Market Wrap: Bitcoin in Pullback Mode as Regulatory Concerns Rise
Bitcoin is declining as regulatory concerns rise; ether is holding support.
The USDC developer revealed last month that only 61% of tokens were backed by "cash and cash equivalents."
President and COO Emilie Choi in a Twitter post on Monday clarified earlier language on the crypto exchange's website.
Bitcoin slipped below $50K and will likely consolidate this week, analysts say.
The plans would take Circle well beyond the OCC banking charter already conditionally issued to several firms.
Being able to use a simple username akin to a Twitter or Instagram handle may make sending crypto payments more like sending an email or a text.