RT Justin Pesola (@JustinPesola3_0)* Ethena's USDtb: Backed by BlackRock's BUIDL treasury fund.* Sky's USDS: Backed by BlackRock's BUIDL treasury fund.* FRAX: Backed by BlackRock's BUIDL treasury fund.Reminder: Securitize is the placement agent, transfer agent & tokenization platform for BlackRock's BUIDL. ...

💥💥💥THE END💥💥💥#sstvi #BamBam #NobelPeacePrize #GenshinImpact #BamBamEP_HOMETOWN #nampingster #HOMETOWN #GUINZLY #FIFAWorldCup #Gaza #GUINZLY #Crypto #BitmeyenSoykırımGazze #Binance #Solana #crash #ipoallotment #zonauang #trump #china #tariffs #Stock #Russia #phaideiTHE HUNTER ✴️ (@TrueGemHunter):⚠️BREAKING ⚠️One of the biggest ever crypto crash in 5 years, last 24 hours worst preforming crypto:$DEXE -70%$KAVA -68%$IOTX -68%$MYX -62%$NEIRO -62%$LUNC -61%$TIA-59%$SSV-59%$FRAX-57%$KAIA -56%$DOG -55%PURE HOROR h ...

Market Crash - Crypto market experienced one of the biggest crashes in 5 years [1] - The last 24 hours saw the worst performing cryptocurrencies [1] Significantly Affected Cryptocurrencies - $DEXE experienced a 70% decrease [1] - $KAVA and $IOTX both experienced a 68% decrease [1] - $MYX and $NEIRO both experienced a 62% decrease [1] - $LUNC experienced a 61% decrease [1] - $TIA and $SSV both experienced a 59% decrease [1] - $FRAX experienced a 57% decrease [1] - $KAIA experienced a 56% decrease [1] - $DOG experienced a 55% decrease [1]

⚠️BREAKING ⚠️One of the biggest ever crypto crash in 5 years, last 24 hours worst preforming crypto:$DEXE -70%$KAVA -68%$IOTX -68%$MYX -62%$NEIRO -62%$LUNC -61%$TIA-59%$SSV-59%$FRAX-57%$KAIA -56%$DOG -55%PURE HOROR https://t.co/yJcZZmkT4k ...

Core Insights - The report discusses the evolution of stablecoins, highlighting their differences from traditional payment systems like Alipay and the regulatory landscape across various regions, particularly focusing on the implications for China [1][15][20]. Development Stages of Stablecoins - The first stage (2014-2017) saw the emergence of stablecoins like USDT, bitUSD, and bitCNY, aimed at addressing the volatility of cryptocurrencies [1][2][4]. - The second stage (2018-2022) marked significant developments, including the launch of USDC and the Libra project, which drew global regulatory attention [5][6]. - The third stage (2023-present) has seen a resurgence in market capitalization and trading volume, with USDT and USDC leading the recovery [6][7][23]. Regulatory Landscape - The U.S. has adopted a "muddled tolerance" approach to regulation, allowing for innovation while establishing a framework for compliance [20][23]. - The EU and Singapore have implemented strict regulations, which have limited the growth of local stablecoins [21][24]. - Hong Kong is positioned to create a "stablecoin corridor," leveraging its unique status to foster a vibrant stablecoin market [27][28]. Comparison with Alipay - Stablecoins and Alipay share similarities in value stability and transaction convenience, but differ fundamentally in their operational frameworks and regulatory environments [15][18]. - Stablecoins operate on blockchain technology, allowing for global transactions, while Alipay relies on traditional financial systems [18][19]. Strategic Insights for China - The report suggests a "three arrows" strategy for China to gain a competitive edge in the stablecoin market, including offshore RMB stablecoins, a Chinese version of USD stablecoins, and a "global currency" backed by multiple currencies [31][32]. - It emphasizes the need for innovative regulatory frameworks to support the development of stablecoins and their integration into the broader financial ecosystem [30][32].

