The whirlwind of activity in the stablecoin sector shows no signs of slowing. In May, we published our Stablecoin Sector report, analyzing the diverse types of stablecoins, reserve models, and issuers across networks. In recent months, we’ve seen the passage of U.S. stablecoin regulation through the GENIUS Act, while Circle’s IPO brought the stablecoin business model into the mainstream. The competitive landscape has intensified and appears in flux, with Tether announcing its entrance into the U.S. market through USAT, a heated battle for Hyperliquid’s USDH ticker, and a wave of payments-focused chain launches from ... (full story)