Track market-moving stories before they get noisy

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Circle’s stock price has become a pressure gauge for the company’s claim that regulated stablecoins can build durable moats. A 76% drop from $260 to $62 doesn’t usually align with the narrative of a dominant infrastructure play, and Circle President Heath Tarbert had to address that directly during a July 14 interview with FOX Business, as detailed in the original report.

Tarbert’s message was a long-game thesis: Circle is building what he calls full-stack internet platform infrastructure, and the stock will eventually reflect that. The timing matters because Circle is arguing this just as the Open USD consortium—a 140-member group featuring Visa, Stripe, Mastercard, and Google—formalizes a competing vision for stablecoin issuance. The consortium promises interoperability and broad distribution through existing payment rails, challenging Circle’s position as the regulated stablecoin standard.

What $73 Billion and 34 Chains Really Mean Tarbert pointed to two numbers that Circle believes are extremely difficult for any consortium to replicate quickly. USDC has $73 billion in circulation and native support on 34 Layer-1 and Layer-2 blockchains. That breadth of chain support is not a minor integration detail; it means USDC is already embedded in the developer workflows and liquidity routing for DeFi protocols across ecosystems, as shown by recent blockchain developer activity rankings that put Ethereum, Solana, and Polygon among the most active environments—all chains where USDC functions natively.

Native deployment matters because cross-chain bridges introduce latency and security vulnerabilities. A consortium that launches a stablecoin on a handful of chains later this year might find that liquidity and developer tooling have already clustered around USDC. Tarbert’s network effects argument leans heavily on the idea that minting another dollar token is easy, but persuading every lending protocol, DEX, and yield aggregator to re-plumb their infrastructure around a new asset is an entirely different problem.

The Tether Shadow and the Regulatory Edge Circle’s competitive positioning isn’t only about Open USD. Tether remains the largest stablecoin by market cap, operating with a much lighter regulatory footprint. Tarbert drew a deliberate line: USDC is the largest regulated stablecoin and holds the highest actual transaction volume. That framing matters because transaction volume—not just issuance—is what generates fee revenue and signals real usage rather than parked capital.

The regulatory dimension complicates the consortium picture as well. Washington’s stablecoin legislation remains in flux, with major crypto bills facing last-minute banking opposition that could reshape who gets to issue dollar tokens. A framework that enforces strict reserve and redemption requirements benefits Circle because it is already operating under those constraints with USDC. The consortium players, many of which have not yet publicly detailed their reserve structures, may have to adapt quickly if the legislative environment tightens.

What remains uncertain is whether the market will reward Circle’s patience. The stock’s collapse suggests investors are pricing in the possibility that a payments-industry consortium backed by Visa and Mastercard can erode USDC’s share faster than Tarbert’s network effects can defend it. The consortium’s distribution advantage—direct access to merchants and card networks—is not imaginary, but stablecoin adoption to date has been driven by DeFi capital, not retail payments. If the market shifts toward consumer and merchant settlement, that advantage could become more threatening.

What the Stock Tells You That Press Statements Don’t Tarbert’s answer was structurally sound for a long-duration asset story: the fundamentals are in place, the moat is real, and the stock price will catch up. But a 76% drawdown also signals that public markets see a path where Circle’s regulated status becomes less of a differentiator and more of a cost center. The stablecoin sector is moving toward tokenized treasury products and real-world asset integrations, as seen in the broader drive to put $20 billion of real-world assets on-chain, and that shift could create demand for multiple compliant stablecoins rather than a single winner.

The next few months will test whether Circle’s infrastructure-first approach can withstand a payments-industry offensive while Washington sorts out the legislative framework. For traders and market participants watching the stablecoin wars, the gap between Circle’s $73 billion circulation figure and its $62 stock price is the only number that currently speaks without a corporate filter.

AUTHOR

Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.

Whale Alert: A single whale holds a long BTC position worth $107 million, now the largest BTC bull.

According to Hyperinsight monitoring, a 40x-leveraged whale (0x66f) accumulated a long position of 1,662.50 BTC between last night and early this morning, with the position valued at approximately $107 million, marking the address’s only current holding. Its average entry price is $63,958.4, generating an unrealized profit of $926,900 and a return of around 34.87%, while its liquidation price stands at $63,143.1. Over the past seven days, this whale has opened a total of 1,882.87 BTC in long positions, with a trading volume of roughly $121 million for these longs; at 7:12 AM today, it added 2.04 BTC to its long position at $64,700, making it the largest BTC long holder on Hyperliquid.

6 minutes ago

South Korea's KOSPI index dropped over 4% once again, with SK Hynix and Samsung Electronics both down 4.4%.

According to Bitget market data, South Korea’s KOSPI index has fallen by over 4% again. Both SK Hynix and Samsung Electronics dropped 4.4%.

6 minutes ago

Analysis: Binance and Bybit recorded over $2.3 billion in stablecoin outflows over the past 30 days, while Bitcoin (BTC) liquidity continues to contract.

CryptoQuant analyst Darkfost stated in a recent post that stablecoin reserves on Binance and Bybit have been steadily declining, with a combined outflow of more than $2.3 billion over the past 30 days, a trend reflecting insufficient new liquidity in the crypto market. Binance’s stablecoin reserves decreased by roughly $1.55 billion in that period, while Bybit’s fell by approximately $786 million, bringing the total outflow from the two major exchanges to nearly $2.3 billion. Bitcoin has been fluctuating around the key $60,000 level for about 165 consecutive days; although it briefly surged past $80,000 in May, the upward momentum could not hold. The current market lacks new capital inflows, with weak new demand for both BTC and the overall crypto sector. Exchange stablecoin reserves have been on the decline since the start of the year, with outflows dominating, signaling that investors are reducing their fund allocations to exchanges, and some capital may even be exiting the market. Liquidity contraction and cautious market sentiment have become major obstacles for BTC to break out of its current trading range.

6 minutes ago

Hong Kong-listed Zhipu fell more than 13%

According to Bitget market data, Zhipu (02513.HK) fell more than 13% and MINIMAX-W (00100.HK) dropped over 4%.

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Southern Fund’s double-leveraged long ETFs tracking SK Hynix and Samsung Electronics both rose 15% at opening.

Southern’s 2x Long SK Hynix (07709.HK) and Southern’s 2x Long Samsung Electronics (07747.HK) both opened 15% higher.

6 minutes ago

The South Korean government plans to establish a legal framework for the issuance of Korean won stablecoins, and promote the internationalization of the Korean won.

According to South Korean media reports, the Financial Services Commission, Bank of Korea, Financial Supervisory Service, and Korea Securities Depository have jointly announced relevant plans, aiming to transform the South Korean won from a restricted-convertible currency to a freely convertible one and improve the cross-border capital flow system. Under the framework of the Digital Asset Basic Act, the South Korean government intends to clarify the issuance and circulation rules for KRW-denominated stablecoins, providing an institutional basis for the entry of KRW-pegged stablecoins into the market. Furthermore, the Bank of Korea will advance a pilot project combining institutional central bank digital currencies (CBDCs) with tokenized government bonds, and participate in the Bank for International Settlements (BIS)-led Project Agora to explore a digital cross-border payment system.

6 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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Brian Armstrong Admits Bitcoin Didn’t Deliver Satoshi’s Vision, Something Else Did

Circle President Heath Tarbert has defended the company’s long-term strategy after Circle shares fell sharply from their post-IPO peak.

Summary

Circle says USDC’s scale and network effects remain difficult for new stablecoin competitors to replicate. Open USD adds pressure as Circle shares trade far below their post-IPO peak near $260. Circle keeps expanding regulated infrastructure while investors question competition, margins, and future stablecoin revenue sharing. Speaking in a July 14 interview with FOX Business, Tarbert said management remains focused on building financial infrastructure rather than reacting to short-term moves in the stock.

The interview came as Circle faced growing investor concern over competition in the stablecoin market. CRCL had traded near $260 after its public debut before falling toward the low $60 range. Tarbert said Circle is “playing the long game” and argued that successful execution would eventually support shareholder value.

Tarbert points to USDC network effects Tarbert said Circle’s main focus remains building a full-stack internet financial platform around USDC and related infrastructure. He argued that the company’s position cannot be measured only through daily stock movements and said the stock should “take care of itself” if Circle delivers on its wider mission.

