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1024EX, an on-chain crypto trading platform, has announced support for $USDC deposits on two more networks. 1024EX now supports $USDC deposits on Ethereum and Base blockchain networks. As per 1024EX’s official social media announcement, these deposits are live now. Moreover, $USDC withdrawals on Base, Solana, and Ethereum are already live. The update highlights 1024EX’s plan to make stablecoin transfers less fragmented and more rapid.

1024EX now supports USDC deposits via Base and Ethereum.

Withdrawals are available via Base, Ethereum, and Solana.

Coming soon: TRON support.

More chains. Smoother deposits. Easier withdrawals.

— 1024EX (@1024EX) June 27, 2026 Supporting USDC deposits on Ethereum and Base is highly important for any crypto platform and its users. It improves user experience, boosts platform competitiveness, and supports broader stablecoin adoption.

How USDC Deposits on Base and Ethereum Can Improve User Experience The launch of the $USDC deposits on Base and Ethereum permits 1024EX to improve the user experience. Base enables fast finality as well as low-fee transactions. At the same time, Ethereum provides comprehensive liquidity as well as wide wallet compatibility. Keeping this in view, the rollout provides traders with two additional ways for account funding via $USDC without depending on a single blockchain. Additionally, the $USDC deposit support minimizes congestion risk when it comes to increased network activity.

Coming to withdrawals, 1024EX users are permitted to withdraw capital via Solana, Base, and Ethereum. Withdrawals support on Solana is of great importance because Solana delivers a high-throughput option for minimal fees and sub-second settlement. This benefits consumers who look for funds transfers to other platforms, DeFi protocols, or wallets quickly.

1024EX Targets TRON as Next Integration for Wider Access In addition to this, the platform has also unveiled plans to support the TRON network to further facilitate its users. The potential inclusion of TRON would broaden 1024EX’s access to consumers who focus on minimal network fees in the case of $USDC transactions. Ultimately, this development gives consumers more control over $USDC withdrawals and deposits.

To sum up, 1024EX considers this 3-chain withdrawal framework as a key move to let consumers pick ecosystem compatibility, cost, or speed in line with their individual requirements. 

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

New Wallet Deposits 630,000 USDC to HyperLiquid, Opens 2.9 Million XRP Short with 10x Leverage

Polymarket said it successfully contained a security breach after discovering a third-party vendor had been compromised on Thursday morning.

Polymarket Refunding ‘Users In Full’Polymarket Traders, an X handle with an official Polymarket Traders badge, first disclosed that the breach injected a “malicious script” into the frontend for some users.

“We’ve contained it & removed the affected dependency. We’re contacting impacted users & refunding them in full,” Polymarket Traders said.

Polymarket’s Growth Lead, William LeGate, confirmed the hack and the refund process. Benzinga reached out to Polymarket for more details on the breach.

On-Chain Sleuths Point To Millions In TheftBlockchain analytics platform Bubblemaps said that the attacker drained nearly $3 million from under 15 wallets, although the damage has been “largely contained.”

“Great response by Polymarket,” the on-chain sleuth added.

Specter, another on-chain investigator, stated that the victim wallets held PUSD, a collateral token backed by USDC (CRYPTO: USDC) used for all trading on Polymarket.The stolen assets were then swapped for Ethereum (CRYPTO: ETH) and consolidated into a single address.

Polymarket On Hackers’ Radar?The latest security breach comes barely a month after Polymarket revealed that the wallet its employees used to top up accounts and pay user rewards had been hacked. On-chain analysts estimate the exploit at close to $700,000.

Photo: PJ McDonnell / Shutterstock

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PANews, June 26 – Tether-backed Hyperliquid mobile interface and non-custodial trading platform Dreamcash announced it will gradually shut down its CASH perpetual contract markets based on Hyperliquid HIP-3, citing that USDC is now natively integrated on the platform, placing USDT markets at a user experience disadvantage. According to the announcement, all CASH markets will be settled sequentially on a preset schedule between June 30 and July 2, with positions automatically closed at external oracle prices upon settlement, and funding rates will be set to 0 during this period. Dreamcash emphasized that the platform uses a non-custodial architecture, so user account balances and rewards will not be affected; only the relevant USDT-denominated underlying perpetual markets (such as TSLA, NVDA, GOLD, etc.) will cease trading. The team will subsequently focus on developing and promoting its crypto trading mobile application.

PANews June 26 news, USDC announced on X that USDC privacy features are now live on Starknet, enabled by STRK20 — Starknet's privacy feature for ERC-20 tokens with built-in compliance capabilities. Users can shield, send, and unshield USDC while maintaining privacy of balances, amounts, and counterparty information on the public ledger. USDC remains a USD-denominated stablecoin, and the new privacy features are suitable for payments, fund flows, payroll, and on-chain financial activities on Starknet.

PANews June 25 news, according to The Block, Kraken has partnered with decentralized lending platform Maple to launch the first fully on-chain digital asset loan warehouse facility, providing USDC liquidity for its OTC lending business for institutional and high-net-worth clients. Maple funds the facility through a revolving financing vehicle similar to traditional asset-backed securities (ABS) and establishes a bankruptcy-remote SPV structure to protect asset safety. Kraken acts as loan originator, servicer, and subordinate capital provider bearing first loss, while its Wyoming SPDI institution, Kraken Financial, holds the collateral assets.

Key Highlights Table of Contents

Key HighlightsCRCL Shares Rebound on Strategic Japan ExpansionNomura Collaboration Focuses on Real-Time Currency ExchangeJapan Strengthens Digital Currency Regulatory FrameworkGet 3 Free Stock Ebooks Circle (CRCL) stock gains momentum following Nomura collaboration announcement for Japan market. Partnership aims to deliver instant foreign exchange settlement infrastructure by 2027. USDC stablecoin technology positioned to reduce cross-border transaction times for Japanese businesses. Nomura Securities to oversee client relations and regulatory compliance locally. Japan’s progressive stablecoin framework enables institutional blockchain integration. Shares of Circle Internet Group experienced a pre-market rally as the digital currency firm progressed with its strategic entry into the Japanese market. CRCL climbed 1.67% to reach $72.17 during early trading, recovering from a 6.21% decline that brought the stock to $70.98 in the prior session. Market enthusiasm grew following confirmation of a stablecoin-based settlement collaboration with financial giant Nomura.

Circle Internet Group, CRCL

CRCL Shares Rebound on Strategic Japan Expansion Circle’s stock demonstrated resilience as investors evaluated the firm’s expanding footprint in Japan’s foreign exchange infrastructure. This collaboration represents a significant opportunity to integrate Circle’s stablecoin technology into high-value corporate payment channels and global trade transactions. The initiative reinforces the company’s competitive standing within compliant digital payment ecosystems.

