Paxos Error Mints 300T PYUSD
Paxos mistakenly minted 300 trillion PYUSD due to an internal error but swiftly corrected it by burning excess tokens. No funds were affected. #Update #Crypto
Stablecoin
Ethereum Sees $300 Trillion Surge Then Vanishes
On Oct. 15, @Paxos accidentally minted $300 trillion PYUSD tokens on Ethereum due to an operational error, leading to a surge in social media mentions; no user funds were affected. #Update #Crypto $PYUSD
Stablecoin Issuers Attracted by BlackRock Fund
@BlackRock has restructured its fund, now called the BlackRock Select Treasury Based Liquidity Fund, to target stablecoin issuers, investing in U.S. Treasury bonds and overnight repos. #Update #Crypto $USDC
Circle Dominates U.S. Stablecoin Regulations
@Circle’s USDC market cap is projected to reach $220 billion by 2027, benefiting from new U.S. stablecoin regulations as the global market could hit $4 trillion by 2035. #Update #Crypto $USDC
Stripe’s Bridge Seeks National Bank Charter
@Bridge, acquired by @Stripe, applied for a national bank trust charter with the OCC to enhance its stablecoin services, joining a surge of issuers seeking federal oversight. #Update #Crypto $USDC
Stablecoins Launch Tied To G7 Currencies
A consortium of major banks, including @BankofAmerica, @Citi, and @DeutscheBank, will explore stablecoins pegged to G7 currencies following US President Trump’s endorsement of the sector. #Update #Crypto $USDT
Stablecoin Acquisition Talks Hit $2.5B
@Coinbase and @Mastercard are in advanced talks to acquire BVNK for $1.5B-$2.5B, potentially reshaping stablecoin payments. The deal could be the largest of its kind. #Update #Crypto $USDC
Stablecoin Launches as North Dakota’s Second Token
North Dakota is launching Roughrider Coin, a state-backed stablecoin for interbank transactions, in collaboration with @BankofND and @Fiserv. It follows Wyoming’s Frontier Stable Token. #Update #Crypto $USDC
Stablecoin JupUSD Launches with Ethena Jupiter
@EthenaLabs and @Jupiter are set to launch JupUSD, a US dollar-backed stablecoin on Solana, in Q4 2025, converting $750 million in USDC to enhance DeFi services. #Update #Crypto $USDC
Stablecoin Launches in North Dakota with Fiserv
The Bank of North Dakota is launching “Roughrider Coin,” a U.S. dollar-backed stablecoin in partnership with @Fiserv, aimed at enhancing bank transactions and merchant adoption, set for release next year. #Update #Crypto $USDT
Stablecoin Transfers Surge Over $6 Billion
Russian-controlled cryptocurrency operations have executed transactions exceeding $6.1 billion using the stablecoin $A7A5 since U.S. sanctions in August, involving significant token destruction to evade restrictions. #Update #Crypto $A7A5
Stablecoin Needs Stronger Attestation Reports
The USD1 stablecoin from @WorldLibertyFin has not updated its monthly attestation reports since July, raising transparency concerns as it competes with $USDC and Tether. #Update #Crypto $USDT
Stablecoin Market Cap Surges Past $300 Billion
Stablecoin market capitalization has surpassed $300 billion for the first time, with $USDT holding 58.4% market share and $USDC gaining due to U.S. regulatory clarity. #Update #Crypto $USDT $USDC
Visa Launches Pre-Funded Stablecoins for Payments
@Visa is launching a pre-funding pilot using stablecoins via Visa Direct for cross-border payments, allowing businesses faster access to liquidity without needing large fiat reserves. #Update #Crypto $USDC