DeFi

1H 2026 commerce and B2B settlement skewed to USDT, while June transfer volume and velocity concentrated in USDC on Base.

The July 7 report urges uniform MiCA enforcement and asks the Commission to assess perimeter gaps like lending, NFTs and staking.

Early analysis points to a flash-loan accounting manipulation in automated USDC vaults routed across Aave and Morpho.

TRM Labs logged 207 incidents in H1, while Q2 losses hit $807.5M and wallet compromises led the damage.

The proposal lands as non-empty wallets rise by 14,783 since June 23 and ADA rebounds to about $0.20.

He ties stablecoin-led onchain cash balances to future demand for yield-bearing tokenized products as DeFi plumbing lags.

The QCATP model could keep UK order flow tied to global venues, yet “comparable” jurisdiction criteria remain undefined.

Tokenized assets reached a $3.5B record and prediction markets gained traction, while funding fell to 3% from 11% in two days.

TRM and Elliptic say activity is shrinking post-sanctions and post-Grinex, with circular flows inflating prints.

The launch pairs tokenized equities in 120+ countries with a self-custody USDG lending product targeting an estimated 7% APY.

The bank warned CRCL headwinds may persist as a 140+ member stablecoin consortium targets distribution economics.

The bank also spotlights Hyperliquid-style fee capture and initiates coverage on FWDI and CYPH as treasury operators.

Yield routes through Veda into Aave and Morpho, while card spending is described as Monad-only and UK/EU users are excluded.

A Mythos-class model meant for broad use, Claude Fable 5, was later suspended after a US government directive.

Co-founder Michael Anderson framed stablecoins as onchain capital for asset-backed lending against real-world collateral.

The analysis ties mid-June cuts to weak volumes, funding, and retail activity about eight months after bitcoin topped.

The nonbinding resolution lands days after MiCA’s July 1 CASP authorization deadline and asks the Commission to assess lending, NFTs, and DeFi.

The listing names the Hyper Foundation website and Hyperliquid trading app and is framed as a consumer warning, not a ban.

The measure also carves out permissionless, private dollar stablecoins and awaits an expected Wednesday signature.

Jeff Walton pointed to sharp intraday rebounds and unusually large volumes as evidence of liquidation-driven flow.