Circle maintains USDC, the globe’s second-most valuable dollar-pegged stablecoin measured by total market capitalization. Businesses leverage USDC across multiple functions including payment processing, digital asset trading, treasury management, and blockchain-enabled financial clearing. Circle’s growth trajectory centers on collaborations with licensed financial entities to broaden stablecoin adoption internationally.

The firm’s market penetration strategy emphasizes alliances with banking institutions, cryptocurrency platforms, and payment service providers. Circle delivers the underlying USDC infrastructure, while regional collaborators manage customer relationships, regulatory adherence, and fiat currency exchanges. Consequently, this framework enables Circle to access strictly regulated territories through trusted financial intermediaries.

Nomura Collaboration Focuses on Real-Time Currency Exchange Circle and Nomura are working toward launching their foreign exchange settlement platform in Japan’s commercial market by early 2027. Circle will supply the USDC blockchain payment infrastructure, whereas Nomura Securities will handle corporate customer engagement and compliance obligations. The platform will primarily serve trade financing needs, international investment flows, and substantial cross-border remittances.

The envisioned system would enable businesses to transform Japanese yen into USDC tokens before transmitting value across blockchain networks. A designated financial intermediary would subsequently exchange the stablecoins into destination currencies. Such transactions could potentially execute within minutes rather than spanning multiple business days.

Conventional correspondent banking networks frequently introduce delays as financial institutions navigate disparate technological systems, operational schedules, and geographic time differences. Blockchain-powered settlement mechanisms could eliminate these bottlenecks while minimizing counterparty risk associated with large-value transfers. Nevertheless, both organizations must upgrade operational infrastructure and obtain necessary regulatory permissions before commercial deployment.

Japan Strengthens Digital Currency Regulatory Framework Circle initially accessed the Japanese market through strategic partnerships that aligned USDC operations with domestic stablecoin legislation. These arrangements established compliant pathways for digital payment execution, transaction settlement, and enterprise treasury applications. The Nomura initiative represents an expansion of this regulatory foundation into corporate currency exchange services.

Nomura has conducted multiple blockchain technology pilots focused on institutional financial applications and securities processing. Earlier experiments encompassed government bond collateralization and stablecoin-facilitated securities clearing mechanisms. This new partnership advances Nomura toward operational blockchain-based settlement offerings.

Japan administers stablecoin operations under its Payment Services Act, restricting issuance authority to authorized financial service providers. Regulatory authorities have additionally explored incorporating digital assets under frameworks governing conventional financial instruments. These regulatory developments may facilitate expanded institutional participation while preserving rigorous supervision of digital asset operations.

MiCA is the European Union’s first comprehensive rulebook for crypto, and on July 1, 2026, its transition period ends for good. This guide explains what MiCA does, why USDT got delisted while USDC did not, and what the hard deadline means for exchanges and users.

Summary

MiCA becomes fully enforceable across the European Union on July 1, 2026, after which crypto firms without a MiCA license can no longer legally serve EU users. The regulation introduced a single framework for crypto across all EU member states, with strict rules for stablecoins, exchanges, and other crypto service providers. MiCA compliance kept USDC listed on regulated European exchanges, while USDT was delisted after its issuer chose not to seek authorization. Table of Contents

What MiCA actually regulatesThe stablecoin rules and why USDT got delistedCASPs: the rules for exchanges and service providersThe July 2026 deadline and the great narrowingA worked example: what a token and an exchange each faceWhat MiCA leaves unsettledMiCA in the global pictureWhat it means for everyday usersFrequently Asked Questions MiCA, short for Markets in Crypto-Assets, is the European Union’s first comprehensive law governing crypto-assets and the companies that deal in them, creating one common rulebook across all twenty-seven member states in place of the patchwork of national approaches that came before. Formally known as Regulation (EU) 2023/1114, it entered into force in mid-2023 and has rolled out in phases ever since, and it now sits at a decisive moment: on July 1, 2026, the transition period that let existing crypto firms keep operating under old national rules expires for good, and Europe’s market supervisor has been blunt that there will be no extensions. 

After that date, any company offering crypto services to European Union clients without a proper MiCA license is simply breaking the law. This guide explains what MiCA is, the categories it creates, why some stablecoins survived in Europe while others were delisted, what a crypto company must do to comply, and what the hard 2026 deadline means for exchanges and ordinary users alike.

The significance of MiCA is hard to overstate, because the European Union is one of the largest economic blocs on earth and MiCA is the most ambitious attempt yet to bring crypto fully inside a traditional financial-regulation framework. Before MiCA, a crypto exchange or token issuer operating in Europe faced a confusing mix of national rules, with one regime in Germany, another in France, another in Malta, and gaps everywhere in between. 

MiCA replaces that fragmentation with a single, harmonized system: get authorized once, and you can passport your services across the entire bloc. The trade-off is that the bar to get authorized is high, the obligations are heavy, and the deadline to clear them is now days away rather than years off. The result is a market being reshaped in real time, with a small number of licensed winners, a large number of firms facing exit, and a stablecoin landscape that already looks very different inside Europe than outside it.

What MiCA actually regulates MiCA divides the crypto world into categories and applies different rules to each, so the first step in understanding it is learning what those categories are. At the top level, MiCA governs two kinds of actors: the issuers of crypto-assets and the providers of crypto-asset services. For issuers, MiCA sorts tokens into three buckets.

The first is electronic money tokens, or EMTs, which are stablecoins pegged to a single official currency, such as a euro-pegged or dollar-pegged coin. The second is asset-referenced tokens, or ARTs, which are stablecoins backed by a basket of things, multiple currencies, commodities, or other assets, rather than a single currency. The third is a catch-all category of other crypto-assets, which covers utility tokens, governance tokens, and unbacked cryptocurrencies like Bitcoin and Ether, the assets most exchanges handle every day.

Each bucket carries different obligations. The two stablecoin categories face the strictest treatment, because regulators view stablecoins as the part of crypto most capable of threatening the wider financial system, a concern sharpened by the 2022 collapse of the TerraUSD algorithmic stablecoin that wiped out tens of billions of dollars. EMT and ART issuers must hold proper reserves, grant holders redemption rights, and meet governance and disclosure standards. 

The other crypto-assets face lighter rules, mainly requirements to publish an honest whitepaper before offering a token to the public and to avoid market abuse. Notably, MiCA largely excludes non-fungible tokens, unless they are issued in a large fungible series that makes them function more like ordinary tokens, and it excludes assets already covered by existing financial law, such as securities. The category a token falls into determines almost everything about how MiCA treats it, which is why getting the classification right is the starting point for any issuer.