He also defended USDC against new competitors. Tarbert pointed to roughly $73 billion in circulation and native support across 34 blockchains, saying those network effects would be “incredibly hard to replicate.” Circle describes USDC as a regulated digital dollar used across trading, payments and settlement.

Open USD adds new pressure to Circle The comments came after Open Standard launched Open USD, a planned stablecoin backed by more than 140 participating businesses. The group includes Visa, Mastercard, Stripe, BlackRock, BNY and Coinbase. Open Standard says partners can mint and redeem Open USD without fees and receive reserve earnings after a management charge.

As reported by crypto.news, Circle shares fell 17.5% to $62.63 after Open USD entered the market and CRCL left several Russell Growth indexes. The decline added to concerns about whether new stablecoin models could pressure Circle’s economics.

Wall Street has also raised questions about that competition. Crypto.news reported that Mizuho cut its Circle price target to $50, arguing that Open USD’s revenue-sharing structure could pressure margins and raise distribution costs.

Circle faces pressure over USDC economics Circle’s challenge extends beyond new stablecoin issuers.JPMorgan lowered earnings forecasts for Circle and Coinbase after a new revenue-sharing agreement tied to USDC balances on Hyperliquid. The bank said stronger adoption could come with lower reserve income retained by the companies.

Tarbert pushed back on the idea that competitors can quickly reproduce USDC’s reach. He also described USDC as the largest regulated stablecoin and said it leads in actual transaction volume, presenting scale and existing distribution as key parts of Circle’s competitive position.

Circle keeps expanding regulated infrastructure Circle has continued adding regulated infrastructure despite the stock decline. On July 10, the company received final OCC approval to establish Circle National Trust. The trust bank will initially provide digital asset custody, with USDC reserve management planned as a possible future service.

As reported by crypto.news, the approval places the new entity under direct federal supervision. Circle says the structure could support wider institutional use of its digital asset infrastructure.

Tarbert’s comments frame the stock decline against a wider contest for stablecoin distribution and reserve income. Open USD brings a large group of payment and financial companies into the market, while Circle continues betting that USDC’s existing network and regulated infrastructure will support its long-term position.

When your stock drops 76% from its peak, “we’re building for the long term” is either a visionary rallying cry or the corporate equivalent of “it’s fine, everything’s fine.” Circle President Heath Tarbert is betting hard on the former.

In a recent presentation, Tarbert laid out the case for why Circle’s infrastructure play will ultimately vindicate shareholders who’ve watched CRCL crater from roughly $260 in June 2025 to around $62 as of mid-July 2026. His core argument: USDC’s network effects are a moat that competitors simply cannot replicate overnight, and the company is layering new products and regulatory wins on top of that foundation.

Arc blockchain and the $222 million bet The centerpiece of Circle’s forward-looking strategy is Arc, a Layer-1 blockchain purpose-built for stablecoin transactions and on-chain finance. The public testnet launched on October 28, 2025, and the project has already attracted serious capital.

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In May 2026, a presale of Arc’s native token raised $222 million at a fully diluted valuation of $3 billion. The investor list includes BlackRock and Apollo.

The strategic logic is straightforward. USDC generates revenue primarily through the interest earned on its reserves. Arc gives Circle a second engine: a blockchain ecosystem where USDC is the native currency, generating transaction fees and deeper integration across DeFi and traditional finance.

Regulatory wins as competitive moats Tarbert also pointed to Circle’s recent federal approval to establish a national trust bank. This charter allows Circle to custody USDC reserves under direct federal oversight, a distinction that matters enormously in the current regulatory environment.

On the international front, Tarbert described new U.K. stablecoin regulations as “revolutionary,” noting their approach of treating stablecoins like cash equivalents.

What this means for investors The bull case for Circle at current prices isn’t complicated. The stock has been decimated, the company has a federal banking charter that no competitor currently matches, Arc has attracted heavyweight backing, and stablecoin regulation is moving in a direction that favors compliant issuers.

The bear case is equally straightforward. Revenue concentration in interest income makes Circle vulnerable to rate cuts. Arc is pre-mainnet and unproven. And a 76% stock decline often reflects fundamental concerns that a single executive presentation can’t resolve.

One data point worth monitoring: the $3 billion valuation that Arc’s token presale commanded versus Circle’s own depressed public market capitalization. When your side project raises at a valuation that rivals your stock price, either the token market is overenthusiastic or the equity market is underpricing you.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

No emergency rules take effect immediately; stablecoin issuers keep operating under existing state and federal frameworks until new regulations exist. Circle remains unable to secure the federal certification it needs to sell USDC to conservative corporate treasuries. Banks continue avoiding stablecoin reserve deposits because the FDIC has not clarified how those deposits affect capital requirements. The 2028 deadline banning non-compliant stablecoins from exchanges has not moved, compressing the runway issuers have left to prepare. Nothing shuts down. That is the first thing to understand about Saturday’s missed deadline: the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation failed to finalize joint rules for payment stablecoins under the GENIUS Act, but no stablecoin stopped trading and no issuer lost its license overnight. What changes is less visible and more consequential. Issuers, banks and exchanges now operate in an extended limbo where the rules everyone expected by July 18, 2026 simply do not exist, and the law offers no built-in fallback for what regulators do next. Circle and Tether both keep functioning under the same patchwork of state licenses and private attestations that governed them before the Act passed in July 2025.

Circle’s IPO Pitch Stays Incomplete Without a Federal Stamp Circle has built its public positioning around being the compliant, bank-friendly alternative in a market often associated with regulatory shortcuts. Without finalized rules, the company still cannot tell a conservative corporate treasury, the kind of name like Walmart or Apple would represent, that USDC carries the specific federal payment-stablecoin designation Congress created for that exact purpose.

Tether faces no equivalent wait. It keeps expanding across Latin America and Southeast Asia under its existing offshore structure. Every month the U.S. spends without final rules is a month offshore issuers spend capturing market share the GENIUS Act was written to bring onshore, which is the clearest near-term consequence of the delay: growth keeps happening, just outside U.S. jurisdiction.

Who What changes now What stays the same Circle / USDC Still cannot pitch federal certification to treasuries Operates under existing state licenses Tether / USDT Keeps expanding offshore market share unopposed No exposure to U.S. rulemaking delay Banks Still avoid stablecoin deposits over capital-rule uncertainty Wait for FDIC guidance that has not arrived Exchanges Face a shrinking runway before the 2028 listing ban 2028 deadline itself has not moved None of the four groups in that table had a vote in the reserve-composition dispute that caused the delay.

Why the Fed and OCC Still Cannot Agree on Reserves The delay traces back to a single unresolved dispute. In remarks delivered March 31, 2026 at a Federalist Society event on GENIUS Act implementation, Federal Reserve Vice Chair for Supervision Michael Barr laid out the Fed’s preference for reserves limited to short-term Treasury bills maturing in under 90 days plus central bank cash deposits, a narrow standard meant to keep stablecoins as close to cash-equivalent as possible. The OCC has pushed to include short-term, highly rated commercial paper instead, arguing that excluding it piles unnecessary demand onto overnight repo markets. Neither has budged. Until one side concedes or Congress steps in directly, this one disagreement blocks the entire joint rule regardless of how many separate proposals either agency drafts on its own, and regulators have already issued ten of them over the past year without resolving it.

A Second Agency Has to Move Before the First Two Can Finish Even if the Fed and OCC settled the reserve question tomorrow, a second, quieter bottleneck would remain. The FDIC’s own proposed rule, approved by its board on April 7, 2026, would require issuers to hold reserves at FDIC-insured banks. The FDIC has not clarified how multi-billion dollar stablecoin deposits affect a bank’s capital surcharge calculations, so most banks read that silence as a risk they cannot price and decline the business rather than absorb an unquantified penalty.
That leaves issuers holding reserves through arrangements the eventual rules may or may not recognize once they exist. It is a second layer of uncertainty stacked directly on top of the first, and it is arguably harder to fix than the reserve-composition fight, since it requires a fourth agency, functionally, to move before the other three can finish their work.

