Day: April 16, 2023

With Close to 10 Billion Stablecoins Redeemed, BUSD’s Supply Drops to Lowest Level Since April 2021 – Altcoins Bitcoin News

Jamie Redman

Statistics recorded on April 15, 2023, show that the number of coins in circulation for the stablecoin BUSD dropped below the 7 billion range to 6.68 billion, marking the lowest number of BUSD in circulation since April 2021. Furthermore, data indicates that the supply of BUSD has shrunk by 19.8% over the past 30 days. BUSD Stablecoin Supply Hits Lowest Point in Two Years BUSD, which was once among the largest stablecoins, remains the third-largest USD-pegged token. However, on February 13, 2023, Paxos announced that the New York State Department…

Circle exec to join US Congressional committee hearing on stablecoin payments, legislation

Arijit Sarkar

The United States House Committee on Financial Services will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether the ecosystem needs supporting legislation. The committee issued a memorandum to announce an upcoming hearing titled: “Understanding Stablecoins’ Role in Payments and the Need for Legislation.” The hearing will include information collected by various federal government agencies over the last year. List of individuals testifying at the upcoming House Financial Services Committee hearing. Source: house.gov Participants testifying at the hearing include Circle’s chief strategy officer and…