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? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
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Circle Claims USDC Stablecoin Is Now Fully Backed by Cash, US Treasuries

Circle's latest report follows a move from fellow stablecoin issuer Paxos last week to release a detailed breakdown of all assets held in reserve.

Circle, the payments company behind the USDC stablecoin, has released a full asset breakdown of the reserves backing its growing dollar-pegged token.

The level of detail provided by Circle in its Thursday report, while unaudited, is a first for the company and a notable display of transparency given the scrutiny stablecoins currently face from regulators around the world, which recently intensified following the collapse of Terra.

Circle’s report shows that the company no longer holds commercial paper—a type of short-term, unsecured debt instrument—as part of its serves. In July of last year, Circle held 9% of its reserves in commercial paper but later promised to completely move to cash and U.S. treasuries.

Thursday's report shows that Circle held $42.1 billion in U.S. treasury bonds as of June 30. All of such bonds expire before September 29 or earlier. The remainder of the company’s reserves, $13.6 billion, are reportedly stored in cash and held with regulated financial institutions such as Signature Bank, Silicon Valley Bank, Silvergate Bank, and others.

That brings Circle’s total reserves to $55.7 billion—slightly higher than the 55 billion USDC tokens in current circulation.

USDC is currently the fourth largest cryptocurrency by market cap, and second largest stablecoin in the crypto economy. A stablecoin is a token value-pegged to a relatively price-stable asset or currency, such as the U.S. dollar.

Typically, stablecoins achieve stability by offering instant and easy redeemability with their underlying asset. This creates arbitrage incentives within the market that allow the stablecoin to reliably return to its price peg if ever met with volatility.

But that reliability has for years been put into question by both vocal critics within the crypto industry and the politicians and regulators who keenly observe it. And those voices have only grown louder following the May collapse of the former third-largest stablecoin in the market, Terra’s UST—an algorithmic stablecoin which was held steady by code and not by reserves.
Terra, once a popular blockchain for DeFi trading, drew in billions of dollars worth of investments by promising up to 20% returns on UST deposits on the now-defunct lending protocol Anchor. Following a run on Anchor, UST failed to hold its price and both the stablecoin and its sister token LUNA collapsed to zero.

Centralized stablecoin issuers such as Circle, Tether, and Paxos have since faced increased pressure to assure their clients that their tokens won’t meet the same fate, especially as account freezes and bankruptcies rock the once-trusted crypto lending sector.

Last week, Paxos—the USDP stablecoin issuer and custody platform behind the third-largest stablecoin, BUSD—provided a similar report on its reserve holdings. It too was backed solely by treasury bills, treasury bonds, and cash as of June 30, amounting to $17.5 billion in assets, according to its report.

👉Only Tether, the issuer behind the long-time king of stablecoins USDT, is yet to provide a similar detailed report. The firm’s most recent attestation numbers from late March showed $82 billion in reserve assets, though this figure has likely decreased as the token has since undergone billions of dollars in redemptions.

https://decrypt.co/105223/circle-usdc-fully-backed-cash-us-treasuries

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XRP & XLM: Two-Tier Monetary Framework

A two-tier monetary system as envisioned by financial experts, positions XRP at the forefront of institutional transactions. In this system, digital assets are used at different levels for specific purposes.

XRP is tailored for wholesale-level transactions, focusing on institutional use cases such as liquidity optimization, whereas Stellar (XLM) is geared toward retail-level remittances and peer-to-peer payments.

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⚠️Our birth certificates were originally created to enslave us.👇🤨⚠️

True Story, keyword here: "Pledges"

FACT: Taxes were originally donations for the WWII efforts and remain as such today! THEY don't want you to know this.. 😉

Truth From A Poisonous Tree: https://www.amazon.com/s?k=truth+from+a+poisonous+tree&crid=YQKTJAO3OY2F&sprefix=truth+from+a+poisonous+tree%2Caps%2C131&ref=nb_sb_noss_1

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💥 Meet the final five Sapphire winners of Sonic Boom! 💥
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👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
💥 XRP News Today: Ripple Whales Bet Big as Futures Market Hits $2.5Bn 💥

After the news of Gary Gensler stepping down in January, XRP is witnessing explosive activity, with Ripple whales adding over 250 million tokens to their holdings in just a short period. Amid this buying spree, XRP’s price has surged, and the futures market is breaking records—topping $2.50 billion in open interest. The market is booming with news of the IPO launch and XRP ETF’s arrival in Q1 of 2025, if regulations take a back seat for XRP. Investors are waiting for a mega rally.

