Stable Secures $28M to Develop USDT-Centric Blockchain for Global Payments

In a significant move for the cryptocurrency sector, Stable has raised $28 million in seed funding to build a blockchain specifically optimized for Tether's USDT. The funding round was led by Bitfinex and Hack VC, with notable participation from Franklin Templeton, Castle Island Ventures, and KuCoin Ventures. High-profile angel investors, including Tether CEO Paolo Ardoino and Braintree founder Bryan Johnson, also joined the initiative. Dubbed 'stablechain,' this new blockchain aims to solidify USDT's position as the backbone for global digital payments. The project underscores the growing demand for stablecoin infrastructure and could further accelerate the adoption of USDT in cross-border transactions and decentralized finance (DeFi). With this development, Stable is poised to play a pivotal role in shaping the future of blockchain-based financial systems, leveraging USDT's liquidity and stability to drive innovation in global payments.

Stable Raises $28M to Build Tether-Centric Blockchain for Global Payments

Stable, a developer creating a blockchain optimized for Tether's USDT, has secured $28 million in seed funding. The round was led by Bitfinex and Hack VC, with participation from Franklin Templeton, Castle Island Ventures, and KuCoin Ventures. Tether CEO Paolo Ardoino and Braintree founder Bryan Johnson also joined as angel investors.

The new 'stablechain' aims to position USDT as the backbone for global digital payments by combining fast settlement, low fees, and price stability. The funding follows the recent passage of the GENIUS Act, which establishes regulatory guidelines for stablecoins like USDT.

"Current payment infrastructure has failed to meet global demand for fast, reliable transactions," said Stable CEO Joshua Harding. The blockchain will roll out in three phases in 2024, starting with USDT gas fees and sub-second block times, followed by enterprise payment features and developer tools.

TRON Surpasses Ethereum as Dominant USDT Settlement Layer Amid Growth and Governance Concerns

TRON has emerged as the primary blockchain for Tether's USDT transactions, processing 2.3-2.4 million daily transfers—seven times Ethereum's volume—with its supply reaching $80.8 billion by mid-2025. The network's gasless transaction model and low fees have fueled adoption, though questions linger about centralized governance and limited DeFi integration.

Stablecoin activity now defines TRON's competitive edge, with CryptoQuant data showing its USDT supply overtaking Ethereum's $73.8 billion. "TRON positioned itself as the preferred network for USDT," analysts note, highlighting how staking mechanics and sponsored transactions eliminate user costs.

While the metrics signal short-term success, the ecosystem faces scrutiny. Critics point to TRON's trade-offs: streamlined efficiency comes at the expense of decentralized finance complexity, potentially limiting long-term innovation pipelines.

KuCoin Ventures Invests in Stable, the First USDT-Powered Stablechain

KuCoin Ventures, the investment arm of global cryptocurrency exchange KuCoin, has made a strategic investment in Stable, a new Layer 1 blockchain designed exclusively for stablecoin issuance, settlement, and payments. Dubbed a "Stablechain," the platform is powered by USDT and backed by key figures from Tether and Bitfinex, including Bitfinex CTO Paolo Ardoino as an advisor.

The funding round saw participation from prominent investors such as Hack VC, Franklin Templeton, and KuCoin Ventures, underscoring growing interest from both crypto-native and traditional financial institutions in stablecoin infrastructure. Unlike general-purpose blockchains like ethereum or Tron, Stable is purpose-built to address pain points in on-chain payments, including volatile fees and slow confirmation times.

"Payments infrastructure globally requires an overhaul," said Joshua Harding, Co-founder of Stable. The project aims to embed payment-centric functionality at the protocol level, offering a more efficient and reliable user experience for stablecoin transactions.

Tether Posts $4.9B Q2 Profit, Allocates $4B to U.S. Initiatives

Tether International Ltd., the entity behind the USDT stablecoin, reported a staggering $4.9 billion net profit for the second quarter. Reserves now stand at $162.5 billion against $157.1 billion in liabilities, with excess reserves reaching $5.4 billion. The firm's exposure to U.S. Treasuries surged past $127 billion as it issued over $13 billion in USDT during the period.

Year-to-date profits include $3.1 billion from recurrent operations and $2.6 billion from mark-to-market gains on gold and Bitcoin holdings. Tether's BTC reserves now total approximately 83,200 tokens, valued at $8.9 billion as of June 30.

The company is deploying capital into artificial intelligence, renewable energy, and digital communications, with $4 billion already committed to U.S.-based ventures. Notable investments include bitcoin treasury firm XXI Capital, video platform Rumble, and development of Tether's proprietary crypto wallet.

Tether Expands Dominance with Record USDT Growth and Strategic Asset Backing

Tether's 2025 expansion is rewriting the rules of stablecoin dominance. The issuer added $20 billion in USDT circulation within six months, with TRON's blockchain now hosting 89 billion tokens—surpassing Ethereum's 79 billion. This growth isn't speculative: it's underpinned by $127 billion in U.S. Treasuries, including $8 billion acquired in Q2 alone. Tether now ranks among the world's largest sovereign debt holders.

The company's $5.7 billion H1 profit reveals a dual-engine strategy. While USDT drives adoption, Tether's 77,780 BTC position—valued at $9.2 billion—generated $2.6 billion from crypto and gold investments. With Bitcoin hitting $123,000 and gold gaining 16%, these reserves serve as both profit center and collateral fortress against rivals like USDC.

CoinDCX Software Engineer Arrested After $44 Million Crypto Exchange Hack

Bengaluru police have arrested Rahul Agarwal, a 30-year-old software engineer at India's largest cryptocurrency exchange CoinDCX, in connection with a $44 million theft that occurred in July 2025. The breach unfolded after hackers posed as recruiters offering freelance work, tricking Agarwal into installing malware on his company laptop.

Investigators revealed the attackers used Agarwal's compromised credentials to initiate a small test transaction of one USDT token before siphoning $44 million across six crypto wallets. While Agarwal denied involvement, police discovered $17,000 from unknown sources in his bank account. Blockchain investigator ZachXBT first identified the suspicious activity, which targeted CoinDCX's operational wallet—separate from customer funds, leaving user assets unaffected.