Less than a year after launching USDH, Hyperliquid is sunsetting its native stablecoin and making Coinbase the official treasury deployer for $5 billion in USDC. The hottest DeFi exchange just went full centralized on its settlement layer.
Circle raised $222M from BlackRock, a16z, and Apollo for Arc, a Layer 1 where USDC is the native gas token. $3B valuation, 100+ institution testnet, and a direct shot at Ethereum's institutional market.
The CLARITY Act stablecoin yield compromise bans 'hold and earn' stablecoin rewards in the US. Coinbase backed the deal anyway. Here's the multi-billion dollar calculation behind that decision.
Tether is bailing out Drift Protocol with $148M after North Korea's $285M heist — but the real play is quietly replacing Circle's USDC as Solana DeFi's settlement currency.