Stablecoin

ZachXBT alleged Circle’s USDC compliance actions were inconsistent across 15 documented incidents since 2022, involving more than $420 million in illicit stablecoin flows that were not frozen in time. The thread highlights events including the April 1, 2026 Drift Protocol exploit and a March 23, 2026 New York civil-case-related freeze affecting 16 unrelated business wallets, five of which were later unfrozen.

Tron posted $81.1 million in trailing 30-day revenue in Q1 2026 while network fees fell to about 15–20 million, their lowest level since 2023. Data cited in the report shows active usage rising toward 4–5 million addresses, alongside a separate ranking that listed 13.8 million 30-day active addresses. Tron Inc. (NASDAQ: TRON) also disclosed buying 159,004 TRX at an average $0.3145 as TRX traded around $0.31.

Drift Protocol said $285 million was drained from three Solana vaults in about 12 minutes on April 1, 2026, triggering a sharp drop in TVL and a more than 40% fall in the DRIFT token. The attacker then routed roughly $232 million via Circle's CCTP bridge from Solana to Ethereum over 100+ transactions across a six-hour window, prompting ZachXBT to publicly question Circle's response.

Over the past seven days, the stablecoin market added $1.242 billion in net inflows, lifting total capitalization to $317.134 billion as of Saturday, April 4. USDS led weekly movers with a 9.57% increase and more than $779 million in inflows, while USDT remained the largest asset at $184.076 billion and a 58.04% share. Separately, the sector recorded roughly $1.96 trillion in gross transfers, including about $508 billion in authentic settlement volume.

The FDIC is scheduled to hold a board meeting on April 7, 2026 to finalize initial federal rules for stablecoin issuance under the GENIUS Act. The law requires 1:1 backing with cash or short-term U.S. Treasuries and bars issuers from paying interest, even as issuers already keep over 80% of a $250 billion-plus reserve pool in Treasuries and repos. The framework also sets staged deadlines through 2028 and raises open questions on redemptions, state-federal authority, and operational risks.

Tether has given potential investors a 14-day window to commit to a funding round that targets a $500 billion valuation, with the company signaling the process could be delayed again if commitments do not arrive. The firm is also pursuing a Big Four audit and pointing to investments beyond USDT, while its USDT circulation is cited at about $184–187 billion alongside discussion of a U.S.-regulated stablecoin effort.

Tether is seeking funding at a $500 billion valuation, with investor commitments expected within roughly two weeks. The proposed level would place the USDT issuer above Bank of America if completed, but the deal could be delayed if demand is not strong enough. USDT remains the largest stablecoin at about $184 billion in market cap as Tether also works on steps aimed at improving transparency.

Charles Schwab, which manages nearly $12 trillion in client assets, says it plans to launch spot Bitcoin and Ethereum trading this quarter while offering early access via a "Schwab Crypto" waitlist. The move is framed as a step toward bringing crypto into the same brokerage workflow used for stocks and ETFs, potentially amplifying institutional participation. Meanwhile, stablecoin growth continues to underpin DeFi liquidity, with total stablecoin market cap up 3.3% year-to-date and more than $1 billion added this week.

Ripple said it posted an April 2 update on X about its $15 million RLUSD contribution to Accion Opportunity Fund, outlining lending activity and employment effects tied to U.S. small businesses. The company cited results including $53.6M in capital deployed, 905 loans to 895 borrowers, a $59K average loan size, and 1,003 jobs created with 1,631 retained.

NovaBay Pharmaceuticals is shifting away from its legacy pharma operations and repositioning around crypto, including an on-chain treasury approach tied to token holdings and staking. The company said in a Form 8-K that it will adopt the name Stablecoin Development Corporation and start trading under the ticker SDEV on NYSE American on 3 April.