Three Signals Worth Watching Before 2028 The two-year runway Congress built into the GENIUS Act, running from the original 2026 rule deadline to the 2028 exchange listing ban, just got shorter without anyone extending the 2028 date itself. Watch for three things:

A joint statement from the Fed and OCC narrowing the reserve-asset disagreement FDIC guidance on how insured banks should treat stablecoin deposits Congressional hearings expected to summon Fed Chair Jerome Powell, given the GENIUS Act’s rare bipartisan backing Any one of those moving before year-end would suggest the delay stays a bureaucratic footnote rather than a market event. None of them moving by early 2027 puts real pressure on the 2028 cliff, and lobbying groups are not waiting to find out which outcome they get. Industry advocates are already pushing to reopen comment on the reserve-composition language ahead of the agencies’ own schedule, and a handful of mid-sized issuers are quietly exploring parallel registration in Singapore or the UAE as insurance against a U.S. framework that keeps slipping past its own deadlines.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Changxin Technology's IPO winning numbers have been released, totaling 7,702,207.

According to an announcement by Changxin Technology, the company’s initial public offering (IPO) and listing on the STAR Market has released its offline preliminary placement results and online lottery results. The offering price is RMB 8.66 per share, with an initial share offering size of approximately 6.688 billion shares. A total of 7,702,207 winning lottery numbers have been issued, and each winning number entitles holders to subscribe for 500 Changxin Technology A-shares.

4 minutes ago

Renowned trader closes all crypto short positions, resumes buying Bitcoin spot

Renowned crypto trader Doctor Profit announced in a post that he has closed all his cryptocurrency short positions, including Bitcoin shorts established in the $115,000–$125,000 range, another Bitcoin short in the $79,000–$82,000 range, and over 100 altcoin shorts opened in recent months, noting that all these positions have generated significant profits. He also said he has repurchased Bitcoin spot at $64,000, marking his first long-term allocation since September 2025. His plan is to invest 5% of his planned capital daily in spot Bitcoin purchases when the price is in the $54,000–$64,000 range, for up to 20 days total; if the price approaches $54,000, he will increase his buying activity. Doctor Profit pointed out that the current market is showing clear "herd behavior": investors who were previously bullish on Bitcoin up to $150,000 at high levels are now widely waiting for the cryptocurrency to drop to $40,000–$50,000, and are targeting September or October as the bottom of the four-year cycle. When a large number of investors are waiting for the same price level and time point, the market may not move as expected, so he chose to build positions in advance and judges that this cycle’s bottom may arrive earlier than the market’s general expectation. He also cited regulatory clarity, asset tokenization infrastructure, and progress in institutional adoption as the structural reasons for his shift to buying, and retracted his previous prediction that Bitcoin would fall to $40,000–$50,000. However, he still holds all his S&P 500 short positions, arguing that the crypto market has completed a large repricing, while U.S. stock valuations remain elevated.

4 minutes ago

Binance Wallet’s Meme Rush adds new launchpad filter options for Robinhood Chain-based projects including Virtuals Protocol, Flap, and Bankr.

According to official announcements, Binance Wallet’s Meme Rush has added new launchpad filter options for Robinhood chain projects including Virtuals Protocol, Flap, and Bankr, helping users discover more on-chain token opportunities. Users can now track tokens across BSC, Solana, ETH, Base, and Robinhood chains via Meme Rush, with a single feed to stay updated on multi-chain hotspots.

4 minutes ago

Zcash launches Zakura full node, aiming to boost its privacy transaction throughput to 50,000 per second.

Zcash has launched its new full-node client Zakura 1.0.0, the first implementation component aimed at scaling its private transaction throughput from the current ~1 transaction per second (TPS) to payment-network-level capacity. Maintained by Sean Bowe, an early Zcash zero-knowledge cryptography contributor, and Dev Ojha, head of Valar Group, the client operates independently of the Zcash Foundation and is funded via private ZEC donations. Built on the Zcash Foundation’s Zebra client, the team provides an ~11GB blockchain snapshot, allowing new nodes to sync up in two minutes—an approximately 680x speed improvement. Its compatibility mode also replicates the legacy zcashd interface, enabling wallets and exchanges to continue operating after the original client’s maintenance ends on July 18. The team notes that Visa and Mastercard process over 50,000 transactions per second, a benchmark it has set as its minimum target. To reduce the verification burden of large-scale private transactions, Bowe’s Tachyon project is developing recursive proofs, which let nodes validate thousands of proofs with a single proof. Valar Group is building private information retrieval (PIR) technology, allowing wallets to access relevant transaction data without exposing their query content. Zakura is also testing a fast block propagation system that delivers new blocks to all nodes in half a second. Its upcoming testnet is the Ironwood upgrade, set to activate on the mainnet on July 28. Ironwood will use a "rotating door" mechanism to restrict inflows and outflows of the Orchard privacy pool, mitigating risks of fake ZEC entering circulation due to prior zero-knowledge proof vulnerabilities.

4 minutes ago

Moonshot (Kimi)’s technological breakthrough triggers sell-offs in AI stocks, with leveraged products amplifying market volatility.

According to Bloomberg, Chinese AI startup Moonshot has achieved an unexpected technological breakthrough, triggering sharp declines in global AI and semiconductor stocks on Friday and prompting markets to once again reference the 2025 "DeepSeek Moment". The semiconductor benchmark index has fallen roughly 20% from its June peak, entering a bear market; the triple-leveraged semiconductor ETF SOXL has dropped more than 50% over the same period. This sell-off demonstrates that when rapid advances in AI technology reshape market perceptions of winners and losers, leveraged ETFs, options, single-stock funds, and crypto-related products may be liquidated simultaneously. Bloomberg Intelligence data shows leveraged ETFs make up around 13% of U.S. ETF trading volume but only 1.2% of industry assets. When accounting for embedded leverage, their share of the U.S. stock market remains less than 1%. While these products are generally small in overall size, their holdings are concentrated in AI chips, volatile stocks, and newly listed firms. When leverage, concentration, and volatility rise at the same time, the funds' daily rebalancing turns them into active trading forces that further amplify existing market trends. The South Korean market offers a clear recent case: local retail investors have heavily purchased leveraged products tied to Samsung Electronics and SK Hynix, and as market sentiment turned weak, the related funds were forced to sell an estimated tens of billions of dollars worth of SK Hynix positions.

4 minutes ago

Mizuho downgrades Circle to Underperform, cuts its target price to $50

According to Bloomberg, Circle’s stock price has fallen more than 75% from its post-IPO high last year. Dan Dolev, an analyst at Mizuho Securities USA, downgraded Circle this week from "Neutral" to "Underperform", setting a Wall Street-low target price of $50, which implies roughly 18% downside from Thursday’s closing price, well below the average analyst target of $123 tracked by Bloomberg. Dolev argues Circle faces rising competition risks in the stablecoin space. Over 100 fintech firms, payment networks, crypto companies and banks, including Visa, Stripe, Coinbase and BlackRock, are backing the Open Standard project, which will issue OUSD. Circle’s stock fell 7.7% on Thursday, the same day Visa launched a stablecoin issuance, transfer and management platform for financial institutions. Circle generates most of its revenue from interest on USDC’s reserve assets, while new stablecoin initiatives like OUSD plan to share reserve returns with partners and charge lower management fees. Dolev says this business model could draw partners away from Circle, intensifying pricing and margin pressure on the firm. He projects Circle’s adjusted EBITDA for 2027 will hit $699 million, below the consensus market estimate of $907 million. He also noted that Circle and Coinbase’s USDC distribution agreement is set to be renegotiated in August, with Coinbase likely to leverage competitive pressure from OUSD to secure a higher revenue split.

4 minutes ago

Fintech

19 July 2026 | 09:50 OKX Europe now lets eligible EEA users deposit USDT through a dedicated one-way flow and receive USDC, with network selection and transaction review remaining the most important checks before transfer.

Key Takeaways OKX Europe has introduced a dedicated feature for eligible EEA users converting externally held USDT into USDC. USDT deposited through the feature does not become a holdable or tradable balance in the user’s account. The process only works from USDT to USDC and cannot be reversed through OKX Europe. Users must match both the blockchain network and the exact USDT or USDT0 version before transferring funds. OKX Europe has introduced a dedicated feature that allows eligible users in the European Economic Area to deposit USDT and convert it into USDC.

