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Every story we’ve tagged stablecoins. Centralised issuers (Tether, Circle, First Digital), decentralised designs (DAI/Sky, Frax, Ethena), and the regulated-bank-issued tokens starting to compete with both. Transfer volume across major stablecoins regularly exceeds $500B/week and sits at the centre of most DeFi activity, cross-border payment flows, and on-ramp/off-ramp mechanics.

About this tag

Coverage focus:

  • Reserve transparency — attestations vs full audits, asset composition, and where each issuer invests reserves
  • Regulatory developments — GENIUS Act (US), MiCA (EU), Hong Kong’s licensing regime, and how each framework categorises interest-bearing stablecoins
  • Depeg events — the mechanics of every significant deviation (Terra/Luna, USDC in March 2023, smaller depegs since) and what they tell us about backing models
  • Bank-issued alternatives — JPM Coin, Société Générale’s EURCV, regulated deposit tokens that compete with commercial-bank stablecoin issuers
  • Yield-bearing designs — Ethena’s USDe, synthetic dollars, and the distinction between “stablecoin” and “tokenised yield strategy”

For a grounded read on the regulatory picture, the GENIUS Act explainer is the longest-form piece we’ve written on the topic. Live market data for the major stablecoins: USDT, USDC, DAI, USDe.