Sage D. Young

Sage D. Young is a tech protocol reporter at CoinDesk. He cares for the Solarpunk Movement and is a recent graduate from Claremont McKenna College, who dual-majored in Economics and Philosophy with a Sequence in Data Science. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, PEOPLE, DOGE, OS, and HTR.

Recent

Finance

Silicon valley bank

Burning USDC and Minting DAI Prove to Be Popular On-Chain Activities Amid SVB Collapse

Circle’s USDC stablecoin had nearly $3 billion in net redemptions since Friday, while the total supply of DAI increased by 1.2 billion tokens over the same time period.

By Sage D. Young

Mar 13, 2023 at 7:12 p.m. UTC

Mar 13, 2023

Silicon valley bankMakerDAOCircleUSDCDAIOn-chain Data

Markets

Circle

USDC Stablecoin Depegs From $1; Circle Says Operations Are Normal

USDC/USDT dropped as low as 94 cents on Kraken, its lowest level since April 2021.

By Sage D. Young

Mar 11, 2023 at 12:01 a.m. UTC

Mar 11, 2023

CircleKrakenTetherUSD CoinUSDT

Finance

Silicon valley bank

Crypto Wallets Withdraw $902M USDC From Centralized Exchanges in Past 24 Hours Amid SVB, Silvergate Shutdowns

$11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System.

By Sage D. Young

Mar 10, 2023 at 7:50 p.m. UTC

Mar 10, 2023

Silicon valley bankSilvergate BankCircleUSDCOn-chain Data

Finance

Voyager digital

Voyager Continues Liquidating Crypto Assets for Circle’s USDC Stablecoin

Amid its ongoing bankruptcy case, Voyager has liquidated more than $80 million since March 8, according to on-chain data sourced from Arkham Intelligence.

By Sage D. Young

Mar 9, 2023 at 9:39 p.m. UTC

Mar 9, 2023

Voyager DigitalOn-chain DataVGXCMIBinance US

Markets

Token governance

Gaming Protocol Aavegotchi Members Are Voting to End Multiyear Token Sale, Which Could Limit GHST Supply

If passed, roughly $33 million DAI will be allocated to support the development of the Aavegotchi ecosystem.

By Sage D. Young

Mar 9, 2023 at 7:14 p.m. UTC

Mar 9, 2023

Token GovernanceAaveNFT gamingVote

Technology

Tornado cash

Tornado Cash Fork, Privacy Pools, Deployed on Optimism Testnet

Privacy Pools uses zero-knowledge proofs to prove that funds in anonymous transactions are not linked to criminal activity, such as North Korea’s $625 million hack on Axie Infinity.

By Sage D. Young

Mar 6, 2023 at 10:27 p.m. UTC

Mar 6, 2023

Tornado CashPrivacyopen-sourceOFACZero-Knowledge Proofs

Perspectives of Numbers in CPU chip (Getty Images)

Markets

Token governance

Gitcoin, a Crowdfunding Platform for Open-Source Software Votes to Seed Staked ETH Index

The index could provide a stream of income for Gitcoin to raise funds for grants – if users are attracted to the new index that exposes token holders to a diversified set of liquid staking tokens.

By Sage D. Young

Mar 3, 2023 at 7:51 p.m. UTC

Mar 3, 2023

Token GovernanceGitcoinStakingEthereumRegenerative Finance (ReFi)