Trump's new AI czar once sued Ripple at the SEC
Stack
- Clayton's SEC filed the Ripple suit in Dec 2020, his final month as chair
- Judge Torres ruled in 2023 that retail XRP sales weren't securities
- Clayton now runs DNI, a post with zero SEC rulemaking authority
Story
Everyone's reading this as a crypto signal because of the Ripple history. The AI Force sits outside SEC jurisdiction; this is a personnel pick, not a policy shift.
Watch
- Does the Force's charter mention digital assets at all
- Does Trump pair Clayton with an SEC enforcement veteran
Full read: https://stackandstory.com/stories/clayton-ripple-past-ai-future
Stack
- Clayton's SEC filed the Ripple suit in Dec 2020, his final month as chair
- Judge Torres ruled in 2023 that retail XRP sales weren't securities
- Clayton now runs DNI, a post with zero SEC rulemaking authority
Story
Everyone's reading this as a crypto signal because of the Ripple history. The AI Force sits outside SEC jurisdiction; this is a personnel pick, not a policy shift.
Watch
- Does the Force's charter mention digital assets at all
- Does Trump pair Clayton with an SEC enforcement veteran
Full read: https://stackandstory.com/stories/clayton-ripple-past-ai-future
Bitcoin ETFs open October with $134M, thinner than it sounds
Stack
- Thursday's $102.7M inflow was triple Friday's $31.7M
- Sept. 30 posted a net outflow before the rebound
- Two-day total trails single-session swings seen earlier this year
Story
The green number is a rate bet, not a Bitcoin bet. Inflows spiked right after a weak jobs report, then faded two-thirds the next day.
Watch
- Watch if daily inflows hold above $100M without another jobs catalyst
- Watch the next CPI or payrolls print for a reversal
Full read: https://stackandstory.com/stories/bitcoin-etf-uptober-134-million
Stack
- Thursday's $102.7M inflow was triple Friday's $31.7M
- Sept. 30 posted a net outflow before the rebound
- Two-day total trails single-session swings seen earlier this year
Story
The green number is a rate bet, not a Bitcoin bet. Inflows spiked right after a weak jobs report, then faded two-thirds the next day.
Watch
- Watch if daily inflows hold above $100M without another jobs catalyst
- Watch the next CPI or payrolls print for a reversal
Full read: https://stackandstory.com/stories/bitcoin-etf-uptober-134-million
Bitcoin ETF streak hits week three, but size keeps shrinking
Stack
- Bitcoin ETFs: $241.1M last week, after $2.4B and just $6.2M the two weeks before
- Ether ETFs flipped from $690M in to $138M out in one week
- Zcash funds shed $94M in their first-ever outflow week
Story
Three green weeks for Bitcoin ETFs sounds like momentum until you see the middle week only brought in $6.2 million. The streak is thinning, not building.
Watch
- Watch if weekly BTC ETF inflows climb back above $500M or keep sliding toward that $6.2M floor
- Watch for a second straight Ether ETF outflow week to confirm the reversal
Full read: https://stackandstory.com/stories/bitcoin-etfs-third-week-thin-gain
Stack
- Bitcoin ETFs: $241.1M last week, after $2.4B and just $6.2M the two weeks before
- Ether ETFs flipped from $690M in to $138M out in one week
- Zcash funds shed $94M in their first-ever outflow week
Story
Three green weeks for Bitcoin ETFs sounds like momentum until you see the middle week only brought in $6.2 million. The streak is thinning, not building.
Watch
- Watch if weekly BTC ETF inflows climb back above $500M or keep sliding toward that $6.2M floor
- Watch for a second straight Ether ETF outflow week to confirm the reversal
Full read: https://stackandstory.com/stories/bitcoin-etfs-third-week-thin-gain
Binance BTC outflows hit a 3-year high as whale cash piles up
Stack
- Binance lost 23,137 BTC in one week, the biggest drop since June 2023's 44,942 BTC
- Whale stablecoin inflows to Binance jumped 40% to $30.5B in six weeks
- That same metric hit $61B at the October 2025 all-time high, then collapsed
Story
Coins leaving and cash arriving on the same exchange isn't one bullish signal, it's a standoff. Last time stablecoin dry powder spiked this fast it marked the top, not the bottom.
