The CFTC launched a pilot allowing Bitcoin, Ethereum, and USDC as tokenized collateral for U.S. derivatives under strict regulations, enhancing safety and oversight amid evolving digital asset markets.

The U.S. Commodity Futures Trading Commission (CFTC) has launched a digital asset pilot program, allowing Bitcoin, Ethereum, and USDC, among other payment stablecoins, to be used as collateral in the U.S. derivatives market. The program is only applicable to futures commission merchants (FCMs) that meet specific conditions. These firms can accept BTC, ETH, and USDC as margin collateral for futures and swaps trading, but must comply with strict reporting and custody requirements.

x402 is extremely important for stablecoin payments. Some people (like Lincoln Murr) have compared it to a "Trojan horse." This is a very apt analogy. This Trojan horse is not just about using "stablecoins." Instead, it gradually influences users in three ways, thereby reshaping the financial payment network. Previously, for stablecoin payments, users needed to: open a wallet → connect → sign the transaction → pay the gas fee → wait for confirmation. For most non-crypto-native users, this process is too complicated, since creating a crypto wallet already excludes 90% of users. But with x402, the process (for the user) is: open a paid content (such as a paid short drama, etc.) → browser/wallet pops up "Need to pay 3 USDC," click "Allow" → payment is completed, and the content is immediately unlocked. Users don't need to know they are paying with a stablecoin (such as USD

Singapore-based stablecoin cross-border payment service provider MetaComp has completed a $22 million Pre-A round of financing, which will be used to accelerate the expansion of the StableX network in Southeast Asia, South Asia, and the Middle East. The company has a monthly trading volume of over $1 billion, supports multiple stablecoins, and enables 24/7 forex execution.

AllScale, a self-custody financial platform focused on serving small and micro businesses worldwide, recently announced the completion of a $5 million seed funding round. The round was led by YZi Labs, with participation from Infomed Ventures, Generative Ventures, and other institutions. The project aims to build the world’s first self-custody stablecoin digital bank, providing instant, low-cost, and borderless stablecoin payment and invoicing solutions for freelancers and small and micro businesses globally through account abstraction and an AI-driven financial assistant. Its vision is to become the underlying payment infrastructure powering the “super individual” economy.

In brief The pilot program permits FCMs to accept Bitcoin, Ethereum, and USDC as margin with enhanced reporting requirements. New guidance outlines how tokenized Treasuries and money-market funds can be used within existing CFTC rules. Staff advisory limiting the use of digital assets as

Hyperliquid links USDC between HyperCore and HyperEVM, streamlining deposits and enabling safer, cross-chain transfers for users. $STABLE traders can now take long or short positions with up to 3x leverage, meeting growing demand for flexible trading tools. $HYPE token faces supply-pressure

Hyperliquid announced native interoperability of USDC between HyperCore and HyperEVM, marking a significant advancement in secure cross-chain transfers. In the future, this will replace the Arbitrum cross-chain bridge, and all USDC will be minted natively. The related functionality is being improved, and users and developers can continue using the existing bridge.

In the electronic currency revolution of 2025, digital payments are leading the way in global financial innovation. The advantages of electronic currency have attracted widespread attention, with its unparalleled efficiency in cross-border transactions revealing the profound impact of digital payment trends. In addition, the security of electronic currency is highly valued, ensuring the privacy and safety of users’ funds. When faced with the choice between electronic currency and traditional currency, its future development shows unlimited potential, shaping an entirely new blueprint for the financial markets. Through this article, you will gain an in-depth understanding of the core driving forces behind this digital innovation wave. The Rise of Electronic Currency: A Digital Revolution Disrupting Traditional Finance A New Era of Digital Payments: A Leap in Efficiency and Convenience 2025 is becoming a pivotal turning point for the payments industry, with digital wallets and open banking services taking center stage in the payments sector. According to industry surveys, the changes brought by the electronic currency revolution have far exceeded expectations, especially with the rise of stablecoins such as Tether (USDT) and USDC.

