Major exchanges such as Binance, OKX, and Huobi, in turn, stopped trading USDC (SOL) without specifying the reason, causing Circle, the issuer of USDC, to speak up.

Circle says that USDC on Solana is operating as expected, and there are no issues with issuing or redeeming USDC. USDC is always redeemable 1:1 ratio for US dollars. Any amount of USDC can always be redeemed for free anytime.

Even the previous Circle CEO Jeremy Allaire, questioned this action of the exchanges, although Solana was greatly affected by the collapse of FTX. However, USDC on this blockchain is still circulating normally and without problems.

Binance also previously reopened trading with USDT (SOL) and Tether, the issuer of USDT has spoken out about the USDT backing.

Exchanges have yet to act on this statement by the USDC issuer.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Binance

Circle

Solana

USDC

USDT

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Related Posts

• Market Overview (Dec 9 – Dec 15): USDC Gains Momentum Backed by Binance and BlackRock
• Market Overview (Dec 2 – Dec 8): Altcoin Season Slows as Tether’s $2B Mint Hints at Turmoil
• Qubetics’ Multi-Chain Wallet Stands Out While Binance and Injective Shine: Best Coins to Invest in This Weekend 
• Best Cryptos to Invest in for Short Term as Qubetics Enters Final Days Before Price Increase While Binance Grows User Base and Monero Surges Past $200 
• Rumble Secures $775 Million Tether Investment to Expand in Digital Ecosystem
• Qubetics Innovates Payments as Solana Targets $4,000 and Cronos Gains Adoption, Here’s Your Playbook on Best Crypto for This Month
• Solana AI Hackathon Launches With $30k Prize And Global Tracks
• Ripple CLO Stuart Alderoty Criticizes Gensler With New Effort Against Binance

Uncategorized

Circle: USDC On Solana Operating As Expected

Major exchanges such as Binance, OKX, and Huobi, in turn, stopped trading USDC (SOL) without specifying the reason, causing Circle, the issuer of USDC, to speak up.

Circle says that USDC on Solana is operating as expected, and there are no issues with issuing or redeeming USDC. USDC is always redeemable 1:1 ratio for US dollars. Any amount of USDC can always be redeemed for free anytime.

USDC on Solana is operating as expected and there are no issues with issuing or redeeming USDC. USDC is always redeemable 1 for 1 for US dollars.
Any amount. Any time. For Free. Always.

— Circle (@circle) November 17, 2022

Even the previous Circle CEO Jeremy Allaire, questioned this action of the exchanges, although Solana was greatly affected by the collapse of FTX. However, USDC on this blockchain is still circulating normally and without problems.

Binance also previously reopened trading with USDT (SOL) and Tether, the issuer of USDT has spoken out about the USDT backing.

Exchanges have yet to act on this statement by the USDC issuer.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Other Posts

Related Posts

[tptn_list limit="8" title_length="0" heading="0" show_date="0" daily="1"]