The USDT Convert feature, available since July 17, is not a reopening of ordinary USDT deposits or trading. It accepts USDT through a specific deposit flow for the sole purpose of converting it into USDC.

Users do not receive a USDT balance that can be held or traded after the deposit. The conversion also works in only one direction, meaning the resulting USDC cannot be converted back into USDT through the same service.

That makes the choice of network and token version particularly important. A transfer made through an unsupported blockchain, to the wrong address or with an incompatible version of USDT may not be credited correctly.

What the One-Way Conversion Means The feature is intended for eligible EEA users who already hold USDT in an external wallet or on another platform and want to exchange it for USDC through OKX Europe.

It does not create a new USDT trading pair. Instead, the deposit enters a dedicated conversion process and the user receives USDC after completing the required action inside the feature.

The process can be summarized as follows: 1

The user opens USDT Convert inside the OKX Europe website or app;

2

A supported blockchain network and deposit address are selected;

3

USDT is transferred from an external wallet or another platform;

4

The user reviews the amount displayed by the conversion feature;

✓

The converted USDC is credited to the OKX Europe account.

Because the process cannot be reversed through OKX Europe, users should review the displayed conversion amount and transfer details before confirming.

How to Convert USDT to USDC on OKX Europe 1. Confirm that the account is eligible USDT Convert is available to eligible users located in the European Economic Area who access OKX through its European website or mobile app.

Log in and confirm that the feature is visible in the account before sending any funds. An ordinary USDT transfer is not a substitute for using the dedicated conversion flow.

2. Open the USDT Convert feature Navigate to USDT Convert through the official OKX Europe website or app. The page should state that the incoming USDT will be converted into USDC rather than credited as a USDT balance.

Avoid deposit addresses received through emails, private messages, advertisements or unofficial websites.

3. Select the blockchain network Choose the network through which the USDT will be transferred. The network selected on OKX must match the withdrawal network selected in the external wallet or sending platform.

For example, ERC20 USDT must be sent through Ethereum, while TRC20 USDT must be sent through Tron.

Users should also check the exact token version. Some supported routes accept USDT0, while others accept standard USDT or both versions. A matching network name does not by itself confirm that the token is compatible.

4. Verify the address and send the USDT Copy the address displayed inside USDT Convert and compare its first and last characters with the address entered on the sending platform.

The external wallet or exchange may charge a network or withdrawal fee. Review the final transfer amount and any fee displayed before submitting the transaction.

For a large transfer, making a small test transaction first may reduce the risk of sending the entire balance through the wrong network or to an incorrect address.

5. Review and complete the conversion After the deposit is detected, follow the conversion action displayed inside USDT Convert and review the quoted amount of USDC.

Confirm the transaction only after checking that the deposited amount and expected USDC amount are correct. Once the process is completed, it cannot be reversed through OKX Europe.

Which Networks Does OKX Europe Support? At the time of writing, OKX Europe lists 15 supported network routes for the feature. Estimated arrival times and minimum deposits are not guarantees and may change according to network conditions or platform requirements.

OKX Europe: USDT Convert Networks X Layer
Min: 0.01 USDT

Token: USDT and USDT0

Arrival: ~1 minute

Tron
Min: 0.01 USDT

Token: USDT — TRC20

Arrival: ~1 minute

Ethereum
Min: 0.01 USDT

Token: USDT — ERC20

Arrival: ~7 minutes

Aptos
Min: 0.01 USDT

Token: USDT

Arrival: ~1 minute

Arbitrum One
Min: 0.01 USDT

Token: USDT0

Arrival: ~18 minutes

Avalanche C-Chain
Min: 0.01 USDT

Token: USDT

Arrival: ~1 minute

Berachain
Min: 0.01 USDT

Token: USDT0

Arrival: ~1 minute

Monad
Min: 0.00000001 USDT

Token: USDT0

Arrival: ~1 minute

Optimism
Min: 0.01 USDT

Token: USDT and USDT0

Arrival: ~20 minutes

Plasma
Min: 0.01 USDT

Token: USDT0

Arrival: ~1 minute

Polygon
Min: 0.01 USDT

Token: USDT0

Arrival: ~2 minutes

Solana
Min: 0.01 USDT

Token: USDT

Arrival: ~1 minute

Tempo
Min: 0.00000001 USDT

Token: USDT

Arrival: ~1 minute

The Open Network
Min: 0.01 USDT

Token: USDT — TON

Arrival: ~1 minute

Unichain
Min: 0.01 USDT

Token: USDT0

Arrival: ~25 minutes

The options shown inside the user’s own account should be treated as the final source of truth. Supported networks, token versions, minimum deposits and confirmation requirements may be updated after publication.

Why OKX Europe Introduced the Feature Under MiCA guidance published by ESMA and the European Commission, European crypto platforms were expected to address services involving stablecoins that did not meet the framework’s requirements by the end of the first quarter of 2025. OKX says USDT trading remains unavailable on its European platform because Tether’s issuer has not obtained the required authorization, while Circle’s current MiCA white paper identifies USDC as an electronic money token issued in the EEA by its authorized European entity. The conversion feature does not change USDT’s regulatory treatment on OKX Europe; it only allows eligible users to exchange externally held USDT for USDC.

What to Check Before Transferring USDT The main risks come from incorrect transfer details rather than from the number of steps involved.

Before sending funds, users should verify: ✓

That USDT Convert is available inside their own OKX Europe account;

✓

That the receiving network matches the withdrawal network exactly;

✓

That the selected route supports the precise USDT or USDT0 version being sent;

✓

That the deposit is above the minimum amount shown in the account;

✓

That the destination address has been copied from the official platform;

✓

That the displayed USDC amount is acceptable before the final confirmation.

Blockchain transfers are generally irreversible. Anyone who intends to retain USDT rather than exchange it for USDC should not use the feature, because the conversion cannot later be undone through OKX Europe.

This article is provided for informational purposes only and does not constitute financial, legal or investment advice. Always verify the blockchain network, token version, address, minimum deposit and conversion terms before transferring digital assets.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Uniswap plans to implement protocol fees for select v4 pools for the first time, with an on-chain vote scheduled for this Sunday.

Uniswap is set to roll out protocol fees on select v4 liquidity pools for the first time, as two proposals move to a final on-chain vote this Sunday. The proposals include activating protocol fees for Uniswap v4 liquidity pools across seven blockchains, and simultaneously enabling protocol fees for Uniswap v2 and v3 liquidity pools on Robinhood Chain. Since July 1, Uniswap’s cumulative swap volume on Robinhood Chain has surpassed $6 billion.

7 hours ago

Iran's Ministry of Foreign Affairs: The Memorandum of Understanding does not allow the US to open an independent parallel shipping lane in the Strait of Hormuz.

According to CCTV News, Iran’s Ministry of Foreign Affairs stated on the 18th local time that Article 5 of the Iran-US Memorandum of Understanding (MoU) prohibits the US from establishing an independent parallel shipping lane in the Strait of Hormuz. The Iran-US MoU is based on mutual commitments between the two countries, and as long as the US fulfills its pledges, Iran will abide by its own commitments.

7 hours ago

Binance Wallet now supports multiple Launchpad filtering features on the Robinhood Chain.

According to official announcements, Binance Wallet’s Meme Rush now supports filtering for multiple Launchpad projects on Robinhood Chain, including Virtuals Protocol, Flap, and Bankr. Additionally, users can now track tokens across BSC, Solana, Ethereum (ETH), Base, and Robinhood Chain simultaneously via Meme Rush, allowing them to grasp multi-chain market dynamics and popular trends in a unified feed.

7 hours ago

Next Week's Macro Outlook: Federal Reserve Blackout Period Coincides With Earnings Season, ECB Decisions Take Center Stage

As US-Iran tensions continue to evolve, the Federal Reserve will enter its pre-meeting blackout period next week, with no major US data releases that could influence its rate-setting meeting. Traders will turn their focus to Europe. Below are the key market focus points for the coming week (all times Beijing): - Tuesday 20:15: US ADP employment change for the week ended July 4 - Thursday 20:15: European Central Bank (ECB) interest rate decision - Thursday 20:45: ECB President Lagarde holds a monetary policy press conference - Friday 07:30: Japan’s June core CPI year-on-year rate Dozens of companies will release their Q2 earnings next week. Tesla will announce its earnings in the early hours of Thursday, July 23 (Beijing time); BlackRock will release its results ahead of US stock market opening on July 23 (Beijing time); Intel will report earnings in the early hours of Friday, July 24 (Beijing time).