The stablecoin rules and why USDT got delisted The most visible effect of MiCA so far has been on stablecoins, and the clearest way to understand the rules is through what happened to the two largest dollar stablecoins. Under MiCA, a stablecoin can only be offered by European Union-regulated platforms if its issuer is authorized, which for a single-currency stablecoin means holding an e-money or credit institution license and meeting MiCA’s reserve, redemption, and governance requirements. 

The reserve rules are strict: an EMT must back its tokens fully, holding one hundred percent of reserves in safe, segregated accounts, while an ART must keep at least a substantial portion segregated at regulated credit institutions. MiCA also bars stablecoin issuers from paying interest or yield to holders, a deliberate choice to stop stablecoins from competing with bank deposits and drawing money out of the banking system.

This is where the two giants diverged. Circle, the issuer of USDC, pursued authorization through a European subsidiary and obtained MiCA approval for USDC and its euro stablecoin EURC, making them compliant and freely offered across European Union exchanges. Tether, the issuer of USDT, the largest stablecoin in the world, did not apply for MiCA authorization and confirmed its token was not compliant. The consequence was swift: major European Union-regulated exchanges, including the regional arms of the largest global platforms, delisted USDT and other non-compliant stablecoins for their European users. 

The nuance worth understanding is that USDT is not banned from existence in Europe; users can still hold it in self-custody and trade it on decentralized exchanges. What changed is that a MiCA-licensed exchange can no longer offer it, which fragments liquidity and pushes European users toward compliant alternatives like USDC. Every stablecoin authorized under MiCA so far has been an EMT, a single-currency token, and USDC’s compliance versus USDT’s non-compliance has become the textbook illustration of the rules in action.

CASPs: the rules for exchanges and service providers Beyond token issuers, MiCA’s other major target is the companies that provide crypto services, which the regulation calls crypto-asset service providers, or CASPs. This category is broad: it covers exchanges, brokers, custodians, wallet providers that hold customer assets, trading platforms, and firms that advise on or place crypto-assets. 

If your business touches customer crypto in almost any commercial way, you likely need a CASP authorization to keep serving European Union clients. The obligations that come with that authorization are extensive and closely mirror those imposed on traditional financial firms, which is the entire point: MiCA aims to make crypto service providers behave like regulated financial institutions rather than lightly governed startups.

A CASP must meet requirements covering customer identity verification and anti-money-laundering controls, the safekeeping and segregation of customer assets, governance and capital standards, market-conduct rules that prohibit insider trading and market manipulation, and clear disclosure of risks to customers. Authorized CASPs also become subject to the European Union’s operational-resilience framework, which mandates cybersecurity and incident-reporting standards, and to the crypto travel rule, which requires them to pass along sender and recipient information on transfers, the same obligation that has applied to bank wires for decades. 

The reward for shouldering all of this is passporting: once a firm is authorized in any one member state, it can offer its services across all twenty-seven without seeking separate licenses in each, turning a fragmented continent into a single market. The burden is that running these programs at scale, across a global customer base, is expensive and demanding, which is exactly why so many firms are struggling to clear the bar before the deadline.

The July 2026 deadline and the great narrowing Everything about MiCA now points toward a single date, and understanding the phased rollout explains why that date matters so much. MiCA did not arrive all at once. The stablecoin rules for EMTs and ARTs took effect in mid-2024. The full CASP authorization regime took effect at the end of 2024, the point from which firms needed a MiCA license to operate. 

But MiCA included a grandfathering provision, a transition period that let firms already operating legally under their national rules continue doing so while they applied for full MiCA authorization. Member states set their own transition windows within the limits MiCA allowed, ranging from short windows ending in 2025 to the full eighteen-month period ending on July 1, 2026. That final date is the bloc-wide cutoff, the moment the transition ends everywhere at once.

What makes the deadline dramatic is how few firms have actually cleared the bar. As the cutoff approached in 2026, roughly a couple of hundred firms held some form of full MiCA authorization across the entire union, but the number cleared to run an actual crypto trading platform was strikingly small, in the low double digits, with a number of member states having issued zero trading-platform licenses at all. Industry executives openly warned that a large majority of exchanges currently operating may fail to secure a license and be forced to exit the European market, and reports emerged of major global exchanges facing rejection in specific countries. 

Europe’s market supervisor reinforced the message with no room for ambiguity: no member state may extend the transition beyond July 1, 2026, and after that date, operating without authorization is a breach of European Union law, not a paperwork gap. The picture, then, is of a great narrowing, a market being compressed from a crowded field into a small set of licensed survivors, with the rest required to wind down their European operations or leave.

A worked example: what a token and an exchange each face To make the rules concrete, it helps to walk through how MiCA treats two typical cases, a stablecoin issuer and an exchange, because the abstract categories become much clearer in motion. Imagine a company issuing a euro-pegged stablecoin and wanting European users to hold and trade it on regulated platforms. 

Under MiCA, that token is an electronic money token, so the issuer must hold an e-money or credit institution license, back every token fully with reserves held in safe, segregated accounts, grant holders the right to redeem their tokens for the underlying currency on demand, publish a compliant whitepaper, and accept that it cannot pay holders any interest or yield. If the company does all of this and secures authorization, its stablecoin can be offered across the bloc; if it does not, regulated exchanges must refuse to list it, exactly the fork in the road that separated the compliant dollar stablecoin from the non-compliant one. The token’s fate under MiCA is decided entirely by whether its issuer accepts this package of obligations.

Now imagine an exchange that wants to keep serving European customers. Its path runs through CASP authorization. It must apply to a national regulator in some member state, prove it meets MiCA’s standards for governance, capital, and the safekeeping and segregation of customer assets, stand up the identity-verification and anti-money-laundering machinery that turns it into an obliged entity under European law, implement the travel rule so it passes sender and recipient information on transfers, meet the operational-resilience and cybersecurity requirements, and submit to ongoing supervision and market-conduct rules. If the regulator grants authorization, the exchange can passport that single license across all twenty-seven member states and operate bloc-wide. 

If it cannot meet the bar or applies too late, it must stop serving European Union clients once the transition ends, winding down in an orderly way. The two journeys share a logic: MiCA offers a single, valuable prize, legal access to the entire European market, in exchange for accepting obligations modeled on those that govern banks and regulated financial firms.

