News linked to both this project and an event.
Binance is collaborating with the FBI and the U.S. Secret Service to investigate a theft incident involving $6.4 billion. Stablecoin issuer Circle stated it has frozen over $800 million in USDC related to the incident and is cooperating with law enforcement authorities in the investigation. (Decrypt)
According to market news, the U.S. Secret Service stated that investigators are collaborating with private sector partners, including Circle, to identify, freeze, trace, and recover funds stolen from Binance.
Additionally, the Noble chain will not integrate with the new version of CCTP. Circle plans to suspend its USDC contract and remaining cross-chain routes on January 12, 2027. Holders on Noble must transfer out their USDC beforehand. Circle will take a snapshot of any remaining balances on the day of suspension and initiate manual redemptions starting January 13. Applicants must meet compliance and security requirements, with assets held in self-custody wallets.
Circle CEO Jeremy Allaire stated that Circle is closely monitoring reports of a potential attack on Binance, and has coordinated with law enforcement to freeze over 800 million USDC related to the incident. Circle will continue to support the investigation.
Odaily reports: According to Bitcoin News monitoring, on-chain analysis shows that attackers appear to have exploited the Ethereum EIP-7702 mechanism to obtain signature authorization, installing malicious code without directly accessing the private keys of Binance-associated wallets. The attackers then called a function named "sweep" to transfer ETH and dozens of tokens into wallets under their control; the same delegation permission was reportedly also used to transfer $780 million USDC out of another Binance hot wallet. The attackers' transaction relayer received funding through Tornado Cash, and nearly 195,460 ETH was subsequently transferred to a newly created wallet. How the attackers obtained the relevant authorization remains unclear. Binance stated that user funds are safe and that an investigation is currently underway.
Circle has submitted a comment letter to the U.S. Securities and Exchange Commission regarding proposed crypto asset regulation rules, supporting the promotion of innovation under clear rules while maintaining transparency, investor protection, market integrity, liquidity, and efficiency. Circle recommends that the relevant rules be aligned with the GENIUS Act and requests clarification that payment stablecoins compliant with the Act may be used for on-chain capital formation and settlement, and that they constitute "cash" under proposed Rule 302(b), subject to the corresponding USD valuation, accounting, and customer reserve treatment. Circle also recommends reducing the broker-dealer haircut for payment stablecoins compliant with the GENIUS Act from 2% to zero, and requests that the SEC clarify that technical services provided after network operation do not constitute necessary administrative functions, while establishing a safe harbor rule for technology roadmaps.
According to local media outlet Valor Econômico, the bank submitted its notice to the Central Bank of Brazil on Tuesday, ahead of the compliance deadline of October 30. Under the regulatory framework, banks authorized by the central bank can offer crypto services through a notification process, while dedicated virtual asset service providers must apply for an operating license. According to its website, Itaú Unibanco offers 15 crypto assets, including Bitcoin, Ethereum, and the US dollar-pegged stablecoin USDC; the service launched in December 2023, and the bank has not disclosed the number of clients or trading volumes.
Odaily reports: Data from crypto market data firm Kaiko shows that USDC now accounts for 56% of euro stablecoin trading volume, up from 10% in January 2024, and has surpassed USDT. The shift in market share accelerated after multiple exchanges in the European Economic Area restricted USDT trading in accordance with the Markets in Crypto-Assets Regulation (MiCA).USDC's liquidity in euro-denominated trading has also surpassed USDT, with its order book depth approximately 40% higher. However, USDT remains the larger stablecoin globally, with a circulating supply about 2.5 times that of USDC.About two weeks ago, the European Banking Authority (EBA) designated USDC as the EU's first "significant e-money token" under the MiCA framework and placed it under direct supervision. Kaiko also noted that the U.S. GENIUS Act could drive similar trading shifts on U.S. platforms; Tether, meanwhile, has launched USAT, a stablecoin aimed at the U.S. market. (Cointelegraph)
According to Bitcoin.com News, a collaborative project in Thailand has launched a digital wallet app called WORPT, which allows foreign tourists to exchange stablecoins such as USDT and USDC for Thai baht and make payments to local merchants via Thailand's QR Promptpay network. Launched under the Securities and Exchange Commission of Thailand’s (SEC) tourist Digipay regulatory sandbox initiative, the app is jointly developed by Waan Exchange and Wipay, in partnership with the USDT issuer, The Mall Group, and Visa. Designed within the sandbox framework, local merchants will not receive cryptocurrency directly; instead, payments are settled in Thai baht through standard payment channels. WORPT also plans to introduce physical and virtual Visa prepaid cards, allowing users to draw from a shared Thai baht balance for both QR code scans and card transactions. The project is slated to hold its official launch event in November 2026.
