Bitget says an unauthorized transfer drained about $351.6 million from its hot wallets, with on-chain watchers saying some stolen USDC was quickly swapped into ETH — reigniting the messy debate over Circle’s freeze powers and how much they really help once funds start moving.
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The Fed has proposed a tough new stablecoin framework under the GENIUS Act, putting banks and issuers on notice with capital, reserve, redemption, custody, and scale rules. It’s a clear signal: digital dollars may get a path into mainstream finance, but not on sloppy terms.
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Binance is putting $100 million into Circle and backing USDC promotion for five years, but the deal lands amid fresh scrutiny over sanctions, privacy, and EU licensing. A smart distribution play — and a reminder that credibility in crypto is never bought once and for all.
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Hyperliquid has rolled out manual borrowing that lets users lock up HYPE or Bitcoin as collateral and borrow USDC or USDT instead of selling. It adds capital efficiency, but the usual crypto warning applies: if collateral drops, liquidation is right there waiting.
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Bastion is being linked to a conditional OCC trust charter for USDC custody, but the underlying source can’t be verified, so the claim remains unconfirmed. If true, it would be a meaningful regulatory step — but not a final green light.
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Aave V4 has launched on Circle’s Arc network with USDC, EURC, cirBTC, and WETH, betting its new hub-and-spoke design can make stablecoin-heavy lending more efficient. The real test, though, is whether liquidity and users actually show up.
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Binance will drop four USDC spot pairs on Sept. 18, and Spot Trading Bots tied to them will shut off automatically at 03:00 UTC. The tokens stay listed via other pairs, but traders need to check orders before the cleanup hits.
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Stablecoins are quietly strengthening dollar demand and buying up huge amounts of short-term Treasuries — but that same plumbing could become a stress point in a redemption rush. Useful in calm markets, dangerous when confidence cracks.
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Velocity has raised $48 million in Series A funding, including a $10 million extension backed by Visa, Circle and Ripple, as stablecoin infrastructure moves closer to mainstream payments, settlement and treasury plumbing. The pitch is simple: make digital money movement useful for businesses, not just crypto bros.
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Nu is rolling out U.S. banking through Lead Bank while launching Nu Global, a stablecoin-based account that converts deposits into USDC or EURC for cross-border use. It’s an ambitious bet on blending banking, crypto, and payments — with plenty of fine print still to watch.
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