A U.S. federal judge ordered Circle to blacklist Zama's cUSDC contract, freezing about $12.6 million in pooled USDC funds due to a class action lawsuit against Overnight Finance's creator, Maxim Ermilov. Plaintiffs allege Ermilov moved $15.77 million from a shared treasury just before a governance vote to liquidate funds passed. The freeze affected all users in the pooled contract, not just the disputed funds, prompting Zama to pause related contracts and investigate. The case highlights legal risks for pooled DeFi contracts and will proceed with a hearing on June 1 to resolve the dispute.
Circle has blacklisted and frozen about $12.6 million in confidential USDC (cUSDC) held in a Zama protocol contract on Ethereum, preventing token holders from redeeming their funds. The freeze, linked to funds traced to Overnight Finance amid governa...
In May 2026, Tether announced a broad strategic expansion into artificial intelligence, payment infrastructure, and regulatory compliance, moving beyond its traditional focus on USDT stablecoin issuance. These initiatives aim to diversify Tether's bu...
Litecoin, once promoted as a fast, cheap digital payment option, is losing ground to stablecoins like USDC and USDT that offer similar speed and low fees but without price volatility. Merchants and users prefer stablecoins because they maintain a con...
Tether's USAT stablecoin saw a dramatic 540% increase in circulation during April, growing from $22 million to $140.8 million. This rapid growth is driven by institutional adoption for treasury management and compliant dollar liquidity solutions, sup...
Block's head of Bitcoin product, Miles Suter, firmly rejected integrating XRP into the Cash App ecosystem, stating "never" in response to user inquiries. Instead, Block has launched free USDC stablecoin transfers for its 59 million users across multi...
