Stablecoin supply climbed to a record $320 billion this week, extending the continued surge in dollar-linked digital assets. This comes as one of the biggest questions hanging over the sector remains unresolved in Washington: whether the income generated by the reserves backing those tokens should stay with issuers or be shared with users. Nonetheless, the […]
The post Clarity Act deadlock fails to stop Stablecoins smashing past $320B and yield-bearing tokens surge past market appeared first on CryptoSlate.
As the global financial system moves toward greater efficiency, interoperability, and real-time settlement, the infrastructure behind domestic payments is undergoing a profound transformation. Governments and institutions are setting ambitious 2030 targets to modernize payment systems. In this evolving landscape, Ripple Payments is increasingly being positioned as a technology capable of supporting the next generation of domestic financial rails. Where Ripple Payments Is Already Being Implemented Ripple payments are positioned to support the domestic payment standards set by the G20 for 2030. A technical analyst known as ChartNerd on X has noted that the G20 overview for those standards requires cost, speed, efficiency, and access. Meanwhile, these are the same areas where Ripple technology and XRP are designed to thrive and deliver. Related Reading: Ripple Pushes XRP Global With Multi-Continent Expansion Drive By 2027, the G20 aims for 75% of cross-border transactions to be completed within one hour, while reducing the global average transaction cost to not more than one cent. At the same time, 90% 0f individuals worldwide are expected to have access to cross-border remittance payments, and at least with one service provider. Transparency is also a major requirement. All payment providers must clearly disclose the total transaction costs, enable payment tracking, and specify the exact time to deliver funds. In 2025, both RippleNet and Stellar were recognized by the Faster Payments System (FPS) as innovative payment solutions. Pioneering Korea’s First Tokenized Government Bond Settlement Ripple and Kyobo Life Insurance are stepping in to pioneer Korea’s first tokenized government bond settlement. According to Chad Steingraber’s post, Kyobo Life and Ripple will actively assess the technical and regulatory feasibility of tokenized treasury settlement in Korea’s financial ecosystem. Related Reading: Ripple Makes A $13 Trillion Bet With This Move, And XRP Price Could Be Set To Explode At the core of this initiative is Ripple Custody, which will provide a secure, compliant foundation for holding, transferring, and settling tokenized assets. Instead of relying on fragmented and manual bond settlement processes, the partner introduces transparent on-chain execution. Over time, this infrastructure can integrate with broader capabilities across payments, liquidity, and treasury management. Steingraber emphasized that this initiative provides a clear blueprint for how regulated financial institutions can adopt digital asset infrastructure. Starting with custody, the model expands into tokenization and on-chain settlement. This partnership demonstrates how blockchain technology can fundamentally modernize government bond settlement in Korea. By settling transactions simultaneously, settlement cycles can move from the typical two-day settlement timeline to real-time execution, thereby limiting counterparty risk and improving capital efficiency. Additionally, Ripple will support Kyobo in exploring stablecoin-based payment rails, enabling 24/7 transaction capability within a compliant, regulated framework. Steingraber views this move as an alignment with Kyobo Life’s broader strategy to accelerate digital transformation and enhance operational efficiency through next-generation financial infrastructure. Featured image from Peakpx, chart from Tradingview.com
The Bitcoin Policy Institute (BPI) has released a new policy proposal for the United States aimed at establishing what it calls “stablecoin supremacy.” The proposal, published on Wednesday, is structured around five policy areas and comes on the heels of the already-enacted GENIUS Act. Bitcoin Policy Institute Warning At the center of BPI’s argument is the claim that regulated stablecoins can help extend US oversight over offshore dollar markets. In the institute’s view, doing so would not only reduce systemic risks but also blunt what it frames as China’s push into digital currency. The BPI describes how offshore banks can create dollar-denominated credit on their own, capture the profits from intermediation, and rely on the Federal Reserve (Fed) as a kind of implicit backstop when the system strains. BPI characterizes this setup as a serious vulnerability for the US economy. Because of that, the institute argues that regulated stablecoins offer the United States a tool for restructuring the underlying dynamic. Related Reading: Bitcoin Price Breaks Higher: What The Market Data Says Could Happen Next Under the GENIUS Act, signed into law in July 2025, BPI says stablecoin issuers must maintain 100% reserves in instruments such as Treasury bills, Treasury repo, or insured deposits. The law also prohibits issuers from lending against those reserves. BPI says the result is that when a foreign individual or corporation holds a GENIUS-compliant stablecoin instead of placing funds in a Eurodollar deposit, the relevant Treasury security sits on the balance sheet of a US-regulated entity rather than feeding the offshore system’s ability to multiply credit. In BPI’s framing, the dollar value can move around the world, but the reserve stays “home,” reducing what it calls the external vulnerability dimension of the Triffin Dilemma. Stablecoin Supremacy Blueprint BPI further links the stablecoin case to broader competitive pressures in digital assets. It notes that China’s digital yuan now pays interest to holders and that China’s Cross-Border Interbank Payment System processes transactions across 190 countries. The institute also points to Europe’s MiCA regime, arguing it provides a framework for euro-denominated stablecoins that is, in some respects, more advanced than current US implementation. Taken together, BPI says these developments weaken American influence over the “rails” where money actually moves—an area BPI calls both the most contested and most fragile part of dollar dominance. To respond, the institute proposes a framework to advance stablecoin supremacy across five policy areas. First, it calls for hardening GENIUS Act implementation by building a backstop architecture. BPI describes this as creating committed repo lines with primary dealers and