DeFi news
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RedotPay completes financial audit as it presses ahead with U.S. IPO plans
The stablecoin payments company said the audit is part of its preparations to go public, disputing an August report that the listing had been put on hold.
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Binance deal gives Circle a boost in stablecoin race with Tether, analysts say
The five-year deal could strengthen USDC’s reach in emerging markets, though Tether’s liquidity advantage remains hard to dislodge, analysts told CoinDesk.
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Fed requests comment on two proposals for stablecoin issuers under GENIUS Act
US regulatory agencies missed a rule-making deadline under the GENIUS Act, a year after the law was signed.
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AlphaFi Winds Down After Oracle Error, With Sui Foundation Support
AlphaFi is winding down its Sui-based lending protocol AlphaLend after an ALPHA oracle misconfiguration created bad debt, with the Sui Foundation stepping in to support its solvency, Sui said Friday. AlphaFi said certain loans backed by ALPHA had become substantially undercollateralized. “That...
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US Prosecutors Want $84.2 Million From a Bank Tied to Tether
Federal prosecutors are targeting a Montana payments firm and a Caribbean bank accused of moving money without a license.
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EBA Floats Stablecoin Lending Restrictions for EU Crypto Firms
The European Banking Authority has floated barring EU crypto service providers from arranging or facilitating borrowing and lending involving stablecoins that lack authorization under the bloc’s Markets in Crypto-Assets regulation, or MiCA. In its Sept. 24 response to the European Commission’s...
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OG.com seeks CFTC approval for single-stock perpetual futures
OG.com, recently spun out of Crypto.com, joins Coinbase, Kalshi and Kraken parent Payward in seeking approval to bring perpetual futures to individual US stocks.
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Circle CFO Jeremy Fox-Geen to Step Down by Year-End
Circle Internet Group said Sept. 25 that Chief Financial Officer Jeremy Fox-Geen will step down by the end of 2026 and that it has begun a search for his successor. The USDC issuer said Fox-Geen will remain CFO until Dec. 31 or until a successor is appointed, whichever comes first. He will stay......
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Tether says it had ‘limited’ exposure to bank linked to $84M US seizure
US prosecutors alleged that a payments business illegally transferred hundreds of millions of dollars at the direction of EQIBank, where Tether holds some assets.
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Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act.
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Tether Says EQIBank Exposure Is Below 0.034% of Group Assets
Tether says assets held at EQIBank amount to less than 0.034% of its group assets, after The Information reported that some of the stablecoin issuer’s funds were stuck at the offshore bank, which faces liquidation risks following a U.S. asset seizure. A Tether spokesperson gave that percentage...
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Ethena Starts Equity-Basis Rollout for USDe With Binance
Ethena said Sept. 25 that it is beginning to allocate USDe backing to equity-basis trades through Binance, its first exchange partner for the strategy. The trades will pair bStocks tokenized equities with short positions in Binance’s USDT-denominated equity perpetuals. “Allocations begin today,”......
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Aave Adds Coinbase Stock Tokens as Collateral on Base
Aave has opened a market on Base where eligible non-U.S. holders of seven Coinbase-issued stock tokens can borrow USDC without selling them, bringing stock-backed lending to its V4 deployment. The Sept. 25 launch supports AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc and TSLAc—tokens representing......
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Circle and Tether step in to freeze hacker wallet after massive Bitget crypto heist
The stablecoin issuer blacklisted a wallet holding about $318,000 in USDT and USDC. Most of the stolen funds sit in ether, which can't be frozen.
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Tether confirms minimal EQIBank exposure following $89M US asset seizure
While Tether's stated ceiling places its maximum exposure under $64 million, the incident underscores lingering counterparty risks in fiat gateway networks.
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Fed Proposes Capital Charges and Bank Approval Rules for Stablecoins
The Federal Reserve on Sept. 24 proposed rules requiring payment-stablecoin issuers it supervises to hold full reserve backing and capital against operational and certain credit risks, alongside an approval process for bank subsidiaries. The main requirements would cover approved subsidiaries of......
