7 Crypto Platforms for Earning Passive Income on USD Stablecoins Many crypto platforms allow users to stake USDT, USDC, and dollars with an interest rate of 5-15%, without the risk of crypto market downturns. Coinbase Raises USDC Rewards to 5% Despite its ongoing confrontation with the SEC, Coinbase has decided to raise the annual interest rate for USDC held on its platform to 5%. USDC Emerges as Liquidity Champion, Outpacing USDT on CEXs On June 16, the cryptocurrency data provider Kaiko revealed that USDC became the most liquid stablecoin on centralized exchanges, with $38 million worth of bids. Circle Appoints Former CFTC Chair as New Chief Legal Officer Heath Tarbert, the ex-chairman of the United States Commodities Futures Trading Commission (CFTC), has been roped in by Circle, the company behind the USDC stablecoin, as its chief legal officer, as disclosed on Thursday. 5 Key Takeaways from the USDC Depeg USDC Depeg has given yet another opportunity to reflect on the problems in the cryptocurrency market. A chance to consider solutions for future challenges. Sponsored Sponsored USDC update CEO of Circle, the company behind the USDC stablecoin, Jeremy Allaire has reported that 100% of their deposits held at SVB are completely safe! What is a USD Coin? USD Coin is a digital dollar issued by Circle and Coinbase Global cryptocurrency exchange. It is the second-largest stablecoin by market capitalization after Tether. Circle Defends Stablecoins in Binance's SEC Case Circle (USDC stablecoin issuer) has intervened in Binance's ongoing SEC lawsuit, arguing that stablecoins should not be classified as securities. SAP Explores Cross-Border Payments with USDC SAP, the largest non-American software company in terms of revenue, has made an announcement regarding its use of US Dollar Coin (USDC) for testing cross-border payments. Sponsored Curve 3Pool Faces Imbalance as USDT Dominates The equilibrium of the Curve 3Pool, designed to maintain a balanced distribution of USDT, USDC, and DAI stablecoins at 33.33% each, is facing significant disruption. Banks Pose a Risk to Crypto, Not Vice Versa The collapse of the three “S” banks – Silvergate, SVB, and Signature Bank – left a bitter taste in the crypto companies’ mouths. This includes Circle, the issuer of the USDC stablecoin. Bitcoin Takes a Dive: What Caused the Drop Below $20,000? In March, the cryptocurrency market had a rough time, with the price of Bitcoin dropping below $20,000 once again. Contrary to some speculation, this drop was not due to market manipulation by so-called "market-makers" nor was it caused by the USDC depeg from the US dollar, as that happened later. So what actually caused this price drop? Is BitMEX profiting from the crypto community's misfortune? The derivatives trading platform BitMEX has announced the launch of perpetual USDT/USDC swaps. Now the exchange will earn from traders speculating on the depegging of stablecoins from the US dollar. Crypto theft via wallet balance photo is (probably) impossible Scammers nicked a staggering amount of $4M in USDC from a top executive at Webaverse, the gaming NFT project. During the meeting, the fraudsters requested a snapshot of the Trust Wallet balance screen. They disappeared without a trace along with the funds in the Trust Wallet.