Starwood REIT Limits Withdrawals Amid Cash Crunch
Starwood Capital has restricted redemptions in its $10 billion property fund due to financial struggles, impacting investors' ability to withdraw their money.
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USDC Stablecoin Burnt and Bitcoin, Ether Rally Amid Banking Industry Turmoil.
Over $2.2 billion worth of USD coin (USDC) was burnt in a single day as redemptions crossed $4 billion on Tuesday night. The burns refer to effectively taking tokens out of circulating supply by sending them to an address that’s not controlled by any entity. The USDC burns followed a likely reduction in reserve backing or redemptions. The dollar-pegged stablecoin has failed to win back investors following last week’s depegging.