In the latest interview with Fox Business, Circle CEO Jeremy Allaire unveiled his thoughts on the turbulent crypto market with stablecoins being targeted by short sellers partly due to the Luna-UST fiasco. He reiterated his confidence in USDC attracting net inflows amid the market crash due to its compliance with regulators.
Jeremy Allaire did not directly comment on the incident that supposedly aimed to render the asset de-pegged from the US dollar.he had witnessed “a flight to qualities” in the crypto space amid market selloffs, as investors – adopting a risk-off attitude – transferred their money from high-risk assets to stable and high-quality ones like USDC.“We’ve seen net inflows increased significantly from $48 billion USDC in circulation to now about $56 billion USDC in circulation.
its lost peg, despite his eye-catching efforts to defend it by injecting funds to prop up the price of its sister token, TRX.Privately issued stablecoins such as USDT and USDC are often perceived by regulators and government officials as a source of
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