$USDC

USDC (USD Coin) is a stablecoin pegged 1:1 to the U.S. dollar. Here's a quick rundown of what's been happening:

What is USDC?

* It's a digital currency designed to maintain a stable value of $1 USD.

* Issued by Circle, a regulated financial service business.

* Each USDC is backed by U.S. dollar-denominated assets held in regulated U.S. financial institutions.

* Aims to provide the stability of fiat currency with the flexibility of blockchain technology.

* Used for global money transfers, DeFi (Decentralized Finance), trading, and payments.

* Available on multiple blockchains, including Ethereum, Solana, and others.

Recent News:

* USDC Treasury burned over 50 million tokens on Solana. This was reported by WhaleAlert and indicates a reduction in the circulating supply on that blockchain.

* Binance Earn launched a passive income opportunity for USDC holders. This allows users to earn rewards simply by holding USDC on the platform.

* There's ongoing discussion about the USDC/USDT trading pair, with analysis suggesting it's a stable pair suitable for low-risk transfers and liquidity provision.

* Ripple reportedly made a $4-5 billion bid to acquire Circle, the issuer of USDC, but the offer was apparently rejected.

* Legacy warnings are still seen as restricting the use of stablecoins in treasuries, highlighting ongoing regulatory discussions.

* BlackRock-backed Securitize raised strategic funding from Jump Crypto, indicating growth in the tokenization of real-world assets, an area where stablecoins like USDC play a role.

* Visa reported that USDC overtook Tether in stablecoin transaction volume in August 2024.

In essence, USDC remains a prominent stablecoin with ongoing developments in its usage, availability across different blockchains, and integration into various financial services.