Track market-moving stories before they get noisy

Hedera’s Largest Lending Protocol, Bonzo, Loses $9M in Oracle Exploit

JPMorgan Chase is testing an AI investment agent that can autonomously adjust stock and bond allocations.

JPMorgan Chase is testing AI agents that can autonomously adjust the proportion of stock and bond investments to dynamically rebalance portfolios based on changes in market conditions. Test results show that in a 20-year historical backtest, the best-performing AI model delivered an annualized return 0.7 percentage points higher than the traditional "60/40" stock-bond portfolio, while also boasting lower volatility. All 8 AI agents tested by JPMorgan achieved higher risk-adjusted returns. However, the bank noted that the results are still based on simulated tests and do not represent actual investment performance. JPMorgan also warned that large-scale adoption of AI could lead to convergence of trading strategies, increase crowded trades, and amplify market volatility under stressed conditions.

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Yangtze Memory Technologies announced its IPO advisory team, comprising a total of 31 members from CITIC Securities and China Securities Co., Ltd.

The China Securities Regulatory Commission (CSRC) official website updated the first-phase progress report on Changjiang Storage’s IPO counseling work on July 10. A total of 31 personnel from two securities firms, CITIC Securities and China Securities Construction Investment, form the counseling team. The current counseling period runs from May 19 to June 30, 2026, with work carried out via multiple methods including on-site due diligence, centralized training sessions, and targeted issue communications. The next phase of counseling will focus on two areas: First, for issues identified during the process, coordinate timely discussions between intermediaries and the company, develop standardization plans, and urge the counseled entity to fully implement rectification requirements. The working group will also continue to push the company to improve its corporate governance and internal control systems, enhancing its standardized operation level. Second, urge the company to thoroughly understand laws, regulations and rules related to issuance, listing and standardized operation, and clarify its responsibilities and obligations in areas such as information disclosure and fulfillment of commitments. (Jinshi)

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Analyst: Bitcoin may be entering the final stage of a bear market, projected to rise to $250,000 over the next two to three years.

Real Vision’s chief crypto analyst Jamie Coutts has stated that Bitcoin may be entering the late stages of its current bear market. While the bear market is not yet over, downward momentum has begun to weaken. The current BTC price is roughly 50% lower than its all-time high of $126,100 set in October 2025. Coutts described the current trend as a “typical bear market,” pointing out that Bitcoin’s volatility has fallen by around 50% compared to the previous cycle, suggesting this downturn may not be as severe as prior bear markets. However, he cautioned that all current trend indicators remain clearly bearish, and markets do not mechanically replicate historical cycles. He noted that longer-term momentum indicators are starting to show bullish divergence, signaling that negative momentum is decelerating—but this does not mean Bitcoin has technically exited the bear market. Beyond tightening global liquidity, deteriorating on-chain demand was a key factor driving Bitcoin’s earlier decline. On long-term price projections, Coutts is cautious about Bitcoin reaching $1 million by 2030; instead, he forecasts BTC will rise to $200,000–$250,000 over the next two to three years. He also warned that the Bitcoin community needs to address the potential threat of quantum computing more definitively by 2027, as major protocol upgrades could take approximately five years to complete.

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The probability that Bitcoin will rise to $70,000 this year has climbed to 79%.

Prediction market platform Polymarket now puts the probability of Bitcoin rising to $70,000 this year at 79%, up from 54% as of June 26. Additionally, the odds of Bitcoin hitting $80,000 stand at 32%, while the probability of it reaching $90,000 is 19%.

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An alleged insider address of LAB has transferred $9.15 million worth of tokens to Aster again.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a suspected insider address of LAB has transferred 10.5 million LAB tokens to Aster again. Calculated at the $0.872 price at the time of transfer, the move is worth roughly $9.15 million. This marks the address’s second transfer of LAB in the same fashion in about 22 hours. Over the past 24 hours, the address has moved a total of LAB worth approximately $18.69 million to Aster. Earlier, after the address completed the transfer last night, LAB’s price once plummeted sharply.

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US-listed ETFs' assets under management climbed to $15.6 trillion, notching a new all-time high.

The Kobeissi Letter noted that the assets under management (AUM) of U.S.-listed ETFs have climbed to a record $15.6 trillion, doubling over the past 30 months. Year-to-date, investors have allocated more than $1 trillion to U.S.-listed ETFs, nearly double the year-to-date record set in 2025. At the current pace, full-year inflows are on track to top $2 trillion for the first time, roughly 33% higher than last year’s all-time high. In June alone, U.S. ETFs pulled in around $193 billion in inflows, marking the second-highest monthly inflow on record. Demand has been concentrated in U.S. large-cap, semiconductor, AI, and South Korea-focused ETFs, with the U.S. ETF market’s growth accelerating.

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TL;DRThe fastest practical way to move USDC to Polygon is a route that settles in native USDC through Circle's CCTP, so what lands is the real Circle-issued token, not a wrapped placeholder.

Across routes USDC through CCTP automatically when that's the optimal path. No extra steps from you.

CCTP burns USDC on the source chain and mints native USDC on Polygon after Circle's attestation. No pooled liquidity to drain, and free at the protocol level.

Polygon (chain ID 137) is a supported destination on Across, and you can send USDC to Polygon from any supported chain.

Across has run billions in volume with a clean security record since 2021.

Bridge USDC to Polygon

Moving USDC to Polygon has a fast answer and a slow answer. The difference is what token shows up at the other end. Send it through a route that settles in native USDC and the Circle-issued token lands on Polygon ready to use in Aave, QuickSwap, or a Polymarket position. Send it through a route that wraps and you receive an IOU. Some chains and apps treat that as a second-class asset you then have to unwrap or swap.