Circle reported a $2 billion increase in USDC supply after issuing $8.2 billion and buying back $6.2 billion, reflecting rising demand for USDC and improving liquidity across blockchain networks. The total USDC supply now stands at $78 billion, fully backed by $78.1 billion in liquid assets. Analysts see USDC as essential for the stablecoin liquidity ecosystem and its role in fintech and blockchain platforms continues to grow.

In Brief Solv Foundation is expanding its platform to Stellar, enabling institutions and users to generate yield on $200 million in USDC while linking cross-border payments to on-chain capital market opportunities. Solv Foundation, a prominent Bitcoin finance protocol, has announced plans to ex

The SEI ecosystem grows quickly and attracts new users who want faster performance on-chain. Developers push for stronger settlement speed, reliable liquidity, and stable transaction flow across exchanges and apps. The new SEI USDC integration now strengthens this demand and brings a fresh wave of a

Financial Supervisory Commission Chairman Peng Jinlong revealed on December 3 that the Taiwan version of stablecoins is expected to be launched as early as the second half of 2026. The FSC has confirmed that banks will take the lead in issuing stablecoins. Currently, the draft "Virtual Asset Service Act" has entered the final stage of review by the Executive Yuan. If the three readings process is successfully completed, the FSC will finalize eight sub-laws, including the "Regulations on the Issuance and Management of Stablecoins," within six months.

The International Monetary Fund (IMF) has released its latest report, issuing a stern warning about the global stablecoin market. The report points out that fragmented regulatory frameworks in major economies such as the EU and Japan have created dangerous "regulatory patchworks." This not only threatens global financial stability and undermines regulatory effectiveness but also becomes a "roadblock" for the development of efficient cross-border payments. The IMF specifically emphasized that the stablecoin market, which has already surpassed $300 billion, is moving across borders at a pace faster than regulatory oversight can keep up with, and, for the first time, published global policy guidelines aimed at reducing fragmentation. This move marks a new level of recognition among major global financial regulators regarding the systemic risks posed by stablecoins.

The International Monetary Fund (IMF) has released the "Understanding Stablecoins" report, warning that the fragmentation of regulatory frameworks across countries is creating structural "barriers," threatening financial stability, weakening regulation, and slowing the development of cross-border payments. The global stablecoin market capitalization has exceeded $300 billion, with Tether's USDT and Circle's USDC accounting for the majority of the supply.

Taiwan Central Bank Governor Yang Chin-long stated that future payments will adopt a dual-track parallel strategy. On one hand, the bank will continue to optimize TWQR and promote cross-border interoperability; on the other hand, it will steadily advance wholesale CBDC and tokenized financial infrastructure. In 2024, TWQR's operational volume reached NT$582 trillion, 23 times the GDP for that year. Yang Chin-long warned of the risks of stablecoins, comparing them to "wildcat banks," which historically caused large-scale bank runs due to lack of regulation and insufficient reserves.

According to TechFlow, on December 3, Whale Alert monitoring shows that the USDC Treasury burned 60 million USDC on the Ethereum chain about 10 minutes ago.

The world’s second-largest stablecoin issuer, Circle, saw its stock price plummet from $299 to $76—a staggering 75% drop in just a few months, leaving a large number of investors trapped. Behind the CRCL stock crash lies the stablecoin business model being hit by both the interest rate cut cycle and the tokenization of RWA money market funds. Institutional estimates show that for every 1% rate cut by the Federal Reserve, Circle’s revenue declines by 27%.

