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.
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 ...