Across takes the first path. When you bridge USDC to Polygon, Across routes the transfer through Circle's Cross-Chain Transfer Protocol whenever that's the optimal path, and native USDC is what arrives.

Native USDC Settles Through CCTP, Not a Wrapped IOUCCTP works by burning and minting. Your USDC is burned on the source chain, Circle issues an attestation that the burn happened, and an equivalent amount of native USDC is minted on Polygon. What you receive is canonical USDC issued by Circle, the same contract every major Polygon app already trusts. No pooled balance sits in a bridge contract waiting to be exploited, and the mechanism is free at the protocol level.

That matters more than it sounds. A wrapped bridge token is a claim against a pool. Drain the pool and the claim is worth nothing, and you find out at the worst possible moment. Native USDC carries no such dependency. It is the asset itself, minted fresh on the destination.

You don't pick the rail. The Swap API selects the optimal settlement pathway for the size and route you're moving, and for USDC into Polygon that's frequently CCTP. CCTP V2 Fast Transfer can mint ahead of source-chain finality for a small fee, which is how a large USDC transfer lands without the usual finality wait.

Bridging USDC to Polygon Takes Three StepsThe route is short because the protocol does the routing for you.

Open the Across bridge and connect your wallet on the chain your USDC is on today, whether that's Ethereum, Arbitrum, Base, Optimism, or another supported origin.

Select USDC as the token, set Polygon (chain ID 137) as the destination, and enter the amount. Across quotes the fee and the expected settlement path before you sign.

Approve and confirm. Across handles the rest, fronting funds on Polygon and reconciling in the background, so native USDC arrives in seconds rather than minutes.

You'll want a small amount of POL, the native gas token of Polygon, to transact once your USDC arrives. Bridging the USDC itself doesn't require holding POL first.

The USDC Lands in Seconds Because Across Runs on IntentsYou declare the outcome you want, native USDC on Polygon. A relayer advances the funds on the destination almost immediately, then gets reimbursed through a background settlement secured by UMA's Optimistic Oracle. On mainnet that produces fills in about two seconds. The CCTP burn-and-mint and the relayer fill work together. You get destination liquidity fast, and the canonical-USDC accounting settles underneath.

Across is built by Risk Labs, the foundation behind UMA, and is deployed across 20+ chains. It has processed billions in volume since 2021 with no protocol-level exploit.

USDC Is the Asset Polygon Runs OnUSDC is the dominant stablecoin on Polygon, and that's the practical reason native settlement matters here. The apps you're bridging into are denominated in and quote against native USDC: Aave, QuickSwap, Uniswap, Polymarket. Land wrapped and you add a conversion step before you can do anything. Land native and you're already in the asset the destination expects.

Polygon also connects to AggLayer, its cross-chain settlement layer, so native USDC on Polygon isn't a dead end. It's a starting position.

Move USDC to Polygon through Across and the token that shows up isn't a placeholder you have to translate. It's the same USDC the chain already runs on, minted on arrival, usable the second it lands.

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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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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A crypto whale bought the dip, acquiring 14,007 ETH valued at approximately $25.18 million.

According to monitoring by OnchainLens, a whale purchased 14,007 ETH at an average price of $1,798, with a total value of approximately $25.1 million.

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A crypto whale has unstaked 440.822 Bitcoin from Core DAO, valued at approximately $28.27 million.

According to monitoring by Onchain Lens, a crypto whale unlocked 440.822 BTC from Core DAO, valued at approximately $28.27 million, and transferred the funds to a new wallet within one hour.

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Yesterday, Bitcoin spot ETFs recorded a net inflow of $90.4 million, while Ethereum spot ETFs saw a net inflow of $18.4 million.

According to data from FarsideUK, Bitcoin spot ETFs posted a total net inflow of $90.4 million on July 10, with BlackRock’s IBIT seeing a net inflow of $86.8 million and VanEck’s HODL bringing in $3.6 million. Ethereum spot ETFs recorded a total net inflow of $18.4 million, of which BlackRock’s ETHA had a net inflow of $16.2 million and Fidelity’s FETH had a net inflow of $2.2 million.

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Total stablecoin supply has decreased by approximately $13.9 billion in recent months, while USDT on the Tron blockchain has hit a new high against the trend.

According to EmberCN’s monitoring, the combined circulation of the two leading stablecoins, USDT and USDC, has declined by roughly $13.9 billion amid the crypto market’s overall slump in recent months. Specifically, USDT’s circulation fell by around $7.4 billion, while USDC’s dropped approximately $6.5 billion. Still, stablecoin adoption in real-world economic scenarios remains on the rise. In the first half of this year, stablecoin real economic transaction volume (ATV) hit $8.82 trillion, nearly matching last year’s full-year all-time high of $10.8 trillion, with USDT accounting for more than half of that total. Against the backdrop of the overall contraction in stablecoin circulation, USDT’s supply on the Tron blockchain has climbed to a record high of $90.3 billion, adding some $2 billion in the past month. This indicates that the reduced stablecoin supply is primarily from the DeFi-dominated Ethereum ecosystem, while Tron continues to see steady demand growth for real use cases including cross-border transfers and payment settlements.

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Trump issues a fresh warning: If Iran attempts to assassinate him, thousands of missiles will be launched at Iran.

