In July the company said there was 250,000 XAUT tokens in circulation backed by the equivalent of more than 7.66 tons of gold.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The stablecoin market has crossed a landmark $300 billion capitalization, reflecting its growing role as the connective tissue between traditional finance and the crypto ecosystem. This milestone reflects heightened investor demand and the diversification of stablecoin models, which range from fiat-backed giants to yield-bearing challengers. Tether’s USDT continues to dominate with a market share of […]
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The total market capitalization of stablecoins has surpassed $300 billion for the first time — a new all-time high for the sector.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Jesse Pollak, Coinbase's head of Base, said that local currency-pegged stablecoins can provide meaningful local utility.
Digital asset treasury firm SUIG, the Sui Foundation and Ethena teamed up to create two proprietary stablecoins for the network.
The narrative surrounding Ethereum’s future has fundamentally shifted, and is rapidly solidifying its role as the global, compliant settlement layer for traditional finance (TradFi). This strategic transformation is inextricably linked to the dominance of Stablecoins and the explosive growth of Tokenized Real-World Assets (RWAs). Network Effects Of Stablecoins And RWA On Ethereum In a recent post on X, the Token Terminal highlighted a key insight focusing on why Stablecoins and RWAs matter for the Ethereum market cap. To date, Stablecoins and RWAs are crucial for ETH, as the market capitalization of tokenized assets on ETH acts as the floor for ETH’s market cap. Related Reading: Ethereum’s Next Milestone: November Fork Targets Scalability And Efficiency – Details The reasoning is that as more assets are tokenized on the ETH blockchain, including the massive market of stablecoins and the growing sector of RWAs, the total value locked and secured by the network increases, and the more Ethereum’s market cap benefits. A Host and Producer of The Edge_Pod, known as DeFi_Dad, has reflected on how rewarding it feels to finally see stablecoins cementing credibility for Ethereum and the decentralized finance (DeFi). For years, explaining crypto in real life carried negative associations, which were often tied to price speculation or hype. Meanwhile, the narrative has shifted, and stablecoins have provided a clear, relatable entry point, with investors focused on investing in digital money applications using Stablecoins. However, the expert pointed out that the stablecoins are now so mainstream in the media that even government officials and traditional media are taking them seriously. Unlike Bitcoin, which many people only associate with volatile price action, stablecoins provide practical utility and a way to earn 5–10% yields on-chain. According to DeFi_Dad, most of it is built on ETH and stablecoins, which are like Fundstrat and the ChatGPT moment for crypto, a breakthrough product that clicks instantly for the masses. From there, stablecoins would become the stepping stone into DeFi yield and broader digital asset exposure. A Stronger Foundation For Future Development Amid the Ethereum advancements, the new Go-Pulse v3.3.0 has officially been released, a major rebase that is going to make the ETH network even faster and more robust. Richard Heart mentioned that the update from the old Go-Ethereum (GETH) v1.13.13 has gone all the way up to the new v1.16.3, which would deliver substantial performance and efficiency improvements. Related Reading: Ethereum On-Chain Bloodbath: Rugs And Scams Erode Retail Confidence, What To Know Heart credited ETH’s role in the process, noting that the Ethereum mainnet serves as the ultimate testing ground. By proving stability on the ETH, PulseChain is the first to integrate and is the most reliable and optimized software enhancements into its own ecosystem. Featured image from Getty Images, chart from Tradingview.com
Competition among stablecoins looks like its about to heat up with several new US dollar-pegged tokens coming down the pike.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
