The Centre Consortium, co-operatively overseen by Circle and Coinbase, is currently in the process of being closed down. Consequently, Circle will be taking over the internal management of issuance and governance for the USDC stablecoin.
A judge granted permission for the SEC to proceed with the appeal.
Prior to its official launch on Wednesday as a novel layer-2 network built on Ethereum, Base had already accumulated an impressive sum of nearly $166 million on the blockchain.
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