It’s customary for cryptocurrencies to pump after securing a Binance listing. Every week a handful of tokens enjoy the “Binance bounce”, gaining as much as 50% in a matter of hours. Trueusd (TUSD) was meant to be different though. It’s a stablecoin whose job is to stay as close to the US dollar as possible. And yet, when Binance announced that it was adding TUSD, the unthinkable happened.Stablecoins are a burgeoning industry, with scores of projects seeking to create tether alternatives that provide stability, each pegged against the US dollar. Circle has just announced plans to launch its own stablecoin, and news.Bitcoin.com recently profiled several other new contenders, including Trueusd, which was described as:
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- Circle Raises $110Mn With Plans to Launch USD‐Backed Coin news.bitcoin.com on
Circle has announced it has raised $110Mn USD in a Series E fundraising round led by the Chinese firm Bitmain Technologies. Circle now joins Coinbase as one of the most well‐funded cryptocurrency companies in the U.S.