US President Trump: 1,000 missiles have been locked on and targeted at Iran. If the Iranian government dares to act on its threats to assassinate or attempt to assassinate the current US president—threats it has made in multiple locations around the world—thousands more missiles are on standby. I have issued orders: the US military is prepared, resolute in its will, and fully capable, and will completely destroy the entire territory of Iran within one year (extendable). (Jinshi)

8 minutes ago

Bubblemaps now supports Robinhood Chain, adding new holder distribution and whale tracking features.

According to an official announcement, on-chain data visualization and analytics platform Bubblemaps has announced support for the Robinhood Chain, which is currently in the testing phase. Users can track the distribution of token holders in real time, identify whale addresses, and reveal relationships between wallets. Additionally, users can retrieve historical data for any token, view the evolution of its holding structure, and identify hidden wallet clusters and fund flow patterns.

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Crypto giant Circle is rebuffing efforts to help scam victims, law enforcement officials say.

According to a report by the International Consortium of Investigative Journalists (ICIJ), the issuer of the USDC stablecoin is allegedly declining to cooperate in assisting scam victims recover their funds. The ICIJ report says some unnamed law enforcement officials are raising alarms due to instances of Circle refusing to freeze or recover assets suspected to have been proceeds of scams.

In a county in southeastern Wisconsin, state prosecutors recently filed a criminal complaint against Circle, alleging that the stablecoin issuer refused to comply with a warrant ordering it to recover a scam victim’s stolen assets. Circle in response argued that the complaint should be dismissed while reportedly branding it meritless.

Milwaukee County’s police detective Scott Simons says he’s witnessed over a dozen instances around the US where Circle either refused a request from law enforcement to freeze victim funds or where a court order intended to force Circle to freeze victim funds failed because it was received too late.

Additionally, New York prosecutors have also claimed in a letter to Congress that Circle failed to honor court orders seeking to reimburse victims, according to the report. The letter says,

“Circle’s motive for not assisting law enforcement becomes crystal clear: it is financially preferable to only freeze cryptocurrency deemed to have been stolen, but not return the underlying asset to law enforcement or any fraud victim, because Circle can continue to collect the interest through investment of the underlying funds.”

Key Highlights Circle Internet Group (CRCL) rallied up to 15% during Friday’s premarket session following regulatory approval from the OCC to launch a national trust bank The newly approved entity will function as Circle National Trust, offering digital asset custody services under federal banking supervision ARK Invest, led by Cathie Wood, accumulated approximately 218,000 CRCL shares just one day prior to the regulatory announcement This regulatory milestone reinforces the operational framework for USDC, Circle’s primary stablecoin product Coinbase (COIN), USDC’s co-issuer with Circle, climbed 4.6% to reach $165.80 following the news Circle Internet Group (CRCL) shares skyrocketed as much as 15% during Friday’s premarket session after receiving authorization from the U.S. Office of the Comptroller of the Currency to launch a federally chartered trust bank focused on digital assets.

Circle Internet Group, CRCL

Shares advanced to $72.34 before regular trading commenced, rebounding from Thursday’s 1.7% loss.

The newly chartered institution will be known as Circle National Trust and will do business as First National Digital Currency Bank, N.A. It will function under the direct regulatory authority of the OCC, which serves as the principal federal supervisor for nationally chartered banks.

Circle has received final OCC approval to establish First National Digital Currency Bank, N.A., a national trust bank operating as Circle National Trust.

A major U.S. regulatory milestone that strengthens USDC infrastructure through federally regulated custody, with reserve… pic.twitter.com/GtThvFV5aW

— Circle (@circle) July 10, 2026

Circle submitted its regulatory application to the OCC on June 30, 2025. The company secured preliminary approval in December 2025 before obtaining final authorization this Friday.

Circle National Trust will begin operations by providing digital asset custody solutions for Circle and its related entities. The OCC’s sanctioned business model permits the bank to subsequently extend its services to a select group of institutional clients, encompassing banks and authorized derivatives entities.

Chief Executive Officer Jeremy Allaire stated that federal supervision “establishes a new benchmark for transparency, governance, and scalability” for Circle’s operational framework and creates opportunities for financial institutions to leverage public blockchain networks with enhanced regulatory confidence.

This authorization directly bolsters USDC, Circle’s dollar-backed stablecoin, by placing its custody operations under federal banking supervision for the first time in its history.

ARK Invest’s Strategic Timing Cathie Wood’s ARK Invest acquired 217,896 CRCL shares distributed across three investment vehicles — the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Blockchain & Fintech Innovation ETF — merely 24 hours before the regulatory announcement became public.

CRCL currently represents 3.1%, 3%, and 4.3% of the holdings in each respective fund.

ARKK advanced 1.71% while ARKW appreciated 2.52% during Friday’s trading session.

Broader Cryptocurrency Market Response Coinbase (COIN), which partnered with Circle to launch USDC, appreciated 4.6% to close at $165.80 on Friday.

Bitcoin advanced 2.6% across a 24-hour period to trade at $64,385, while Ethereum increased 3%.

USDC maintains its standing as the dominant stablecoin originating from the United States. While stablecoins were initially utilized primarily for cryptocurrency trading, their adoption has expanded to include cross-border remittances and inflation protection in countries experiencing currency instability.

Circle has actively promoted the concept that stablecoins will become integral to mainstream payment systems. Recent statements from Circle leadership have highlighted emerging applications in transactions conducted by AI-powered autonomous agents.

The OCC’s authorization represents another significant milestone in Circle’s strategy to integrate with the federal banking infrastructure, providing its custody operations with the regulatory legitimacy that institutional market participants have consistently demanded.

Circle, the issuer of USDC, one of the largest stablecoins in the cryptocurrency market, has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national custodial bank.