a notice updated by OKXICE TSV on October 23 listed 6 newly objecting companies, including Wells Fargo, Cisco Systems, Marvell Technology, Arm Holdings, Moderna, and Intuit. The total number of companies that have raised objections has increased to 22, up from 16 on October 19 and 9 on October 15. The notice did not state the reasons why the companies objected, nor did it explain the impact of the objections on whether the stocks can be traded on the platform.OKXICE TSV is a joint venture owned 50-50 by Intercontinental Exchange and OKX's U.S. holding company, and plans to allow approved users to trade tokenized U.S. stocks around the clock. Trading will be conducted through Uniswap v4 liquidity pools on OKX's XLayer blockchain and settled using stablecoins such as USDC.The notice disclosed that the platform suspends trading only when the underlying stocks are halted, has not set up other circuit breaker mechanisms, and has not established policies for handling issues related to blockchain transaction ordering. Smart contracts can be upgraded without prior notice to users, and the contract controlling trading eligibility has only undergone an internal audit. (Decrypt)
the Monetary Authority of Singapore has announced the expansion of the BLOOM cross-border digital currency settlement initiative, with Bank Negara Malaysia and the Bank of Thailand joining as policy-making members. BLOOM is a public-private partnership initiative covering regulated stablecoins and tokenized deposits, with participants including Mastercard, Visa, Nium, Ripple, Circle, Coinbase, Airwallex, Maybank, Monee, Shopeepay, and the World Bank Group. The initiative will study the acceptance of different forms of currency, inter-institutional contracting, settlement, and system connectivity, and will implement identity verification and sanctions screening through programmable controls, with applications spanning payments, corporate treasury, and trade finance.
According to Zon monitoring, available information indicates that this security incident may have originated from a Day 0 vulnerability in Initia's MoveVM built on Cosmos SDK. The vulnerability allowed attackers to mint additional tokens on Initia L1, but does not affect the native token INIT. Before the blockchain was halted, the attacker had already transferred out approximately $2.7 million worth of AUSD, ETH, and USDC through additional minting and cross-chain transfers. The team is still investigating, and the subsequent impact and further details remain to be confirmed.
Odaily — Stablecoin issuer Circle reported approximately $1.4 billion in revenue for the first half of 2026, of which about $819 million (59%) was paid to USDC distribution partners and for transaction costs, while another $473 million (approximately 34%) went toward licensing, banking partnerships, liquidity, compliance, and other expenses.Circle's net profit for the first half accounted for approximately 7% of revenue. Circle stated that the company holds more than 55 licenses and registrations, has partnerships with over 25 banks, and has deployed native USDC on more than 35 blockchains.Circle Payments Network users and eligible Circle Platform customers can redeem USDC free of charge on a near-real-time basis, 24/7 year-round, with standard redemptions typically completed within two business days. Circle minted and redeemed over $315 billion in USDC during the first half.USDC on-chain transaction volume exceeded $36 trillion in the first half of 2026, accounting for approximately 77% of global stablecoin transaction volume in June; minting and redemption volume reached $170 billion in the second quarter, up 105% year-over-year. (Bitcoin.com News)
Odaily reports: Circle disclosed that in the first half of 2026, USDC retained only 7 cents of net profit per $1 of revenue. According to a blog post published on October 16 by Circle Chief Business Officer Kash Razzaghi, Circle generated approximately $1.4 billion in revenue and reserve income in the first half of the year, of which $819 million was distributed to distribution partners and used for transaction costs, equivalent to about 59 cents per dollar of revenue. Circle stated that the low revenue retention rate demonstrates the sustainability of its model, and said that competitors' higher revenue-sharing ratios mean they are saving costs on underlying infrastructure.Circle holds more than 55 licenses and partners with over 25 banks, with more than 150 partners participating in the USDC economic revenue share. In the first half of 2026, USDC on-chain transaction volume exceeded $36 trillion; in June 2026, USDC's share of global stablecoin transaction volume rose to 77%, up from 60% in the same period the previous year. Open USD launched in June 2026, featuring free minting and redemption, and distributes reserve income directly to participants.