What this worked example reveals is the deeper character of MiCA. It is not a light-touch registration that lets crypto firms keep operating much as before with a new label. It is a serious authorization regime that demands real reserves, real controls, real segregation of customer money, and real accountability, and it forces every issuer and service provider to decide whether the prize of European market access is worth the cost of meeting those demands. 

For well-resourced firms with a long-term commitment to Europe, the answer is often yes, and they have built the compliance machinery to clear the bar. For many smaller or offshore operators, the cost is too high or the timeline too short, which is why the market is narrowing toward a smaller set of licensed survivors. The categories and rules described earlier are not bureaucratic abstractions; they are the concrete hurdles that decide, token by token and firm by firm, who gets to operate in Europe after the transition closes.

What MiCA leaves unsettled For all its ambition, MiCA leaves important questions open, and the gaps are as revealing as the rules. The largest unsettled area is decentralized finance. MiCA is built around identifiable issuers and service providers, the companies it can authorize and supervise, but a genuinely decentralized protocol has no company at its center, no firm to hold a license or answer to a regulator. MiCA states that fully decentralized arrangements, those provided without any intermediary, fall outside its scope, which sounds clean until you ask what “fully decentralized” actually means. 

The market supervisor has not yet defined the term precisely, and most real protocols sit somewhere in the middle, with a governance token, a development team, a foundation, or a front-end operator that a regulator might decide counts as an intermediary. The result is genuine uncertainty about which DeFi protocols MiCA captures and which it does not, a gap that will be filled by future guidance and enforcement instead of the text itself.

Other tensions are surfacing as the rules meet reality. MiCA places caps on how widely very large stablecoins denominated in non-European currencies, such as dollar stablecoins, can be used as a means of payment within the bloc, a provision aimed at protecting European monetary sovereignty but one that complicates life for a market where most trading is dollar-denominated. 

There are overlaps with other European financial laws, such as payment services rules, that can double the compliance burden for some stablecoin activities and have prompted worries about the competitiveness of euro stablecoins. And politically, the dossier has grown charged, with some member states floating the idea of a mechanism to switch off foreign stablecoins seen as a systemic threat. 

None of these unsettled questions undermines MiCA’s core achievement of creating a single framework, but they are reminders that a law this sweeping cannot anticipate everything, and that MiCA will keep evolving through guidance, enforcement, and amendment for years after the headline deadline passes.

MiCA in the global picture MiCA does not exist in isolation, and seeing it alongside parallel efforts elsewhere reveals where global crypto regulation is heading. The same years that produced MiCA also produced the United States’ first comprehensive federal stablecoin law, the United Kingdom’s move toward its own crypto regime under its financial regulator, and Hong Kong’s stablecoin ordinance, among others. 

These frameworks differ in detail, but they converge on a striking number of core principles: stablecoin issuers should hold full, high-quality reserves; they should be licensed and supervised; holders should have clear redemption rights; service providers should enforce identity checks and anti-money-laundering controls; and the whole apparatus should be brought inside the regulatory perimeter that governs traditional finance. MiCA, having arrived early and comprehensively, has functioned as something of a reference point that later frameworks echo and respond to.

This convergence matters for anyone trying to understand the trajectory of the industry. The era in which crypto operated in a regulatory vacuum, where an exchange could serve a global audience with minimal oversight, is closing, and MiCA is one of the clearest markers of that shift. The picture that emerges is of a maturing market in which access increasingly depends on compliance, in which the same stablecoin can be freely available in one jurisdiction and delisted in another based purely on its issuer’s regulatory posture, and in which the cost of operating legally has risen sharply. 

For Europe specifically, MiCA’s promise is a safer, more transparent market with clear rules and a public register of authorized firms and tokens that anyone can consult. Its cost is a heavier compliance burden, a narrower field of providers, and reduced access to some popular global assets. Whether that trade favors consumers or stifles innovation is the live debate, but the direction is set: in Europe, crypto is now a regulated activity, and after July 1, 2026, that is true without exception.

What it means for everyday users For an ordinary person using crypto in Europe, MiCA changes the landscape in concrete ways worth understanding before the deadline instead of after. The most immediate effect is on which platforms and tokens you can use. If you rely on an exchange that has not secured a MiCA license, that platform may be forced to stop serving European Union clients after July 1, 2026, which in practice can mean frozen new deposits, halted trading features, and eventually a forced withdrawal of your funds, sometimes during a period of low liquidity and high fees. The protective move is to check, today instead of on July 2, whether the platforms you use have secured or are clearly on track to secure authorization, and to favor those that have. An unauthorized service operating after the deadline offers reduced legal protection and potential restrictions on access to your own assets.

The second effect is on stablecoins. If you hold a non-compliant stablecoin on a European Union-regulated exchange, you may find it delisted, with trading pairs removed and liquidity drying up, which is why many European users have shifted toward MiCA-authorized options. You can still self-custody whatever you like, but the convenient on-ramps and trading pairs increasingly favor compliant tokens. The broader takeaway is that MiCA, for all its complexity, ultimately aims to make the European crypto market safer and more transparent for users by ensuring the exchanges they trust meet real standards and the stablecoins they hold are genuinely backed. The cost of that safety is fewer choices and more friction, and a transition period that, for some platforms and tokens, ends abruptly. 

The practical wisdom is simple: understand which of your platforms and assets are compliant, make any moves before the deadline instead of during the disruption, and treat MiCA authorization as a meaningful signal that a service has accepted real regulatory accountability.

Frequently Asked Questions What does MiCA stand for and what is it? MiCA stands for Markets in Crypto-Assets. It is the European Union’s first comprehensive law for crypto-assets and the companies that deal in them, formally Regulation (EU) 2023/1114. It replaces the previous patchwork of national rules with one harmonized framework across all twenty-seven member states, covering token issuers and service providers like exchanges, custodians, and wallet providers. Its goals are to protect consumers, prevent market abuse, ensure stablecoins are properly backed, and bring crypto inside the same kind of regulatory perimeter that governs traditional finance, while letting authorized firms operate bloc-wide.

Why was USDT delisted in Europe but not USDC? Under MiCA, a stablecoin can only be offered by European Union-regulated platforms if its issuer is authorized and meets MiCA’s reserve, redemption, and governance rules. Circle pursued authorization through a European subsidiary and obtained MiCA approval for USDC and its euro stablecoin EURC, so they remain available. Tether did not apply for MiCA authorization and confirmed USDT was non-compliant, so European Union-regulated exchanges delisted it. USDT is not banned outright; it can still be self-custodied and traded on decentralized exchanges, but licensed European platforms can no longer offer it.

