin (USDC). USDC is the world’s second-largest stablecoin, and as part of these changes, Circle will assume full control over its issuance and governance.
On Monday, the SEC announced charges against Titan Global Capital Management USA LLC, a New York-based FinTech investment adviser, for disseminating misleading advertisements that utilized hypothetical performance metrics. The SEC’s primary concerns revolve around Titan’s disclosures about the custody of clients’ cryptocurrency assets and other compliance failures.
A recent “flash crash” in Bitcoin’s price to $26,000 has left speculators grappling with substantial losses. Glassnode’s research indicates that a staggering 88% of Bitcoin holdings held by speculators—those categorized as short-term holders (STHs)—are now underwater.
Also published on Medium.