Watch
- Watch for BTC to clear $87,570, the 2026 yearly open, on volume
- Watch whether the $30.5B stablecoin balance keeps rising or stalls
Full read: https://stackandstory.com/stories/binance-btc-outflows-whale-stablecoins
Stack
- Binance lost 23,137 BTC in one week, the biggest drop since June 2023's 44,942 BTC
- Whale stablecoin inflows to Binance jumped 40% to $30.5B in six weeks
- That same metric hit $61B at the October 2025 all-time high, then collapsed
Story
Coins leaving and cash arriving on the same exchange isn't one bullish signal, it's a standoff. Last time stablecoin dry powder spiked this fast it marked the top, not the bottom.
Watch
- Watch for BTC to clear $87,570, the 2026 yearly open, on volume
- Watch whether the $30.5B stablecoin balance keeps rising or stalls
Full read: https://stackandstory.com/stories/binance-btc-outflows-whale-stablecoins
Tether sued over $2.76M frozen for a year with no charges filed
Stack
- $2.76M frozen for over 12 months with no formal justification shared, per Decrypt
- Tether's reserves, reportedly above $120B, sit in yield-bearing Treasurys and repo
- Suit filed in SDNY, the same venue as prior Tether reserve litigation
Story
This reads like a compliance freeze story. It's actually a question about who collects interest on money nobody's allowed to touch.
Watch
- Watch if Tether moves to dismiss citing its freeze clause in terms of service
- Watch Tether's next attestation for any disclosure on frozen-but-yield-bearing funds
Full read: https://stackandstory.com/stories/tether-froze-276m-it-kept-the-yield
Stack
- $2.76M frozen for over 12 months with no formal justification shared, per Decrypt
- Tether's reserves, reportedly above $120B, sit in yield-bearing Treasurys and repo
- Suit filed in SDNY, the same venue as prior Tether reserve litigation
Story
This reads like a compliance freeze story. It's actually a question about who collects interest on money nobody's allowed to touch.
Watch
- Watch if Tether moves to dismiss citing its freeze clause in terms of service
- Watch Tether's next attestation for any disclosure on frozen-but-yield-bearing funds
Full read: https://stackandstory.com/stories/tether-froze-276m-it-kept-the-yield
Circle slots USDC and EURC straight into SAP's finance software
Stack
- SAP's ecosystem covers 84% of global commerce, per the Circle-Tereina announcement
- Arc, Circle's new layer-1, already supports over 20 fiat-backed stablecoins
- USDC pays Arc's transaction fees, tying the chain's economics to Circle's own token
Story
The point of this deal is removing the login screen. Stablecoins show up inside the same settlement dropdown finance teams already use, which is the friction that killed most prior enterprise crypto pilots.
Watch
- Watch for published transaction volume once the pilot period ends
- Watch for a rival ERP vendor (Oracle, Workday) announcing a similar stablecoin embed within two quarters
Full read: https://stackandstory.com/stories/circle-sap-tereina-usdc-eurc-payments
Stack
- SAP's ecosystem covers 84% of global commerce, per the Circle-Tereina announcement
- Arc, Circle's new layer-1, already supports over 20 fiat-backed stablecoins
- USDC pays Arc's transaction fees, tying the chain's economics to Circle's own token
Story
The point of this deal is removing the login screen. Stablecoins show up inside the same settlement dropdown finance teams already use, which is the friction that killed most prior enterprise crypto pilots.
Watch
- Watch for published transaction volume once the pilot period ends
- Watch for a rival ERP vendor (Oracle, Workday) announcing a similar stablecoin embed within two quarters
Full read: https://stackandstory.com/stories/circle-sap-tereina-usdc-eurc-payments
EU gives platforms 3 months to cut off new USDT access
Stack
- USDT is the largest stablecoin by market cap and still unauthorized under MiCA, per ESMA's opinion
- PYUSD, the third-largest stablecoin, is also flagged as non-compliant
- MiCA's stablecoin rules have applied since June 2024, with no USDT authorization filed since
Story
This isn't a ban, it's a front-door lock. Existing EU holders can still sell or withdraw USDT freely; what stops is new buying on authorized exchanges.
Watch
- Watch if Tether files for MiCA authorization before the January deadline
- Watch EU exchange USDT volumes for a drop in new trades versus flat existing balances
Full read: https://stackandstory.com/stories/esma-three-month-deadline-usdt-access
Stack
- USDT is the largest stablecoin by market cap and still unauthorized under MiCA, per ESMA's opinion
- PYUSD, the third-largest stablecoin, is also flagged as non-compliant
- MiCA's stablecoin rules have applied since June 2024, with no USDT authorization filed since
Story
This isn't a ban, it's a front-door lock. Existing EU holders can still sell or withdraw USDT freely; what stops is new buying on authorized exchanges.