Let’s break down the latest developments and what they mean for XRP’s future.

■ Whales Accumulate XRP Amid Bullish Sentiment

Ripple whales have been on a buying spree, accumulating millions of XRP over recent days. According to Santiment, over 250 million tokens were purchased during a market dip, fueling a strong 200% rally this month. Whale alert reported a series of transfers that saw 149 million XRP worth $227 million move from Bybit to a private wallet, while another whale scooped up 20 million XRP from South ...

Ripple's XRP quest for $1.96 strengthened by WisdomTree XRP ETF registration in the US 🚀

● Ripple's XRP surged over 7% after WisdomTree registered for XRP ETF in the US, per Eleanor Terret.

● The company recently launched a low-cost XRP ETP in Europe.

● XRP could rally toward its April 2021 resistance of $1.96 following open interest growth.

Ripple's XRP surged over 7% on Monday and aims to stage a rally toward its April 2021 high after WisdomTree registered for an XRP ETF in the US state of Delaware on Monday.

WisdomTree registers XRP ETF as issuers expect lenient regulation with Gensler gone
Global asset manager WisdomTree, with over $113 billion assets under management (AUM), registered for an XRP ETF in the US state of Delaware on Monday, according to Fox Business Eleanor Terret. With the registration confirmed, the company could file an S-1 with the Securities & Exchange Commission (SEC) soon.

The company recently launched its WisdomTree Physical XRP ETP (XRPW) in Europe, offering investors direct spot price exposure.

WisdomTree's filing now places it alongside Bitwise, 21Shares, ...

💥 OpenTheta now supports TFUEL purchases with Visa credit cards 💥

Theta Network co-founder: OpenTheta now supports TFUEL purchases with Visa credit cards

Mitch Liu, co-founder of the decentralized blockchain protocol Theta Network, announced on X that users can now purchase the project’s operational token, Theta Fuel (TFUEL), on OpenTheta using Visa credit cards. OpenTheta is the NFT launchpad and marketplace on the Theta Network.

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Here’s why the crypto Altseason could start tomorrow

While Bitcoin (BTC) flirts with the long-awaited $100,000, and Jim Cramer recommends a “buy,” crypto traders eye the Altseason. Historically, money has rotated from Bitcoin into altcoins after significant breakouts, which could occur again this cycle, starting on Sunday.

This is because Sunday, November 24, will close the third consecutive week above Bitcoin’s last weekly candle’s high. Essentially, an altseason started every time this pattern occurred in the previous two cycles, as TechDev shared on X.

An altseason happens when altcoins outperform Bitcoin, diminishing its market cap dominance. Some analysts are already excluding Ethereum (ETH) as part of “altcoin” analysis, given its market size and relevance.

In summary, trading experts and crypto investors expect mid-to-low-caps to outperform the leaders, better distributing the capital among all cryptocurrencies.

The altcoins season (altseason) is starting

On TechDev’s insight, the Bitcoin and crypto analyst pointed out a pattern that dates back to March 2017. According to him, the last two altseasons started after three consecutive weekly closes above the last Bitcoin weekly high.

This pattern is in play right now, with the third consecutive week to close tomorrow, Sunday night, starting on Monday. Therefore, this week could be a key period for what some experts are labeling “utility altcoins,” with high growth potential.

Notably, TechDev crossed over the Bitcoin Dominance Index (BTC.D) with Bitcoin’s weekly chart, illustrating the start of the altseason.

Bitcoin (BTC/USD) price and the Bitcoin Dominance Index (BTC.D)– Weekly chart. Source: TradingView / TechDev

In this context, some altcoins have already started surging, leading the way for other cryptocurrencies. Solana (SOL), Ripple (XRP), Cardano (ADA), Algorand (ALGO), Hedera (HBAR), Near Protocol (NEAR), and Sui Network (SUI) are some of them, outperforming other projects in the past few days as money starts rotating from Bitcoin and Ethereum to lower caps.

