“When news about unlimited support for bank deposits made the rounds, bitcoin prices exploded from $20,000 to $28,000 within a matter of days,” said Thielen in a note to clients on Thursday. “But it would appear that holders of USDC either converted their Circle stablecoin into Tether’s USDT or that they simply sold $10 billion of USDC and bought bitcoin instead.”
Philippines' Central Bank Gives Approval to Coins.ph to Pilot Stablecoin in Key Remittance Market
Philippines' central bank has given its approval to digital currency exchange Coins.ph to pilot a Philippine Peso backed stablecoin called...