USDT, USDC and the rest · 13 recent stories
Forta reports that some Keeper wallets displayed dollar values for 32 identified fake USDT tokens, with quotes maintained through restricted pools. Simulated outside sales of all 32 tokens failed, so the displayed balances could not be realised.
Stablecoin supply has dropped by $26.15 billion from its May 2026 peak, according to market data reported by Bitcoin.com News on Saturday, 14 November. Tokenised US Treasury funds are also contracting, which the article links to questions about available capital and dry powder in the market.
dYdX has proposed a v9.9 plan that would reroute USDC deposits and withdrawals so that backing moves from Noble to Injective. The article says existing USDC balances, collateral and open positions would be left unchanged. The story is a proposal and the article gives no timeline for a decision or rollout.
Nakamoto Inc. (NAKA) amended its Kraken loan on 11 November, moving 60 million of the 165 million USDT outstanding from December 2026 to December 2027. The remaining 105 million stays due on 30 June 2027, so no principal is due this year. Kraken now counts the net value of Nakamoto's derivatives toward its collateral tests.
DefiLlama's circulating supply figure for GHO fell 61% after the tracker began excluding idle, pre-minted tokens. The GHO contract on Ethereum still reports 699 million tokens issued, so the drop reflects how circulation is calculated rather than the on-chain total.
Ripple's native stablecoin RLUSD has posted substantial growth in market capitalisation and now ranks seventh among stablecoins by that measure. The article gives no further detail on the figures or drivers.
Thailand's SEC has proposed capping stablecoin deposits and withdrawals at 5 million baht (about $148,000) per customer per day on each licensed platform, with deposits and withdrawals limited separately. Transfers between a customer's own accounts on two licensed Thai platforms are exempt, but the Travel Rule would still apply, and stablecoins may only move between accounts or wallets confirmed as the customer's own. Public comments close on 26 November, and the rules would take effect 60 days after the final announcement.
Ripple's RLUSD stablecoin has overtaken PayPal's PYUSD on market capitalisation, reaching $2.71 billion. The article credits growing institutional adoption and major exchange integrations for its rapid expansion.
Ripple has regained first place from Ethena in monthly stablecoin market growth, with a gain of $258.2 million over the last month. The article does not say which stablecoins drove the increase.
Tron, Tether and Chainalysis have formed a Digital Crime Task Force to proactively trace illicit USDT on Tron and freeze funds before they move. It replaces the T3 unit, which the same trio had built with TRM Labs and which quietly collapsed just weeks earlier.
Visa and eligible companies can now use Western Union's USDPT to settle VisaNet obligations. The stablecoin is issued and custodied by the federally chartered Anchorage Digital Bank.
KPMG has completed a full audit of Tether Gold (XAUT), counting every gold bar behind the token and confirming about $2.2 billion in physical gold backing. It is Tether's second stablecoin to receive a full audit from a Big Four accounting firm.
SoFiUSD, described as the first stablecoin issued by a US national bank, is now live on Polygon's Open Money Stack. It already operates on Ethereum and Solana, so this extends its availability to a third chain.