7 hours ago

A whale transferred 19,235 ETH to Binance, worth approximately $35.34 million.

According to YuEmber monitoring, geministar.eth transferred 19,235 ETH (worth approximately $35.34 million) to Binance 15 minutes ago.

7 hours ago

Robinhood addresses controversy: Its support for Trump’s account is aimed at inclusive finance, not to encourage gambling-style trading.

According to The New York Times, as Robinhood integrates prediction markets into its app, external concerns have grown over the platform’s potential to exploit young, inexperienced investors. Additionally, many still associate Robinhood with the meme stock craze that swept markets years ago, and the firm was a key driver of that phenomenon. Today, Robinhood aims to be seen as more than those labels. The company has become one of the entities operating the Trump Accounts program, which gives Robinhood the chance to build closer ties with the next generation of investors while further strengthening its relationship with Washington’s political establishment. Robinhood CEO Vlad Tenev responded that the move is not to encourage speculation, but to expand financial inclusion and help more U.S. households participate in long-term investing. Currently, Robinhood has adjusted some product designs and is working to transition from a “speculative trading platform” to a broader financial services firm.

7 hours ago

Coinbase acknowledges distance from crypto-native users, plans to rebuild trust with Base App relaunch

TL;DRPlasma is a stablecoin-native Layer 1, EVM-compatible and Bitcoin-secured, purpose-built for dollar transfers at scale; getting USDC and USDT onto it is the first step.

Across routes USDT to Plasma through the OFT path (USDT0), a mint-and-burn mechanism that delivers native USDT, not a wrapped placeholder.

Native USDC moves through Circle's CCTP, also native on arrival; the protocol picks the mechanism, you don't.

Most fills settle in about two seconds because a relayer advances the funds on Plasma before settlement.

Across has run since 2021 across 20+ chains and its settlement layer has never been compromised. Bridging in costs a fee; Plasma's zero-fee USDT transfers apply to sending USDT once it is already on the chain.

Bridge to Plasma

Plasma is a blockchain that picked a side. Most Layer 1s court every category of activity at once, gaming, NFTs, perps, lending. Plasma was built for one thing: moving dollars. It is a stablecoin-native Layer 1, EVM-compatible and secured by Bitcoin, with a mainnet beta live since September 2025, and its signature feature is a protocol-level paymaster that lets you send USDT without holding the chain's native token. The chain assumes the asset you care about is a dollar. So the first practical step is plain: before you can use any of it, you have to bridge USDC and USDT to Plasma. The cleanest way to do that is through Across.

Across delivers native USDT to Plasma, not a wrapped substitutePlenty of bridges will hand you a wrapped token that represents USDT somewhere else, an IOU you then have to unwind. Across does something different for USDT. It routes through the OFT path, the Omnichain Fungible Token standard behind USDT0, which burns USDT on the origin chain and mints it on Plasma. What lands in your wallet is native USDT on Plasma, the same asset Plasma's paymaster and its applications expect, with no wrapper to unwrap later.

This matters because of what Plasma is for. A chain optimized for dollar payments is only as useful as the dollars actually on it. A wrapped derivative sitting one redemption away from the real thing is a worse starting position than the canonical token, and the OFT route closes that gap on arrival.

USDC takes its own native path. Across moves it through Circle's Cross-Chain Transfer Protocol, so it arrives as real USDC rather than a bridged stand-in. Both stablecoins, each on its own native rail, requested the same way.

You pick the destination; the API picks the railAcross runs three settlement mechanisms under a single Swap API: its core intents system, which handles most transfers; CCTP for native USDC; and OFT for native USDT0. You don't choose among them. You state the outcome you want, USDC or USDT on Plasma, and the protocol routes through whichever rail delivers the native asset fastest. That is what an intents protocol does. You declare the result; a competitive network of relayers races to fill it.

Speed comes from how the fill works. A relayer fronts the funds on Plasma the moment your deposit is confirmed, so most transfers finish in about two seconds instead of waiting on a slow canonical bridge. The settlement between relayer and protocol happens afterward, out of your way.

How to bridge USDC and USDT to PlasmaThe flow is the same whichever stablecoin you are moving.

Open the Plasma bridge route on across.to. The destination is preset to Plasma.

Select your origin chain, the network where your USDC or USDT currently sits, from Ethereum, Arbitrum, Base, or any other supported origin.

Choose USDC or USDT as the token and enter the amount. The interface shows the quote, the fee, and the amount that will arrive.

Connect your wallet and confirm the deposit. Across routes USDC through CCTP and USDT through the OFT path automatically.

Watch for the funds on Plasma. Native USDC or native USDT typically lands in about two seconds.

For developers wiring this into an app, the same routing is available programmatically through the Across Swap API, which returns ready-to-sign calldata and selects the settlement rail without you hard-coding it.

What is free on Plasma and what bridging actually costsPlasma's headline is zero-fee USDT transfers, and it is real, but it is worth being precise about scope. The paymaster sponsors gas for simple USDT transfers that happen on Plasma, so once your USDT is on the chain you can send it to another Plasma address without holding the native token for gas. Bridging USDT and USDC to Plasma in the first place is a separate action, and it carries a bridge fee like any crosschain transfer. The free part begins after your dollars arrive, not on the way in.

On security: Across has operated since 2021, settles across 20+ chains, and has never suffered a protocol-level exploit. Transfers are backed by relayer capital and verified through UMA's optimistic oracle.

Plasma was built to hold dollars. Bridging is the part where you get your USDC and USDT through the door as the real asset, and the OFT and CCTP routes do exactly that.

Ansem launches SOL airdrop marketing campaign, giving away 1 SOL every 5 minutes.

Crypto KOL Ansem posted on X that he will airdrop 1 SOL to users every 5 minutes before going to bed, with participants only needing to leave their Solana wallet address in the comments to join the event. As of press time, Ansem’s eponymous meme coin ANSEM has a market cap of $176 million, down 5.5% over the past 24 hours.

1 minutes ago

Yesterday, U.S. spot Bitcoin ETFs recorded a net inflow of $132.3 million, marking four consecutive trading days of inflows.

According to Farside’s monitoring, U.S. spot Bitcoin ETFs saw a net inflow of $132.3 million yesterday, marking their fourth consecutive trading day of net inflows. Specifically, IBIT recorded a net inflow of $136.5 million, while FBTC posted a net outflow of $4.2 million.

1 minutes ago

Polymarket’s probability of the CLARITY Act passing this year has fallen to 32%, hitting an all-time low.

As the U.S. Senate remains deadlocked over the CLARITY Act, prediction market Polymarket has slashed the probability of the bill being passed by the end of 2026 to 32%, the lowest level since the platform launched in January this year. Data shows this probability has dropped by roughly 30 percentage points from the market’s launch, and plummeted sharply from the 82% peak hit in February this year. Market participants believe that with the Senate’s legislative schedule tightening and bipartisan support still unachieved, the likelihood of the bill passing this year continues to decline. Reports indicate that the biggest sticking point right now is that the two parties have yet to reach an agreement on ethics provisions related to conflicts of interest for government officials involving digital assets. Democratic Senator Ruben Gallego previously stated clearly that he would not support the bill in Senate votes if it does not include the bipartisan-backed ethics provisions. The CLARITY Act aims to establish a regulatory framework for the U.S. digital asset market and clarify the jurisdictional boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Multiple industry stakeholders testified at a House of Representatives hearing that the bill would help end "regulation by enforcement" and provide long-term, stable regulatory rules for the digital asset sector. As the U.S. Congress heads into its August recess, market expectations for the bill to be enacted into law this year are continuing to cool.

1 minutes ago

An address linked to the Ondo team transferred 26.05 million ONDO tokens to Coinbase, worth approximately $9.79 million.

