Circle Internet Group faces a class action lawsuit after allegedly failing to freeze $230 million in USDC stolen during a $280 million exploit of the Drift Protocol in April. The lawsuit claims Circle allowed hackers to transfer stolen funds across blockchains using its Cross-Chain Transfer Protocol without intervention, accusing the company of aiding conversion and negligence. The case highlights legal uncertainties around crypto firms' ability to freeze assets amid hacks, with Circle previously freezing wallets in other cases. While some criticize Circle's inaction, others argue freezing without legal orders risks arbitrary decisions. The stolen funds are suspected to have been laundered and possibly linked to North Korean hackers.
Ondo Global Markets reached $1 billion in total value locked (TVL) for tokenized stocks by May 2026, with projections to hit $5 billion by year-end. USDC, Circle's stablecoin, is the preferred settlement currency for these tokenized equities, favored...
JPMorgan has raised concerns that HyperliquidX's rapid expansion and large USDC holdings could undermine the economic model of Circle's USDC stablecoin. HyperliquidX, a decentralized perpetual exchange, has amassed over $5 billion in USDC and is shif...
Starknet introduced STRK20, a privacy framework on its Ethereum Layer-2 network that shields ERC-20 token balances and transactions using encrypted notes and zero-knowledge proofs. This system allows private transfers and swaps without separate priva...
Bitcoin is expected to hold above $56,000 on July 13, supported by upcoming June CPI inflation data and major bank earnings reports. Circle received final approval from the U.S. Office of the Comptroller of the Currency for its national trust bank, a...
Circle has minted $250 million worth of USD Coin (USDC) on the Solana blockchain, increasing the stablecoin's liquidity on Solana by more than 10% in a single transaction. This move is part of a larger trend with nearly $1 billion USDC introduced to ...
