TRON surged past dips in mid-2024 to achieve a record-breaking USDT transfer volume in November as stablecoin demand grew globally. The TRON blockchain has achieved a remarkable feat, processing $587.2 billion in USDT transfers during November 2024. This all-time high (ATH) reflects significant growth compared to $424.4 billion in September...
USDC Stablecoin Issuer Circle Announces Layoffs Amid Operational Review
Less than 6% of Circle's workforce has been slashed following a review of its operations. Circle Internet Financial Ltd., the company behind the second-largest stablecoin in the cryptocurrency market USDC, announced layoffs following a routine operational assessment. According to the Bloomberg report, the job cuts impact under 6% of the...
Stablecoins Remain 1% of US Money Supply, FX Market but Experts Predict 10x Growth
Report forecasts stablecoins growing from 1% to 10% of US M2 and FX, spurred by advancing regulatory clarity With a current market cap of less than $200 billion, stablecoins represent a tiny fraction of global financial transactions – just 1% of US money supply and foreign exchange operations. However, a...
Global Stablecoin Supply Hits New All-Time High
USDT alone accounts for 69% of the global stablecoin supply, having reached a market cap of over $133 billion. The global stablecoin supply has hit new highs, with Tether (USDT) and USD Coin (USDC) dominating the sector. According to a Bloomberg report citing data from DefiLlama, the market capitalization of...
Cantor Fitzgerald to Tap Tether in $2B Bitcoin Lending Project, Secures 5% Stake
Financial services firm, Cantor Fitzgerald, is reportedly discussing receiving support from stablecoin issuer Tether to help fund the project. Howard Lutnick, US President-elect Donald Trump’s pick for Commerce Secretary, aims to launch a $2 billion project to lend dollars to clients who supply Bitcoin as collateral, according to Bloomberg citing...