establishing a path to Federal Reserve Standing Repo Facility access, with the goal of making compliant stablecoins more attractive than offshore alternatives. Second, BPI proposes that the United States export stablecoins rather than Eurodollar deposits in international trade settlement. The aim, according to the institute, would be to pull Treasury demand back onshore and eliminate what it describes as the offshore credit multiplier on marginal dollar flows. Related Reading: What Presidio Bitcoin Found About Quantum Computing: Threat Timeline And Next Steps Third, BPI argues for a fee and rewards approach that allows regulated stablecoins to compete with interest-bearing Eurodollar deposits and even China’s digital yuan—while still staying within the GENIUS Act’s statutory interest prohibition. Fourth, the proposal addresses decentralized finance (DeFi) risks. BPI warns about DeFi credit multiplication and calls for smart-contract-level restrictions and enforcement “chokepoints” to ensure unregulated protocols cannot replicate the Eurodollar multiplier on blockchain networks. Finally, BPI says the US should preserve foreign currency sovereignty by supporting local monetary systems alongside stablecoin adoption. The institute frames this as a way to ensure stablecoin integration acts as shared economic development rather than financial coercion. In the institute’s view, these goals can be achieved without issuing additional sovereign debt to foreign governments or expanding the Federal Reserve’s balance sheet. Featured image from OpenArt, chart from TradingView.com
On-chain data shows the Ethereum versions of USDT and USDC, the two largest stablecoins, have seen their active addresses fall to the lowest level of 2026. USDC & USDT Active Addresses Have Fallen On The Ethereum Network In a new post on X, on-chain analytics firm Santiment has talked about the latest trend in the Daily Active Addresses for the Ethereum versions of USDT and USDC. This indicator measures the daily total number of addresses participating in some kind of transaction activity on the network. Related Reading: Bitcoin Whales Ramp Up Accumulation: Holdings Hit 2-Month High When the value of this metric goes up, it means more addresses are coming online on the blockchain every day. Such a trend implies user interest in the cryptocurrency is rising. On the other hand, the indicator observing a decline suggests holders of the asset are reducing their transaction activity as fewer of them are making moves on the network. Now, here is the chart shared by Santiment that shows the trend in this metric for USDT and USDC on the Ethereum blockchain over the last few months: As displayed in the above graph, both the top two stablecoins have seen a drawdown in the Daily Active Addresses, suggesting activity related to them has declined. More specifically, the metric has dropped to 202,300 for USDT and 109,300 for USDC. Both these values are the lowest that they have been since December. Stablecoins occupy a different spot in the sector than volatile assets like Bitcoin and Ethereum; investors use them when they want to stash their capital away from the volatility associated with the other cryptocurrencies. Because of this reason, stablecoins are often considered to represent the “dry powder” sitting on the sidelines in the digital asset sector. Whenever these tokens are on the move, it means investors are either stashing away capital or injecting it into the volatile side. Given that the Daily Active Addresses has plunged for the Ethereum blockchain version of USDT and USDC recently, it would appear that there isn’t much demand for stablecoin-related swaps right now. Interestingly, this trend has come alongside a recovery surge in Ethereum and other assets. As such, it’s possible that the volatility could soon ignite fresh activity in the space. As Santiment explained: With Bitcoin making good momentum today and pushing toward $75K, expect for traders’ buying power to pick up a bit as they look to take more chances. More volatility means more ‘dry powder’ being moved. Related Reading: Huge XRP Bull Market Ahead? Analyst Flags ‘Ultimate’ Buy Zone In related news, USDT has seen its market cap reverse course recently, as CryptoQuant community analyst Maartunn has highlighted in an X post. The trend in the 60-day market cap change for USDT | Source: @JA_Maartun on X From the chart, it’s apparent that the 60-day change in the USDT market cap was negative earlier, but it’s just now starting to make its way back into the positive territory. ETH Price At the time of writing, Ethereum is floating around $2,300, up 10% in the last seven days. Featured image from Dall-E, chart from TradingView.com
The Federal Deposit Insurance Corporation (FDIC) has moved to translate the country’s first crypto bill for stablecoins, the GENIUS Act, into concrete regulatory guidance for banks and their fintech subsidiaries that wish to use or issue stablecoins. In a notice of proposed rulemaking approved by the FDIC Board, the agency lays out “a prudential framework” for FDIC‑supervised permitted payment stablecoin issuers (PPSIs) and for insured depository institutions (IDIs) that provide custodial or safekeeping services tied to payment stablecoins. FDIC Issues GENIUS Act Rules The proposal addresses several core areas required under the GENIUS Act, including the composition and treatment of reserve assets, redemption mechanics, capital considerations, and enterprise‑level risk management expectations. It also clarifies how deposit insurance will apply to funds held as reserves backing payment stablecoins: the FDIC would make clear whether pass‑through insurance applies in those circumstances. Related Reading: Ethereum Ascending Channel Puts Price At $5,700, Analyst Reveals When To Sell In addition, the rule states that tokenized deposits that meet the statutory definition of “deposit” will be treated under the Federal Deposit Insurance Act the same as any other deposits, removing uncertainty about whether digital‑native forms of deposits would face different treatment. The FDIC’s rulemaking is narrowly focused on entities subject to its supervision: subsidiaries of insured State nonmember banks and state savings associations, collectively described as FDIC‑supervised IDIs, that receive approval to issue stablecoins through a subsidiary. Last December, the agency published a prior notice of proposed rulemaking under section 5 of the GENIUS Act to establish application procedures for such IDIs seeking approval to issue payment stablecoins. AML Certification For Stablecoin Issuers On capital, the FDIC is not yet prescribing a specific minimum capital amount, ratio, or