Tether Dominance Hits Highest Since April, Signaling Market Risk Aversion

Bank of England Deputy Governor Sarah Breeden said the BoE is “genuinely open to other approaches” for regulating systemic stablecoins but expressed disappointment at a lack of constructive industry engagement. Her remarks signal potential flexibility in upcoming rules if firms engage more productively.

Corporate treasury teams are increasingly using USDC for settlement, with USDC surpassing Tether in transfer volume as overall stablecoin activity hits record highs. The move reflects a broader shift from traditional bank wires to tokenised-dollar rails for faster, cheaper corporate payments.

Zcash rose 4.1% to $217.80 after the team announced a $25 million funding round from top venture firms following its split from the Electric Coin Company, pushing ZEC's 24‑hour gain to 9.8%. The round aims to finance development, audits and ecosystem growth under the project's independent roadmap.

Florida lawmakers approved a broad state-level regulatory framework for payment stablecoins with a 37–0 vote, advancing the measure to Gov. Ron DeSantis. If signed, it could become the nation’s first comprehensive state regime for stablecoin payments.

Stablecoin activity on Solana has surged to $650 billion, signaling a major liquidity migration from Ethereum as market participants favor cheaper, faster rails.