According to monitoring by crypto analytics account Ai Yi, an address linked to the Ondo team transferred 26.05 million ONDO tokens to Coinbase, worth approximately $9.79 million. The address received 150 million ONDO from the Ondo team’s multi-sig address on June 23, held the tokens for nearly a month, and transferred a portion to Coinbase 11 hours ago. The operation follows a similar pattern to prior moves: team address transfer → address holding → transfer to exchange platform, though the specific purpose of this action remains unclear.

1 minutes ago

Claude Fable 5 will not be discontinued, and has officially remained in the premium subscription tier.

Anthropic announced that Claude Fable 5 will be officially included in its Max and Team Premium plans starting July 20. Users can allocate up to 50% of their plan credits to Fable 5, with no temporary deadline imposed. Pro and Team Standard users will still need to access Fable 5 on a pay-as-you-go basis, and Anthropic will grant these users a one-time $100 credit. When Fable 5 launched, Anthropic only committed to offering free access to the model until June 22. The model was later suspended due to U.S. export controls; after resuming on July 1, the plan access window was extended from July 7 to July 12, then to July 19. Anthropic has consistently stated that demand is unpredictable, requiring gradual increases in computing power. This timing is hard not to link to Kimi K3, which has recently matched or surpassed Fable 5 in multiple programming and agent benchmarks, with some tasks even outperforming it. Competitive pressure may have accelerated Anthropic’s decision, though no direct evidence exists to confirm this.

1 minutes ago

Alibaba releases Miaowu Team Edition, an enterprise-level AI application creation platform.

At the 2026 World Artificial Intelligence Conference (WAIC), Alibaba unveiled Meoo Team, the enterprise team edition of its Miaowu enterprise-grade AI application creation platform. Its core capabilities include unified identity management, unified procurement and quota control, fine-grained permission management, and team asset sharing, among others. Meoo Team is designed to address key challenges enterprises face in AI creation, such as resource coordination, permission allocation, and asset ownership, while enhancing collaboration efficiency for teams across e-commerce, content creation, product operations, marketing, finance, education, and other fields.

1 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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Table of contents

Binance will open spot trading for Aerodrome Finance’s AERO token at 19:00 UTC+8 on July 17, pairing the asset with USDT, USDC, and the Turkish lira. The exchange is applying its Seed Tag to AERO from the outset, the original report from WuBlockchain confirmed, marking the world’s largest crypto venue’s first direct listing of a Base-native decentralized exchange token.

The listing comes while deposits will only open an hour after trading begins, and withdrawals are scheduled for 19:00 UTC+8 on July 18. That sequencing tends to create a period where early price action relies on existing off-exchange supply, often triggering volatility before the full market can rebalance. For AERO, that could mean a sharp initial move before selling pressure from depositors kicks in.

Why Aerodrome Matters for Base Aerodrome is the central liquidity engine on Base, the Layer 2 network incubated by Coinbase. The protocol uses AERO to reward liquidity providers and to operate its vote-lock governance model, giving users a direct stake in directing emissions. In practice, it functions as a DeFi hub where trading, incentives, and protocol control are tightly bundled, making it critical infrastructure for Base’s on-chain economy.

Binance’s decision to list a token so closely tied to a single L2 says more about Base’s institutional profile than about Aerodrome alone. Base has quietly accumulated over $1 billion in total value locked, and Aerodrome captures the bulk of that decentralized trading volume. Giving AERO a direct USDT, USDC, and fiat on-ramp could funnel retail and even some institutional flow into the ecosystem, something that previously required bridging and swapping via other assets. It’s a liquidity upgrade, not just a token listing.

The Seed Tag Warning Binance applies its Seed Tag to tokens considered high-risk, often because of low liquidity, short track records, or early-stage project volatility. Traders are required to pass periodic quizzes to maintain access to these assets, and the exchange reserves the right to delist without the usual notice period. In AERO’s case, the tag arrives simultaneously with the listing, a signal that while the token is welcome on the platform, Binance is not endorsing it as a stable holding.

What this means for market structure is a split between speculative access and formal hedging. Institutional desks that operate on Binance may treat a Seed Tag token as uninvestable until it matures into a regular listing, limiting order book depth from larger players. Meanwhile, retail traders in Turkey—where the TRY pair opens direct lira access—could face the double edge of high volatility and a fiat on-ramp that doesn’t require stablecoins. That combination has sometimes accelerated local flows in past emerging-market pair launches.

Liquidity, Risk, and What Comes Next Exchange listings remain a powerful short-term catalyst in crypto, but the post-listing trajectory depends heavily on whether new capital enters the protocol. AERO’s price will be tested against the reality that liquidity providers can sell rewards, and governance stakers may unlock large positions. If the listing brings sustained volume to Aerodrome’s pools, the protocol and the token could reinforce each other. If not, the Seed Tag may quickly become a secondary concern next to price action.

The broader picture includes a DeFi environment where real-world asset tokenization on-chain has crossed $20 billion, as recent on-chain data suggests, and where specific tokens have surged on institutional staking narratives after exchange support—a pattern visible in the SUI price run earlier this year. AERO sits inside that same macro current, but with a much sharper risk profile given its single-chain dependency and the Seed Tag’s cautionary framing.

What remains uncertain is whether Binance will eventually remove the tag if Aerodrome proves resilient, and whether other major exchanges follow with their own AERO pairs. For now, the listing gives the Base DeFi scene its most direct bridge to centralized exchange liquidity, but leaves traders to decide how much weight to give the warning label hanging over the trade.

AUTHOR

Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.

OKX Europe has launched a one-way conversion feature allowing customers to deposit USDT and convert it into USDC, offering a regulated migration path as the European Union’s Markets in Crypto-Assets (MiCA) rules limit support for the world’s largest stablecoin.

According to a company announcement shared with Cointelegraph, the feature lets customers deposit Tether’s USDt (USDT) into their OKX Europe account and convert the tokens into USDC (USDC), one of the largest stablecoins available under the European Union’s MiCA framework.

Tether has not obtained authorization to issue USDT under MiCA, prompting many European platforms to restrict deposits, delist trading pairs or convert customer balances into compliant alternatives as the European Union completed the framework’s rollout on July 1.

OKX Europe said the feature is designed for customers whose existing platforms no longer accept USDT or plan to migrate their balances automatically. The exchange said conversions can be completed at the customer’s discretion rather than through a platform-imposed deadline.

The move comes even as USDT remains the dominant stablecoin globally. According to DefiLlama, Tether accounts for about 59% of the nearly $310 billion stablecoin market, with a market capitalization of roughly $184 billion, compared with about $73 billion for Circle’s USDC.

OKX Europe serves customers across 30 EU and European Economic Area countries under its MiCA license.

Source: DefiLlama

Why did Tether reject MiCA?Tether has defended its decision not to seek MiCA authorization for USDT, even as the move prompted many European crypto platforms to delist or restrict the stablecoin. Since the EU’s regulatory framework began taking effect in late 2024, exchanges across the region have been shifting users toward MiCA-compliant alternatives.

Tether CEO Paolo Ardoino has repeatedly criticized MiCA, arguing its reserve requirements create unnecessary risks for stablecoin issuers by requiring a portion of reserves to be held with European credit institutions. 

In a May 2025 interview with Cointelegraph, Ardoino described the framework as “very dangerous when it comes to stablecoins,” saying Tether chose not to pursue authorization despite the likelihood that USDT would lose support on European exchanges.

The company has shown little sign of changing course. In a July 2025 post on X, Ardoino said Tether would reconsider seeking MiCA authorization only “when MiCA becomes safer for consumers and stablecoin issuers.”

Source: Paolo Ardoino

Recently, digital banking platform Revolut said it will stop supporting USDT for customers in the European Economic Area and Switzerland, giving users until Aug. 31 to sell or withdraw their holdings before automatically converting any remaining balances into their base currency.

Magazine: The British Virgin Islands are a top crypto hub no one ever talks about: Here’s why

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Venice AI updates its token economics: introduces a buyback mechanism and raises the supply cap for DIEM.

Venice AI has issued an announcement updating its token economics, with two primary changes: First, a new programmed burn mechanism: For every $100 worth of API credits purchased, $5 will be allocated to buy VVV on the open market and permanently burn the tokens. Second, DIEM’s supply target has been raised for the first time, from 38,000 to 40,000 (an increase of 2,000 units). The adjustment will be rolled out in phases, with the full target expected to be achieved by September 14.