Watch
- Watch if Tether files for MiCA authorization before the January deadline
- Watch EU exchange USDT volumes for a drop in new trades versus flat existing balances
Full read: https://stackandstory.com/stories/esma-three-month-deadline-usdt-access
Bitcoin ETFs erase a month of inflows in one session
Stack
- $485M left Bitcoin ETFs Wednesday, the biggest daily outflow since June 25
- IBIT swung from +$122M to -$207.7M in 24 hours
- Ether ETFs just logged their 7th straight outflow day, -$569M since Sept 29
Story
One session wiped out four days of inflows. ETF wrappers aren't smoothing Bitcoin exposure anymore, they're moving at the same speed as the spot panic.
Watch
- October's net flow: does it stay negative through month-end or snap back in days?
- IBIT's share of outflows vs its share of AUM, confirming or denying the exit-valve pattern
Full read: https://stackandstory.com/stories/bitcoin-etfs-erase-october-gains-in-one-day
Stack
- $485M left Bitcoin ETFs Wednesday, the biggest daily outflow since June 25
- IBIT swung from +$122M to -$207.7M in 24 hours
- Ether ETFs just logged their 7th straight outflow day, -$569M since Sept 29
Story
One session wiped out four days of inflows. ETF wrappers aren't smoothing Bitcoin exposure anymore, they're moving at the same speed as the spot panic.
Watch
- October's net flow: does it stay negative through month-end or snap back in days?
- IBIT's share of outflows vs its share of AUM, confirming or denying the exit-valve pattern
Full read: https://stackandstory.com/stories/bitcoin-etfs-erase-october-gains-in-one-day
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Bitcoin, Ether ETFs bleed $986M in October outflows
Stack
- Bitcoin ETFs lost $485M in one day Wednesday, the worst since June 25
- Ether ETFs just posted their 8th straight outflow day, $641M total
- Combined October outflows hit $986.3M while BTC fell to a 3-week low
Story
This isn't profit-taking after a rally, it's capital leaving faster than buyers can replace it. One Bitcoin ETF session erased nearly half the month's prior outflows.
Watch
- Watch for a single day of $200M+ Bitcoin ETF inflows breaking the trend
- Watch whether Ether ETFs post any positive-flow day after 8 straight losses
Full read: https://stackandstory.com/stories/bitcoin-ether-etf-october-outflows-1b
Stack
- Bitcoin ETFs lost $485M in one day Wednesday, the worst since June 25
- Ether ETFs just posted their 8th straight outflow day, $641M total
- Combined October outflows hit $986.3M while BTC fell to a 3-week low
Story
This isn't profit-taking after a rally, it's capital leaving faster than buyers can replace it. One Bitcoin ETF session erased nearly half the month's prior outflows.
Watch
- Watch for a single day of $200M+ Bitcoin ETF inflows breaking the trend
- Watch whether Ether ETFs post any positive-flow day after 8 straight losses
Full read: https://stackandstory.com/stories/bitcoin-ether-etf-october-outflows-1b
Thailand caps crypto ETFs at bitcoin and ether, rules live Oct. 16
Stack
- Only bitcoin and ether qualify under Thailand's new SEC rules
- Rules take effect Oct. 16, about a week after the announcement
- New custody, exposure, and trading requirements apply to both assets
Story
This reads like Thailand opening up to crypto ETFs. It's actually Thailand picking two winners and freezing everyone else out of the wrapper.
Watch
- Does a third asset get added within 12 months of Oct. 16?
- What custody standard does any new addition have to meet?
Full read: https://stackandstory.com/stories/thailand-sec-bitcoin-ether-etf-rules
Stack
- Only bitcoin and ether qualify under Thailand's new SEC rules
- Rules take effect Oct. 16, about a week after the announcement
- New custody, exposure, and trading requirements apply to both assets
Story
This reads like Thailand opening up to crypto ETFs. It's actually Thailand picking two winners and freezing everyone else out of the wrapper.
Watch
- Does a third asset get added within 12 months of Oct. 16?
- What custody standard does any new addition have to meet?
Full read: https://stackandstory.com/stories/thailand-sec-bitcoin-ether-etf-rules
France taxed crypto swaps, then killed its own budget
Stack
- Oct 10: French committee adopts stablecoin swap tax and crypto exit tax in same session
- Same session: committee rejects the 2027 budget's entire revenue section
- Exit tax mirrors France's existing equity capital-flight rules for wealthy holders
Story
A tax amendment passing committee means nothing if the bill carrying it just got voted down. Watch for the reintroduction, not the headline vote.