Accordingly, Circle announced that it has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a federal deposit bank called Circle National Trust.

This development follows the conditional approval the company received approximately seven months ago. It is seen as a significant step strengthening Circle’s position in the US financial system.

Circle announced that the bank’s name is “First National Digital Currency Bank, N.A.- Circle National Trust Bank” and that it will operate under the name “Circle National Trust”.

Circle states that this approval brings USDC custody operations under federal regulation. The national custodian bank to be established under this approval will initially only provide custody services to Circle’s affiliates. This will allow Circle to manage the security and operational processes of its digital assets more effectively within its own organization.

Circle also added that the bank aims to take over the management of US dollar reserves backing the USDC stablecoin in the future.

Circle Co-Founder and CEO Jeremy Allaire said, “The OCC’s approval to establish Circle National Trust represents a decisive step toward bringing blockchain technology and digital assets to the heart of the U.S. financial system. Federal oversight of our trust bank sets a new standard for transparency, governance, and scalability for Circle’s infrastructure and paves the way for a new phase of adoption where leading financial institutions can operate on public blockchains with clarity and confidence.”

As you may recall, Circle submitted its application to the OCC last June and received conditional approval in December.

Ripple has received conditional approval from the US Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank, but has not yet received final approval.

*This is not investment advice.

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Circle just handed AI developers a gift bag: open-source starter kits that plug USDC payments directly into the AI frameworks where most agents are actually being built. The kits, now live on GitHub, target LangChain and the Claude Agent SDK, two of the most widely adopted platforms for building autonomous AI agents.

What Circle actually shipped The open-sourced Agent Stack starter kits provide ready-to-use code that connects AI agents to Circle’s infrastructure. That means developers can give their agents wallets, let them send and receive USDC, and interact with onchain services, all without building payment plumbing from scratch.

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The kits build on Circle’s broader Agent Stack, which launched on May 11, 2026. That initial release introduced several foundational components, including command-line interface utilities for developers, permissioned agent wallets with built-in access controls, and gas-free nanopayments that allow USDC transfers as small as $0.000001.

The starter kits also support x402-compatible transactions. The x402 protocol is essentially the HTTP 402 “Payment Required” status code brought to life: a machine-readable way for services to demand payment before granting access. When an AI agent hits an x402-enabled endpoint, it can autonomously decide to pay, receive the service, and move on.

Circle’s Agent Marketplace adds another layer. It functions as a discovery hub where AI agents can find and transact with other agents or services.

Why open source matters here The choice to target LangChain and the Claude Agent SDK is also telling. LangChain has become something of an industry standard for building LLM-powered applications, and Anthropic’s Claude SDK is rapidly gaining ground among enterprise developers who prioritize safety and controllability.

The bigger financial picture Circle raised $222 million through a presale of its ARC token, which valued the Arc network at $3 billion.

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

Circle has received final approval from the U.S. Office of the Comptroller of the Currency [OCC] to establish a national trust bank. This marks a major regulatory milestone as the stablecoin issuer moves another key part of its USDC infrastructure under direct federal oversight.

The approval makes Circle one of the first crypto-native firms from the OCC’s latest wave of digital asset trust bank applicants to reach the operational stage. It also signals a broader shift as U.S. regulators increasingly integrate crypto infrastructure into the existing banking framework rather than creating a separate regime for digital assets.

Circle National Trust to provide federally regulated custody The new institution, First National Digital Currency Bank, N.A., will operate as Circle National Trust under OCC supervision. According to Circle, the national trust bank will initially provide fiduciary digital asset custody services for the company and its affiliates. 

It does this while creating a pathway to offer custody services directly to a limited number of institutional clients. This includes banks and regulated financial institutions, depending on market demand.

Circle also said the charter is designed to support future management of the USDC Reserve. Thus, bringing reserve operations under federal banking oversight if implemented. 

The company described the approval as strengthening USDC’s infrastructure through federally regulated custody. It also lays the foundation for additional capabilities as the platform evolves.

Chief Executive Jeremy Allaire said the approval represents “a defining step” in bringing blockchain infrastructure into the U.S. financial system. He added that federal oversight would provide greater transparency, governance, and confidence for institutions building on public blockchains.

Approval advances latest wave of crypto trust banks The announcement also places Circle at the forefront of the OCC’s latest push to bring crypto firms into the federal banking system.

In December 2025, the OCC granted conditional approval to a group of crypto-focused national trust bank applicants, including Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. 

Circle has now progressed from conditional to final approval, allowing it to establish and operate its national trust bank under the regulator’s supervision.

The milestone reflects a broader trend in U.S. digital asset regulation, with crypto infrastructure providers increasingly seeking national trust bank charters to expand regulated custody services and strengthen institutional participation in digital assets.

What a national trust bank means Unlike a traditional commercial bank, a national trust bank does not operate as a retail lender or accept consumer deposits in the conventional sense. Instead, it specializes in fiduciary services, asset custody, and trust activities under OCC oversight.

For Circle, that structure enables the company to provide regulated digital asset custody while positioning USDC infrastructure within an established federal banking framework. 

The approval also establishes a pathway for future reserve management under OCC supervision, reinforcing Circle’s strategy to expand regulated infrastructure around its stablecoin ecosystem.

Final Summary Circle has received final OCC approval to establish Circle National Trust, moving key parts of its USDC infrastructure under direct federal banking oversight. The approval advances Circle beyond the OCC’s earlier conditional approval stage.

OUSD’s announcement sent Circle’s stock into a free fall. But how much of a threat does the new stablecoin actually pose?

Posted July 10, 2026 at 1:05 pm EST.