an objective framework for minimum capital requirements. Instead, the agency is soliciting feedback on whether to create such a framework in future regulations. The proposed rule would also require a permitted payment stablecoin issuer to certify that it has implemented anti‑money‑laundering (AML) and sanctions compliance programs reasonably designed to prevent the issuer from facilitating money laundering or the financing of terrorism. Related Reading: Forget XRP Price Weakness, Investors Are Still Pouring In, And Wallet Figures Just Hit An Impressive Target The 197-page proposal further addresses technical and supervisory questions that have been a source of concern among stablecoin issuers, while leaving open some of the more complex calibration issues, like minimum capital quantification, for further consideration through the public comment process. By proposing this package of rules, the Federal Deposit Insurance Corporation is advancing the statutory mandate under the GENIUS Act to build a federal regulatory framework for payment stablecoins. The act requires the FDIC, alongside the other primary federal payment stablecoin regulators and the Department of the Treasury, to promulgate regulations establishing prudential standards for supervised entities that issue or materially support payment stablecoins. Featured image from OpenArt, chart from TradingView.com
Circle’s USDC added roughly $2 billion in supply during the first quarter of 2026, pulling ahead of rival Tether at a moment when the broader crypto market was contracting. It marked the sharpest divergence between the two largest stablecoin issuers since the bear market of mid-2022. Related Reading: Bitcoin Stumbles Hard: The Worst Q1 In Years Raises Big Questions USDC Gains As Tether Loses Ground While USDC grew, Tether’s USDT shed approximately $3 billion over the same period. Reports indicate USDC has been gaining traction in trading and on-chain transactions, with transfer activity hitting a record high in February. The shift aligns with growing institutional preference for a US-regulated issuer as Congress moves closer to passing stablecoin legislation. Total stablecoin supply reached $315 billion by the end of March, up about $8 billion from the prior quarter, according to CEX.io data. Growth was slower than at any point since late 2023, but it was still growth — at a time when most other corners of the crypto market were shrinking. Stablecoins also captured 75% of all crypto trading volume in Q1, the highest share ever recorded. Data shows investors rotated into dollar-pegged assets as a defensive move, choosing to stay inside the crypto ecosystem rather than exit it entirely. Total stablecoin transaction volume for the quarter topped $28 trillion, extending a run that has seen stablecoins process more value annually than Visa and Mastercard combined. Yield-Bearing Products Fuel New Supply A significant portion of fresh issuance came not from USDC or USDT, but from yield-bearing stablecoins — products that pay returns similar to interest-bearing accounts. That segment is now valued at around $3.7 billion, with daily trading volumes exceeding $100 million, based on CoinGecko data. The growth has drawn pushback from traditional banks, which have been lobbying Congress against stablecoins that offer returns, arguing they function more like financial instruments than payment tools. The debate is unresolved, and its outcome could determine how much room yield-bearing products have to grow inside the US market. Related Reading: XRP Could Soon Enter Arizona’s Treasury — Here’s What’s Happening Retail Activity Drops As Automated Trading Rises Not all of the quarter’s numbers pointed upward. Retail-sized transfers — those associated with individual users — fell 16%, the steepest single-quarter decline on record. Automated trading and algorithmic activity filled much of that gap, accounting for approximately 75% of all stablecoin transaction volume during the period. CEX.io’s report frames the overall picture as one of structural growth under pressure — a market where institutional and automated flows are increasingly driving the numbers, even as everyday participation fades. Featured image from Meta, chart from TradingView
The StakeStone (STO) price has surged by over 500% in the past week, drawing attention to the token’s ecosystem. The altcoin’s rally comes ahead of a significant token unlock, which could put selling pressure on the token and drive its price down. Why The StakeStone (STO) Price Is Surging The StakeStone (STO) price has surged by over 500% in the last week amid bullish fundamentals in its ecosystem, as noted by market analyst Neel. One of these developments includes StakeStone’s launch of version 2.0 of its protocol earlier this year. The staking protocol version enables gasless transactions, social login, and AI-powered yield optimization across 20 blockchains. Related Reading: Greatest Wealth Transfer Is about To Happen For Altcoins, Analyst Warns Neel further mentioned that the StakeStone (STO) price has surged because of the protocol’s partnership with Trump’s World Liberty to provide cross-chain liquidity infrastructure for the USD1 stablecoin. This represents a huge positive for the token’s ecosystem as USD1 has a circulating supply of $4.3 billion. StakeStone will act as a liquidity rail that moves the stablecoin across different networks. Neel pointed out that another reason why the StakeStone (STO) price is surging is that the liquid staking and yield narrative is gaining momentum again this year. As such, smart money is rotating into this sector and investing in altcoins like STO. On-chain analytics platform Lookonchain drew attention to a fresh wallet that withdrew 25.5 million STO, 11.32% of the circulating supply, from Binance earlier this week. Activity in the futures market is also driving the StakeStone (STO) price surge. CoinGlass data show that top traders on Binance are currently bullish on StakeStone, with the traders’ long/short ratio above 1. The altcoin’s derivative volume has surged by over 500% to $3.44 billion, while open interest has climbed by almost 300% to $332 million. Price At Risk Of A Decline With Upcoming Unlock The StakeStone (STO) price is at risk of significant selling pressure due to an upcoming token unlock. Cryptorank data shows that 20.17 million STO tokens, 2.02% of the total supply, will be unlocked tomorrow. At current prices, these tokens are worth $18.22 million and represent 8.95% of the altcoin’s market cap. Meanwhile, it is worth noting that almost 70% of the token’s supply is yet to be unlocked. Related Reading: Signal That Led To Last 2 Altcoin Seasons Has Returned, And Here’s How Bitcoin Fits In Most of the tokens that will be unlocked tomorrow will go to investors, while the Foundation and Team also have some allocation from tomorrow’s unlock. Crypto analyst Anti-Moon opined that the team and investors were likely pushing the StakeStone (STO) price up since they will want to sell the altcoin at higher prices. At the time of writing, the StakeStone price is trading at around $0.8465, up over 285% in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
