Topic: #stablecoins
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State Street, Galaxy launch SWEEP tokenized liquidity fund on Solana first
State Street Investment Management and Galaxy Asset Management launched SWEEP, a tokenized fund for stablecoin holders backed mainly by short-duration Treasuries, starting on Solana with Stellar and Ethereum planned.
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USDT issuance grew on Ethereum without a sustained rise in contract holdings, BIS finds
A BIS working paper found more USDT was issued on Ethereum without a sustained rise in smart-contract holdings, with the contract-held share slipping to roughly 10% to 15% after late 2024, CryptoSlate reported.
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Bitget $387.5M breach: Sygnum shields institutions while retail freezes
Bitget's $387.5 million breach on September 24 triggered a withdrawal freeze, but Sygnum's Swiss bank custody service let institutional clients trade with collateral held off-exchange—a protection unavailable to retail traders.
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Two XRPL AMM pools account for 97% of volume with just 185 trades
Two pools exchanging TIX for other issued tokens accounted for 97.24% of seven-day automated market maker volume on XRP Ledger, despite recording only 185 total trades and no activity in the latest 24 hours.
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Aave's Kulechov pitches DeFi "Uber path" after Senate blocks CLARITY Act
Aave founder Stani Kulechov called on DeFi to build mass-market products and become politically indispensable after senators rejected the CLARITY Act's path to a floor vote. His strategy reveals how Aave's consumer-grade design could sidestep regulatory oversight.
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World Money Super App Launches With Self-Custodial Wallet Across 150+ Countries
World Money, a financial super app co-founded by Sam Altman and Alex Blania, launched on September 17 with self-custodial wallet features, stablecoin support, and yield-earning tools across 150+ countries.
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Institutional lending gains traction on XRP Ledger with RLUSD loans
Clearpool Finance highlighted institutional lending on the XRP Ledger gaining traction with RLUSD-denominated loans. Prediction markets and market observers view the development as a positive signal for Ripple's ecosystem, though lending features remain in testing.
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Crypto valuations could double as protocols adopt token buybacks
Bitwise Chief Investment Officer Matt Hougan said crypto valuations could at least double as protocols increasingly use revenue to fund token buybacks and burns, with revenue-capture mechanisms expected to spread across DeFi and layer-1 networks over the next 12 to 24 months.
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XRP Holders Can Borrow RLUSD on Ethereum Without Selling
Flare's FXRP has been approved as collateral in a Morpho lending vault, allowing XRP holders to tap Ethereum's DeFi markets and borrow Ripple's RLUSD stablecoin against their holdings without selling.
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Spark Pivots to DeFi Backend for PayPal, Robinhood Stablecoin Rails
Spark, the lending unit of Sky (formerly MakerDAO), abandoned its consumer-facing app to focus on supplying liquidity and yield infrastructure to major fintech platforms. The shift targets $1 billion in OTC lending by year-end, with Robinhood and PayPal already live on its stablecoin rails.
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Visa cuts 7% of workforce to accelerate digital payments strategy
Visa is eliminating roughly 2,600 jobs, or 7% of its workforce, to streamline operations and redirect resources toward high-growth areas including stablecoins and cross-border payments, CEO Ryan McInerney announced ahead of quarterly earnings.
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XRP Community Validates 32.445B Token Escrow Holdings
XRP community members and the XRP Ledger Foundation director validated Ripple's escrow holdings at 32.445 billion XRP using public blockchain data, clarifying conflicting figures circulating online.
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Goldman Sachs CEO Backs Digital Asset Market Clarity Act
David Solomon, CEO of Goldman Sachs, endorsed the Digital Asset Market Clarity Act, arguing it would provide regulatory certainty and enable more regulated financial institutions to participate in blockchain markets. Senate Majority Leader John Thune, however, tempered expectations about passage timing.
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Farage Investigated Over Crypto Lobbying Tied to Tether Donor
Parliament's standards watchdog is investigating whether Reform leader Nigel Farage improperly lobbied the Bank of England on cryptocurrency policy to benefit his largest donor, billionaire Christopher Harborne, who holds a 12% stake in Tether.
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UK seizes Russian oil tanker SMYRTOS in shadow fleet crypto crackdown
UK military boarded the sanctioned tanker SMYRTOS on June 14, marking the first direct military interdiction of Russia's shadow fleet. The operation exposed crew payments in USDT stablecoins, raising regulatory pressure on cryptocurrency's role in sanctions evasion.
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MicroStrategy sells first Bitcoin since 2022; ECB warns on stablecoin dollar dominance
MicroStrategy sold 32 Bitcoin for $2.5 million, its first sale since 2022, to fund preferred stock distributions. Meanwhile, the ECB warned that stablecoins could entrench dollar dominance in tokenized finance.