Watch
- Does France reintroduce the revenue section with the amendments intact before year-end
- Does any EU state copy the stablecoin-swap-as-disposal language into its own tax code
Full read: https://stackandstory.com/stories/france-stablecoin-swap-exit-tax-budget-rejected
Stack
- Oct 10: French committee adopts stablecoin swap tax and crypto exit tax in same session
- Same session: committee rejects the 2027 budget's entire revenue section
- Exit tax mirrors France's existing equity capital-flight rules for wealthy holders
Story
A tax amendment passing committee means nothing if the bill carrying it just got voted down. Watch for the reintroduction, not the headline vote.
Watch
- Does France reintroduce the revenue section with the amendments intact before year-end
- Does any EU state copy the stablecoin-swap-as-disposal language into its own tax code
Full read: https://stackandstory.com/stories/france-stablecoin-swap-exit-tax-budget-rejected
Ether ETFs bleed nine days straight, Solana's streak finally breaks
Stack
- Ether spot ETFs just posted a 9th straight day of net outflows
- Solana ETFs snapped a 14-week inflow streak, the longest on record
- Bitcoin ETFs also logged net outflows the same week
Story
One week, three ETF categories in the red, but it's not one story. Ether's bleed is slow and grinding; Solana's break ends a 14-week run in five days, which is the sharper signal.
Watch
- A second straight week of Solana ETF outflows confirms a real trend shift
- Ether ETFs breaking their streak within 5 trading days points to a Solana-specific move instead
Full read: https://stackandstory.com/stories/ether-etfs-nine-day-outflows-solana-streak-snaps
Stack
- Ether spot ETFs just posted a 9th straight day of net outflows
- Solana ETFs snapped a 14-week inflow streak, the longest on record
- Bitcoin ETFs also logged net outflows the same week
Story
One week, three ETF categories in the red, but it's not one story. Ether's bleed is slow and grinding; Solana's break ends a 14-week run in five days, which is the sharper signal.
Watch
- A second straight week of Solana ETF outflows confirms a real trend shift
- Ether ETFs breaking their streak within 5 trading days points to a Solana-specific move instead
Full read: https://stackandstory.com/stories/ether-etfs-nine-day-outflows-solana-streak-snaps
Ledger implant linked to $86M losses reignites ETF-vs-cold-wallet debate
Stack
- Ledger hardware implant losses could top $86M, per blockchain investigators
- Coldcard and Ledger both disclosed separate incidents within the same week
- Strategy added 250 BTC that week, lifting holdings to 848,250 BTC
Story
This isn't self-custody losing to ETFs. It's a supply-chain and phishing failure at one vendor, dressed up as a verdict on cold storage itself.
Watch
- Watch for Ledger/Coldcard to publish a revised threat model or attestation fix
- Watch for a second, unrelated vendor compromise confirming an industry-wide pattern
Full read: https://stackandstory.com/stories/ledger-implant-bitcoin-etfs-safer-custody
Stack
- Ledger hardware implant losses could top $86M, per blockchain investigators
- Coldcard and Ledger both disclosed separate incidents within the same week
- Strategy added 250 BTC that week, lifting holdings to 848,250 BTC
Story
This isn't self-custody losing to ETFs. It's a supply-chain and phishing failure at one vendor, dressed up as a verdict on cold storage itself.
Watch
- Watch for Ledger/Coldcard to publish a revised threat model or attestation fix
- Watch for a second, unrelated vendor compromise confirming an industry-wide pattern
Full read: https://stackandstory.com/stories/ledger-implant-bitcoin-etfs-safer-custody
Sberbank gets state approval for crypto trading before December
Stack
- Russia's crypto exchange registry doubled from 4 to 10 operators in one week
- Digital custodians rose from 5 to 6, including both Sberbank and VTB
- USDT trades alongside BTC and ETH from Sberbank's December 1 launch
Story
Two sanctioned banks just got licensed custody and exchange status for dollar-pegged stablecoins. That's settlement infrastructure, not a trading app for retail customers.
