FlashPANews
USDC Circulating Supply Decreased by Approximately 800 Million Units Over the Past 7 Days
According to official data, in the 7-day period ending October 29, Circle issued approximately 10.9 billion USDC and redeemed approximately 11.7 billion USDC, resulting in a circulating supply reduction of roughly 800 million units. The total circulating supply of USDC stands at 70 billion units, with total reserves amounting to approximately 71.4 billion USD. The reserves consist of around 32.9 billion USD in overnight reverse repurchase agreements backed by government securities, 27.5 billion USD in Treasury securities with maturities of less than 3 months, 10.4 billion USD in deposits at systemically important financial institutions, and approximately 600 million USD in other bank deposits.
- #Stablecoin
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Flap: Official Website Access Has Now Been Fully Restored
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Analyst: Bitcoin is testing the cost basis of short-term holders, and BTC is more resilient now compared to the FTX collapse period
CryptoQuant analyst Axel Adler Jr. points out that Bitcoin's current price is testing the cost basis of Short-Term Holders (STH). Axel Adler Jr. believes that the market's reaction to the Binance hack incident has been relatively restrained so far. Compared with the market reaction during the FTX collapse, Bitcoin demonstrates significantly greater resilience at present.
NYSE Parent Company ICE Deletes Tweet Announcing Partnership with trade.xyz
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has removed the tweet announcing its partnership with trade.xyz, a collaboration intended to bring Hyperliquid perpetual contract products to the U.S. market. The corresponding partnership tweet published by trade.xyz remains online at this time. Earlier disclosures stated that ICE had entered a partnership with Trade.xyz to launch Hyperliquid perpetual contract offerings in the United States.
CZ Clarifies He Did Not Threaten Elon Musk With "Money", Emphasizes SPCX Shareholding Only Serves to Demonstrate Sufficient Capital Reserves
Binance founder CZ posted on Twitter to clarify against prior misinterpretations that framed his remarks directed at Elon Musk as a "money-based threat". CZ stated that such interpretations are overreaching: he mentioned holding SPCX shares solely because some participants in the relevant discussion drew comparisons to FTX, which implicitly suggested Binance had insufficient capital, a claim that does not align with facts. He only intended to illustrate that Binance holds assets beyond cryptocurrencies, within a sector that Elon Musk is familiar with. CZ emphasized: "I never threaten anyone. This is one of the core principles I have documented in my book." He also noted that Binance's SPCX stake is merely a "drop in the bucket" for the firm, and cannot constitute a threat by any measure. He further stated that SPCX is positioned to be one of the high-quality stocks in Binance's long-term portfolio.