As of late March 2026, Ripple’s dollar-pegged stablecoin had 1.41 billion tokens in circulation, backed by roughly $1.57 billion in reserves — a surplus that points to a stablecoin holding more cash than it owes. Related Reading: Bitcoin ETFs Pull In $56B As CEO Pitches Crypto Over Gold Deloitte Steps In To Verify The Numbers The bigger validation came weeks earlier. On February 27, Deloitte — one of the world’s largest accounting firms — confirmed that RLUSD held $1.568 billion in reserves against 1.49 billion tokens. The Big 4 firm also checked an earlier snapshot from February 19, when the supply stood at 1.54 billion tokens, backed by $1.60 billion in reserves. Both figures showed the same pattern: more money in reserve than tokens outstanding. The attestation was not a full audit. It was a point-in-time check confirming that reported figures matched reserve assets on those two specific dates. Still, having Deloitte sign off carries weight, especially for a stablecoin still building its track record. What The Regulators Require RLUSD operates under a license from the New York State Department of Financial Services, which sets strict rules on how reserve assets can be held. Issuers must keep funds in segregated accounts and limit their holdings to low-risk instruments. Eligible options include short-term US Treasuries, overnight reverse repurchase agreements, insured bank deposits, and approved money-market funds. According to Deloitte’s report, RLUSD’s reserve structure meets all of those requirements. The NYDFS framework is considered one of the tougher regulatory regimes for stablecoins in the US. Passing that standard — and having it verified by an outside firm — gives institutional users a clearer picture of what backs the tokens they hold. Ripple Follows A Trend Already In Motion Ripple is not alone in going this route. Earlier this year, Tether selected KPMG to examine the reserves behind USDT, its own dollar-pegged token, as part of a push into the US market. Data shows that stablecoin issuers across the board are moving toward third-party verification, driven partly by growing regulatory pressure and in part by competition for trust among large financial institutions. Related Reading: Bitcoin Mining Nationalized? US Senators Float Bold New Reserve-Backed Bill RLUSD remains far smaller than USDT or USDC by market size. But consistent reserve surpluses and a clean regulatory record are exactly the kind of credentials that tend to attract banks and payment firms looking for a stablecoin they can rely on. The numbers check out — now Ripple needs the market to take notice. Featured image from Meta, chart from TradingView
Hong Kong’s first stablecoin issuer licenses have been delayed, even as regulators continue reviewing applications from major financial institutions. The Hong Kong Monetary Authority (HKMA) had targeted March 2026 for approvals, but authorities are now extending the timeline to ensure stricter compliance, risk checks, and transparency requirements. Hong Kong Stablecoin License Delay Raises Compliance Focus …
Crypto analyst Sweep has revealed that 20 Bitcoin indicators have flashed bullish at the same time, providing a bullish outlook for the leading crypto. Based on this development, the analyst has predicted that BTC could rally to $150,000, marking a new all-time high (ATH). 20 Bitcoin Indicators Hint At Rally To $150,000 In an X post, Sweep stated that 20 independent indicators are bullish at the same time. He noted that this has only happened three times in Bitcoin’s history, and each time was followed by a 300% rally. The first of this indicator is the Global M2 money supply, which just hit an all-time high (ATH) while BTC is still lagging. Related Reading: None Of The 30 Bitcoin Market Peak Indicators Have Been Hit, So Why Did The Price Crash? Sweep further revealed that the Dollar Index is at 100, the exact level that preceded 500% rallies twice before. Another bullish indicator is that BTC’s exchange reserves have fallen to a 7-year low, with only 2.1 million BTC remaining across all crypto exchanges. The drop in these exchange reserves has come as whales bought 270,000 BTC over 30 days, the largest accumulation wave since 2013. Another bullish indicator is that the Fear and Greed index has been stuck at extreme fear for 46 straight days, currently at 12. Bitcoin’s weekly RSI has printed 27.48, the third time in history that it has been this low. Furthermore, funding rates have been negative for weeks, with traders paying fees to short BTC. Meanwhile, Sweep also mentioned that the stablecoin supply has hit an all-time high of $320 billion, with supply sitting on the sidelines. Miners have been in capitulation for 4 months straight, the longest stretch this cycle. At the same time, the hash rate is recovering from a 22% decline. The Macro Angle For BTC Sweep mentioned bullish macro indicators, such as the Fed ending quantitative tightening, draining the reverse repo from $2.5 trillion to nearly zero, and resuming purchases of Treasury bills. Furthermore, Consumer confidence is in the second-lowest zone ever recorded in 70 years of data, while the ISM manufacturing is back in expansion for the first time in 40 months. Related Reading: The Last Time Bitcoin Sentiment Was This Bad Was 2022, But There Was A Silver Lining Another bullish indicator is that the Bitcoin ETF flows have turned positive in March, with $2.5 billion in inflows. SoSoValue data shows that the BTC ETFs are on course to end a streak of four consecutive months of outflows. Sweep mentioned that BTC has just printed 5 consecutive red monthly candles, which has happened only once and led to a 308% rally afterwards. Lastly, 92% of short-term holders are underwater. The analyst noted that the last time this many signals aligned was in November 2022, when Bitcoin was trading at $16,000. Since then, BTC has pumped to a new ATH of $126,000. At the time of writing, the Bitcoin price is trading at around $67,500, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
