USDT Stability in Focus as Qubic’s Monero Hashrate Dominance Sparks Security Concerns

In a development that has sent shockwaves through the cryptocurrency community, Qubic, led by former IOTA co-founder Sergey Ivancheglo, has claimed control over 51% of Monero's global hashrate. This majority control raises significant concerns about potential 51% attacks, including transaction censorship, block reorganization, and double-spending on the privacy-focused blockchain. Ivancheglo frames this move as a stress test to strengthen Monero against future threats, but the announcement has sparked intense debate among developers and stakeholders. The situation underscores the importance of network security in the crypto space, with potential implications for stablecoins like USDT that rely on robust blockchain infrastructures. As of August 2025, the cryptocurrency market watches closely to see how this development will impact Monero's price stability and broader market confidence in privacy coins.

Qubic Claims Majority Control of Monero Hashrate, Raising 51% Attack Fears

Qubic, a project led by former IOTA co-founder Sergey Ivancheglo, asserts it now commands over 51% of Monero's global hashrate. This threshold grants the ability to reorganize blocks, censor transactions, and potentially execute double-spends on the privacy-centric blockchain.

Ivancheglo positions the move as a stress test to fortify Monero against future threats. The claim has ignited fierce debate among developers and security experts, recalling past 51% attacks on networks like Ethereum Classic and Bitcoin Gold that resulted in multimillion-dollar losses.

Monero's CPU-friendly RandomX algorithm was designed to resist ASIC centralization. Qubic's 'useful proof-of-work' model converts XMR mining rewards into USDT, then burns QUBIC tokens—a deflationary mechanism that simultaneously drains liquidity into its ecosystem. The project's hashrate share surged from under 2% to over 25% between mid-May and late July.

Circle Reports $428 Million Q2 Loss Amid USDC Growth and Arc Blockchain Development

Circle (CRCL) posted a $428 million net loss in Q2 despite significant growth in its USDC stablecoin operations. USDC circulation nearly doubled year-over-year, while on-chain transaction volume surged to $5.9 trillion—a fivefold increase. The company's total revenue ROSE 53% to $658 million, buoyed by higher average USDC balances.

Simultaneously, Circle unveiled plans for Arc, an EVM-compatible layer-1 blockchain designed for enterprise stablecoin payments and capital markets. Arc will use USDC as its native gas token and feature sub-second settlement finality with optional privacy controls. A public testnet is expected within months.

The stablecoin arena grows increasingly competitive. Rivals like Plasma and Stable have already launched dedicated blockchains, while Stripe reportedly develops Tempo. Circle's market share climbed to 28%, but challenges persist—the Q2 loss included IPO-related costs, though adjusted EBITDA grew 52% to $126 million.

China's Stablecoin Crackdown Sends Shockwaves Through Crypto Markets

Chinese regulators have escalated their crackdown on stablecoins, issuing directives in early August to halt all public and institutional activities related to these digital assets. The MOVE has immediately impacted XRP and USDT traders, with market participants now eyeing regulation-friendly alternatives like MAGACOIN FINANCE.

The new measures suspend stablecoin research, cancel educational seminars, and remove promotional materials from the Chinese market. While not an outright ban, the restrictions significantly reduce stablecoin visibility in a key market for global crypto liquidity. Tether's USDT, the dominant fiat-crypto bridge asset, faces particular pressure from these developments.

Financial authorities justified the crackdown by citing concerns about speculative trading, fraud risks, and potential threats to financial stability. The policy shift follows weeks of internal discussions between regulators and market observers, signaling a coordinated effort to curb stablecoin influence in China's financial ecosystem.

Blue Origin Partners with Shift4 to Accept Crypto Payments for Space Travel

Jeff Bezos's Blue Origin has forged a groundbreaking partnership with Shift4 Payments to integrate cryptocurrency payments for space travel. The initiative will accept Bitcoin, Ethereum, and Solana, alongside stablecoins USDT and USDC, marking a significant convergence of blockchain technology and space exploration.

Customers can complete transactions directly via Coinbase or MetaMask wallets, streamlining the process for high-net-worth individuals and crypto enthusiasts. Shift4 CEO Taylor Lauber emphasized the historic nature of extending commerce beyond Earth's boundaries, framing it as a natural evolution for digital assets.

The collaboration gains symbolic weight as Tron founder Justin Sun joins Blue Origin's NS-34 mission, using his suborbital experience to advocate for planetary conservation. This development builds on prior blockchain-space milestones like Spacechain's ISS Bitcoin transaction, further cementing crypto's role in the final frontier.