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.
Sui's stablecoin supply has remained steady near $500 million, about 69% below its May 2025 peak of $1.6 billion. Despite this, the network has processed over $65 billion in zero-fee stablecoin transfers since June 10, thanks to a protocol update rem...
Circle CEO Jeremy Allaire highlighted that 99.3% of payments between AI agents using the x402 protocol settled in USDC during Q2, with USDC circulation reaching $73.3 billion and transaction volume growing 151% year-over-year. The x402 protocol enabl...
Tether's stablecoin USDT gained about 1.6 million new holders last week, significantly outpacing USDC's 591,100 new holders, showing stronger adoption despite a cooling stablecoin market. USDT's market cap is around $183 billion, about 2.5 times larg...
Circle and Tether, the leading stablecoin issuers, minted $3 billion in new tokens over two days, reflecting ongoing high demand for dollar liquidity on blockchain networks. Tether added $1 billion to its USDT supply, now around $183 billion, while C...