The stablecoin world has a new entrant and its announcement has had at least some Circle investors shaking in their britches.

Circle’s stock fell nearly 19% last week as new stablecoin company Open Standard  announced plans to launch Open USD, or OUSD, a stablecoin backed by nearly every finance giant you can think of, from BlackRock to Western Union.

It didn’t help that a report of Circle being delisted from several Russell growth indexes broke the day before. While Circle has pared some of last week’s losses, it is still trading below its price before the OUSD announcement at $66.65.

CRCL daily candle chart. Source: TradingView The market reacted poorly for a number of reasons. Open Standard’s partnerships suggest it is targeting the same market as Circle: compliant Western enterprise payments. But Open Standard, which will launch later this year and is helmed by Stripe-owned stablecoin company Bridge CEO Zach Abrams, isn’t just going after Circle’s target market; Open Standard is also trying to undercut Circle while at it 

Unlike Circle, Open Standard says it won’t charge fees on redemption and minting. In comparison, Circle charges up to 0.05% on redemptions depending on volume. Open Standard also promises to give the revenue earned on reserves to partners, less a management fee.

So is OUSD “an existential threat” to Circle, as Coin Bureau founder Nic Puckrin put it?

In the rest of this issue, subscribers get:

A critical look at how OUSD challenges the two main drivers of Circle’s business Coinbase’s role in any emerging competition Whether the consortium model just might work this time The bull, base and bear cases for Circle What investors should be watching for the clearest near-term indication of what is to come for Circle’s business.  Already a subscriber? Keep reading.

Why serious investors subscribe:

Clear thinking during macro regime changes

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The USDC issuer’s new bank will open by offering fiduciary custody for Circle and its affiliates, with management of the stablecoin’s reserves pushed to a later phase.

Posted July 10, 2026 at 2:07 pm EST.

Circle secured the last piece of federal approval it needs to establish its own bank.

Circle Internet Group won approval on Friday from the Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., which will operate as Circle National Trust.

Circle National Trust will provide fiduciary custody of digital assets for Circle and its affiliates. Under the business plan the OCC approved, the bank could later extend that service to a limited group of institutional clients, “focusing on banks and other financial institutions, such as regulated derivatives organizations.” Circle listed reserve management as a future capability.

“OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system,” Circle CEO Jeremy Allaire said in a statement. “Federal oversight of our trust bank sets a new standard for transparency, governance, and scale for Circle’s infrastructure and unlocks a new phase of adoption, where leading financial institutions can build on public blockchains with clarity and confidence.”

The charter caps a busy regulatory run for the company, which raised $1.1 billion in its 2025 stock-market debut and was an early winner from the GENIUS Act, the stablecoin law that took effect in July 2025. Circle’s filing helped open a wave of similar applications from crypto firms, though Anchorage Digital Bank had held the only such crypto charter since 2021.

Senator Elizabeth Warren has argued the OCC should not grant the charters to firms she says do not qualify under the National Bank Act.

Related Listen: Why Any DeFi Protocol ‘Lives and Dies by Its Oracle’ and How to Strengthen Them

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

Circle's new OCC-chartered trust bank gives USDC federal custody backing, sending CRCL up 10%+ as it claws back OpenUSD selloff losses.

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Circle received final approval from the OCC to create Circle National Trust, a federally regulated trust bank that will hold digital assets for USDC and could eventually help manage the assets backing it. The approval gives Circle a stronger regulatory position as competition among stablecoins grows.

What's the Scoop?The Charter: The OCC approved Circle’s application to create First National Digital Currency Bank, N.A., which will operate as Circle National Trust. Circle applied in June 2025 and received conditional approval in December 2025. The new bank will be overseen directly by the OCC, giving Circle a federal regulator for part of its USDC business.What It Does: Circle National Trust will hold digital assets for Circle and its affiliates and may later offer custody services to a small number of banks and regulated financial firms. It is also designed to eventually help manage the reserves backing USDC. That would place a key part of USDC’s operations under direct federal supervision. The charter does not mean USDC is government-insured, but it could make banks and large institutions more comfortable using it.The Stock Reaction: Circle shares rose more than 10% in early trading before giving back some of those gains. The stock had fallen roughly 20% after OpenUSD launched, as investors worried that its free minting, free redemption, and shared reserve income could hurt Circle’s business. That concern may have been overstated. USDC still accounted for ~70% of adjusted stablecoin transaction volume in the first half of 2026, compared with 25% for USDT, while firms including Standard Chartered and BNY have chosen to build on USDC. The OCC approval adds another advantage by giving Circle federal oversight that OpenUSD does not yet have.Open USD Is Coming for Circle’s Margins on Bankless

The newest major stablecoin consortium is offering businesses a better deal than Circle has. Will Circle be fazed?

