November 2018 Summaries

Poloniex announced that it has credited Ethereum (ETH) holders on its exchange with OmiseGO (OMG) tokens as part of a token airdrop initiative by the OmiseGO team. This airdrop, intended to distribute 5% of the total supply of OMG, was based on a snapshot of ETH account balances taken on the Ethereum blockchain at block height 3988888, mined on July 7th, 2017. Eligible ETH holders, those with a balance greater than 0.1 ETH at that time, received OMG tokens proportional to their ETH holdings, calculated at 0.075 OMG per ETH. However, ETH lenders were not included in this distribution, and any initial communication suggesting otherwise was corrected. Customers can check their OMG allocations by visiting their account balances on Poloniex's platform. Circle, the parent company of Poloniex, aims to transform global money movement by enhancing accessibility and efficiency, thereby promoting economic opportunity and prosperity worldwide.

Circle Internet Financial announced the endorsement of USD Coin (USDC) by five new companies, expanding its support ecosystem to over 60 exchanges, wallets, and platforms globally. The new supporters include Opensea, which now accepts USDC for digital collectibles, and Atomic Wallet, which facilitates safe storage and transfer of USDC. Airswap has introduced USDC trading, while Abacus Protocol and BlockMyTalent are exploring its use for security token dividend payments and freelancer payments, respectively. This development follows the release of an independent attestation report by Grant Thornton LLP on US dollar reserves backing USDC. The CENTRE Consortium, co-founded by Circle and Coinbase, aims to set a standard for fiat on the internet, promoting the global adoption of stablecoins, with USDC's circulating supply exceeding 168 million due to growing demand for a transparent and compliant USD token.

Circle Internet Financial provides an analysis on the Bitcoin Cash (BCH) hard fork that took place on November 15, 2018, highlighting the competition between two proposals, Bitcoin ABC and Bitcoin SV, which could lead to the creation of different blockchains and tokens. Poloniex allowed pre-fork trading of both Bitcoin ABC and Bitcoin SV to gauge community support. Circle Research's report offers a detailed examination of these proposals, including risk analysis, insights from trading data, and positions of major exchanges and mining pools, illustrating the potential market impact of the hard fork. Circle emphasizes its mission to enhance global economic opportunity by making financial transactions more accessible and efficient.

Circle Internet Financial has announced that the global ecosystem for USD Coin (USDC) is expanding, with exchanges in countries like the U.S., Korea, Japan, and the Czech Republic now offering USDC for trading. Notable exchanges such as Korea-based Korbit and Japan-based Liquid have recently listed USDC, alongside others like U.S.-based Thor Swap and Czech Republic-based Changelly. The demand for USDC is increasing, with a circulating supply now exceeding 134 million, driven by market participants' interest in a transparent and compliant USD token. USDC allows for dollar tokenization and redemption through both Circle and Coinbase, marking it as the first open, fungible, and interoperable fiat stablecoin in the industry. The CENTRE Consortium, co-founded by Circle and Coinbase, was established to create a standard for fiat currency on the internet and facilitate the mainstream adoption of stablecoins globally. Circle aims to revolutionize money movement by making it more accessible, inclusive, and efficient, thereby enhancing economic opportunities worldwide.

Circle Internet Financial announced a promotional campaign for new Circle Invest users, offering a free crypto asset for signing up with their app, available on iOS and Android. This initiative, running until the end of the year, aims to make cryptocurrency investment more accessible by addressing its complexity and cost challenges and encouraging broader participation. Circle Invest is known for its user-friendly interface and educational content, earning a 4.7-star rating in the App Store. The reward program is part of Circle's mission to democratize financial systems and promote the role of consumers in advancing crypto assets and transforming the global economy. New users need to download the app, make an investment, and tweet about it to receive their free crypto asset, which will be distributed ten days after November and December. Circle invites feedback through Twitter or their support team to enhance user experience and content offerings, emphasizing their commitment to increasing economic opportunity worldwide.

Circle Internet Financial has announced the addition of Basic Attention Token (BAT) as the 12th crypto asset available on Circle Invest, offering users the ability to purchase it individually or as part of a broader portfolio with the "Buy the Market" feature. BAT was chosen for its potential to bring significant innovation to the crypto ecosystem, particularly through its integration with the Brave browser, which enhances user privacy by blocking third-party ads and trackers while allowing users to pay publishers in BAT for content engagement. The browser is also designed to enable direct payments from advertisers to users in BAT for ad views, with plans to extend compatibility to other web browsers. Circle Invest continues to expand its offerings and is dedicated to transforming financial accessibility and efficiency worldwide.

Circle Internet Financial has announced the removal of redemption fees for USD Coin (USDC), a move supported by 12 new companies joining its ecosystem. This development follows the recent formation of the CENTRE Consortium by Circle and Coinbase, which aims to standardize fiat currency usage on the internet and promote stablecoin adoption globally. USDC, the first open and interoperable fiat stablecoin, allows customers to convert dollars into USDC and vice versa via Circle and Coinbase, now without redemption fees. Since its introduction, USDC has gained support from approximately 50 companies, with ongoing adoption by exchanges, platforms, and wallet providers such as BitMart and Nexo. The circulating supply of USDC has surpassed 125 million as market participants seek a transparent and compliant USD token, signaling growing trading volume and increased interest in the stablecoin.