Original Authors: Mao Jiehao, Liu Fuqi Introduction: From HTTP 402 to the Dawn of the Machine Economy In 1996, the designers of the HTTP protocol reserved the "402 Payment Required" status code, but due to the lack of supporting payment infrastructure, it became the "ghost code" of the Internet era. Thirty years later, the x402 protocol, initiated and promoted by Coinbase, has awakened this dormant status code into a "digital cash register" for AI autonomous transactions. When meteorological AI robots automatically purchase global weather data and self-driving cars pay road tolls in real time, the traditional payment logic of "account opening-authentication-authorization" is being dismantled—x402, through the closed loop of "HTTP request-402 response-on-chain payment-service delivery," has, for the first time, enabled atomic transactions between machines without human intervention. Behind this transformation is the rise of the "machine economy"

The largest dark pool decentralized exchange (DEX) by trading volume in the Solana ecosystem, HumidiFi, has officially launched the first community sale (ICO) of its governance token WET. The sale will begin on December 3 on Jupiter’s decentralized token launch platform DTF and will be conducted in three rounds on a first-come, first-served basis. The total sale accounts for 10% of the total token supply (100 million WET), with an initial fully diluted valuation (FDV) ranging from $50 million to $69 million. As background, HumidiFi’s 24-hour trading volume has reached as high as $1.048 billion, accounting for about 30% of the total DEX trading volume on the Solana chain. Its unique “dark pool” mechanism provides MEV protection and a trading experience with lower slippage. This ICO is not only a major milestone in HumidiFi’s own development but is also seen as the next indicator for gauging the market enthusiasm of the Solana DeFi ecosystem.

According to Deep Tide TechFlow news, OpenMind and Circle announced a strategic partnership to jointly develop the first payment infrastructure for autonomous, real-world embodied AI trading. By combining OpenMind's Bots and agent operating system with the USDC stablecoin issued by Circle and the x402 payment protocol, both parties hope to enable Bots and AI agents to directly make payments for energy, services, and data in the physical world. Robots gradually becoming independent economic entities will participate in three core markets: 1. Task Market: Bots perform delivery, inspection, and other tasks to earn rewards. 2. Information Market: Local sensor data and environmental state summaries can be sold to agents responsible for decision-making and planning. 3. Resource Market: Bots provide resources for charging, storage, and tool usage.

According to a report by Forbes on December 2, Deep Tide TechFlow news states that Forbes has released the 2026 30 Under 30 list in the financial sector, covering the fields of financial technology, Crypto Assets, and TradFi. The list was selected from nearly 800 nominees, among which 8 founders of Crypto Assets were included. Among them, Asta Li studied Mechanical and Aerospace Engineering and Computer Science at Cornell University, worked on autonomous driving technology at Uber, and co-founded the Crypto Assets wallet company Privy in 2021. The company provides embedded application encryption wallet services for businesses, has over 1,000 clients, including well-known Crypto Assets companies such as Hyperliquid, Lightspark, and Blackbird, and has created wallets for tens of millions of consumers. This year, it was Stri

The ruling Democratic Party of Korea has issued an ultimatum to financial authorities, urging them to accelerate the formulation of local stablecoin market-related laws. The ruling party has notified the country's Financial Service Commission, requesting the submission of a government proposal on stablecoin regulation by December 10, referring to it as the final demand. Authorities are considering a plan that allows the Central Bank of Korea, FSC, and the banking sector to form an alliance to issue stablecoins, requiring banks to collectively hold more than 50% of the shares of the consortium.

Travis Hill, acting chairman of the Federal Deposit Insurance Corporation (FDIC), testified at a House hearing that the agency is preparing to propose stablecoin application rules by the end of December, with a draft rule expected to be released later in December to establish an application framework, and a proposed rule to implement prudential requirements for federally regulated payment stablecoin issuance entities to be released early next year.

According to news from Mars Finance, Whale Alert monitored that at 22:46 Beijing time, USDC issuer Circle minted an additional 100 million USDC on the Ethereum on-chain.