According to Arkham, a wallet labeled “Tether: Bitcoin Reserves” received 8,889 Bitcoin in a single transfer from Bitfinex. Related Reading: Bitcoin Buyers Step Back After Failed Push Beyond $115,000: Data The move added roughly $1 billion to Tether’s holdings and pushed the firm’s Bitcoin stash to about $9.8 billion based on the market price. It was one of the biggest single top-ups to its BTC balance this year. Quarter-End Buying Pattern Based on reports, the timing of the buy was not random. Blockchain records show Tether has made similar quarter-end additions in September 2024, December 2024, and March 2025. Analysts say the pattern points to a deliberate effort to bolster reserves ahead of public attestations. Tether’s second-quarter attestation listed close to $9 billion in Bitcoin. The next official report is expected in late October and will show whether recent purchases are reflected on paper. A One-Time Transfer And Wider Moves The transfer from Bitfinex highlights close ties between the exchange and the company behind USDT. Activity like this has drawn attention because of the size and the source. In June, Tether also routed roughly $1.4 billion worth of BTC to Twenty One Capital, which is run by CEO Jack Mallers. That deal fed talk that Tether might reallocate some reserves into other assets, including gold, but CEO Paolo Ardoino pushed back on those claims and said Bitcoin remains central to the company’s plan. US Push And New Stablecoin Tether is also expanding in the US. The firm has set up a domestic branch led by Bo Hines, who previously advised the White House on crypto policy. Reports say Tether is planning a federally compliant stablecoin called USAT as part of that effort. The move suggests the company wants a bigger foothold inside US regulatory frameworks while keeping its global operations intact. USDT Growth And Market Role Crypto trackers show USDT’s circulating supply at roughly $175 billion, a 10% rise over the last quarter. That growth underscores the stablecoin’s role as a go-to dollar proxy for traders and DeFi users. With more USDT in circulation, exchanges and liquidity pools rely on it heavily during sharp market moves. Related Reading: Eric Trump Steps Into Market Talk, Says ‘Buy The Dips’ Reserves And Market Signals Larger Bitcoin holdings and a push into the US raise fresh questions. Attestations are meant to build confidence, but critics still press for clearer transparency on how reserves are managed. Markets will be watching the late-October report closely. If Tether’s filings match on-chain activity, that could calm some concerns. If they do not, scrutiny is likely to grow. Featured image from Unsplash, chart from TradingView
The USAD token encrypts transaction data end-to-end, aiming to enable private, programmable digital dollars.
World Liberty Financial (WLFI) has confirmed that its USD1 stablecoin will soon launch on the Aptos blockchain, marking the asset’s first integration with a Move-based network. The announcement, released on Oct. 1, followed an agreement between Aptos and WLFI co-founders Donald Trump Jr. and Zach Witkoff. Following the news, Aptos native APT token jumped 8% […]
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Coinbase CEO Brian Armstrong said the crypto exchange's next goal is to achieve $100 billion in onchain borrow originations.
Tether CEO Paolo Ardoino said the stablecoin issuer aims to leverage Rumble's 51 million monthly active users to boost adoption of USAT.
The new product "enables any business to launch and manage their own stablecoin with just a few lines of code."
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Crypto exchanges and wallet providers have been issuing Visa and Mastercard credit and debit cards in an effort to boost customer adoption.
Swiss liquidity provider Arf, powered by Huma Finance's PayFi network, aims to make cross-border stablecoin settlements faster and more capital-efficient.
With Open Issuance and AI payment standards, Stripe is doubling down on its bet on the rising role of blockchain and digital agents in payments.
Circle is positioned to benefit from surging stablecoin adoption and supportive regulation, but the company’s valuation already reflects much of the upside.
Tether has received 8,888.88 BTC from a Bitfinex hot wallet into an address labeled as its bitcoin reserve address, according to Arkham data.
The bank's analysts said the GENIUS Act has fueled a 42% jump in stablecoin growth this year, with Circle’s USDC chipping away at Tether’s dominance.
The crypto firm behind the largest stablecoin has been accumulating bitcoin alongside gold over the past few years.
The firm has opportunities in three areas: crypto infrastructure, stablecoin payments and its bitcoin treasury strategy.
Hougan argues that understanding these markets reframes how investors should approach the crypto industry.
The deal marks the first collaboration between a major European exchange operator and a global stablecoin issuer, the companies said.
The bank’s regulated stablecoins EURCV and USDCV will be used in DeFi lending and trading.
Visa launched a pilot to test stablecoins for cross-border payments, providing businesses a new way to transfer money abroad more quickly.
The OKX Pay service involves collaboration with crypto infrastructure provider StraitsX and Southeast Asia's "everyday everything" app Grab.