Stablecoin

Trump signed the GENIUS Act into law on July 19, 2025, establishing the first federal stablecoin regulatory framework.

Decentralized finance total value locked exceeds $200 billion across all chains for the first time since the 2021 bull run, driven by stablecoin growth and Ethereum L2 adoption.

Tether reported $6.2 billion in net profit for 2024 as USDT market cap surged past $140 billion, driven by Treasury holdings and ecosystem adoption.

The European Union's Markets in Crypto-Assets regulation became fully enforceable on December 30, 2024, establishing the world's first comprehensive regulatory framework for cryptocurrency.

MakerDAO rebrand to Sky protocol on August 27, 2024, introducing USDS savings vault and SKY governance token as the protocol evolves beyond single-collateral mechanisms.

Ethena's synthetic dollar USDe reaches $2 billion in total supply within two months, delivering 27% APY from perpetual futures funding rates and Ethereum staking.

Ethena's USDe synthetic dollar reached $2 billion in supply by April 2024, supported by a high-yield mechanism combining staked ETH returns with perpetual futures funding arbitrage.

PayPal launched its USD stablecoin (PYUSD) on August 7, 2023, marking the first major traditional finance firm to issue its own token on public blockchains.

Paxos has launched the Paxos Standard Token following authorization from the New York State Department of Financial Services, making it one of the first regulated stablecoins.

The Gemini Trust Company, founded by the Winklevoss twins, has launched the Gemini Dollar stablecoin following regulatory approval from the New York Department of Financial Services.

MakerDAO has increased DAI stablecoin's debt ceiling through community voting, enabling the stablecoin supply to reach $100 million as demand for the cryptocurrency-collateralized asset grows.