Ethereum investor Stanley Druckenmiller has added his voice to the growing conversation around the future of digital finance, predicting that stablecoins could become the dominant force in global payment systems within the next few years. The veteran investor’s outlook reflects a broader shift among institutions and market participants toward viewing blockchain-based money as a critical financial infrastructure. Why Stablecoins Could Replace Traditional Payment Rails Stanley Druckenmiller, a prominent investor with exposure to Ethereum, is increasingly aligning his investment positioning with his outlook on the future of payments; one dominated by stablecoins and blockchain infrastructure. According to the Etherealize post on X, the veteran investor has publicly stated that stablecoins could power the entire payment system within the next 10 to 15 years. He further pointed to the clear advantages of blockchain-based money, such as greater efficiency, faster settlement, and significantly lower costs. Related Reading: Ethereum Remains The Top Network For Tokenized Assets As Adoption Grows This view is reflected in his exposure of the ETH ecosystem, in which Druckenmiller is listed among key backers of BitMine (BMNR), an Ethereum-focused treasury firm chaired by Tom Lee, which reportedly holds over $10 billion in ETH. Other notable supporters include ARK Invest and Bill Miller. Druckenmiller’s aligns with his recent bullish comments on stablecoins and blockchain payments. He frames blockchain and the use of stablecoins as highly practical tools for investors to invest their crypto and tokens, as they can significantly improve financial productivity. Ethereum As A Neutral Settlement Layer For Institutions The recent Cari announcement has reignited a critical debate around the future of institutional blockchain infrastructure, with much of the discussion focusing on architecture. Analyst Alex argued that the real issue lies in the business model of proprietary systems versus open standards. Related Reading: Ethereum Futures Volume Outruns Spot 6-to-1 As Macro Stress Weighs On Crypto The Government of propriety networks like Canton or Tempo will be controlled by a small group with disproportionate voting weight. They will be permissionless, but participants have to submit a Google form with opaque admission criteria to join. It’s unclear who decides this, but over time, the most influential participants will set the terms of access and pricing. From a bank’s perspective, this structure is familiar because it mirrors the early dynamics of legacy systems like SWIFT and Visa, locking in structural advantages while late joiners absorb the cost. As Alex noted, everyone wants to build the next SWIFT-killer, but nobody wants to join someone else’s SWIFT-Killer; a typical comment from banks. This is where Ethereum stands out as the only neutral settlement layer where that dynamic can’t take hold, because no single entity can capture it. The ETH network is the only place where every participant can permanently trust that no future coalition will rewrite the rules against them. From a game-theoretical standpoint, Alex concluded that ETH represents the only sustainable equilibrium as a global settlement layer for institutional finance that works long-term. Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin is up 7.3% on the week, trading at $73,238. Ethereum has climbed 12.34% in seven days. The Fear and Greed Index, which was deep in Extreme Fear territory just weeks ago, has recovered to 39. Something is shifting, and the stablecoin market may have seen it coming. The Dry Powder Thesis Since the start …
A top White House official is pushing back against warnings that stablecoins will drain money from American banks — arguing the opposite is true. Related Reading: Crypto Thieves Pivot To Phishing As Protocol Hacks Decline In February Foreign Money, Domestic Gains Patrick Witt, executive director of the White House Council of Advisors for Digital Assets, posted on X this week that when foreigners convert local currencies into dollar-backed stablecoins issued by US companies, that capital flows into the American banking system, not away from it. Most US stablecoin issuers hold US dollars or Treasury securities as reserves, meaning the money lands in domestic institutions either way. “Global demand for USD is massive,” Witt wrote, calling it net new capital entering American banks. His comments came amid a heated congressional debate over the CLARITY Act and the GENIUS Act, both designed to give the crypto industry clearer regulatory ground to stand on. Lost in the rewards/yield debate is how GENIUS-compliant stablecoins will actually lead to deposit inflows. Global demand for USD is massive. Foreigners exchange local currency for stablecoins from a US-based issuer. That is net new capital entering the American banking system. — Patrick Witt (@patrickjwitt) March 12, 2026 The Fear Behind The Legislation Not everyone shares that view. Standard Chartered, in a recent research note, estimated that rising stablecoin adoption could shrink US bank deposits by roughly one-third of the total stablecoin market cap. For community banks that fund local mortgages and small business loans with those deposits, the figure is hard to ignore. Christopher Williston, president of the Independent Bankers Association of Texas, made that case bluntly last Friday. Giving ground in the CLARITY Act negotiations, he warned, would put local lending and community economic output at risk. The crypto industry hit back fast. Austin Campbell, founder of Zero Knowledge Consulting, argued that if small banks and the crypto sector fail to find common ground, the real winners will be large financial institutions — the ones with enough resources to outlast a regulatory standoff. Witt echoed that sentiment, writing on X that watching the two sides fight felt like watching “an arsonist threaten to burn down their own home.” Related Reading: Bitcoin Crosses 20 Million Coins Mined — And Only 1 In 20 Remains Dollar Weakness Adds Urgency The debate is playing out against a shaky backdrop for the US dollar. The US dollar index fell to 95.818 on January 28 — its lowest point in four years — before recovering to 99.468, a rebound of about 3.80%, according to TradingView data. It was up 0.46% over the five days before publication. Witt’s argument hinges on international demand holding strong. If foreign appetite for dollar-backed stablecoins keeps growing, he says, the inflows into US banks could outpace any domestic deposit shifts. Whether Congress finds that case convincing enough to act on it remains to be seen. Featured image from World, chart from TradingView
Funding will support product expansion, licensing and compliance as the company scales a platform for cross-border stablecoin payments.
