Stablecoins

The memecoin market on Solana has collapsed to a two-year low, with trading volumes plummeting as traders shift to stablecoins, while overall network activity remains stable.

China’s central bank has reaffirmed its total ban on all cryptocurrency activities, announcing stricter enforcement measures. The news has contributed to a sharp drop in Bitcoin’s price, which fell towards $86,000 amid broader market uncertainty.

Two South Korean police officers, including a chief, have been arrested for accepting bribes from an illegal crypto exchange involved in a €175 million money laundering scheme, highlighting growing concerns about corruption in the digital asset sector.

Africa is launching the ADAPT initiative, a digital trade platform using stablecoins to streamline cross-border payments and boost annual trade by $70 billion, starting with Kenya in 2026.

Major crypto exchanges like Binance and Coinbase are experiencing record inflows of stablecoins, Bitcoin, and Ethereum following recent market corrections, signaling potential significant price movements ahead.

The European Central Bank has issued a stark warning about the risks posed by the rapidly growing stablecoin market, citing potential capital flight from eurozone banks and the threat of a ‘digital bank run’ that could trigger a global financial crisis. However, industry figures counter that stablecoins, with their full reserve requirements, could actually enhance financial stability.