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Aave V4 on Base adds Coinbase tokenized stocks as collateral for USDC loans
Aave V4 added Apple, Nvidia, Tesla, and four more tokenized stocks as collateral for USDC loans for non-U.S. users.
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DeFi hack attack: Three exploits snatch $11M in a single day
Crypto and DeFi projects continue to be hacked at a dizzying pace, and few days in recent weeks have been incident-free. That said, Thursday was a particularly busy day, with three projects hit for a total of more than $11 million worth of crypto. By the end of play, Payy Network had lost $1.8...
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Ethena expands USDe backing strategy into bStocks and equity perpetuals on Binance
Ethena is adding Binance bStocks and equity perpetuals to the basis trade used for USDe's backing strategy.
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KelpDAO sues LayerZero for the largest exploit 2026 has seen so far
The cross-chain lending protocol accused LayerZero and its co-founder Brian Pellegrino of failing to disclose weaknesses in their protocol, which led to the $292 million hack.
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Paxos Labs Launches PAXGy, Adding Lending Yield to Tokenized Gold
Paxos Labs launched PAXGy on Sept. 24, a token designed to earn returns in gold by lending reserve assets to institutional borrowers. The token builds on PAX Gold, or PAXG. Holders’ PAXGy balances stay constant while lending income is intended to increase the amount of PAXG redeemable per token.......
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U.S. Federal Reserve moves on proposals to implement GENIUS Act for stablecoins
The Fed proposed rules on putting last year's GENIUS Act into place with regulations, including those governing stablecoin yield programs.
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Fed proposes new capital, redemption rules for stablecoin issuers
The Fed’s proposal would set capital requirements, a two-day redemption window and new reserve disclosures as regulators implement the GENIUS Act.
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Federal Reserve Unveils Stablecoin Rules on Reserves and Capital
The central bank opened two proposals for comment under the GENIUS Act, requiring issuers it supervises to back tokens fully with safe assets and creating an application process for banks seeking to issue stablecoins.
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Morpho Founder's Vault Classification Draws Pushback From Aave's Kulechov
Morpho co-founder and CEO Paul Frambot published an article on X on Sept. 24 proposing that onchain vaults be divided into two regulatory categories, and drew objections within the hour from Aave founder Stani Kulechov, attorney Gabriel Shapiro and several vault infrastructure founders....
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Fed proposes reserve limits, capital standards for stablecoin issuers under GENIUS Act
The Federal Reserve proposed new measures for stablecoin issuers, including reserve-asset limits and standardized capital requirements.
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Kamino Opens GPU-loan-linked sUSDai Collateral Market on Solana
Kamino has opened a lending market on Solana for sUSDai, letting holders of USD.AI’s GPU-loan-linked token borrow USDC while retaining their yield-bearing position. The market is curated by Allez Labs. According to Kamino’s launch documentation, users can borrow up to 80% of their collateral’s......
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Cross-Border Stablecoin Flows Jump 77.5% but Remain Concentrated
Cross-border stablecoin transfers grew 77.5% to $220.3 billion in the year ended June 30, 2026, according to Chainalysis's latest adoption report. But 96.1% of measured value moved through the busiest quarter of routes between countries. The report, published Sept. 23, shows how an expanding......
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US Aims to Turn Stablecoins Into a Weapon for Dollar Dominance
Washington may fund private stablecoin ventures abroad to protect the dollar's reserve status and prop up Treasury demand.
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Payy Halts Network After $1.92 Million USDC Drain
Payy, a privacy-focused stablecoin payments network, halted transactions on Sept. 24 after an exploit of its Ethereum bridge. Onchain records show two withdrawal batches sent about 1.92 million USDC to the same attacker-linked address. The company confirmed the attack and said “all Payy Network......