A report by ZachXBT claims over $420 million in USDC stablecoin was involved in illicit activities without timely freezing or blocking by Circle, the issuer. Key incidents include the $280 million Drift Protocol hack and other major exploits where Circle delayed or failed to freeze funds, unlike other stablecoin issuers. These findings raise concerns about the effectiveness of Circle's compliance controls and highlight challenges in managing fast-moving cross-chain exploits. Regulators have not verified these claims, and Circle has yet to respond publicly, but the report may increase pressure on stablecoin issuers to improve real-time enforcement.
Bitcoin and Ethereum experienced combined outflows exceeding $59 million as traders moved funds into stablecoins like USDT and fiat currencies, signaling a cautious stance in the crypto market. This rotation reflects a short-term defensive strategy, ...
The US Treasury added four crypto wallets linked to Iran's central bank to its sanctions list, prompting Tether to freeze $131 million in USDT held in TRON-based addresses. These wallets had received over $165 million in stablecoins, part of Iran's b...
Circle won a court-backed arbitration ruling confirming it lawfully suspended Heka Funds' USDC minting and redemption services due to undisclosed ties to Tether and suspected market manipulation. Heka failed to disclose Tether as its main investor, w...
Tether is shifting stablecoin use from crypto trading to everyday financial services by leading a $7 million investment in Pact Labs. The company aims to integrate its stablecoin USA₮ into payroll systems and real-time payments, addressing the $11 tr...
Pact Labs secured $7 million in a Series A funding round led by Tether to enhance its on-chain lending platform on the Aptos blockchain. The company operates the PACT Protocol, which has facilitated nearly $2 billion in loans and serves around 500,00...
