PiggyBank, a DeFi yield protocol, reported a 15% drawdown in its USDC vault caused by an error in a LAB basis trading strategy. This loss is significant as USDC vaults are typically seen as low-risk, stablecoin-based products. The incident has sparked scrutiny from on-chain investigator ZachXBT, who questioned PiggyBank's risk management and safeguards. The event highlights that even stablecoin products carry strategy risks, and users await PiggyBank's detailed explanation and plans to prevent future losses.
In June 2026, Circle minted $500 million USDC on Solana, raising Solana's share of global USDC to about 10.3% and increasing on-chain dollar liquidity to support payments, DeFi, and real-world asset transactions. This surge builds on Solana's $16.4 b...
Circle's Chief Strategy Officer Dante Disparte states that the debate over open payments infrastructure competing with closed networks is settled, as major payment companies like PayPal, Stripe, Visa, and Mastercard integrate stablecoin features. Cir...
MassPay, a global payout platform, now enables eligible clients to send USDC stablecoin payments instantly worldwide using Coinbase's payment infrastructure. This integration allows businesses to manage wallets, convert funds to USDC, and initiate pa...
In the past 24 hours, USD Coin (USDC) experienced a net outflow of $141 million while Tether (USDT) saw a net inflow of $41.4 million, indicating a rotation of capital among stablecoins. Bitcoin showed heavy two-way flows with a small net outflow, su...
Raydium's Legacy AMM V3 program was exploited due to a validation flaw allowing an attacker to bypass proportion checks and drain $1.34 million from five inactive liquidity pools. The attack did not affect current Raydium programs, SDK, or user inter...