40 minutes ago

Trump Media Company prices exclusive early access to Trump’s posts at $100,000 per month.

According to the Financial Times, Trump Media & Technology Group is pitching a $100,000 monthly service to clients that delivers fast access to former President Donald Trump’s posts. Earlier reports noted that Trump Media would sell premium, faster access to posts on its Truth Social platform; the new service allows traders and investors to pay for real-time pushes of Truth Social content. This data feed service will launch next month for institutional clients, including high-frequency algorithmic trading firms.

40 minutes ago

Cardano will hand over control of its core software to an external team starting in August.

Cardano developer Input Output will transfer control of key blockchain components—including Haskell nodes, the Plutus platform, and the Daedalus wallet—to external professional teams starting in August, as part of its multi-year decentralization initiative. Independent firms such as Se7en Labs and Teragone will oversee portions of the core infrastructure. At least three Cardano implementations will be maintained in Haskell, Rust, and Go, under community oversight and formal specification management. Cardano is currently grappling with weak network activity and a sharp drop in the ADA token’s price. Founder Charles Hoskinson framed the restructuring and ecosystem-related setbacks as necessary "growing pains" on the path to full decentralization.

40 minutes ago

France blocks prediction market Polymarket.

French gambling regulator ANJ announced on July 17 that Polymarket’s website will be blocked in France, following its November 2024 ban on financial transactions with the platform. The ANJ stated that the site’s ongoing operation—with real-time updated odds for various events—qualifies as advertising. Even after banning French accounts from conducting trades on Polymarket, accesses to the platform from French internet addresses have continued to rise, reaching 578,751 visits in June.

40 minutes ago

Meta is in talks with Anthropic over a computing power leasing agreement, with the potential deal valued at up to $10 billion.

According to The New York Times, Meta Platforms is in talks with Anthropic over a computing power leasing agreement, with the potential deal size reaching up to $10 billion for a two-year term. The negotiations remain in the early stages. Additionally, market data from BIT (bit.com) shows Meta's share decline has narrowed to 3%.

40 minutes ago

Serenity: Its investment portfolio has posted a nearly 50% drawdown this month, and it firmly believes that the current round of adjustment is merely leverage-driven volatility, with its growth logic remaining intact.

Serenity posted a statement noting that their portfolio suffered a 49.4% drawdown this month, with main holdings concentrated in AI bottleneck sectors including memory, photonics, robotics, and upstream semiconductors. Serenity acknowledged pressure from the short-term market crash, but maintained that the volatility stems from liquidity and leverage rather than a breakdown in the structural growth logic of these fields.

40 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Circle, the creator of the popular stablecoin USDC, and Fireblocks, a leading provider of digital asset custody and management solutions, are collaborating to advance the adoption of stablecoins in institutional finance. Their joint efforts aim to address major challenges hindering the use of blockchain-based settlements among businesses and financial institutions, particularly in areas like compliance, governance, and international security standards.

Stablecoin transaction volume increases rapidlyRecent figures show that stablecoin activity in global payments has climbed sharply. In 2025, stablecoins recorded $33 trillion in transaction volume, reflecting a 72% year-over-year increase. For the first time in early 2026, stablecoin settlements on a monthly basis outpaced ACH transactions, signaling a significant shift in the financial sector toward blockchain-based payments.

Fireblocks reported that stablecoins have become the predominant digital assets on its platform, making up 69% of all digital asset trades processed. USDC, developed by Circle and pegged to the US dollar, emerged as the most transacted stablecoin within the Fireblocks network this year, overtaking industry giant USDT in popularity among institutional users.

Stablecoins now represent nearly 70% of digital asset trades on Fireblocks, with USDC becoming the top choice for institutional transfers and settlements across multiple blockchains.

Despite the rise in adoption, many companies face operational hurdles when integrating stablecoins into their treasury and payment workflows. Key challenges include managing liquidity, securing funds for gas expenses on various blockchains, performing reconciliations, and complying with regulatory screening processes.

While stablecoins allow payment providers to reduce their reliance on traditional correspondent banking systems, organizations still need to address requirements such as sanctions compliance during cross-border transfers.

Mini dictionary: Fireblocks, a digital asset custody and transfer platform, offers secure infrastructure for businesses and institutions to move, store, and manage digital assets across multiple blockchains.

Circle Gateway offers multi-chain USDC managementAddressing these operational complexities, Circle has launched the Circle Gateway, now integrated with Fireblocks. This solution enables businesses to hold and manage their USDC balances across all supported blockchains in a single virtual wallet, instead of juggling multiple liquidity pools on different networks.

With Gateway, companies consolidate USDC operations, eliminating the need for individual gas fees on destination chains and removing dependencies on external liquidity bridges. This innovation simplifies internal processes and reduces operational risks and costs.

Through the Circle Payments Network (CPN), companies can achieve near-instant settlement of USDC into various fiat currencies, supporting payments in over 50 countries. The network connects banks, payment processors, and virtual asset providers, streamlining global payments and reducing bottlenecks associated with the legacy correspondent banking system.

FeatureTraditional Correspondent BankingCircle Gateway + CPNSettlement SpeedSeveral hours to daysAlmost instantCurrency CoverageLimited, slower onboarding50+ countries supportedLiquidity ComplexityMultiple liquidity poolsSingle virtual walletGas Fee DependencyNot applicableEliminatedSanctions ComplianceIntegrated but slowerFully supportedGrowing demand for enterprise-scale stablecoin solutionsIndustry analysts suggest that the future of stablecoins will focus on expanding scalability and integrating robust security and compliance guardrails. As more enterprises adopt on-chain payment and treasury systems, they are increasingly seeking solutions that combine the speed and transparency of blockchain with the risk controls demanded by the corporate sector.

The current integration between Circle and Fireblocks signals a broader shift: stablecoins are evolving from basic trading tools to critical financial infrastructure. Their ongoing development is expected to further drive adoption among traditional institutions, provided that compliance requirements and operational efficiency continue to improve.

Stablecoins are no longer limited to trading—they are becoming core components of global payment systems and treasury operations for institutions.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Circle has integrated its Gateway and Circle Payments Network with Fireblocks, giving institutional customers new ways to manage USDC across blockchains and settle cross-border payments. 

Summary

Circle and Fireblocks integrate Gateway and CPN, giving institutions USDC settlement across multiple blockchain networks. Fireblocks customers can use unified USDC balances and send local fiat payouts across 50-plus countries. Stablecoins account for 69% of Fireblocks transaction volume, showing growing institutional demand for digital settlement. The services are now available directly through Fireblocks’ existing infrastructure, including its transaction controls, approval systems and audit records.

The integration targets trading firms, neobanks and payments companies that use stablecoins for treasury operations and international settlement. According to Fireblocks, stablecoins accounted for 69% of all digital asset transaction volume on its platform during the second quarter of 2026. The company also said USDC became its leading stablecoin earlier this year.

Circle Gateway allows institutions to maintain one virtual USDC balance across supported networks instead of keeping separate pools on each blockchain. Funds can move to supported chains when required, while incoming USDC can automatically return to the unified balance. Fireblocks said the system also reduces the need to hold separate gas tokens for destination networks. 

Circle Payments Network connects USDC with local fiat payouts The second part of the integration brings Circle Payments Network, or CPN, into the Fireblocks Network for Payments. Customers can send USDC and route payments to recipients who receive local fiat currency through supported providers in more than 50 countries. The companies said settlement can take minutes rather than relying on multi-day correspondent banking processes. 

Circle 🤝 @FireblocksHQ

Gateway and Circle Payments Network are now accessible through Fireblocks, helping institutions manage USDC operations with the policy controls, approvals, and audit trails they already use.

→ Unified USDC balances across supported chains with Gateway… pic.twitter.com/JPEZoF9Hdd

— Circle (@circle) July 16, 2026 Meanwhile, Fireblocks will apply its existing policy controls to Gateway transfers and CPN payouts. These include transaction approvals, counterparty lists, sanctions screening and Travel Rule processes. The aim is to let institutions use stablecoin payment rails without building a separate control system for each network or payment corridor.