A working paper from the Bank for International Settlements (BIS), based on weekly U.S. data from January 2019 to June 2025, found that when bank deposit rates rise, the growth rate of the stablecoin market slows. The paper's authors include BIS economist Iñaki Aldasoro and Rashad Ahmed of the Andersen Institute for Finance and Economics.In the sample, stablecoin market capitalization grew by about 15% over a typical 10-week period. Baseline estimates show that after a one-basis-point increase in deposit rates, that growth rate falls to about 12%; an alternative method used to identify causality shows the growth rate falling to about 6%, though the stablecoin market still continued to grow.The correlation is stronger for Circle-issued USDC than for Tether-issued USDT, which the authors attribute to USDC's closer ties to U.S. users. The paper notes that banks can influence the pace of stablecoin adoption through deposit pricing, and recommends that regulators assess whether stablecoin issuers should be allowed to pay yield to holders and whether issuers should be required to hold a portion of their reserves in bank deposits.The working paper represents only the views of the authors and does not necessarily reflect the position of the BIS; the sample covers a single high-interest-rate cycle, during which stablecoins paid no interest to holders. The U.S. Treasury, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) are drafting implementation rules for the GENIUS Act, which takes effect next January and sets out rules for the issuance, use, and custody of stablecoins. (Decrypt)
According to information released by DTCC regarding its tokenization service, the platform will initially support 25 categories of tokenizable securities, backed by DTC-custodied securities worth approximately $30 trillion. Tokens maintain a strict 1:1 peg with their underlying securities, utilize the same CUSIP identifiers, and carry identical rights and investor protections as traditional book-entry instruments, with the official ledger remaining under DTC custody. Peer-to-peer transfers between DTC-registered wallets operate 24/7, subject to built-in compliance restrictions on token transfers. Participants may submit conversion orders via the UI and API during Eastern Time business hours from 2:00 AM to 6:00 PM, with a target processing window of under 15 minutes. U.S. Treasury coupon distributions and maturity redemptions will be processed on-chain, with fiat proceeds disbursed directly to participants’ traditional banking accounts. The inaugural asset lineup comprises Russell 1000 constituents (initiating with select large-cap equities), select ETFs, and U.S. Treasuries. Initial network integrations feature Canton Network (CIP-56) and DTCC’s private Besu network (ERC-20), with Stellar (SEP-41) and Circle’s Arc (ERC-20) targeted for 2027 deployment. The extended roadmap encompasses broadening the universe of tokenizable securities, deploying governance controls such as single sign-on and maker-checker approvals, scaling corporate action capabilities for equities and ETFs, merging book-entry and on-chain position records, and enabling on-chain netting, collateral management, and number
Odaily reports: In its weekly report on October 9, Intersect stated that the Cardano 2026 treasury reserve smart contract has so far managed 201.67 million ADA, 26.1 million USDCx, and 4.8 million USDM, meaning that part of the development budget is no longer directly dependent on the ADA price. Previously, on October 2, Intersect said that two budgets had been minted into the dollar stablecoin USDM through Moneta Digital and deposited into the smart contract: the governance and technical custody budget was 4.505955 million USDM, scheduled through July 29, 2027; and Se7en Labs' Daedalus wallet project budget was 316,253.88 USDM, scheduled through September 29, 2027. USDCx is fully backed by USDC through Circle's xReserve. Burning USDCx releases USDC on Ethereum, which usually takes about 2 to 4 hours; Circle, Input Output, and Midgard can all pause the bridge. USDM issued by Moneta can be redeemed directly for U.S. dollars only through accounts that have passed identity, anti-money laundering, and sanctions screening, and is currently available only to residents of 20 U.S. states.
Odaily reports: A Solana Foundation official stated that the U.S. GENIUS Act provides regulatory momentum for enterprises and financial institutions to enter the stablecoin space, and is also one of the important background factors behind Samsung's launch of stablecoin payment services. Samsung has announced that starting in the last week of October, it will support USDC cross-border transfers in Samsung Wallet, initially targeting eligible Galaxy users in the United States and covering approximately 82 million devices. Users can transfer USD stablecoins to compatible crypto wallets within seconds with no transfer fees, and can also send remittances to eligible bank accounts in more than 60 countries and regions. The service will use the Solana and Sui networks as its underlying infrastructure, with licensed stablecoin custodian Bastion providing transfer services and Coinbase Prime serving as sub-custodian responsible for safeguarding USDC assets.
Odaily Report: On October 16, the French National Assembly passed Amendment I-3898 to the 2027 budget bill, which proposes that starting January 1, 2027, transactions converting crypto assets into e-money tokens under the MiCA framework be included in the scope of capital gains taxation, with related gains subject to a flat tax rate of 31.4%, and a tax liability triggered even without conversion into euros. The measure covers stablecoins such as USDC and EURC; Chainalysis analysis shows that USDT is not covered by this measure. The amendment still requires subsequent budget votes and Senate review and has not yet formally become law.
According to CryptoSlate, Microsoft and the cybersecurity organization Health-ISAC have obtained a U.S. court order to seize and redirect the domains supporting three services: YAM Store, CoGUI, and Iron Man. These three services sell stolen accounts and phishing tools to fraudsters. Since January this year, they have assisted in sending over 1 billion phishing messages, targeting more than 75,000 institutions across over 150 countries, generating tens of millions of dollars in revenue for operators. Microsoft has disabled more than 20,000 accounts associated with YAM Store and continues to block over 100,000 spoofing and fraudulent domains. According to Microsoft's investigation, these services accept payments in USDT (Tron network) and ETH, with Cloudflare noting that buyers can also pay using USDC. Blockchain analytics firm TRM Labs assisted investigators in locating and freezing related assets, though the frozen amount was not disclosed.