On November 28, the People's Bank of China held a meeting of the working coordination mechanism to combat virtual money trading speculation, attended by relevant leaders from 13 departments, including the Ministry of Public Security, the Supreme People's Court, and the Supreme People's Procuratorate. The meeting notably singled out "stablecoin," clearly stating that stablecoins are a form of virtual coins and pose risks of being used for Money Laundering, fundraising fraud, and illegal cross-border fund transfers. The meeting emphasized that activities related to virtual money business are considered illegal financial activities.

After dropping to a low of $302 billion, the stablecoin economy is recovering, now reaching $306.157 billion. Tether remains dominant, while USDC has seen notable growth. Overall, recent recovery signals a resilient market, potentially boosting liquidity and confidence in crypto.

The Central Bank of China reiterated after a multi-department meeting held last Friday that digital assets have no legal status in China, and specifically pointed out that stablecoins fail to meet AML and customer identification requirements, claiming they pose a threat to financial stability. The People's Bank of China convened representatives from 13 government departments in Beijing to discuss the "resurgence" of speculative activities related to digital assets, marking the strongest public comments the Central Bank has made on Crypto Assets issues since the comprehensive ban on trading and Mining in September 2021.

According to Mars Finance, a newly created wallet 0x0c0B deposited 3.86 million USDC to Hyperliquid one hour ago and placed a limit order to go long 196 BTC in the price range of 86,500–86,750 USD, estimating the order size at approximately 16.97 million USD based on the midpoint of the range.

Circle has minted an additional 1 billion USD in USDC on the Solana network, totaling 12.25 billion since October 11. This increase reflects rising demand for USDC in DeFi and on-chain activities, highlighting Circle's efforts to enhance liquidity and strengthen its stablecoin position amid growing competition.

Visa has officially partnered with Aquanow to expand

Written by: Shao Jiadian People engaged in crypto payments are all asking the same question: Which road really can make money? I've heard many industry stories, but those that can actually make money are really few. Today I want to strip away all the "mysticism" outside and just talk about reality: The real profitable directions for crypto payments now are actually only three categories: channels, compliance, and high-risk services. Other directions are basically powered by love. By understanding these three categories, you basically know where the money flows in this industry, where the barriers are, and how you should enter the market. Channel: The Everlasting First Source of Profit (and it will become more expensive) If you strip down the business models of all cryptocurrency payment institutions to the bone, there is only one question left: Who can send money to the destination the fastest, the most securely, and with the least trouble? If you can do this, you can collect fees, take a margin, and gain traction. (1) U ↔ fiat currency deposit / withdrawal This is the entire industry's

The notorious North Korean cybercrime group Lazarus is suspected of orchestrating a major crypto assets attack that resulted in losses of approximately $30.6 million for South Korea's largest cryptocurrency exchange. The exchange operator Dunamu confirmed that assets related to Solana worth 44.5 billion won were transferred to an unauthorized wallet on Thursday, and the company stated it would use its own reserves to fully compensate users.

Two Prime CEO Alexander S. Blume wrote in Forbes that after fluctuations are adjusted in 2025, the Crypto Assets market will still be sluggish, but this does not mean stagnation. On the contrary, with the acceleration of institutionalization and the gradual improvement of regulatory frameworks, in 2026 DAT 2.0 will gain legitimacy, stablecoins will be ubiquitous, the Bitcoin four-year cycle will end, U.S. investors will gain offshore Liquidity, and product refinement will occur.

Massive USDC transfers raise concern as Pumpfun faces sharp pressure and weak market confidence. Heavy treasury movements spark doubt as the buyback plan struggles to support PUMP price. Pumpfun revenue drops as user activity slows and the token records a deep monthly decline. Pumpfun is facing i

According to Mars Finance news, Onchain Lens monitored that a newly created Wallet deposited 3 million USDC into HyperLiquid and placed an order to short HYPE in the range of 35.7-36.7 USD.

Pump.fun has transferred a total of 480 million USDC to Kraken over 12 days. While the team claims to be reinvesting, 75 million USDC was recently sent to Kraken, followed by a transfer of 69.26 million USDC to Circle.