The post Circle Hit With Criminal Complaint Over 381,000 Stolen USDC Tokens appeared on BitcoinEthereumNews.com.
USDC News Wisconsin prosecutors have filed a criminal complaint against Circle, the issuer of USDC, alleging the company intentionally disobeyed a court order to recover roughly 381,000 stolen tokens for a local scam victim. The misdemeanor obstruction-of-justice charge, unusual against a firm of Circle’s size, sharpens a broader dispute over how much responsibility stablecoin issuers bear for clawing back illicit funds. At the center is a simple question: why does the world’s second-largest stablecoin issuer appear less willing than its rivals to help law enforcement recover money once it settles on-chain. Circle disputes the allegations and has moved to dismiss the case outright. The dispute traces back to a romance scam in Walworth County. In May 2025, a resident received an unsolicited text from a scammer using the name Lenora, who posed as a romantic partner and steered
The post Binance stablecoin outflows hit $115 million a day as liquidity weakens appeared on BitcoinEthereumNews.com.
The collapse of the U.S.-Iran ceasefire on July 8 sent prices back toward $62k, from a brief move into the $64k resistance zone. AMBCrypto reported that shortly after the news broke out, $300 million worth of long positions had been liquidated. The rising leverage and inclination from derivatives traders to catch the market lows, without structural support, was a warning sign of deeper drawdown. There was another factor to keep an eye on. Stablecoin liquidity increases price sensitivity to bearish catalysts Crypto analyst Crypto Onchain drew attention to the liquidity drain seen in the centralized exchange Binance. USD Coin reserves have fallen by 21% over the past month, and Tether saw massive single-day outflows. Source: CryptoQuant Anomalous outflows of $997 million on June 26 and $838 million on July 7 were seen. Together, they have taken Binance stablecoin outflows
The post Circle says it cannot reissue frozen USDC as it seeks dismissal of Wisconsin complaint appeared on BitcoinEthereumNews.com.
Circle has asked a Wisconsin court to dismiss a criminal contempt complaint. It argues it lacks the technical ability to comply with an order requiring it to invalidate frozen USDC and issue replacement tokens to compensate an alleged fraud victim. The filing centers on the technical limits of USDC once it leaves Circle’s custody. While the stablecoin issuer says it can freeze tokens held in third-party wallets by blocklisting addresses, it argues it cannot seize, destroy, or reissue those tokens because it does not control the wallets’ private keys. Circle argues it complied with freeze order but could not reissue USDC The dispute stems from an alleged cryptocurrency scam in which a Wisconsin resident lost more than 381,000 USDC. It was lost after the stablecoins were transferred from Crypto.com to a wallet controlled by an alleged fraudster. Prosecutor
The post Cathie Wood Warns Ripple-Backed OUSD May Not Challenge USDT, USDC appeared on BitcoinEthereumNews.com.
Cathie Wood has said Ripple-backed OpenUSD may struggle to challenge USDT and USDC, even with major corporate names behind it, because stablecoin markets depend on liquidity, trust, collateral use, and daily platform integration. ARK Says Stablecoin Moats Are Built on Use According to the ARK Invest CEO, stablecoins are like the monetary networks that evolve with increasing adoption by user bases, exchanges, wallets, and payment companies. She added that USDT and USDC have already established robust network effects in the crypto trading and payments space and DeFi. In a research note, ARK Invest Director of Digital Assets Lorenzo Valente suggested that OUSD’s odds of supplanting the two biggest stablecoins are low. In his blog post “Why USDT and USDC are harder to kill than crypto Twitter thinks”, Valente also cautioned that many market participants may be overly optimistic a
The post Private Blockchains Are Bigger Bitcoin Risk Than Strategy BTC Sales, JPMorgan appeared on BitcoinEthereumNews.com.
JPMorgan analysts have said Bitcoin’s main long-term risk may not come from Strategy selling BTC, but from banks and large institutions adopting private blockchain systems that do not rely on public crypto networks or tokens. JPMorgan Says Strategy Sales Are Not the Main Bitcoin Threat In a note to clients, JPMorgan analysts, led by Nikolaos Panigirtzoulos, suggested that Strategy’s Bitcoin sales could introduce periodic selling pressure, but they did not view the company as the primary structural threat for Bitcoin. After years of accumulation, strategy has come into the control of about 4% of all bitcoins in circulation, so traders are watching strategy’s moves very closely. “Strategy is not our primary thinking as a structural threat to Bitcoin,” the analysts wrote. The bigger danger is from the traditional finance sector’s adoption of blockchain technology out
The post Hyundai Card Tests Stablecoin Global Payments. appeared on BitcoinEthereumNews.com.
Hyundai Card completed a $20,000 USDT transfer between US and Mexico subsidiaries in seven minutes. The pilot used Avalanche, Tether, and Axiym to test faster blockchain-based corporate payments. Hyundai Card plans Europe trials with Visa and Circle for local currency stablecoin transfers. Hyundai Card has completed a stablecoin-based cross-border payment test between Hyundai Motor subsidiaries in the United States and Mexico, marking a major step toward blockchain-powered corporate settlements. The payment company tested real intercompany transfers using stablecoins, aiming to improve international payment efficiency while exploring new financial infrastructure for global operations. Hyundai Card Completes Stablecoin Transfer Between Hyundai Units Hyundai Card, the payments division of Hyundai Motor Group, said Thursday it has completed a proof-of-concept (PoC) involving stablecoin transfers b
The post Pulsar Money And Arc Partner To Transform Stablecoin Finance In Europe appeared on BitcoinEthereumNews.com.
Pulsar Money, a Web3 financial hub that simplifies using digital money, is pleased to announce its upcoming launch on Arc, the stablecoin-native Layer-1 blockchain built by Circle, the issuer of the USDC stablecoin. The purpose of this partnership is to enable European people to store, exchange, and spend digital currencies seamlessly on the Arc blockchain. Primarily, Pulsar focuses on the European market as a multi-currency stablecoin app and maintains partner infrastructure. Due to the multi-currency nature of Pulsar Money, it is very beneficial, especially for the people of European countries, to seamlessly swap between digital dollars, euros, and pounds as stablecoins in a single app. Users don’t need to convert their stablecoin into any other specific currency for use. Pulsar Money Brings AI-Driven Currency Swaps to Virtual Visa Cards Pulsar Money is also providing
