Circle May Lost $2B of Capitalization

Expert says his could be the result of a number of acquisitions and a bear market
05 February 2019   946

The operator of the cryptocurrency exchange Poloniex, the investment application Circle Invest and the developer of the stablecoin USDC Boston startup Circle could lose more than $ 2 billion of capitalization in the last nine months, The Block reports.

At the moment, private stocks of the company on the SharesPost platform are trading at $ 3.80. It is not yet known how many shares are offered at this price and whether successful transactions have been made.

In May 2018, Circle's share price was $ 16.23 with a capitalization of $ 3.01 billion. If the current SharesPost quotes reflect the real situation, then the company's value fluctuates around $ 705 million.

Sources of publication in one of the hedge funds stressed that this could be the result of a number of acquisitions in combination with a bear market.

Other market players noted that Circle Trade's OTC-service provides most of the company's revenues, in which the trading volume in 2018 reached $ 24 billion. The focus on prop-trading, they say, complicates the company's objective assessment at this stage.

Binance DEX to List 5 TrustToken Stablecoins

Binance DEX listed TrueUSD, TrueGBP, TrueAUD, TrueCAD and TrueHKD, tied to appropriate fiat currencies
08 August 2019   304

Non-custodian exchange Binance DEX in the near future conducted a listing of five new stablecoin issuer TrustToken, The Block reports.

As TrustToken said, Binance DEX added TrueUSD, TrueGBP, TrueAUD, TrueCAD and TrueHKD, exchange rates related to the US dollar, Australian dollar, Canadian dollar and Hong Kong dollar, respectively.

All five assets will be released on the blockchain. Until this moment, TrustToken stablecoins were available only in the format of ERC20 tokens on the Ethereum blockchain.

Binance DEX has new opportunities for making financial contributions. TrueUSD trading on Binance DEX should start on August 8th. Listing suggestions for other TrustToken stablecoins will be issued in the coming weeks.

TrustToken plans to launch its new or two additional blockchains before the end of the year and the new TrueSGD, the rate of which will be tied to the Singapore dollar, “soon”.