Everything web3, crypto, defi, degen
In brief Stream Finance announced that an external fund manager lost approximately $93 million in user assets, triggering an immediate suspension of all withdrawals and deposits. Staked Stream USD (xUSD) crashed from its $1 peg, falling about 77% following the announcement. DeFi research group Yields and More identified nearly $285 million in direct debt exposure…
In brief Stripe is working with crypto venture firm Paradigm to build a new layer-1 network for payments and stablecoins. The network is in private testnet, being built with design input from global firms like OpenAI, Shopify, and Visa. Tempo will feature low fees, a payments-first user experience, and opt-in privacy features. Stablecoins and payment…
In brief The New York court issued a provisional order under Section 1519 directing Circle to maintain the freeze on three Ethereum wallets. A related class action by U.S. investors seeking the same funds has been paused pending the Chapter 15 review. The case will determine whether Singapore’s liquidation of Multichain qualifies for formal recognition…
In brief Coinbase disclosed $1.9 billion in Q3 revenue. The exchange notched $433 million in Q3 profit Transaction revenue rose on a sequential basis, Coinbase said. Coinbase reported $1.9 billion in third-quarter revenue on Thursday, a 26% increase quarter-over-quarter that slightly surpassed Wall Street forecasts.Analysts expected the San Francisco-based crypto exchange to disclose $1.8 billion…
In brief Dare Market brands itself as the “most unhinged platform on the internet,” as it creates a place for people to be paid to do goofy stunts. However, Dare Market says it won’t allow dangerous content on the site due to its strict moderation policy. The project raised a $2 million pre-seed round led…
Western Union will release a stablecoin via the Solana blockchain in 2026, the company said Tuesday.The international payments firm said in a joint announcement with the Solana Foundation that the new digital token will be called USDPT and issued by Anchorage Digital Bank.”Western Union will provide users with access to digital assets, and we look…
In brief Coinbase offers Bitcoin-backed loans as a technology provider. The exchange’s competitors have state-by-state licenses. Coinbase applied for a national trust charter this month. As Coinbase leans into its Bitcoin-backed lending product, the exchange is offering customers competitive rates by connecting them with lightly vetted pools of capital, which don’t require people to provide…
In brief Circle launched the public testnet for Arc, its Layer-1 blockchain network, with participation from over 100 companies including BlackRock, Visa, Goldman Sachs, AWS, and major crypto exchanges like Coinbase and Kraken. The blockchain is designed as an “Economic Operating System” featuring dollar-based fees, sub-second transaction finality, and optional privacy for financial applications like…
In brief In a report Monday, the Bank of Korea challenged the notion that technology alone can ensure currency stability. The central bank cited depegging risks, noting that major stablecoins like USDC fell to $0.88 during Silicon Valley Bank’s 2023 collapse. Meanwhile, South Korean companies are advancing won-pegged stablecoin pilots, including BDACS’s successful KRW1 test…
In brief Ant Group has filed to register the “ANTCOIN” trademark in Hong Kong, covering digital wallets, online payments, and stablecoin services. The filing follows the group’s recent crypto and blockchain initiatives, including USDC payment pilots and energy asset tokenization. Observers say the move is being done to “protect” the group’s interest and manage risk…
