USDC's weekly trading volume reached $23 billion, up from $9 billion in 2023 and $5 billion in 2022. Its market share is currently close to 14% of FDUSD, a record high.
On June 25th, bitcoin suddenly faced a potential liquidity shock of nearly 9 billion dollars, and the price plummeted by $5,000 in the past 24 hours to as low as $58,300. The matter involves the early cryptocurrency exchange Mt. Gox. The platform was hacked in 2011, more than 600,000 bitcoins were stolen, and it went bankrupt in 2014. The team responsible for managing the remaining funds of Mt. Gox announced on the 24th that it will start repaying the cryptocurrency in July to creditors who lost...