What happens on July 1, 2026? That is when MiCA’s transition period ends across the entire European Union. The transition, or grandfathering, let firms already operating under national rules keep going while they applied for full MiCA authorization. After July 1, 2026, any company providing crypto services to European Union clients without a proper MiCA license is breaking European Union law. The market supervisor has stated there will be no extensions. Because relatively few firms have secured licenses, especially to run trading platforms, many exchanges may be forced to exit the European market or wind down their services there.

What is a CASP under MiCA? A CASP is a crypto-asset service provider, MiCA’s term for companies that offer crypto services such as exchanges, brokers, custodians, wallet providers holding customer assets, and trading platforms. To serve European Union clients, a CASP needs MiCA authorization, which comes with obligations modeled on traditional finance: identity checks and anti-money-laundering controls, segregation and safekeeping of customer assets, governance and capital standards, market-conduct rules against manipulation and insider trading, operational-resilience requirements, and the crypto travel rule. Once authorized in one member state, a CASP can passport its services across all twenty-seven.

Does MiCA regulate DeFi and NFTs? Only partly, and with significant uncertainty. MiCA largely excludes non-fungible tokens unless they are issued in a large fungible series that makes them behave like ordinary tokens. For decentralized finance, MiCA says fully decentralized arrangements provided without any intermediary fall outside its scope, but it has not precisely defined “fully decentralized.” Since most protocols have a governance token, a development team, a foundation, or a front-end operator, regulators may decide some of them have an intermediary that MiCA captures. So the treatment of many DeFi protocols remains unsettled and will be clarified through future guidance and enforcement.

How does MiCA affect ordinary crypto users in Europe? Mainly through which platforms and tokens you can use. If an exchange you use has not secured a MiCA license, it may have to stop serving European Union clients after July 1, 2026, which can mean halted deposits and trading and eventually forced withdrawals. Non-compliant stablecoins may be delisted from regulated exchanges, with liquidity shifting to compliant ones like USDC. The protective steps are to check whether your platforms are authorized, move before the deadline instead of during any disruption, and treat MiCA authorization as a signal that a service has accepted real regulatory accountability. You can still self-custody assets freely.

This article is educational information, not legal or financial advice. MiCA implementation, license counts, stablecoin compliance status, and deadlines can change, and details reflect reporting available as of June 25, 2026. Confirm current requirements and the status of specific platforms and tokens through official sources such as the European Securities and Markets Authority register before relying on anything described here.

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TLDR: Zilliqa launches zUSDC via XBridge, shifting USDC liquidity from third-party bridges to native network infrastructure. The zUSDC contract is live at 0xe59f97Fac09ee00AEEF320485ee45D5CcfbBC1E9, supporting DEX pools and stablecoin trading pairs. Debridge support on Zilliqa permanently ends March 31, 2026, requiring all legacy USDC holders to act immediately. XBridge receives a full UI overhaul as Zilliqa works toward automated, seamless cross-chain token transfer processing. zUSDC is now live on Zilliqa through the network’s native XBridge system. This change moves USDC liquidity away from third-party bridging toward Zilliqa-operated infrastructure.

The transition is designed to improve long-term reliability and give Zilliqa direct control over stablecoin operations.

Users currently holding USDC on Zilliqa must act before March 31, 2026. After that date, Debridge support on the network will permanently end, affecting all remaining legacy USDC holders.

Zilliqa Transitions USDC Liquidity to Its Own XBridge Infrastructure zUSDC is a USDC representation bridged to Zilliqa through the network’s own XBridge system. Its contract address is 0xe59f97Fac09ee00AEEF320485ee45D5CcfbBC1E9.

The token supports stablecoin trading, DEX liquidity pool participation, and arbitrage across pairs such as kUSDC and zUSDT. Zilliqa now holds direct operational control over this stablecoin liquidity within its ecosystem.

Previously, USDC liquidity on Zilliqa depended on external bridging infrastructure from third-party operators. Most of that liquidity was concentrated in DEX pools supporting trading and arbitrage activity.

Running external infrastructure under those conditions created an operational dependency. That dependency came without proportional benefit to the broader network, making this transition a practical move for the ecosystem.

The migration followed a phased process. Existing USDC was first bridged back to Ethereum as the starting point. It was then minted as zUSDC under Zilliqa-managed infrastructure and re-bridged through XBridge.

From there, funds were redeployed into ecosystem trading pools, with each phase structured to keep disruption low throughout.

Zilliqa shared the update on its official channel, stating it was “introducing zUSDC via XBridge on Zilliqa” and that the move improves reliability while keeping “stablecoin liquidity flowing across the ecosystem.”

We’re introducing zUSDC via XBridge on Zilliqa.

This moves USDC liquidity onto Zilliqa-operated infrastructure, improving reliability while keeping stablecoin liquidity flowing across the ecosystem.

Here’s what’s changing and what it means for USDC users:… pic.twitter.com/PnvXIACWOQ

— Zilliqa (@zilliqa) March 5, 2026

As part of the Phase 3 ecosystem rollout, a zUSDC trading pair also launched on Plunderswap. Additionally, XBridge received a full UI overhaul, with the refreshed interface now available at xbridge.zilliqa.com.

Users Face March 31 Deadline as Debridge Support on Zilliqa Ends Users holding USDC on Zilliqa must bridge their assets out through Debridge before March 31, 2026. Two options are currently available for doing so.

The Plunderswap bridge widget is accessible at plunderswap.com/bridge, while the StakeZIL bridge is available at stakezil.com. Both remain operational until the sunset date arrives.

After March 31, Debridge will no longer function on Zilliqa. Users who still hold legacy USDC beyond that point will need to reach out to Zilliqa directly for assistance. The team can be contacted at [email protected] for support with any remaining holdings.

This transition does not remove stablecoin liquidity from the Zilliqa ecosystem. Rather, that liquidity is being moved to infrastructure that Zilliqa directly owns and operates.

The network frames this as a long-term step toward institutional-grade financial rails that the network itself controls.

Alongside the zUSDC launch, Zilliqa is also improving XBridge’s processing efficiency. The team is actively developing automation for bridge transaction processing.

This effort is aimed at making token transfers faster and more seamless across all chains that XBridge supports.

Binance CEO Changpeng Zhao (“CZ”) has commented on Twitter about the Department of Financial Services’ (NYDFS) directive to Paxos Trust Co. to stop minting new BUSD. As reported by the Wall Street Journal today, Paxos will continue to manage redemptions of the product.Existing BUSD’s remain fully-backed and redeemable through at least February 2024.

CZ explained that Paxos is regulated by the NYDFS and BUSD is a stablecoin wholly owned and managed by Paxos. As a result, BUSD’s market capitalization will only decrease over time.

