Stablecoin Reserves: Why Depegs Happen
Stablecoins can lose their dollar peg when reserves fall short or panic causes redemption runs. Learn how reserve mechanics and ratios prevent depegging.
Stablecoins can lose their dollar peg when reserves fall short or panic causes redemption runs. Learn how reserve mechanics and ratios prevent depegging.
Treasury's GENIUS Act proposal includes vague participation liability that could penalize exchanges listing new stablecoins. Comment deadline October 19.
Exchange reserves fell to 2.68M BTC, the lowest since September 2023. Binance lost 41,700 BTC in two weeks as whale stablecoin deposits climbed 40% to $30.5B.
Visa and Mastercard's $1 billion Open USD commitment translated to $468 million in actual reserves at launch, with the gap in how liquidity backing works.
Coinbase Clearing received CFTC approval on September 28 for USDC-native derivatives settlement, completing the firm's vertically integrated stack.
Federal Reserve proposed stablecoin rules 68 days late with yield restrictions. Banks face compressed timeline before January 2027 GENIUS Act deadline.
USDT holds close to 60 percent of stablecoin supply, yet Visa adjusted data shows USDC settling nearly two thirds of the real dollars that actually move.
An unsafe integer downcast let an attacker drain about $1.7M from a dormant Notional Finance escrow contract, and the stolen funds moved to Tornado Cash.
Scott Bessent bet stablecoins would become a big new buyer of US Treasuries. Supply has slipped to a six-month low as the GENIUS Act sends yield elsewhere.
The GENIUS Act set a one-year deadline for stablecoin rules that lapsed in July 2026. Regulators keep drafting while the market held near $303 billion.
Crypto card spending reached $759 million in July, but three programs ran most of it and USDC quietly overtook USDT at the point of sale.
Stablecoin supply fell for a third straight month to $308.3 billion, its longest decline since 2022. On-chain transfers and card top-ups kept climbing.
ENS tokenholders voted to move a $65 million endowment to a five-seat foundation board. A Security Council member found the spending caps unenforced.
The Bank of Italy sent USDC down ten routes and priced every leg. Stablecoin remittances ran 0.30% to 8.96%, and the chain took 0.4%.
Coinbase booked about $130 million of trading revenue in July's first 26 days. Its guided subscription line is set to pass it in Q3.
June stablecoin volume hit a record $1.79 trillion while supply shrank. USDC turned over its float 16 times. USDT managed three.
USDC is the second-largest stablecoin and the most regulation-focused, issued by Circle with reserves held in cash and short-dated US Treasuries. This tag tracks USDC supply changes as a signal of institutional risk appetite, reserve attestations and transparency reporting, the GENIUS Act and MiCA frameworks that shape how compliant stablecoins operate, the freeze actions that test whether USDC behaves like cash or a permissioned asset, and its deep integration across DeFi, exchanges, and payment rails from Solana to Base. Coinliva covers the supply moves, the banking partnerships, the regulatory milestones, and Circle’s earnings as the stablecoin becomes core financial infrastructure.