Bitcoin Dominance Index (BTC.D) today

As of today, Bitcoin dominance is retracing backward, testing the 50-day exponential moving average again, which is significant chart support. Currently, BTC has 59.30% of the entire cryptocurrency market capitalization, according to TradingView’s index.

Confirming a daily drop below the 59.50% moving support could validate the aforementioned historical analysis, marking the altseason start.

Interestingly, BTC.D has followed a previous analysis by CrypNuevoreported on Finbold, looking to a resistance retest. The analyst forecasted Bitcoin’s dominance would make a top between 61% and 62%, confirming it with a retest before crashing.

 

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Unleashing Hackathons and Developer Incentives on Sonic With DoraHacks

We’re excited to announce our partnership with DoraHacks, a global hackathon movement and Web3 developer incentive platform.

Together, we’ll launch exciting initiatives to empower developers to grow within the Sonic ecosystem. Take a look at some of these initiatives below.

Online Hackathons

DoraHacks is renowned for its online hackathons, which bring together a diverse global community of developers to solve real-world problems. Through this partnership, we’ll host hackathons designed to spark creativity, encourage collaboration, and address key challenges in blockchain.

Real-Life Hackathons

Building on DoraHacks’s expertise in organizing immersive, real-world events, we’ll be hosting in-person hackathons starting in Q1 and Q2 of 2025. These events will provide an interactive space for developers to work together, receive mentorship, and showcase their skills, while fostering meaningful connections within the community.

App Bounties

DoraHacks's bounty platform enables us to tap into a global community of developers to crowdsource innovative solutions. Through this platform, we’ll launch targeted app bounties, offering rewards to developers for creating apps that address the specific needs of the Sonic ecosystem or fulfill user-driven requests.

Targeted Bounties for Sonic University

As part of the Sonic University, we’ll focus on specific regions like Vietnam and the Philippines to engage local cohorts and students. These tailored bounty programs will create opportunities for emerging talent to contribute to the Web3 space while earning rewards and gaining real-world experience.


This partnership is a major step toward engaging with a global network of talented builders and advancing the possibilities of Web3 technology. We can’t wait to share more about these initiatives soon!

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The Next Wave of Sonic Gems

The Sonic Boom program has officially concluded, and we are grateful to all the projects that dedicated their time and effort to apply. With over 1,000 applications submitted, the program was an extreme success and demonstrated the creativity within our community.

Sonic Boom was designed to allocate a portion of the total Sonic Gems to 30 outstanding projects across strategic categories. The program targeted diverse and high-impact categories, aiming to spotlight and reward apps with the potential to drive significant user adoption from day one.

This initial boost in Sonic Gems helps these selected projects attract users, incentivize participation, and create a strong foundation for long-term growth within the Sonic platform, setting them up for success as they scale and expand their user base.

What Are Sonic Gems?

Sonic Gems are developer points in the ~200 million S airdrop that projects can distribute to users as rewards for using their apps. This approach helps projects bootstrap and sustain user activity by encouraging continued use and interaction.

For projects that didn’t make the final 30 or were placed in a lower tier than expected — don’t be discouraged! The majority of Gems are still available on the Sonic mainnet. After our mainnet launch, the remaining Gems will be allocated to apps based on three key factors:

  • Category (e.g. DeFi, RWA, gaming, etc.)
  • Engagement (e.g. native exclusivity)
  • Effective distribution of rewards to users

This distribution formula is designed to reward apps that contribute positively to the Sonic ecosystem, ensuring fair resource allocation and promoting sustainable growth across the network. Almost any app can qualify to receive Gems as long as it has a model to generate points for users and integrates with our points API powered by OpenBlock Labs.

This inclusive approach ensures that all developers — from emerging native protocols to established projects — have an equal opportunity to receive Gems to give to their users. By contributing to the ecosystem, apps can bootstrap user activity, sustain long-term growth, and unlock their full potential. The more users engage and accumulate points within an app, the greater its chance to receive Sonic Gems.

What’s Next?

A detailed breakdown of Sonic Gems will be added to our documentation as we approach the mainnet launch.

We encourage you to continue innovating and building within the Sonic ecosystem. There are many opportunities ahead to receive Gems, and we look forward to supporting your growth on the network. We can’t wait to see what you build next!

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