Hong Kong’s Securities and Futures Commission (SFC) and the Financial Services and the Treasury Bureau have expanded their regulatory cooperation, bringing virtual asset service providers and funds under the financial reporting regulatory framework.

Franklin Templeton has expanded its Over-the-Counter Collateral Program to Bybit, allowing users of the crypto exchange to trade digital assets using its tokenized money market fund shares. These shares, representing approximately $686 million in net assets, can be used as collateral to borrow USDT or USDC, while the underlying assets continue to generate returns. Users do not need to transfer the underlying assets to Bybit: regulated custodian platform ByCustody will hold the assets over-the-counter, with their value mirrored in Bybit’s trading ecosystem to unlock trading liquidity while generating returns. Franklin Templeton had previously offered similar services to clients of Binance and OKX.

Pendle stated in a post that the current total stablecoin supply is approximately $300 billion. Standard Chartered projects the stablecoin market will reach $2 trillion by 2028, while Citigroup forecasts it will hit $1.9 trillion by 2030, with banks and payment networks also preparing to enter the market. Pendle noted that even under JPMorgan Chase’s "worst-case" scenario, where stablecoin supply merely doubles, its total addressable market (TAM) for stablecoin-related products will double in the next 1.5 years and expand to 10 times its current size within four years. Data shows Pendle’s stablecoin pools have recorded over $6 billion in nominal trading volume year-to-date. Emerging stablecoins like AUSD continue to grow, a phenomenon Dune Analytics has dubbed the "Pendle Effect". As the stablecoin market expands, Pendle will continue to build out its presence in the space.

According to market data from BIT (bit.com), U.S. pre-market crypto-related stocks are mostly lower, with MSTR down 1.51%, CRCL down 2.54%, COIN down 0.47%, HOOD down 2.18%, BMNR down 1.92%, SBET down 1.45%, and PURR down 1.95%.

Bitcoin mining firm Hut 8 announced it has closed a $1.07 billion four-year senior secured revolving credit facility, aimed at boosting parent-level liquidity, funding development of projects including AI data centers, and advancing its goal of securing an investment-grade corporate credit rating. The non-dilutive debt financing carries an initial interest rate of SOFR plus 175 basis points, which will later fluctuate between SOFR plus 150 and 200 basis points based on the company’s total debt-to-market capitalization ratio. Hut 8 can draw down and repay funds flexibly as needed, with no prepayment penalties. Additionally, the facility includes a $1.07 billion letter of credit sub-limit, usable to cover grid access deposits, utility and equipment supplier-related collateral requirements for project development, reducing cash collateral needs. JPMorgan Chase acted as lead arranger, bookrunner, and administrative agent for the financing, with Citigroup, Goldman Sachs, and Morgan Stanley serving as joint lead arrangers and bookrunners, and 12 total lenders participating.

According to Bloomberg, Citibank has partnered with Coinbase to launch stablecoin payment services for institutional clients.

On-chain investigator ZachXBT posted that Asian illicit actors suspected of laundering funds for North Korean attackers are openly soliciting assistance with services like fund transfers on their public Discord servers and Telegram channels, linked to the earlier $387 million Bitget hack. ZachXBT noted that the funds in question are currently being moved across blockchains via cross-chain bridges and deposited into mixers such as Wasabi. One individual labeled "Alias 4" was previously found to have participated in laundering funds from the earlier $292 million Kelp DAO hack this year. ZachXBT stated he has observed similar patterns following multiple attacks attributed to the North Korean hacker group TraderTraitor, is continuing to track the relevant group, and plans to release more investigation data in the coming weeks.