stablecoins

India’s central bank is pushing for crypto policy to lean toward prohibition, reviving the country’s hardest policy line against private digital assets as officials review the next phase of virtual digital asset regulation. The Reserve Bank of India wants banks and regulated financial institutions blocked from holding, trading or gaining exposure to crypto assets and private stablecoins. The central bank’s position is built around financial stability, monetary sovereignty and the risk that privately issued digital assets could weaken control over…

Tether burned 2.5 billion USDT at its Treasury on Ethereum, removing one of the largest stablecoin token blocks from the network this year. The transaction was valued at about $2.4977 billion at the time of the alert. The burn reduced the amount of USDT authorized on Ethereum, but it does not automatically mean the same amount was circulating in active market supply before the transaction. Token burns reduce authorized tokens on a specific blockchain. In Tether’s operating model, redeemed USDT…

Base’s B20 Activation Registry is scheduled to go live on mainnet on July 8 at 18:00 UTC, opening the network’s new native token standard to issuers after a delayed rollout window. The registry is the switch that lets developers deploy B20 tokens on Base. Attempts to deploy before activation can revert with FeatureNotActivated, making the registry status the main checkpoint before teams launch tokens on mainnet. B20 is an ERC-20 superset that keeps standard transfer, approval, balance and allowance behavior…

Former Tether chief investment officer Richard Heathcote is working with PJT Partners to sell part of his 1.26% holding in Tether Holdings SA, putting one of crypto’s most profitable private companies back into the secondary-market spotlight. The partial stake sale is in discussions with potential buyers, while no valuation for the transaction has been disclosed. Heathcote stepped down as CIO in March and moved into an advisory role after overseeing the investment portfolio behind USDT, the world’s largest stablecoin. The…

Kast card users are questioning the product’s legal structure after the company’s terms said supported crypto transfers are treated as sales of virtual assets to Kast, not deposits or stored card balances. The terms say users no longer retain ownership of the transferred stablecoins once the sale is confirmed. Kast records a USD-denominated ledger entry based on the market rate at the time of transfer, with the app balance serving as a reference for card spending rather than an account…

Arbitrum’s stablecoin supply has fallen sharply since May, dropping from about $7.7 billion to roughly $4.4 billion on the latest Artemis dashboard. The Artemis chain data shows a decline of about $3.3 billion from the May level. The drop reverses the expansion that previously pushed Arbitrum above $7.8 billion in stablecoins while 30-day transfer volume topped $74 billion. [caption id="attachment_465965" align="aligncenter" width="2560"] Source: Artemis - Total Stablecoin Supply on Arbitrum[/caption] The new reading does not mean Arbitrum has stopped being…

Ethereum holds about $153 billion in stablecoins, keeping mainnet as the largest blockchain for onchain dollar liquidity. The latest stablecoin chain data places total tracked stablecoin supply near $311 billion, with Ethereum holding about $153 billion. That gives Ethereum the largest single-chain stablecoin base across public blockchains. [caption id="" align="alignnone" width="1632"] Source: Artemis[/caption] Ethereum’s position comes from deep USDT and USDC liquidity, DeFi settlement, institutional custody flows, tokenized-asset activity and large-value transfers. Mainnet fees remain higher than many competing networks,…

Revolut has notified affected users that it will stop supporting USDT, giving customers a staged deadline to buy, deposit, sell or withdraw the stablecoin before balances are removed from accounts. Users can continue buying USDT until July 6. New USDT deposits will stop on July 30. Users can still sell USDT or withdraw it to external wallets until Aug. 31. After Aug. 31, any remaining USDT balances in affected Revolut accounts will be converted into fiat currency at the prevailing…

Binance is set to lead Mesh’s new funding round at a valuation of up to $2 billion, giving the crypto payments and settlement company a higher reported price six months after its last major raise. The Axios Pro report placed the new valuation at up to $2 billion and tied the round to demand for digital asset, fiat transfer, payment and settlement infrastructure. The deal has not been announced by Binance or Mesh. Mesh closed a 75 million Series C…