Billions of dollars in fresh USDC were printed in just the first week of March — a minting pace that, if sustained, could push Circle’s total for the month past $12 billion. Related Reading: Bitcoin’s Brief Rally Isn’t The End Of The Bear Market, Analysts Say That surge is one sign of the momentum behind a broader milestone: total stablecoin transfer volume hit $1.8 trillion in February, the highest monthly figure on record. USDC Pulls Far Ahead Of Tether USDC, issued by Circle Internet Group, accounted for roughly 70% of all stablecoin transfers last month — about $1.26 trillion. Tether’s USDT logged $514 billion over the same period. That gap surprised some analysts, given that Tether holds the larger market cap by a wide margin — $184 billion compared to USDC’s $77.4 billion. According to Simon Dedic, founder of Moonrock Capital, USDC has “consistently flipped” Tether on transfer volume over the past several months. The disparity means each dollar of USDC is moving far more often than each dollar of USDT. Data from blockchain analytics firm Allium confirmed the February figures. Circle’s business has been growing fast. The company posted strong earnings for the fourth quarter of 2025, driven by rapid expansion of USDC’s payment operations. Partnerships with platforms such as Polymarket have added to that momentum. Tether’s supply, by comparison, has held relatively flat through the start of March while USDC continues to be printed at speed. What Rising Stablecoin Supply Means For Markets More stablecoins on exchanges generally means more money ready to buy crypto. On March 5 alone, roughly $5.14 billion in stablecoins flowed into exchanges — up from $1.14 billion just four days earlier on March 1. The total stablecoin supply sitting on exchanges climbed to a three-week high of $66.5 billion by Friday. Historically, big jumps in exchange stablecoin supply have preceded crypto price rallies, as sidelined capital gets redeployed into the market. Bitcoin briefly pushed toward $74,000 this week, partly lifted by that stablecoin inflow. The Stablecoin Supply Ratio — which measures Bitcoin’s market cap against total stablecoin market cap — has been recovering after a sharp drop in February. CIRCLE JUST MINTED $250M $USDC Circle just minted another $250M USDC on Solana. They’ve minted over $3 BILLION in just this first week of March. If Circle continue at this pace, they’re on track to mint over $12 Billion USDC by the end of the month. pic.twitter.com/aoQKi6zbFE — Arkham (@arkham) March 7, 2026 A Closer Look At The Numbers The February record was not just about USDC. Overall stablecoin adoption has been climbing. Florida’s state senate passed a stablecoin bill this week, which now awaits the governor’s signature. Related Reading: SEC Vs. Justin Sun Case Ends In $10M Settlement, Traders Eye TRX Price Reaction Regulatory movement at the state level, combined with growing institutional use of dollar-backed tokens for payments and settlement, has kept demand rising. USDC’s $1.26 trillion in February transfers marks the highest monthly total since the stablecoin launched in September 2018. Reports indicate Circle has already minted more than $3 billion in USDC in March’s first week, with Arkham data showing one single mint of $250 million on Solana. Featured image from Bitkub Academy, chart from TradingView
Tether has landed a Big Four accounting firm’s name on a reserve report tied to its US strategy. On Feb. 27, Deloitte issued an independent accountant’s report on Anchorage Digital Bank’s “USAT Reserve Report,” an attestation covering USAT, a US dollar token issued by Anchorage Digital Bank, National Association, in collaboration with Tether. The development […]
The post Tether finally lands a Big Four auditor – but the $189B USDT question still isn’t answered appeared first on CryptoSlate.
Social media giant Meta is quietly plotting a return to stablecoins. This time, however, the primary beneficiary may not be Mark Zuckerberg’s metaverse, but the US Treasury market. On Feb. 24, Coindesk reported that Meta was exploring stablecoin-based payments for a possible rollout in the second half of 2026, likely through a third-party provider rather […]
The post Meta’s digital dollar comeback could unlock a $1 trillion Treasury shift Washington is not ready for appeared first on CryptoSlate.
Stablecoin payments firm RedotPay is reportedly considering a U.S. stock market listing that could raise up to $1 billion. The company previously secured $107 million in a Series B round led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital and Circle Ventures. RedotPay says it serves over 6 million users across 100+ markets.