The rollout builds on a partnership Circle and Fireblocks announced in September 2025. At the time, the companies said Fireblocks customers would gain access to Circle products, including Gateway and CPN, as financial institutions increased their use of stablecoins for payments and treasury operations.

As crypto.news previously reported, Circle expanded CPN in April with Managed Payments, a service designed to let banks and fintech companies use USDC-based settlement without directly managing digital assets or blockchain infrastructure. That service handles parts of the stablecoin process while participating institutions continue sending and receiving fiat currency.

Moreover, Circle added Nium to CPN in May, connecting USDC settlement with payout infrastructure spanning more than 190 countries and 100 currencies. The Fireblocks integration now adds another institutional access point to the network.

Fireblocks said stablecoin transaction volume reached $33 trillion across the wider market in 2025, up 72% year over year. With Gateway and CPN now available inside its platform, customers can manage cross-chain USDC liquidity and fiat payouts under the same operating and compliance controls they already use for other digital asset transactions.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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The "Big Short" Michael Burry: Now an excellent time to bottom-fish Hong Kong stocks

The Big Short protagonist Michael Burry said today that with the appeal of South Korean and Japanese markets and the SOXX semiconductor sector waning, now is an ideal time to turn to the Hong Kong market to seek undervalued stocks. He believes some low-valued Hong Kong stocks are poised to perform well once capital flows shift away from South Korea, Japan and the semiconductor sector.

15 minutes ago

US stock futures fall, with intensified selling pressure on semiconductor stocks driving investors to shift to other sectors.

U.S. stock index futures fell, with selling pressure on semiconductor stocks intensifying, prompting investors to seek investment opportunities in other market segments. Nasdaq 100 futures dropped more than 2%, while S&P 500 futures fell over 1%. Nvidia (NVDA.O) led losses among the "Magnificent Seven" in pre-market trading, and the Philadelphia Semiconductor Index is nearing a bear market and set to extend Thursday’s declines. However, even though the S&P 500 closed 0.5% lower on Thursday, 369 of its constituent stocks advanced and 132 declined, indicating the market’s overall breadth remains healthy. Barclays strategist Venu Krishna stated, "Enthusiasm for AI capital expenditure is starting to cool, but the semiconductor sector still significantly outperforms the broader market in stock price performance, while software stocks continue to lag. This shows recent market rotation is gradual rather than decisive." (Jinshi)

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OKX.AI Genesis Hackathon Extended to July 28

Official announcement: The OKX.AI Genesis Hackathon has seen rising developer enthusiasm since its launch. To give builders more time to refine and deploy Agent Service Providers (ASP), the submission deadline has been extended to July 28 at 7:59 (UTC+8). Participants can continue to submit their works via the OKX.AI official website and post project introductions on X. OKX.AI is an economic system built specifically for Agents. The Genesis Hackathon features a total prize pool of $100,000, aiming to encourage developers to build ASP that solve real-world needs and drive the implementation of the Agent economy.

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Binance to list SPCXUSD1 perpetual contract

According to an official announcement, Binance will launch the SPCXUSD1 perpetual contract at 17:00 (GMT+8) on July 20, 2026, with a maximum leverage of 25x.

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Nasdaq 100 Index futures decline widened to 2%

According to market data from BIT (bit.com), Nasdaq 100 index futures extended their decline to 2%, and S&P 500 index futures fell 1%. (Jinshi Data)

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A crypto whale has accumulated another 20,000 HYPE tokens, bringing its total HYPE holdings to 220,000 since June 11.

According to on-chain analyst Ai Yi (Twitter handle @ai_9684xtpa), the whale/entity with wallet address 0x008…E295f — which had accumulated a total of 200,000 HYPE tokens in June — has withdrawn 20,000 HYPE tokens from an exchange again after a 4-week interval, worth roughly $1.18 million. Since June 11, this address has withdrawn a total of 220,000 HYPE tokens from exchanges, totaling around $14.85 million, at an average withdrawal price of $67.51, and currently holds an unrealized loss of approximately $1.945 million.

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DeFiTuna, a decentralized finance protocol built on Solana, disclosed that an attacker drained $580,000 from its lending pools on July 16. The exploit left a matching deficit in the platform’s USDC lending pool.

The team says it quickly identified and mitigated the attack vector. Recovery efforts and a deeper investigation into the exploit are underway, though the protocol has not yet detailed how, or whether, affected users will be made whole.

What happened and what we know so far DeFiTuna operates as an automated market maker with native lending features, concentrated liquidity, and support for leveraged positions. Users deposit assets into pools, other users borrow against them, and everyone earns yield based on how much of the pool is being utilized.

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The attacker extracted $580K from those pools, specifically impacting the USDC side of the ledger. That created an immediate deficit, meaning the pool’s liabilities now exceed its assets by that amount.

DeFiTuna confirmed that the exploit pathway has been closed. What remains unclear is the precise mechanism of the exploit. The team hasn’t elaborated publicly, which is understandable during an active investigation.

User reactions on social media centered on two questions: will depositors absorb the loss, and why wasn’t this caught during audits? Both remain unanswered.

DeFiTuna’s background and the trust question DeFiTuna’s feature set combines AMM functionality with lending and leveraged trading. The protocol’s native token, $TUNA, is used for staking and revenue sharing, giving holders a claim on ecosystem fees. The lending pools offer variable APY based on utilization rates.

Back in February 2025, the protocol returned investments it had received from Kelsier Ventures following a scandal involving that firm.

What this means for DeFi investors For DeFiTuna depositors, the immediate concern is whether the USDC pool deficit will be covered. There are a few ways this typically plays out: the protocol can use treasury funds to backstop the loss, socialize the deficit across all depositors, or attempt to recover funds from the attacker.

The team’s next public communication will be critical. Investors will be watching for a detailed post-mortem explaining exactly what went wrong, a concrete plan for addressing the USDC deficit, and evidence that the remaining contracts have been re-audited or formally verified.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

For decades, posting margin for derivatives trades meant wiring dollars through a system that still operates on banker’s hours. Marex Group, a publicly traded clearing firm on NASDAQ under the ticker MRX, just made that process look a little antiquated.

On July 16, Marex announced that clients can now use USDC, the regulated stablecoin issued by Circle, as initial margin collateral for US derivatives clearing. The integration runs through Coinbase Prime, which handles custody, instant fiat-to-USDC conversion, and the reporting infrastructure that keeps the whole thing compliant. The inaugural transaction was executed by Prime Trading, LLC, a Chicago-based proprietary trading firm that posted USDC as margin, which Marex then converted to cash to facilitate its trading positions.

How it actually works The Marex and Coinbase setup replaces a chunk of that friction with blockchain rails. USDC moves 24/7 at internet speed, meaning collateral can be posted, adjusted, or withdrawn at any hour, not just during US banking windows.

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In practice, a client holds USDC in a Coinbase Prime account. When margin is needed, the stablecoin is transferred into a segregated, CFTC-compliant environment that Marex manages for clearing operations. Coinbase provides bespoke reporting aligned with Marex’s clearing requirements, essentially acting as the bridge between the crypto-native asset and the regulatory framework that governs futures markets.

The regulatory green light In December 2025, the Commodity Futures Trading Commission issued a no-action letter that effectively permitted the use of stablecoins as margin collateral in derivatives clearing. That letter didn’t change the law, but it told clearing firms and their regulators: go ahead, we won’t pursue enforcement action if you do this within the right guardrails.

The fact that USDC was the stablecoin of choice matters too. It’s fully reserved, meaning every token is backed by cash and short-duration US Treasuries held in segregated accounts. That reserve structure is what makes it palatable to regulators and clearinghouses that need to know the collateral is actually worth what it claims to be.

What this means for institutional markets The most immediate benefit is operational. Firms that trade across time zones or in products linked to 24/7 markets can now manage margin without waiting for a wire to settle.

For Coinbase, the partnership extends its institutional infrastructure play beyond pure crypto trading. Acting as the custody and conversion layer for a regulated derivatives clearing workflow positions Coinbase as a bridge between digital assets and traditional financial market infrastructure.

The risk to watch is regulatory durability. No-action letters can be rescinded, and if a stablecoin used as margin were to depeg during a volatile session, the ensuing mess would give regulators plenty of reason to reconsider.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.