💵 Tether launches $400M USDT-linked private credit fund
Tether has announced a $400 million private credit fund linked to its USDT stablecoin, marking a significant expansion of the company's financial products beyond stablecoin issuance.
The fund represents Tether's latest move into traditional credit markets using its stablecoin infrastructure as a foundation, continuing a broader trend of stablecoin issuers diversifying into yield-generating financial instruments.
💵 Circle Acquires Payout Infrastructure in $400M Deal
Circle is spending $400 million on an acquisition aimed at solving what it describes as the "last mile" problem — connecting stablecoins to real-world payment disbursements.
The deal is designed to tighten Circle's control over regulated payout infrastructure, enabling stablecoin settlements to reach end recipients more directly. Under the arrangement, partner banks involved in the network would retain their own risks and regulatory duties.
The move comes as Circle, issuer of the USDC stablecoin, pushes deeper into payments infrastructure ahead of its planned IPO, positioning USDC as a practical settlement layer for real-world financial flows rather than purely a crypto-native asset.
DRW's Cumberland, one of crypto's oldest market makers, has been accumulating PONS — the leading token on Robinhood Chain's launchpad — with its wallet adding 2.7 million tokens on Sept. 11, bringing its total position to 11.2 million PONS. The token is up 1,384% from its lows.
Cumberland is the crypto trading arm of Chicago-based DRW and a prominent institutional market maker. Its accumulation of PONS marks notable institutional interest in Robinhood Chain's emerging token ecosystem.
Real-world asset (RWA) perpetual trading volume has surpassed $120 billion, representing a sharp increase recorded in less than a year.
The milestone reflects growing trader interest in tokenized real-world assets as an on-chain derivatives category. RWA perpetuals allow exposure to tokenized versions of traditional assets — such as bonds, commodities, or real estate — through decentralized trading infrastructure.
The rapid volume growth positions RWA perpetuals as one of the faster-expanding segments within on-chain derivatives markets.
🔐 Nomic bug left Alloyed BTC 36% undercollateralized for 74 days
A software flaw in Nomic quietly erased a third of the backing behind Alloyed BTC, a wrapped Bitcoin asset on the Osmosis DEX — and went undetected for 74 days.
According to Osmosis, the bug caused a 36% shortfall in the fund's collateral without triggering any alerts or visible on-chain anomalies during that period. The issue has since been identified and disclosed by the Osmosis team.
The incident highlights ongoing risks in DeFi infrastructure, particularly around wrapped asset protocols where collateral integrity is critical but not always continuously monitored.
⚖️ DOJ and OFAC shut down $24B crypto black market
U.S. authorities have dismantled a major crypto money laundering network, seizing Telegram channels and two wallets tied to a $24 billion black market operation.
The Department of Justice executed seizures while the Treasury's OFAC sanctioned Xinbi alongside developers behind SafeW and XinbiPay. The crackdown triggered a flight response among rival money laundering networks, which began abandoning their operations following the enforcement action.
The takedown highlights continued U.S. pressure on crypto-based illicit finance infrastructure, particularly networks operating through encrypted messaging platforms like Telegram.
⚖️ Armstrong: US crypto clarity coming with or without CLARITY Act
Coinbase CEO Brian Armstrong says the US crypto industry will gain regulatory clarity regardless of whether the CLARITY Act passes its key Senate vote on September 15.
Speaking to CNBC, Armstrong said Congress passing the bill remains the preferred path, noting it could unlock institutional capital. However, he added that action from the SEC and CFTC could serve as a fallback if the legislation stalls in the Senate.
The CLARITY Act is one of the most significant crypto market structure bills currently moving through Congress, with its September 15 Senate test widely watched as a milestone for US digital asset regulation.