Watch
- USDT volume share versus BTC/ETH after December 1 launch
- Any OFAC or Treasury statement naming Sberbank's crypto arm directly
Full read: https://stackandstory.com/stories/sberbank-clears-crypto-trading-december
Stack
- Russia's crypto exchange registry doubled from 4 to 10 operators in one week
- Digital custodians rose from 5 to 6, including both Sberbank and VTB
- USDT trades alongside BTC and ETH from Sberbank's December 1 launch
Story
Two sanctioned banks just got licensed custody and exchange status for dollar-pegged stablecoins. That's settlement infrastructure, not a trading app for retail customers.
Watch
- USDT volume share versus BTC/ETH after December 1 launch
- Any OFAC or Treasury statement naming Sberbank's crypto arm directly
Full read: https://stackandstory.com/stories/sberbank-clears-crypto-trading-december
USDC becomes the first dollar stablecoin under MiCA's toughest tier
Stack
- USDC: $73B market cap vs Tether's $184B, per Cointelegraph
- Only 45 tokens held "significant" status before USDC
- ECB's digital euro isn't expected before 2029
Story
This reads like a crackdown but EU issuers lobbied for it. Dollar stablecoins are becoming eurozone payment rails, and Circle just got the compliance stamp that makes that official.
Watch
- Watch Circle's EU reserve reporting for tighter terms under joint ACPR-EBA oversight
- Watch whether USDC's euro-area volume gains on USDT after the classification
Full read: https://stackandstory.com/stories/eu-classifies-usdc-significant-mica
Stack
- USDC: $73B market cap vs Tether's $184B, per Cointelegraph
- Only 45 tokens held "significant" status before USDC
- ECB's digital euro isn't expected before 2029
Story
This reads like a crackdown but EU issuers lobbied for it. Dollar stablecoins are becoming eurozone payment rails, and Circle just got the compliance stamp that makes that official.
Watch
- Watch Circle's EU reserve reporting for tighter terms under joint ACPR-EBA oversight
- Watch whether USDC's euro-area volume gains on USDT after the classification
Full read: https://stackandstory.com/stories/eu-classifies-usdc-significant-mica
Evernorth puts its $648M XRP pile to work lending
Stack
- Evernorth's XRP treasury sits at $648 million, per The Block
- Four counterparties named: Ripple, Kraken, Coinbase, BitGo
- XRP has no native staking yield, unlike proof-of-stake assets
Story
XRP pays nothing just sitting in a wallet, so Evernorth has to lend it out to earn anything. That means real counterparty risk, and Ripple being one of the four lenders concentrates it instead of spreading it.
Watch
- Watch Evernorth's next filing for actual yield rates and per-counterparty allocation
- Watch for any disclosed change in Kraken or Coinbase XRP lending terms
Full read: https://stackandstory.com/stories/evernorth-xrp-treasury-yield-strategy
Stack
- Evernorth's XRP treasury sits at $648 million, per The Block
- Four counterparties named: Ripple, Kraken, Coinbase, BitGo
- XRP has no native staking yield, unlike proof-of-stake assets
Story
XRP pays nothing just sitting in a wallet, so Evernorth has to lend it out to earn anything. That means real counterparty risk, and Ripple being one of the four lenders concentrates it instead of spreading it.
Watch
- Watch Evernorth's next filing for actual yield rates and per-counterparty allocation
- Watch for any disclosed change in Kraken or Coinbase XRP lending terms
Full read: https://stackandstory.com/stories/evernorth-xrp-treasury-yield-strategy
Thailand opens crypto ETFs Friday, CoinShares sees a slow start
Stack
- Hong Kong holds 0.42% of the $172.9B global crypto ETP pool despite its hub status
- Thai investors already route into Bitcoin via MFC's tracker fund since 2024
- CoinShares pegs Thailand's first inflows at tens of millions, not billions
Story
Regulating access doesn't create demand from nothing. Thailand's own feeder funds into BlackRock's IBIT have existed since 2024, so the new ETFs have to pull money away from something that already works.
Watch
- Confirmed launch date from MFC or ONE Asset Management
- First-week AUM versus the tens-of-millions marker
- Whether overseas ETF broker access widens past institutional and UHNW investors
Full read: https://stackandstory.com/stories/thailand-crypto-etfs-hong-kong-problem
Stack
- Hong Kong holds 0.42% of the $172.9B global crypto ETP pool despite its hub status
- Thai investors already route into Bitcoin via MFC's tracker fund since 2024
- CoinShares pegs Thailand's first inflows at tens of millions, not billions
Story
Regulating access doesn't create demand from nothing. Thailand's own feeder funds into BlackRock's IBIT have existed since 2024, so the new ETFs have to pull money away from something that already works.