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Written by David Christopher

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David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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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 Stock Climbs 15% in Pre-Market After Final OCC Approval

Source: Binance EN

This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Binance Earn is pleased to launch a promotion on Simple Earn Flexible Products for eligible users in MENAT( Excluding Jordan) Eligible users can subscribe to either USDT or USDC Flexible Products and enjoy an exclusive 30% in Bonus Tiered APR rewards for 5 days. Promotion Period: 2026-07-10 08:00 (UTC) to 2026-09-30 23:59 (UTC) Enjoy Up to 30% APR Rewards with USDT/USDC Flexible Products Only verified MENA, Pakistan & Turkey users who have never subscribed to Simple Earn Flexible or Locked Products across all tokens prior to 2026-07-10 08:00 (UTC) are eligible for this special offer. It may take up to 48 hours before newly registered users can see and subscribe to the special offer. Subscription Format: Maximum five (5) days of subscription period.* Complete subscription on a first-come, first-served basis in accordance with the terms below.Reward Payout: Bonus Tiered APR: Distributed to users’ Spot Accounts on a daily basis. The first reward will be given the day after accrual starts (two days after subscription).Real-Time APR: Accrued and directly accumulated in users’ Earn Accounts every minute. Simple Earn Flexible Products Special Offers Digital AssetDurationAPR During the Promotion PeriodPromotion PeriodMin. Subscription Limit per UserMax. Subscription Limit per UserUSDTUp to 5 Days*Tier 1 (0 - 200 USDT)Tier 2 (> 200 USDT)2026-07-10 08:00 (UTC) to 2026-09-30 23:59 (UTC)1 USDTUnlimitedReal-Time APR+30% Bonus Tiered APRReal-Time APRUSDCUp to 5 Days*Tier 1 (0 - 200 USDC)Tier 2 (> 200 USDC)2026-07-10 08:00 (UTC) to 2026-09-30 23:59 (UTC)1 USDCUnlimitedReal-Time APR+30% Bonus Tiered APRReal-Time APR Subscribe Now Terms & Conditions: Only MENA, Pakistan and Turkey users (except Jordan, Dubai Entity and BH Entity) are eligible for this Activity. These terms and conditions (“Activity Terms”) govern users’ participation in the activity above (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice.Only users who complete identity verification during the Promotion Period can qualify for rewards in the Promotion, and only master accounts qualify for Bonus Tiered APR rewards in the Promotion. Sub-accounts are not eligible to receive Bonus Tiered APR rewards. The products or features referred to above may not be available in users’ regions. Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance services in each country from which the services are accessed.Changes to the Simple Earn Rewards Rate will be published on the Platform from time to time. Please refer to Binance Simple Earn Terms & Conditions and Risk Warning for more information prior to using Simple Earn. Rewards:Real-Time APR is subject to change every minute, please refer to the respective product page(s) for accurate information. Real-Time APR rewards are accrued and directly accumulated in users’ Earn Accounts every minute.Bonus Tiered APR rewards are offered as an additional reward on top of Real-Time APR. Upon subscription, Bonus Tiered APR rewards start to accrue the next day starting from 00:00 (UTC). Rewards will start to be distributed the following day after accrual starts between 00:00 (UTC) and 08:00 (UTC) to the user’s Spot Account.Any redemption of Flexible Products made between 00:00:00 (UTC) and 00:00:00 (UTC) of the following day will stop the accrual of Bonus Tiered APR rewards on the redeemed amount for that day.Redemptions of Flexible Products will be processed starting with assets that have accrued rewards. Users can check the rewards history from the Earn History. Bonus Tiered APR rewards are calculated based on the subscribed amounts and are subject to the respective tier limit for each token. Please refer to the FAQ for more details.All users who subscribe to Simple Earn Flexible Products Special Offers will receive both Real-Time APR and Bonus Tiered APR rewards for up to 5 days during the Promotion Period.* Before the Promotion ends, users can enjoy the Special Offer within the 5-day period after the first subscription. Redemption within the 5-day period will terminate the reward accrual of the Bonus Tiered APR rewards from the redemption day. After the Promotion ends, users will only be entitled to Real-Time APR rewards. Example: New User A subscribes to USDT/USDC Flexible Products on 2026-07-21, redeems on 2026-07-24, and resubscribes on 2026-07-25. Bonus Tiered APR rewards will accrue on 2026-07-22, 2026-07-23, and 2026-07-26, and be distributed to User A on 2026-07-23, 2026-07-24, and 2026-07-27. APR rewards are distributed from Binance’s own funds, and are determined based on the assessment and evaluation of prevailing market conditions. This Promotion is not associated with the issuer of USDT or USDC in any manner.A large amount of redemption requests might delay redemption temporarily. Redemptions may resume upon return of liquidity.Users can view their Flexible Products assets by going to Assets > Earn > Simple Earn > Flexible.Redemption time for Flexible Products subscriptions: Instant.Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions.Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.Additional Promotion terms and conditions can be accessed here.There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. Thank you for your support! Binance Team 2026-07-10 USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and [email protected]. Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.

Bitcoin mining company Cango will implement a 1-for-10 share consolidation.

Cango Inc. (NYSE: CANG), a Bitcoin mining company listed on the New York Stock Exchange, announced that its board of directors has approved a 1-for-10 share consolidation in accordance with authorization from its special general meeting of shareholders held on June 24. All issued and outstanding Class A and Class B common shares will be consolidated at a ratio of 10-for-1, with each share class remaining unchanged. The consolidation will take effect at 5:00 PM ET on July 20, 2026. Class A common shares are expected to begin trading on a post-consolidation basis starting from the opening of the New York Stock Exchange on July 21, with the stock code remaining “CANG” and the CUSIP number updated to G1820C 110. Following the consolidation, the total authorized share capital will remain at $100,000, consisting of 100 million common shares with a par value of $0.001 per share. No fractional shares will be issued; fractional portions will be canceled and revert to the company’s authorized unissued shares, with no consideration provided to holders.

24 minutes ago

Israel is willing to participate in strikes against Iran and is awaiting a statement from Trump.

Israel has informed the U.S. of its willingness to join further American military operations against Iran, and is currently awaiting a decision from U.S. President Donald Trump. Sources said Israel believes the new round of U.S.-Iran military conflict could last several more days. The Israeli Air Force, air defense, and intelligence units are on high alert, with the Israel Defense Forces (IDF) maintaining close coordination with the U.S. military. (CCTV)

24 minutes ago

BlackRock transfers approximately 8,700 ETH to Coinbase Prime, valued at around $15.81 million.

