Stablecoin

SpaceX moved 1,083 BTC worth approximately $99.81 million to Coinbase Prime Custody addresses, data show. The USPD stablecoin suffered a $1 million exploit through a CPIMP attack that compromised proxy-layer logic during deployment on September 16, 2025. A Cloudflare outage disrupted access to major exchanges including Coinbase, Kraken, and Upbit.

AlphaTON Capital filed a $420.69 million shelf registration with U.S. securities regulators, enabling on-demand capital raising for TON ecosystem expansion. The Nasdaq-listed firm plans to deploy proceeds across AI compute infrastructure, mini-app acquisitions, and blockchain payment platforms. AlphaTON manages substantial Toncoin reserves and maintains strategic partnerships with BitGo, Animoca Brands, and other institutional players.

The International Monetary Fund published a 56-page departmental paper on December 2, 2025, warning that foreign-currency stablecoins can accelerate currency substitution in economies with weak institutions. Approximately 97% of the $300+ billion stablecoin market references the U.S. dollar, with concentration in USDT and USDC issuance. The fund recommends harmonized legal definitions, strict reserve standards, and cross-border supervisory coordination to prevent jurisdictional arbitrage.

JPMorgan analysts project the U.S. stablecoin market will grow to approximately $700 billion in the coming years, significantly below the White House's $2-4 trillion target for 2028-2030. Teresa Ho, Head of U.S. short-duration strategy at JPMorgan, expressed doubt about rapid multi-trillion dollar expansion despite positive momentum following the GENIUS Act. The sector surpassed $300 billion in total market supply after the legislation passed in July.

The International Monetary Fund published a 56-page report Thursday warning that foreign currency-denominated stablecoins pose risks to national monetary sovereignty. The analysis highlights how dollar-pegged tokens enable instant digital dollar access via smartphones, bypassing traditional banking systems. The IMF cautioned that widespread stablecoin adoption could weaken central banks' ability to manage domestic liquidity and interest rates, particularly once these digital assets become embedded in payments and savings patterns.

China's central bank escalated its crackdown on digital assets by explicitly designating stablecoins as illegal on November 28. The People's Bank of China convened a multi-agency meeting with financial, judicial, and cybersecurity officials to address rising virtual currency activity. Authorities singled out Tether (USDT) and Circle's USDC, stating they lack customer identification and anti-money laundering safeguards required under the country's 2021 cryptocurrency ban.

The International Monetary Fund published a briefing paper on December 5, 2025, examining regulatory frameworks for stablecoins across the US, UK, Japan, and EU. The IMF warned that rapid stablecoin expansion—now exceeding $300 billion—may generate inefficiencies and regulatory gaps due to divergent national approaches and interoperability challenges.

The International Monetary Fund published a comprehensive stablecoin assessment on December 5, 2025, warning that inconsistent national regulations are creating structural obstacles for oversight and cross-border payments. The fund called for harmonized definitions, uniform reserve requirements, and coordinated supervision as the market exceeds $300 billion. Divergent national frameworks allow issuers to operate from jurisdictions with lighter oversight while serving users in stricter markets, undermining authorities' capacity to monitor reserves and compliance.

The U.S. Commodity Futures Trading Commission authorized spot cryptocurrency trading on federally regulated exchanges for the first time. Acting Chairman Caroline D. Pham announced December 4 that CFTC-registered futures exchanges may now list spot digital assets under federal supervision. The decision ends decades of state-level-only oversight and opens institutional access to compliant spot crypto markets.

Binance will remove FDUSD-denominated margin pairs from cross and isolated markets on December 11, 2025. Borrowing for these pairs ends December 8. The delisting affects over 20 tokens including PENGU, NOT, FLOKI, and ORDI, with all positions force-closed and orders canceled at implementation.