Merge pull request #1161 from CAFECA-IO/feature/news-0825

feat: 🎸 news 8/25 USDC

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src/news/usdc/news-usdc-20230825001.md

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+---
+date: 1692928505
+title: 'The Bright Horizon: USDC Supply Surge and Its Positive Implications'
+description: 'The digital currency market has been a wild ride in recent years, with prices fluctuating wildly,
+new innovations emerging all the time, and regulators keeping a close eye on the space. In this
+environment, USDC, a stablecoin backed by the US dollar, has emerged as a beacon of stability. USDC
+offers a blend of technological advancement, regulatory compliance, and economic promise.'
+---
+
+### **Introduction**
+
+The digital currency market has been a wild ride in recent years, with prices fluctuating wildly,
+new innovations emerging all the time, and regulators keeping a close eye on the space. In this
+environment, USDC, a stablecoin backed by the US dollar, has emerged as a beacon of stability. USDC
+offers a blend of technological advancement, regulatory compliance, and economic promise.
+
+### Global Regulatory Stance
+
+**Binance's Collaboration with Taiwan:** Binance, a global leader in the crypto exchange space, has
+entered into a cooperative agreement with **Taiwan's New Taipei District Prosecutor's Office**. This
+collaboration is a testament to Binance's commitment to ensuring **transparency and adherence to
+regulatory standards.** The move also signifies the growing importance of cross-border partnerships
+in enhancing the security and credibility of the crypto ecosystem. Such collaborations can bolster
+crypto optimism as it indicates a more regulated and transparent crypto environment.
+
+**Chinese Official's Life Sentence:** A high-profile case **in China saw an official being sentenced
+to life imprisonment due to unauthorized Bitcoin mining activities**. This landmark judgment
+underscores China's stringent stance on illicit cryptocurrency operations and its commitment to
+curbing unauthorized digital asset activities. A stricter regulatory environment might terrify the
+investors with bad intentions.
+
+**Facebook's Advertising Scams in Thailand:** **Thailand's digital ministry** plans to sue Facebook
+for not removing scam ads that affected more than 200,000 people. The ministry said it had asked
+Facebook repeatedly to take down the fake ads, but the problem continued. The scams included **fake
+investments, government bodies and cryptocurrencies**. The ministry said it would seek a court order
+to shut down Facebook in Thailand if the issue was not resolved.
+
+### News about Stablecoin and De-Fi Protocols
+
+**USDC:** USDC has recently announced several developments to expand its ecosystem and utility.
+
+- One of them is **launching USDC on 6 new blockchains, bringing the total number of supported
+  chains to 15**. This will enable more developers, businesses and applications to use USDC as the
+  on-chain dollar.
+- Another one is transitioning the governance and operations of USDC from Centre Consortium, a joint
+  venture between Circle and Coinbase, to Circle alone. This will streamline the process of issuing
+  and managing USDC, as well as complying with regulations on reserves and smart contracts.
+  **Coinbase will also take an equity stake in Circle** to support its growth and innovation.
+- A third one is partnering with **Airtm**, a digital dollar account platform that operates in
+  **Latin America, South Asia and Africa, to offer a USDC-powered payment service for global
+  businesses.** This will allow enterprises to send payments to their employees, contractors,
+  suppliers and customers in over 100 countries using USDC on Stellar network. The recipients can
+  then convert USDC to their local currencies through Airtm's network of over 400 payment methods.
+
+**Independent Reserve and PayPal Partnership:** Independent Reserve, an **Australian** crypto
+exchange, **has partnered with PayPal to offer its customers an alternative way to fund their
+accounts and withdraw funds amid increasing bank restrictions.** The exchange's CEO praised PayPal
+for seeing the opportunity in the crypto industry, while some major banks have imposed limits and
+blocks on crypto payments. The partnership is the first of its kind in the APAC region and aims to
+reduce the complexity and risk for crypto investors in Australia. By using PayPal, Independent
+Reserve can compete against the banks by providing faster, cheaper, and more convenient transactions
+for its users.
+
+**Friendtech's Privacy Issues**: The Friend.tech platform, which is a decentralized social media
+app. The data contained the wallet addresses and Twitter usernames of over 101,000 users who gave
+Friend.tech access to post as them. The Friend.tech team denied that the data was leaked, saying
+that it came from their public API and anyone could access it by reading a block explorer.
+**However, the issues comes from the the lack of a privacy policy.**
+