According to monitoring by Onchain Lens, BlackRock transferred approximately 8,700 ETH from its wallet linked to its Ethereum spot ETF to Coinbase Prime, valued at roughly $15.81 million based on current prices.

24 minutes ago

QCP: Japan's bond market stabilization drives Bitcoin rebound to near $64,000

QCP Capital has released a new report, noting that the decline in Japanese government bond yields has eased market concerns over the unwinding of yen carry trades and capital repatriation, driving Bitcoin to rebound to around $64,000. While Middle East geopolitical risks, a stronger U.S. dollar, and the Federal Reserve’s hawkish stance continue to weigh on risk assets, Bitcoin has demonstrated some resilience in the $60,000 range. The report adds that future trends will hinge primarily on the global liquidity environment, U.S. inflation data, and the outcome of the Bank of Japan’s month-end meeting.

24 minutes ago

US crypto concept stocks rose in pre-market trading, with Circle surging nearly 8%.

According to market data from BIT (bit.com), U.S. crypto-related concept stocks advanced in pre-market trading. Circle jumped nearly 8% after the firm secured approval from the U.S. Office of the Comptroller of the Currency (OCC) to set up its national digital currency bank. Strategy rose nearly 5%, Coinbase gained over 4%, and Robinhood climbed more than 3%.

24 minutes ago

Ark Invest increased its Circle stock holdings by $13.7 million and trimmed its Robinhood positions.

Cathie Wood’s investment firm Ark Invest added to its holdings in Circle Internet Group on Thursday while offloading part of its Robinhood stake. Latest trading disclosures show Ark purchased a total of 217,896 Circle shares via its three ETFs—ARKK, ARKW, and ARKF—valued at roughly $13.7 million based on Thursday’s closing price of $63.01 per share. Separately, Ark sold 85,319 Robinhood shares worth $9.8 million.

24 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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A wave of payment-focused developments announced in June has significantly boosted Solana’s position in the digital finance ecosystem. According to Solana Payments data, Mastercard has launched seamless stablecoin settlement on the Solana network and brought Solana into its machine-centric Agent Pay initiative. These steps in payment infrastructure signal that the Solana network is gaining visibility not just in crypto transactions but also in everyday financial use cases.

Institutional payment adoption gains tractionIn South Korea, leading payment provider KG Inicis reached an agreement to explore stablecoin payments across its merchant network, which processes close to 25 trillion won per year. MoneyGram has also begun staking SOL to participate in network validation while expanding payment services to over 60 million customers worldwide. These moves underline the growing interest among major institutions in integrating Solana’s blockchain for real-world payment scenarios.

As Mastercard rolled out 24/7 stablecoin settlement on Solana, institutions like KG Inicis and MoneyGram have also begun evaluating the network for their payment services.

Digital bank Toss Bank has started pilot testing stablecoin transfers for its 15 million users. SoFiUSD grew its supply on Solana by $200 million within just five weeks. The Solana ecosystem continues to expand with new offerings like the Canadian dollar-backed CADC stablecoin and Open USD, which is supported by a consortium of major financial institutions.

The addition of subscription and allowance features to Solana means that recurring payments, payroll, and invoicing can now be executed directly on the blockchain, eliminating the need for third-party apps. The platform also highlights solutions such as international corporate banking, digital prepaid cards, and crypto-based lending products that use wallet behavior instead of traditional credit scores.

Network data points to rapid growthSince January 2025, the amount of stablecoins on the Solana network has surged by 154%, reaching $14.75 billion. Payment volume has jumped 87% compared to the same period last year. Card-based payment transactions alone have totaled $420 million. Solana’s share in the cryptocurrency payments sector climbed from 5.43% to an impressive 10.1%.

IndicatorDataStablecoin supply$14.75 billionIncrease since start of 2025154%Annual payment volume growth87%Card payment volume$420 millionMarket share5.43% → 10.1%According to Birdeye’s data from the first half of 2026, over half of Solana’s stablecoin total is made up of USDC, now spread across 7.54 million wallets. For seven consecutive weeks, Solana has ranked first among blockchains in USDC transfer volume. Birdeye is recognized as a leading crypto analysis platform for on-chain data and market tracking.

Mini glossary: Stablecoin settlement refers to the finalization of payments using digital assets that are typically pegged to fiat currencies like the dollar. USDC is a widely used, dollar-pegged stablecoin issued by Circle.

In the current week alone, the network processed 22.7 million transactions, equivalent to about one third of all USDC transaction volume. During the same period, payroll payments on Solana reached $1.6 billion, with peer-to-peer transfers among retail users totaling $803 million.

Key technical levels in focus for SOLAnalyst Celal Kucuker notes that SOL’s price continues to demonstrate resilience and retains its upward potential. He highlights the $77 level as a critical support zone, marking the intersection of previous price action and important Fibonacci retracement points.

Celal Kucuker assesses that if SOL breaks above the descending monthly trend established at the start of 2025, resistance areas at $145 and $188 may come into play.

Should SOL maintain its position above the downward trendline, the $145 and $188 levels are likely to emerge as the next resistance points. However, if the support is lost, the current bullish scenario may weaken, possibly delaying broader upward momentum in the market.

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.

The Ethereum Foundation's Protocol Support Team has been disbanded.

