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USDC Circulation Falls $800M as Redemptions Beat Mints

USDC circulation redemptions outpaced new mints in Circle’s October 29 transparency window. Circle issued about $10.92 billion of USDC over seven days and redeemed about $11.71 billion. Net, that cuts circulation by roughly $790 million, leaving about $69.97 billion of USDC in circulation. Total reserves sit near $71.41 billion. That...

Ghost Student Crypto Seizure Nets DOJ $750K in Kenya

Student-aid refunds left U.S. bank accounts as cash. Investigators say a Kenyan crypto wallet held the next trail. The ghost student crypto seizure is the headline from Thursday’s Justice Department release. Prosecutors charged five defendants in Operation Ghostbusters. The probe targets “ghost student” federal student-aid fraud linked to a Kenyan...