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.
Meta has launched a pilot program paying select creators in Colombia and the Philippines using USDC stablecoins on Polygon and Solana blockchains. This new method offers near-instant, traceable payments outside traditional banking hours, aiming to st...
Hyperliquid has rapidly grown to over $10 billion in open interest for perpetual futures, expanding beyond crypto into equities, commodities, and pre-IPO assets. Its fully on-chain central limit order book offers sub-second execution and high through...
Fireblocks has integrated the Stacks Bitcoin Layer 2 network, allowing its 2,400 institutional clients to access Bitcoin-native DeFi services. This integration supports custody of STX tokens and minting of sBTC, enabling institutions to use DeFi prot...
The EU's new MiCA regulation ends a transition period on July 1, forcing exchanges to delist stablecoins like Tether's USDT that lack MiCA authorization, affecting about $17.5 billion in EU-circulating USDT. This regulatory shift is driving liquidity...
PancakeSwap has added a new MUSD-USDC stablecoin liquidity pool on the Monad blockchain, increasing its incentivized pools on the platform to 17. This new pool pairs MetaMask's treasury-backed stablecoin mUSD with USDC, offering liquidity providers h...