The Ethereum Foundation’s Protocol Support Team (EF Protocol Support) announced on X that the team has been disbanded. The group was primarily responsible for coordinating Ethereum protocol development, including organizing and coordinating core developer meetings, tracking Ethereum network upgrades, supporting EIP advancement, and operating the Ethereum protocol.

7 minutes ago

Security firm: Large number of scam tokens detected on Robinhood Chain

Security protocol Relay Protocol has issued a warning that a large number of scam tokens have emerged on the newly launched Robinhood Chain, putting investors at risk of total loss of funds after purchase. Relay Protocol confirmed it has received multiple user reports stating that after buying certain tokens, the assets immediately vanished from their wallets and cannot be sold or transferred. These honeypot tokens are restricted via smart contract code, allowing buys but blocking sales, leading to permanent locking of investors’ funds. The surge in scam tokens has coincided with the recent explosive growth in user activity and token creation volume on Robinhood Chain.

7 minutes ago

OKX to list Solstice (SLX) spot trading

According to official announcements, OKX will launch spot trading for Solstice (SLX) at 20:00 on July 10. Users can start depositing assets at 10:00 the same day, pre-place orders for SLX/USDT between 19:00 and 20:00, and withdrawals will open at 22:00.

7 minutes ago

The AI arms race has driven record bond issuance by tech giants, with six major tech companies issuing $182 billion in investment-grade bonds this year.

The Kobeissi Letter noted in a post that the AI arms race is driving large technology companies to borrow at record levels. Data shows that since the start of 2026, Amazon, Alphabet, Nvidia, Meta, Oracle, and SpaceX have issued a record $182 billion in investment-grade bonds, a 1,300% jump from roughly $13 billion in the same period of 2025. These six firms account for nearly 15% of total U.S. corporate bond issuance so far this year, and contribute over 50% of the growth in this year’s corporate bond market. Meanwhile, the U.S. market has seen a record seven bond transactions worth $25 billion or more, matching the total number of such deals between 2019 and 2025. Six of these seven large bond deals came from the aforementioned six companies, with the remaining one from Salesforce. AI-related capital demand is reshaping the corporate bond market.

7 minutes ago

MiniMax Founder: Will No Longer Draw a Salary, Allocates 5% of Personal Company Shares for Team Incentives and Open-Source Support

MiniMax founder and CEO Yan Junjie has released an internal all-staff letter addressing recent market volatility, stressing the company’s long-term direction remains unchanged. In the letter, Yan announced that effective immediately, he will forgo all salary from the company until the day MiniMax achieves AGI. Over the next four years, he will allocate 4% of his personal shareholding in the firm to incentivize team members who have long stood by the company and co-created value. Additionally, he will set aside 1% of his shares to establish a special fund to continuously support the development of relevant open-source communities. (Jinshi)

7 minutes ago

South Korea’s KOSPI index climbed more than 4% intraday, with Samsung Electronics surging over 5%.

According to Bitget data, South Korea’s KOSPI index rose 4.52% intraday, now standing at 7596.58 points. In terms of individual stocks, SK Hynix gained 2.6% and Samsung Electronics increased by over 5%.

7 minutes ago

DECRYPT: Circle Contests Criminal Case in Wisconsin Over Failure to Return Stolen USDC to Scam Victim

Circle, the issuer of the USDC stablecoin, is under increasing legal scrutiny in Wisconsin. Prosecutors accuse the company of defying a court order aimed at returning crypto assets allegedly stolen through fraud back to their rightful owner.

381000 USDC at the center of a fraud allegationAccording to court documents, a Wisconsin resident was manipulated by an online scammer to convert their life savings into approximately 381000 USDC, which was then transferred to a fake investment platform. Authorities later traced the movement of these funds and requested that Circle intervene to restrict activity on the stolen assets.

Prosecutors say Circle did freeze the targeted funds after the initial court order. However, the company reportedly failed to comply with a subsequent ruling, which demanded that the frozen tokens be invalidated and that an equivalent sum be reissued to law enforcement so the victim could be reimbursed.

Wisconsin prosecutor Thomas Binger explained that authorities’ tools are often outpaced by the techniques used by criminals, admitting investigators usually only identify stolen crypto once it has already become inaccessible.

Circle has requested that the case be dismissed. The company argues that the complaint lacks merit and asserts that it neither has the technical ability nor a clearly defined legal obligation to perform the actions demanded by the court.

The debate over stablecoin issuers’ responsibilities growsThis dispute has reignited the broader debate over how law enforcement can respond to a wave of crypto frauds and cyberattacks. With stablecoins like USDC, transactions can be settled in seconds, making it difficult for authorities to act in time. This speed complicates the intervention process when funds are stolen or fraudulently seized.

Glossary: A stablecoin is a cryptocurrency type usually pegged to an asset like the US dollar. Issuers can technically freeze, burn, or reissue tokens in circulation, but how and whether this happens depends on company policies and the legal framework.

Recently, prosecutors in New York also took steps against Circle, citing unfulfilled requests to freeze or return stolen USDC. These cases highlight the differences in how various crypto companies respond to similar law enforcement requests.

The Tether precedent and new debates for the industryTether, the world’s largest stablecoin issuer, has announced that it has frozen about $4.7 billion linked to illegal activity. The company also reported more than $1.1 billion was restored through procedures involving burning and reissuing tokens.

Several blockchain analysts have suggested that Circle could adopt a similar mechanism. However, it remains unclear whether the company will choose to take such action in this case.

The verdict in this lawsuit could set a precedent regarding whether stablecoin issuers’ responsibility ends with freezing stolen assets or whether they are also required to take additional measures to make victims whole.

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.

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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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.

This site is protected by reCAPTCHA.