+**DEA's Erroneous Transaction:** the **Drug Enforcement Agency (DEA), a federal law enforcement
+agency that combats drug trafficking and distribution in the US**, lost $50,000 in seized
+cryptocurrency to a scammer who tricked them into **sending the funds to a fake address**. The
+scammer used a technique called **"airdropping" to create a similar-looking address** to the one
+used by the US Marshals Service, another federal law enforcement agency that handles asset
+forfeiture. The scammer then converted the money into ether, a type of cryptocurrency, and moved it
+to another wallet, a digital storage for crypto funds. The DEA and the Federal Bureau of
+Investigation (FBI) are investigating the incident.
+
+### Economic Outlook and Trends
+
+**China's Economic Hurdles:** China, historically the engine of global growth, is currently
+grappling with significant economic challenges. The slowdown in its economy has become a focal point
+of concern among international leaders and investors. **The Hang Seng Index in Hong Kong slid into a
+bear market, having fallen more than 20% from its peak in January.** **The Chinese yuan recently
+dropped to its lowest level in 16 years**. Key indicators such as **consumer prices are falling, and
+the real estate crisis is deepening**. Alarmingly, **youth unemployment has escalated to such an
+extent that the government has ceased publishing the data.** Several major investment banks have
+revised their forecasts of China's economic growth to below **5%**, indicating a potential miss from
+its official target of around **5.5%**.
+
+**Implications for the U.S. Market:** The challenges in China's economy have potential repercussions
+for U.S. stocks and portfolios. Chinese consumer spending, factory production, and investment in
+long-term assets all showed a decline in July compared to the previous year, as per China’s National
+Bureau of Statistics. The rising tensions between the U.S. and China, especially in areas like trade
+and technology, further complicate the global economic picture. Companies like Apple, Intel, Ford,
+and Tesla, which have substantial ties to China, might be impacted. For instance, **Las Vegas Sands,
+a casino company, derives 68% of its sales from China and has seen its stock price fall nearly 10%
+in the last 30 days. Qualcomm, with a 67% exposure rate to China, saw its stock decline by nearly
+11% over the same period.**
+
+**Central Banks' Dilemma:** The global inflation crisis had synchronized the actions of central
+banks, with most raising rates in tandem. However, the changing economic landscape is leading to
+divergent policies. **At the annual economic policy symposium in Jackson Hole**, Wyoming, European
+Central Bank President Christine Lagarde highlighted the potential shifts in economic relationships.
+She mentioned that we "may be entering an age of shifts in economic relationships and breaks in
+established regularities." The Chinese government's recent decisions are noteworthy: they opted not
+to cut a key interest rate influencing mortgages and reduced its one-year rate for the second time
+in three months. Given that China represents around **one-fifth of global gross domestic product**,
+these decisions have significant implications.
+
+Incorporating these specific figures provides a more detailed and convincing overview of the current
+economic landscape. **The USDC, as a stablecoin, remains a potential safeguard against such
+uncertainties, offering a stable medium of exchange in these turbulent times.**
+
+### **Summary**
+
+These shifts are influenced by evolving global regulations, developments in the stablecoin and De-Fi
+sectors, and overarching economic trends. As the lines between traditional finance and
+cryptocurrency continue to blur, it's crucial to stay abreast of these developments to navigate the
+future effectively. Most of news piece point towards a growing optimism for USDC in the global
+financial landscape.
+
+### References
+
+- https://abmedia.io/binance-cooperates-with-taiwans-new-taipei-district-prosecutors-office
+- https://abmedia.io/chinese-official-sentenced-life-prison-bitcoin-mining
+- https://www.reuters.com/technology/facebook-faces-possible-thai-legal-action-over-alleged-advertising-scams-2023-08-21/
+- https://cointelegraph.com/news/crypto-exchange-independent-reserve-partner-paypal-banking-block
+- https://www.coindesk.com/business/2023/08/17/coinbase-will-suspend-usdt-dai-and-rai-trading-for-canadian-users/
+- https://www.coinbase.com/blog/ushering-in-the-next-chapter-for-usdc
+- https://airtm.com/en/blog/usdc-enterprise-payment-solution/
+- https://www.theblock.co/post/246529/friendtech-leaked-database-ethereum-addresses
+- https://www.forbes.com/sites/thomasbrewster/2023/08/24/dea-accidentally-sends-50000-in-drug-proceeds-to-crypto-scammer/?sh=d73d4483d12e
+- https://edition.cnn.com/2023/08/21/economy/china-economy-troubles-intl-hnk/index.html
+- https://edition.cnn.com/2023/08/25/economy/fed-jackson-hole-global-central-bank-communication/index.html
+- https://edition.cnn.com/2023/08/17/investing/premarket-stocks-trading/index.html