Tag: Circle
Circle Expands Beyond USDC With the Launch of cirBTC — A 1:1 Bitcoin-Backed Token Built to Unlock $1.7 Trillion in Idle BTC for DeFi and Dethrone WBTC in the $14 Billion Wrapped Bitcoin Market
On April 2–3, 2026, Circle Internet Group (NYSE: CRCL) — issuer of USDC ($30B+ circulation) — announced cirBTC, a 1:1 BTC-backed wrapped Bitcoin token with real-time on-chain verifiable reserves. cirBTC launches first on Ethereum and Circle's Arc L1 blockchain. Full rollout Q2 2026 with Circle Mint integration, DeFi protocol connections by May. Expands to Solana post-launch. Targets $1.7 trillion in idle Bitcoin for DeFi lending, trading, and yield. Enters the $14B wrapped BTC market (208K BTC supply) against WBTC (BitGo) and cbBTC (Coinbase). Rachel Mayer, Circle VP: 'Bitcoin is sitting on the sidelines of DeFi — not because there is a lack of demand for yield or liquidity, but due to trust issues with the wrapper. cirBTC is Circle's solution: 1:1 backed, verifiable on-chain, and built on trusted infrastructure.'
Wall Street Declares War on the OCC: JPMorgan, Goldman Sachs and Citigroup Weigh Lawsuit as Crypto Firms Gain Federal Bank Charters — 11 Approvals in 83 Days
The Bank Policy Institute — representing 40 US mega-banks including JPMorgan Chase, Goldman Sachs, and Citigroup — is preparing to sue the Office of the Comptroller of the Currency over its decision to grant national trust bank charters to Ripple, Circle, BitGo, Fidelity Digital Assets, Paxos and six other crypto and fintech firms. Eleven companies received conditional approvals or filed applications in just 83 days. The legal challenge centres on OCC Interpretive Letter 1176. A new OCC rule effective April 1, 2026 is forcing BPI's hand on timing. On March 5, the American Bankers Association separately rejected the White House's CLARITY Act compromise. The biggest legal confrontation in the history of US crypto banking access is now formally in motion.
Senate's Stablecoin Yield Deal Is Sealed: The CLARITY Act's Tillis-Alsobrooks-White House Compromise Bans Passive Yield, Permits Activity Rewards, and Sets a Late April Markup — The Most Consequential Regulatory Line in US Crypto Finance Since the GENIUS Act Is Now on Paper
On March 20, 2026, Senators Tillis and Alsobrooks, with White House adviser Patrick Witt, agreed in principle on stablecoin yield language for the CLARITY Act. Compromise text reviewed by crypto firms March 24, banks March 25. Section 404: passive yield on stablecoin balances prohibited; activity-based rewards permitted. CLARITY Act passed House 294–134 July 2025; cleared Senate Agriculture Committee January 2026. GENIUS Act (signed July 18, 2025) already bans issuer-level yield. Senate Banking markup targeted late April 2026. Senate floor deadline: May 2026. Missing May window risks legislative failure past 2026 midterms. Circle fell ~20% on yield restriction news. Coinbase stablecoin revenue: $364.1M Q4 2025. Coinbase has pushed back publicly.
USDC's Unstoppable Quarter: Circle Shares Surge as Q4 Results Shatter Wall Street Estimates
Circle Internet Group demolished analyst estimates in Q4 2025 — $770 million in revenue up 77% year-over-year, adjusted EPS of $0.43 against a consensus of $0.35, and USDC in circulation growing 72% to $75.3 billion. Shares surged sharply in pre-market trading on February 25, 2026, in the company's most powerful earnings performance since its blockbuster NYSE debut in June 2025. For the stablecoin sector, the message from these numbers is unambiguous: regulated digital dollar infrastructure is not a coming opportunity — it is an already-exploding revenue reality.
CoinShares PLC Begins Trading on Nasdaq Under CSHR — Europe's $6 Billion Pure-Play Crypto Asset Manager Completes Its $1.2 Billion SPAC Combination With Vine Hill Capital, Joins BlackRock, Fidelity, and Grayscale as a US Public Market Digital Asset Manager
On April 1, 2026, CoinShares PLC — Europe's largest digital asset manager with $6B+ AUM — began trading on Nasdaq under ticker CSHR, completing its $1.2 billion pre-money SPAC merger with Vine Hill Capital Investment Corp. Opening price: $8.72. Intraday range: $7.65–$10.43. Market cap: ~$322.67M. 22 million shares outstanding. The transaction received 81.32% shareholder approval. CoinShares delisted from Nasdaq Stockholm on March 31. The company ranks among the top global digital asset managers alongside BlackRock, Fidelity, and Grayscale. CoinShares holds 34% European digital asset management market share. US expansion plans include product development and acquisitions. Follows Circle, Gemini, Bullish, and BitGo going public in 2025–2026.
Senate Votes 89–10 to Block the Federal Reserve's Digital Dollar Until 2030 — America's Most Bipartisan Crypto Vote Is Hidden in a 302-Page Housing Bill
On March 12, 2026, the US Senate passed the 21st Century ROAD to Housing Act 89–10. Embedded within the 302-page housing bill is a landmark provision prohibiting the Federal Reserve from issuing a CBDC directly or indirectly until December 31, 2030. The ban forbids pilot programs without explicit Congressional approval and requires Congressional Financial Technology requirements for any future digital dollar initiative. Private stablecoins including USDC and USDT are explicitly excluded. H.R.1919 (Anti-CBDC Surveillance State Act) passed the House 219-210 on July 17, 2025. Senator Ted Cruz sought a permanent ban but his standalone amendment failed. The bill now goes to the House for reconciliation. Trump signed an executive order halting CBDC research in January 2025. Circle and Tether are positioned to benefit from the stablecoin tailwinds.
This Week in Crypto: Bitcoin's Historic Worst Start, a $4.2B Tether Freeze, Circle's Earnings Bombshell, and the Axiom Insider Trading Scandal That Shook Platform Trust
From Bitcoin's record worst year-to-date performance to Circle's earnings demolishing Wall Street estimates, Tether freezing $4.2 billion in crime-linked USDT and ZachXBT exposing alleged insider trading at Axiom Exchange — the week of February 23–28, 2026 was one of the most consequential seven-day periods in the current crypto cycle. Here is everything that mattered.