Regarding the alleged lawsuit filed by the U.S. Securities and Exchange Commission against Paxos, the Binance CEO has no inside information, although CZ did announce product changes on Binance regarding BUSD.

Binance CEO Is Puzzled Rumors are currently circulating in the crypto community that U.S. authorities SEC and NYDFS could target stablecoins, attacking a cornerstone of the crypto ecosystem. Crypto journalist Frank Chaparro tweeted:

SEC is on an absolute warpath. […] I wouldn’t be surprised if they are reviewing USDC, specifically. One senior executive at an exchange told me a few days ago that the SEC was effectively embarking on its own crypto version of the ‘Night of the Long Knives.’

Whether the situation is really as dramatic and U.S. authorities want to put an end to stablecoins per se, remains to be seen and is not really clear at the moment.  Binance CEO Zhao, for example, said that while he is “not an expert on U.S. laws,” but agrees with Miles Deutscher’s opinion in a tweet that stablecoins cannot be a security themselves.

“The SEC has labeled BUSD as an ‘unregistered security,’ and is suing its issuer, Paxos. But how on earth is a STABLECOIN considered a security, when it clearly doesn’t meet the Howey Test criteria. No one has ever had ‘the expectation of profit’ when buying BUSD,” Deutscher wrote.

Are US Authorities Starting A War On Stablecoins? This argument will be difficult for the SEC to refute, which illustrates that the U.S. Securities and Exchange Commission may not have a problem with stablecoins per se, but with the issuers’ interest products.

This is further evidenced by the SEC suing Kraken over its interest product, which was not a “true on-chain” staking product, as Coinbase CEO Brian Armstrong explained. Another hint is that Paxos’ USDP stablecoin is not included in the announcement, and that the SEC’s crackdown on BUSD may be solely related to its deposit and interest product.

And Circle has a similar product that earns interest. Presumably that’s why the USDC issuer could come under SEC scrutiny, but not because of the stablecoin itself.

It is hard to imagine how a stablecoin can be classified as a security, otherwise the US dollar would have to be. But since Paxos and Circle operate on U.S. soil and offer interest products, they are easy targets for U.S. authorities.

Therefore, the current news and rumors must be considered carefully. Nevertheless, the attack by the U.S. authorities is of course a risk that stablecoin issuers will have to cope with.

In the long run, however, the current situation should pass and stablecoins should continue to flourish and serve as a cornerstone of the crypto ecosystem, even in the US.

At press time, Bitcoin was dragged down by the news and traded at $21,560. For the moment, BTC was able to stay above the support at $21,465 in the 1-hour chart, although the price saw a dip to a new February low at $21,429.

Bitcoin price, 1-hour chart | Source: BTCUSD on TradingView.com Featured image from Edwin Hooper / Unsplash, Chart from TradingView.com

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According to the latest on-chain data, the Layer-1 network Solana has hit a significant milestone in terms of the transfer volume of stablecoins this month.

Solana Overtakes Tron In Stablecoin Transfer Volume Data from the blockchain analytics platform Artemis shows that the stablecoin transfer volume on Solana has already surpassed $300 billion in January. This is the largest transfer volume recorded by stablecoins on the Layer-1 blockchain in a single month.

To put this figure into context, the Solana network registered $297 billion in stablecoin volume in the entire December. Meanwhile, the blockchain’s stablecoin transfer volume was about $11.56 billion in January 2023, reflecting an over 2,500% growth in the past year.

Stablecoin transfer volume across various blockchains in the past year | Source: Artemis From the chart above, it is clear that Solana’s stablecoin activity has been on a steady rise since October, increasing by more than 650% in the past few months.  This growth has also impacted the network’s share in the stablecoin market, with Solana now boasting about 32% market share.

Unsurprisingly, Ethereum leads the market for stablecoins, with its transfer volume already reaching almost $317 billion in January. Meanwhile, the Tron network trails Solana in third place, with a stablecoin volume of roughly $240 billion.

On Thursday, January 18, Paxos revealed the launch of its regulated stablecoin, USDP, on the Solana network. According to DefiLlama data, USDC remains the dominant stablecoin on the Layer-1 network, with a market cap of over $1 billion.

Paxos is thrilled to share our regulated stablecoin USDP is now live on the @solana blockchain! This integration makes it easier for anyone to access and use the safest, most reliable stablecoins in the market. Learn more here: https://t.co/0j4Kj0yyPk pic.twitter.com/1doexKvVmY

— Paxos (@Paxos) January 18, 2024

SOL Price Overview Despite Solana’s burgeoning network activity, the price performance of its native token SOL has somewhat dampened in the past few weeks. As of this writing, the Solana token is valued at $92, reflecting a 0.6% decline in the last 24 hours.

This sluggish performance in the past day underscores the altcoin’s challenges since the turn of the year. After reaching a multi-month high of $124 at the end of 2023, the SOL price has largely struggled to hold above the $100 mark.

According to data from CoinGecko, the Solana token is down by more than 5% in the past week. Meanwhile, the coin has declined by about double that figure since the beginning of 2024.

Nevertheless, SOL maintains its position as the fifth-largest cryptocurrency in the sector, with a market capitalization of more than $40 billion.

Solana price faces downward pressure on the daily timeframe | Source: SOLUSDT chart on TradingView Featured image from Dreamstime/Aivaras Sakurovas, chart from TradingView

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

The value of the stablecoin Pax Dollar (USDP), issued by the Paxos Trust Company, experienced a surge to a high of $1.28, triggering the liquidation of $529,000 in USDC for a market participant. 

Like regular stablecoins, USDP is designed to maintain a stable value equivalent to a U.S. dollar, providing a safe haven for traders against the volatility often associated with cryptocurrencies. However, the recent unexpected increase in price, spotlighted by PeckShield, has raised concerns.

The stablecoin uncharacteristically spiked to $1.2848 yesterday at 16:10 UTC before eventually witnessing a subsequent drop to its usual price of $1 four hours later. While the depeg went unnoticed by most, it had far-reaching effects on a trader’s loan position, triggering liquidations.

USDP price – April 17 | Source: Trading View The liquidation occurred on the decentralized finance (defi) platform Aave, where the trader had used USDP as collateral to secure a loan in USDC. Notably, in the defi ecosystem, loans are backed by other assets, with mechanisms in place to manage sudden shifts in market dynamics. 

On-chain data confirms that the trader lost the 529,000 USDC across sixteen uneven transactions from 16:16 to 20:09 UTC, coinciding with the period USDP lost its peg. The transaction label indicates that the liquidation process was automatically initiated by Aave’s built-in risk management algorithms.