According to new research from Standard Chartered, the companies behind stablecoins are on track to become some of the biggest buyers of U.S. Treasury bills. Standard Chartered suggests that the U.S. government might start selling more short-term debt to keep up with this new demand. To make room for all those extra T-bills, the Treasury …
Tether, the company behind the world’s most widely used stablecoin USDT, has announced that it will no longer support CNH₮, its offshore Chinese yuan stablecoin.The company has already stopped the minting of new CNH₮ tokens and will completely stop redemption support within the next year. No New CNH₮ Tokens, Redemption Deadline Set On 20th Feb, …
Markets have put more gold on blockchains, And the shift has been rapid. Reports say the tokenized commodities sector grew about 53% in under six weeks, pushing its size to just over $6 billion. That jump has been led by a small group of gold tokens, and the move has traders and some big banks watching closely. Related Reading: Cardano May Be At A Prime Buying Point, Analyst Says Gold Tokens Drive The Rally According to on-chain data, most of the fresh value is sitting in Tether’s XAU₮ and Paxos’s PAXG. Together they hold close to $6 billion of the sector’s market worth. Investors are treating these tokens as a quick way to own a claim on bullion without needing to move bars or deal with vault paperwork. Some buyers want a safe haven that moves easily across borders. Others want to trade fractions of an ounce in online markets. Tether Moves Toward Physical Integration Reports say Tether has not stopped at issuing a token. The firm took a $150 million stake in Gold.com with plans to fold XAU₮ into that platform and to let customers pay for actual gold with stablecoins. This is a step toward tying token balances more directly to physical holdings and sales channels. If it works, retail buyers could use familiar crypto tools to buy and collect real metal, which would change how ordinary people access bullion. Analysts See Big Upside Based on reports, Geoffrey Kendrick of Standard Chartered has sketched a huge growth path: from roughly $35 billion in tokenized real-world assets today to as much as $2 trillion by 2028. Alvin Foo, a crypto analyst, has argued that tokenized commodities — gold on public chains in particular — could scale to trillion-dollar values someday, as markets adopt fractional ownership and new trading rails. Those projections require many pieces to fall into place: clear rules, reliable custody proofs, and wide demand from non-crypto investors. Ambitious goals are being set, but they rest on a chain of technical and legal fixes that are still in progress. How The System Works And Why It Matters Stablecoin liquidity and decentralized finance plumbing are being pointed to as the plumbing that can support larger markets. Reports note that having quick settlement, low minimums, and easy custody opens bullion to smaller investors and traders who were locked out before. Related Reading: After Predicting XRP’s Drop, Analyst Says The Bottom May Be In Fractional ownership is already possible, which means someone can own a slice of a bar without ever visiting a vault. Yet trust must be earned. Custodial audits, insured storage, and transparent minting and redemption rules will shape whether token holders feel secure. Featured image from Private Banker International, chart from TradingView
Robinhood’s Johann Kerbrat took the stage along with Bullish CEO Tom Farley to speak of his platform's views on stablecoin yields and traditional financial systems.
Ethereum’s outlook for 2026 has become increasingly contested after the most recent downturn in the entire crypto market. Earlier this year, research from Standard Chartered suggested that Ethereum could end 2026 near $7,500, a target that implies significant upside from current levels. However, recent price action, with ETH languishing around $2,000 and lacking clear bullish momentum, puts such projections against a very different realistic outlook. Standard Chartered’s Ethereum Long-Term View In a January research note, Standard Chartered’s digital assets team trimmed its medium-term outlook for Ethereum while keeping a highly optimistic vision for the years ahead. The bank now sees ether closing 2026 near $7,500, down from an earlier forecast of around $12,000, and expects the asset to climb to $15,000 in 2027, $22,000 in 2028, and eventually $40,000 by the end of 2030. Related Reading: Ethereum Price Is Not Going To Keep Falling Forever, Analyst Says According to the note, the change is due to weak performance from Bitcoin dragging broader dollar-denominated crypto valuations, even as the bank pointed to Ethereum’s strengths in stablecoins, decentralized finance, and tokenized assets as positives to hold on to. In the research note, digital assets analyst Geoff Kendrick noted that 2026 is important not just for price but also for Ethereum’s performance relative to bitcoin. Therefore, the most important thing for gains is a rebound in the ETH/BTC ratio to levels last seen in 2021. The Odds – Current Price Action Against Bullish Case The path from roughly $2,000 to the mid-$7,000s looks very tough compared to what it was at the start of the year. This, in turn, has seen the odds of the Ethereum price reaching $7,500 reduce drastically. Ethereum started 2026 on a good foot, with a rally to $3,370 in the first two weeks of the year. Notably, it failed to sustain this rally and has since fallen by about 40% in the past 30 days. Related Reading: Analyst Says You’re Not Bullish Enough On Ethereum – What Does He Mean? As it stands, Ethereum is now trading around $2,000, and the price has repeatedly failed to close convincingly above the $2,100-$2,150 zone in recent sessions. Although the leading altcoin is now back to trading above $2,000 after a break below during last week’s sell-offs, bulls are yet to establish any control of price momentum. On-chain data also shows the transfer activity surrounding Ethereum is pointing to elevated stress conditions. Fortunately for bullish traders, it is still too early in the year to rule out the possibility of Ethereum trading at $7,500 in 2026. Several things would need to change for an outcome close to Standard Chartered’s 2026 estimate to become plausible. One of them is the return of demand and steady inflows into Spot Ethereum ETFs. At the time of writing, Ethereum is trading at $2,025. Right now, the cryptocurrency needs to clear the $2,150 resistance and hold above it in order to continue the steady push up. Featured image from Pxfuel, chart from Tradingview.com
The crypto market has come under intense selling pressure, with more than $350 billion wiped off total market capitalization. Similar downturns in the past have usually been accompanied by falling participation and capital exiting the space. This time, however, the setup looks different. Instead of drying up, capital has surged, with stablecoin inflows doubling even …
The crypto market has entered a fragile phase as Bitcoin dropped under the critical $70,000 level and bounced off $60,000, a zone that has increasingly acted as a gravitational pull rather than a launchpad. This subdued price action came as the stablecoin market has surged, with Tether and Circle minting billions of dollars’ worth of […]
The post Did Tether and Circle’s $3 billion token minting spree protect Bitcoin from losing $60k? appeared first on CryptoSlate.