Stablecoin Landscape - The document lists a variety of stablecoins, including USDT, USDC, BUSD, FDUSD, PYUSD, GUSD, TUSD, USDP, DAI, sUSD, LUSD, FRAX, USDD, USDe, and USD1 [1] - Mentions the question of how many stablecoins are sufficient [1] - Includes potentially misspelled or variant stablecoin names like mUSD, NET, and PYUSD0 [1]

Group 1 - The core viewpoint of the articles revolves around the anticipated interest rate cut by the Federal Reserve, expected to occur in September 2025, with a probability exceeding 90% due to weakening labor markets and soft inflation data [2][10] - The USDH stablecoin auction event on the Hyperliquid platform highlights the evolving role of stablecoin wallets, transforming from mere asset storage tools to critical value hubs connecting DApps and issuers [2][4] - The competition among protocols to establish their native stablecoins, such as USDH and FRAX, underscores the demand for native stablecoins and unified liquidity, revealing the importance of stablecoin wallets in facilitating seamless transactions [4][6] Group 2 - XBIT Wallet's "one-click cross-chain aggregation" feature addresses the complexities of asset switching across different wallets and platforms, enhancing liquidity efficiency for stablecoins [4][9] - The auction results indicate a significant increase in user engagement, with a 217% rise in users participating in Hyperliquid-related transactions within three days, and a peak daily transaction volume of over $80 million using the aggregation feature [9] - The introduction of the "stablecoin yield dashboard" by XBIT Wallet allows users to track their earnings in real-time, significantly improving user experience and engagement in the stablecoin market [6][9] Group 3 - The macroeconomic context of the Federal Reserve's interest rate expectations introduces both uncertainties and opportunities for the stablecoin market, potentially influencing capital flows and risk preferences [10] - XBIT Wallet's innovative features, including cold and hot wallet separation and real-time compliance monitoring, position it well to adapt to new market environments and regulatory changes [9][10] - The ongoing transformation of wallet roles in the stablecoin ecosystem, driven by events like the USDH auction, emphasizes the need for continuous innovation to meet user demands in a changing market landscape [10]

Investment Rating - The report does not explicitly provide an investment rating for the stablecoin industry Core Insights - The stablecoin market is experiencing explosive growth, driven by increased trading frequency in the cryptocurrency market, advantages in payment and settlement, rising geopolitical risks, and a positive cycle of regulatory compliance and institutional adoption [1][18] - Stablecoins are evolving from mere trading tools in the crypto ecosystem to a new financial infrastructure, acting as a bridge between the crypto world and traditional finance [1][30] - The growth drivers for the stablecoin industry are shifting from cryptocurrency trading demand to cross-border payments, with Real World Asset (RWA) tokenization expected to become a new growth driver in the long term [1][18] Summary by Sections What are Stablecoins? - Stablecoins are cryptocurrencies that maintain value stability by being pegged to assets like fiat currencies or commodities, solving the volatility issues of traditional cryptocurrencies while retaining the advantages of blockchain technology [7] Market Size - As of August 5, 2025, the global stablecoin market capitalization is nearly $270 billion, with a compound annual growth rate (CAGR) exceeding 100% from 2020 to 2025. The transaction volume is projected to reach $27.6 trillion in 2024, surpassing traditional payment giants Visa and Mastercard [18][22] Competitive Landscape - As of August 5, 2025, the stablecoin market is dominated by two major players: USDT with a market cap of approximately $164.7 billion (61% market share) and USDC with a market cap of $64.3 billion (24% market share) [22][23] Potential Impacts of Stablecoins - Stablecoins are expected to reshape global financial systems by lowering costs and increasing efficiency in cross-border payments, accelerating financial disintermediation, reinforcing the dominance of the US dollar, and promoting the development of decentralized finance (DeFi) [1][38] Global Regulatory Framework - A global regulatory framework for stablecoins is rapidly forming, transitioning from unregulated growth to structured development. Key regulations include the US GENIUS Act, Hong Kong's Stablecoin Ordinance, and the EU's MiCA regulation, all aiming to establish clear guidelines for stablecoin issuance and operation [2][43][44]

Security Incident - A hacker exploited GMX, resulting in the theft of $42 million in assets [1] - The hacker agreed to return the stolen assets in exchange for a $5 million white-hat bug bounty [1] - $10.49 million FRAX has been returned [1] Asset Recovery and Potential Profit - $32 million in assets were swapped into 11,700 ETH [1] - The 11,700 ETH is now worth $35 million, representing a ~$3 million gain for the hacker [1] Future Actions - The industry is uncertain whether the hacker will return all 11,700 ETH ($35 million) or sell ETH to return $32 million and keep the $3 million profit [1]

Security Incident - GMX was hacked for $42 million [1] - The hacker exchanged $32 million in assets (excluding $FRAX) into 11,700 $ETH and distributed them to 4 new wallets [1] - The hacker bridged $9.65 million to Ethereum and exchanged them into $DAI and $ETH [1]