While the USDP value spiked, the platform likely predicted a possible correction or a return to its normal pegged rate. Such a forecast can prompt preemptive liquidation to mitigate potential losses, especially if the borrower’s loan-to-value (LTV) ratio becomes unfavorable.

Issued by Paxos, USDP has faced certain setbacks in recent times, marked by occasional depegs. A 2023 research from SP Global suggested that USDP records the highest deviations from the U.S. dollar among the top stablecoins, having witnessed 7,581 mild depeg events in the 24 months leading to June 2023.

PANews reported on February 2nd that, based on recent review results, Binance will remove and cease trading the following spot trading pairs on February 3rd, 2026 at 16:00 (UTC+8):

ARKM/FDUSD, ASTR/BTC, AWE/BTC, BANANA/BNB, DYDX/BTC, EUL/FDUSD, IMX/BTC, JTO/FDUSD, KSM/BTC, LINEA/FDUSD, LINK/BNB, NEAR/ETH, NFP/BTC, PIVX/BTC, PNUT/EUR, QTUM/ETH, SCRT/BTC, SNX/BTC, STG/BTC, SYS/BTC and UTK/USDC.

Three DeFi protocols across NEAR, Base, and Sui were drained on Tuesday. One of them, a $3.46 million Sweat Economy incident, later turned out to be a foundation rescue.

Bloomberg analyst James Seyffart used the cascade to needle Crypto Twitter’s AI-versus-crypto debate. He suggested the bigger threat to digital assets is the same one as always.

Tuesday’s Drain CascadeBlockaid raised the alarm at around 1.36 p.m. UTC. Roughly 13.71 billion Sweat Economy (SWEAT) tokens, about 65% of total supply, moved through an attacker address.

🚨Community Alert: Ongoing exploit on @SweatEconomy on @NEARProtocol.

Exploiter:
3be304b2151870b2be88b9de0b80acab921337ad152584138bd852fc6e9ae018

Largest exploit tx:
DvrSMfY85Anc6AuLUmoEDkDdab7qX5NUZLu76HN8NoPn

— Blockaid (@blockaid_) April 29, 2026 On-chain analysts including former NEAR core contributor Zacodil traced the activity to an April 27 contract redeploy. The redeploy added refund_first and refund_second methods.

A single refund_second call returned 13.63 billion SWEAT, worth about $2.63 million, to 53 addresses.

Hours earlier, the Syndicate Commons bridge on Base lost 18.5 million SYND tokens worth $330,000 to $400,000. The proceeds were bridged to Ethereum.

We are investigating unusual movements in SYND tokens that may indicate a possible security issue.

We recommend avoiding provisioning any liquidity until this is resolved.

— Syndicate (@syndicateio) April 29, 2026 On Sui, Aftermath Finance paused its perpetuals protocol after losing roughly $1.14 million USDC.

Total damage is 1.14m.

We are now focused on recovery.

— Aftermath Finance (🥚, 🥚) (@AftermathFi) April 29, 2026 Seyffart Pushes Back on the AI vs Crypto FrameCrypto Twitter has spent April arguing that AI will end crypto. AI agents and AI infrastructure are absorbing the venture capital that altcoins once drew.

Attention has rotated to AI projects, leaving alts without a narrative driver. And on-chain AI agents will eventually make human-led crypto projects redundant, the more aggressive version of the thesis goes.

People are asking — Is AI the end of crypto? quipped James Seyffart, an ETF analyst at Bloomberg.

The implied point is that crypto’s chronic problem is not external competition. The same protocol-level vulnerabilities that drained SYND, USDC, and SWEAT in one afternoon are arguably the bigger threat.

Sweat Economy operates the move-to-earn ecosystem behind Sweatcoin, competing with STEPN. The token price held steady through the episode.

Sweat Economy’s X account stayed silent all day, and the team has not yet explained what vulnerability prompted the redeploy.

On June 24, SBI Group and Startale Group launched JPYSC, the country’s first trust-based yen stablecoin. The launch comes as countries and financial institutions worldwide race to build regulated stablecoin infrastructure. 

While most of the stablecoin market is dominated by dollar-backed tokens like USDT and USDC, Japan is now making a serious push for the digital yen economy.

Unlike most stablecoins, JPYSC is issued by SBI Shinsei Trust Bank, with reserves held and managed through a trust structure.

According to SBI, JPYSC is the first trust-based yen stablecoin recognized as an “electronic payment method” under Japan’s Payment Services Act.

More importantly, there are no limits on transaction size or account balances, making it suitable for large institutional transfers, tokenized asset settlements, and corporate transactions.

SBI Holdings Chairman Yoshitaka Kitao called the launch a necessary step as financial markets increasingly move on-chain.

“The transition of financial functions to on-chain is irreversible, creating payment methods that can be used on-chain is a challenge that must be addressed as quickly as possible.”

Use Cases of JPYSC Expected After Public MigrationMeanwhile, SBI and Startale are not just positioning JPYSC as another payment token. Instead, they want it to become the settlement layer for Japan’s growing tokenization market.

Planned use cases of JPYSC include:

Yen-to-dollar liquidity pools for on-chain foreign exchange markets.Lending and borrowing markets for institutional investors.Settlement of tokenized stocks, bonds, real estate, and fund shares.Business payments and merchant settlements.Cross-border remittances with lower costs and faster settlement.Large OTC transactions and institutional trading.This means that SBI wants JPYSC to become the digital version of the yen for blockchain-based finance.

Startale Group: Launch Is Just the BeginningAt launch, JPYSC can only be used within SBI VC Trade accounts and cannot yet move to external wallets.

However, Startale CEO Sota Watanabe said,

“On-chain finance is a global trend, and we recognize it as an extremely important strategic area for Japan.”

The technical infrastructure for public blockchain transfers is already complete. The remaining hurdles involve taxation rules and regulatory approvals. That matters because tokenization is rapidly expanding worldwide, while stablecoins already process trillions of dollars annually. 

With the U.S. advancing stablecoin legislation and institutions increasingly exploring tokenized assets, Japan is racing to ensure the yen remains relevant in the next generation of financial infrastructure.

Story Ends Here

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Agora’s AUSD stablecoin has roughly doubled its circulating supply on the Monad blockchain in a single week, climbing approximately 124% to reach $72.68 million.

The surge positions AUSD as the largest stablecoin on Monad, a high-performance blockchain that launched its foundation in mid-June 2026. AUSD quickly surpassed $1B in transfer volume with over 3,000 active addresses in the aftermath.