Watch
- Confirmed launch date from MFC or ONE Asset Management
- First-week AUM versus the tens-of-millions marker
- Whether overseas ETF broker access widens past institutional and UHNW investors
Full read: https://stackandstory.com/stories/thailand-crypto-etfs-hong-kong-problem
Ripple Prime now lets clients trade stocks as perpetuals, 24/7
Stack
- Hyperliquid has processed over $1 trillion in cumulative perpetuals volume since launch
- Ripple's Hidden Road deal, the base of Ripple Prime, closed near a $1.25B valuation
- Traditional markets sit closed roughly 16 hours a day plus weekends, the exact gap this fills
Story
This is a credit and venue play dressed as tokenization. Ripple Prime holds the collateral risk, Hyperliquid supplies the price, and the client gets weekend stock exposure priced off a derivative of a derivative.
Watch
- Watch Ripple Prime's disclosed notional volume on these swaps next quarter
- Watch for funding-rate divergence on RWA perpetuals versus the underlying asset's normal volatility
Full read: https://stackandstory.com/stories/ripple-prime-rwa-perpetual-swaps-hyperliquid
Stack
- Hyperliquid has processed over $1 trillion in cumulative perpetuals volume since launch
- Ripple's Hidden Road deal, the base of Ripple Prime, closed near a $1.25B valuation
- Traditional markets sit closed roughly 16 hours a day plus weekends, the exact gap this fills
Story
This is a credit and venue play dressed as tokenization. Ripple Prime holds the collateral risk, Hyperliquid supplies the price, and the client gets weekend stock exposure priced off a derivative of a derivative.
Watch
- Watch Ripple Prime's disclosed notional volume on these swaps next quarter
- Watch for funding-rate divergence on RWA perpetuals versus the underlying asset's normal volatility
Full read: https://stackandstory.com/stories/ripple-prime-rwa-perpetual-swaps-hyperliquid
XRP funds buck the ETF outflow trend as Bitcoin bleeds $151M
Stack
- Bitcoin ETFs: $262M out Wednesday, $151M net outflow for the week
- Ether ETFs: $190M weekly outflow after $542M the week before
- XRP ETFs: only category with positive weekly flows, $740K Wednesday
Story
Everyone's calling this a crypto risk-off week. The flow data says it's a Bitcoin problem specifically, XRP funds took in cash the same day Bitcoin lost $262M.
Watch
- Watch whether XRP ETF flows stay positive through the next SoSoValue weekly report
- Watch if Solana's eight-session outflow streak breaks
Full read: https://stackandstory.com/stories/xrp-etfs-buck-bitcoin-outflow-trend
Stack
- Bitcoin ETFs: $262M out Wednesday, $151M net outflow for the week
- Ether ETFs: $190M weekly outflow after $542M the week before
- XRP ETFs: only category with positive weekly flows, $740K Wednesday
Story
Everyone's calling this a crypto risk-off week. The flow data says it's a Bitcoin problem specifically, XRP funds took in cash the same day Bitcoin lost $262M.
Watch
- Watch whether XRP ETF flows stay positive through the next SoSoValue weekly report
- Watch if Solana's eight-session outflow streak breaks
Full read: https://stackandstory.com/stories/xrp-etfs-buck-bitcoin-outflow-trend
Circle plans USDC launch in 50 emerging markets, still stuck at 25% share
Stack
- USDC circulation: $73.3B, roughly a quarter of the stablecoin market
- Tether's USDT holds nearly 60% of that same market
- Circle paid $400M for Tazapay to enter new payment corridors
Story
Circle's expansion targets markets USDT already dominates. The growth story is about winning banks and payment firms with regulatory packaging, not catching Tether on volume.
Watch
- Does USDC's market share move past 25% in Circle's next circulation report?
- Does Circle disclose named bank or payment-firm integrations in the 50 target markets?
Full read: https://stackandstory.com/stories/circle-50-markets-usdc-tether-gap
Stack
- USDC circulation: $73.3B, roughly a quarter of the stablecoin market
- Tether's USDT holds nearly 60% of that same market
- Circle paid $400M for Tazapay to enter new payment corridors
Story
Circle's expansion targets markets USDT already dominates. The growth story is about winning banks and payment firms with regulatory packaging, not catching Tether on volume.
Watch
- Does USDC's market share move past 25% in Circle's next circulation report?
- Does Circle disclose named bank or payment-firm integrations in the 50 target markets?
Full read: https://stackandstory.com/stories/circle-50-markets-usdc-tether-gap