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Tag: Stablecoins

A stablecoin is a fiat-backed cryptocurrency that has a value pegged to another stable asset, such as the US dollar.

Circle Faces Class-Action Lawsuit Over Alleged Failure to Freeze $230M Stolen USDC in Drift Protocol Exploit

Circle Faces Class-Action Lawsuit Over Alleged Failure to Freeze $230M Stolen USDC in Drift Protocol Exploit

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Lawsuit filed: Class action initiated on April 14, 2026, by Drift investor Joshua McCollum on behalf of over 100 affected users in U.S. District Court for Massachusetts. Exploit details: On April 1, 2026, attackers drained an estimated $280–285 million from the Solana-based DEX Drift Protocol through trading, lending, and vault deposits. USDC movement: Approximately $230 million in stolen USDC was transferred from Solana to...

Cryptocurrencies, Front page, Hacks, News, Stablecoins

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Resolv Pauses USR Stablecoin After Attacker Mints 80 Million Unbacked Tokens

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Attacker exploited a flaw in the USR minting contract’s SERVICE_ROLE, minting ~80 million unbacked tokens from roughly $200,000 USDC. Proceeds converted to ETH; primary attacker wallet holds 11,409 ETH worth ~$23.7 million plus additional wstUSR exposure. USR depegged to $0.025 on Curve Finance within 17 minutes; later recovered partially to ~$0.85 but remains off-peg. Resolv Labs immediately paused all protocol functions;...

Cryptocurrencies, Front page, News, Stablecoins

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Circle (Nasdaq:CRCL) Stock Surge Signals Stablecoin Momentum

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Circle, the issuer of USD Coin (USDC), has become the week’s headline story after its stock climbed 15% to $96, sparking renewed debate about the role of regulated stablecoin providers in the broader crypto economy. The rally reflects investor confidence in Circle’s expanding footprint across payments infrastructure, particularly as U.S. regulators move closer to establishing clear frameworks for stablecoin oversight. Analysts highlight...

News, Stablecoins

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Circle's Rocky Road to Redemption, From IPO Hype to 2026 Stock Surge

Circle’s Rocky Road to Redemption: From IPO Hype to 2026 Stock Surge

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The crypto stock rollercoaster just delivered another twist. On February 25, 2026, Circle Internet Group (NYSE: CRCL) shares exploded 35%+ in a single session—the biggest one-day pop since its IPO—after crushing Q4 2025 earnings. Revenue hit $770 million (up 77% YoY), USDC circulation reached $75.3 billion (up 72%), and on-chain transaction volume smashed records at $11.9 trillion (up 247%). Yet the stock still sits roughly 70% below its June...

Main, Stablecoins

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OCC Issues Rules Enforcing GENIUS Act's Stablecoin Yield Ban

OCC Issues Rules Enforcing GENIUS Act’s Stablecoin Yield Ban

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The OCC’s 376-page proposal implements the GENIUS Act by prohibiting yields on payment stablecoins, including through affiliates or third parties. Industry experts view it as an overreach beyond the statute, potentially disrupting models like Circle-Coinbase partnerships. The rule sets a 60-day comment period, with crypto firms gearing up to challenge presumptions on yield evasion. The Office of the Comptroller of the...

Crypto regulation, Cryptocurrencies, Front page, News, Regulation, Stablecoins

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