Tether closed out the year with numbers that turned a few heads in finance circles. Reports say the firm posted net profits above $10 billion for 2025 while the stablecoin USDT grew to roughly $186 billion in circulation — a new high for the token and a sign of how central it has become to crypto markets. Related Reading: Bitcoin Suppression? Analyst Claims Single Force Keeping Price Under $90K Strong Balance Sheet And Big Reserves Reports note that Tether’s balance sheet shows solid backing after dividends and payouts. The issuer reportedly ended the year with several billion in excess reserves and total assets that comfortably outmatched liabilities. That cushion has calmed investors who worry about backing for so much stablecoin. Tether’s cash and short-term holdings are heavy on US Treasury exposure. Based on reports, a large slice of its reserves sits in Treasuries and similar instruments that generate steady interest income. That income helped drive the large profit number, even as the company moved into other assets. The numbers came from Tether’s most recent annual attestation, prepared by independent accountants at BDO, highlighting the company’s status as one of the top earners in the digital asset sector. Gold Buys And A Shift In Mix Reports say Tether has been increasing its holdings of physical gold alongside Treasuries. Recent filings and public comments show roughly 27 tons of gold purchased in the final quarter of the year, and the firm has said it may aim for between 10% and 15% of its portfolio in gold over time. That move is meant to diversify reserves and trim exposure to any single market. Stock And Market Effects The profit and the increase in the USDT supply have spillover effects. Market makers and exchanges usually use Tether as the primary dollar substitute in the crypto market, and the increased USDT supply improves trading and payment liquidity. On the other hand, some rating agencies and analyst firms have pointed out some concerns. There are potential issues with transparency and risk if markets turn against them due to increased allocations to non-Treasury assets. What This Means For Users And Regulators For users, the first thing to note is that the increased supply of USDT in the market typically means improved on-ramps for trading and moving value between platforms. For regulators and big lenders, the numbers underline why stablecoins attract scrutiny. Reports note that watchdogs want clearer, repeatable disclosures to match the scale of these holdings. Related Reading: Ethereum Boost: Vitalik Buterin Sets Aside $45M In ETH For Privacy And Open Tech Tether’s recent performance frames a larger story about how crypto handles dollar-like liquidity in practice. The company says its reserves and reporting meet its own standards, while independent commentators push for still greater clarity. Either way, USDT’s role has grown, and the conversation about risk, disclosure, and where those backing assets sit is only getting louder. Featured image from Unsplash, chart from TradingView
Ripple’s new stablecoin rollout has put a bright spotlight on a simple fact: most RLUSD is living on Ethereum right now. That imbalance has stirred worry among long-time XRP supporters. Some feel the company’s heart might be shifting away from the ledger that gave it a base. Others say the move is practical and short-term. Related Reading: Bitcoin’s Slide To $82K Sets Off A $1.7 Billion Chain Reaction Exchange Rollouts And Technical Gaps According to Luke Judges, Ripple’s Global Partner Success Lead, the choice of which chain goes live first often comes down to plumbing — the systems exchanges already run. He told followers that Ripple talks about XRPL every time it speaks with an exchange, and that many trading platforms have promised to add XRPL support. Still, existing tools on Ethereum can make listings happen faster. That speed matters when liquidity and market access are the goals. What The On-Chain Numbers Show Reports note RLUSD’s circulating supply sits at roughly $1.45 billion across both chains. About $1.11 billion of that amount is on Ethereum, leaving around $337 million on XRPL. That split — roughly 77% on Ethereum — is a big part of why people worry. Numbers are blunt. They shape how investors react, and they shape headlines. When a major exchange launches support only on one chain, the signaled path is hard to ignore. Community Reaction And Company Tone Binance’s decision to enable RLUSD trading first on Ethereum raised the heat. Many XRP fans saw that as proof of a preference. Judges answered that some launches are a function of readiness, not preference. To ensure complete clarity: the RLUSD team consistently prioritizes the XRPL in every centralised exchange engagement. While some exchanges may complete their Ethereum technical integration first, simply because they have existing infrastructure for that network, making it a… — LJ (@luke_judges) January 29, 2026 He used plain language and made a short, clear point: Ripple “loves” XRP and the ledger it runs on. That line was meant to calm nerves. It did, for some. Others remain skeptical because commitments on paper do not always match activity on the ground. What Comes Next For XRPL What will settle this argument is data. If trading activity, transfers, and custody flows begin to move onto XRPL in meaningful ways, perception will shift. If XRPL volumes stay small, the worry will grow. Exchanges can keep their promises. They can also delay. Some technical work will be needed on both sides to make the experience as smooth for XRPL users as it is for those on Ethereum. Related Reading: Gold, Silver Steal The Spotlight As Crypto Hype Fades On Social Media: Santiment Ripple’s message, at least for now, is meant to be simple and firm. Judges pushed back on the idea that his comments were an apology, saying there was nothing to walk back. He framed the statement as a response to noise, not a change in direction. “We love XRP and XRPL” was not offered as a slogan, but as a reminder of where Ripple says its roots still sit. Whether that sentiment carries weight will depend less on words and more on how quickly XRPL sees real growth tied to RLUSD in the months ahead. Featured image from Unsplash, chart from TradingView
The Trump-linked USD1 stablecoin has surged past a $5 billion market capitalization, quickly cementing its place as the fifth-largest stablecoin globally. In doing so, USD1 has overtaken PayPal’s PYUSD and climbed into the top 25 cryptocurrencies by overall market value, according to CoinMarketCap data. The rapid rise has caught the market’s attention, especially given that …
The USDU stablecoin is issued by Universal Digital, a crypto firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
Founders Fund and Galaxy-backed Citrea is aiming to unlock Bitcoin-denominated credit markets with a new mainnet and a Treasury-backed stablecoin designed for USD settlement.