What’s driving the growth Two catalysts stand out. The first is the Monad Foundation’s launch itself, which opened the floodgates for DeFi activity on the network. The second is Pendle, which launched on Monad around June 19, rolling out AUSD yield pools that offer up to $100K in weekly rewards.

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Across all chains, AUSD’s total supply sits at roughly $181M. The Monad deployment alone now accounts for about 40% of that figure, making it the token’s single largest venue by a wide margin.

Agora’s institutional playbook AUSD is fully backed at a 1:1 ratio by US dollar reserves that include cash equivalents and Treasury securities. Those reserves are managed by VanEck and custodied at State Street.

The New York-based company initially launched AUSD on July 7, 2024, alongside a $12M seed funding round led by Dragonfly. A year later, in July 2025, Agora closed a $50M Series A led by Paradigm.

On June 23, Agora hired Tanya Denisova as head of operations. Denisova previously served as COO of Robinhood Crypto. Her role at Agora will also encompass serving as COO for a proposed National Trust Bank charter.

What this means for investors The Pendle integration is worth watching closely. Yield pools with $100K in weekly incentives are generous, but they’re also temporary by nature. Stablecoins that maintain deep liquidity without subsidies are the ones that become infrastructure.

If Agora successfully obtains a National Trust Bank charter, it would operate under a regulatory framework that most crypto-native stablecoin issuers haven’t attempted. That could unlock banking relationships, fiat on-ramp partnerships, and enterprise integrations that purely DeFi-focused competitors can’t access.

AUSD’s concentration on Monad — now 40% of total supply — means that any technical issues or liquidity crises on Monad would disproportionately affect the token’s overall health. Circle has been aggressively expanding USDC to new chains, and Tether rarely leaves a growing ecosystem uncontested for long.

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

PANews June 25 news, according to on-chain analyst Yu Jin's monitoring, whale @0xbilly cut losses and liquidated 2,409 ETH ($3.78 million) at ETH's lowest point of $1,569.5 in the early hours today, taking a loss of $220,000. These ETH were bought just one day earlier with 4 million USDC at a price of $1,660.2. In March, this whale also chased the rally and bought 7,768.5 ETH ($17.51 million) at $2,254, only to cut losses four days later with an $800,000 loss.

PANews, June 25 - According to monitoring by on-chain analyst Ai Yi, the "iron-headed bull long 120,000 ETH" added $8 million in margin early this morning, with unrealized losses now exceeding $77.047 million. The liquidation prices for the four addresses (Bit-associated entities) are $1,174.6, $1,059.1, $1,064.7, and $1,143.6, respectively, with an entry level around $2,265. Despite the heavy unrealized loss, there is still significant distance from liquidation, and over 6 million USDC remains on-chain that can be used as margin.

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

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U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

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Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

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According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.

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Key Takeaways Japan’s financial regulator has granted Ripple’s RLUSD stablecoin status as an electronic payment instrument under national payment legislation Trading access spans both institutional investors and retail participants via SBI VC Trade’s platform With approximately $1.7 billion in market capitalization, RLUSD trails significantly behind Tether’s $186 billion and Circle’s $74 billion The rollout stems from a cooperative agreement between Ripple and SBI established in August 2025 Japan’s banking giants MUFG, SMBC, and Mizuho have committed to launching their collaborative stablecoin by March 2027 Ripple’s U.S. dollar-pegged stablecoin RLUSD has officially launched in Japan following regulatory clearance from the Japan Financial Services Agency (JFSA). The regulatory body designated RLUSD as an electronic payment instrument under Japan’s Payment Services Act — a classification specifically designed for internationally issued stablecoins that comply with Japanese regulatory requirements.

We're proud to announce that Ripple USD ($RLUSD) is now officially available in Japan, following approval from the Japan Financial Services Agency (JFSA): https://t.co/5rJZBrFaIM

Through our partnership with SBI Group and @sbivc_official, $RLUSD will be accessible to both…

— Ripple (@Ripple) June 25, 2026

Japan operates one of the world’s most rigorous cryptocurrency regulatory frameworks. Securing authorization for a foreign-issued stablecoin to serve both institutional and individual investors represents a substantial regulatory achievement.

RLUSD trading is now accessible through the VCTRADE platform, operated by SBI VC Trade, the cryptocurrency division of Japan’s SBI Holdings financial conglomerate. The platform accommodates both individual traders and institutional clients.

Built on Years of Collaboration The Japanese market entry represents the culmination of an extended partnership. Ripple and SBI have maintained a collaborative relationship since 2016, focusing on cross-border payment solutions and blockchain technology development throughout Asia.

In August 2025, the partners formalized a memorandum of understanding that established the framework for this market launch. This strategic agreement laid the foundation for RLUSD’s regulatory pathway in Japan.

According to Jack McDonald, Ripple’s senior vice president overseeing stablecoin operations, RLUSD will function as “a bridge for payments, tokenization and collateral management,” connecting Japanese enterprises with international dollar-denominated liquidity pools.

Competing in a Dominated Market RLUSD entered the market in late 2024 with full backing from U.S. dollar deposits, short-dated U.S. Treasury securities, and equivalent cash holdings. The stablecoin currently maintains a market capitalization near $1.7 billion.

This represents a modest footprint compared to established competitors. Tether’s USDT commands approximately $186 billion in market valuation, while Circle’s USDC accounts for roughly $74 billion. RLUSD faces considerable ground to cover in challenging these market leaders.

RLUSD operates independently from XRP, the digital asset most closely associated with Ripple. The company has positioned RLUSD as an enterprise-oriented solution for settlement operations and tokenization — the conversion of traditional assets into blockchain-based representations.

According to CoinGecko data available at the announcement time, RLUSD recorded $116.7 million in 24-hour trading volume.

Accelerating Activity in Japan’s Stablecoin Sector Japan’s stablecoin ecosystem is experiencing rapid development. Coinciding with Ripple’s announcement, SBI Group introduced JPYSC, Japan’s inaugural trust bank-supported yen-denominated stablecoin, developed in collaboration with Singapore-based technology company Startale Group.

Japan’s three dominant financial institutions — MUFG, SMBC, and Mizuho — have separately announced intentions to commence live commercial operations using a collaboratively issued stablecoin before their fiscal year concludes in March 2027.

Regulatory authorizations like the one granted to Ripple provide RLUSD with the necessary credentials to pursue institutional opportunities in Japan. Whether this regulatory foothold translates into substantial trading volume against significantly larger competitors remains an open question.

Experts Dismantle Standard Chartered’s $1 Trillion Stablecoin Warning for Emerging Markets