Circle's USDC stablecoin outpaced Tether's USDT in growth for the second consecutive year, driven by rising demand for regulated digital dollars following the GENUIS Act in the U.S. USDC's market cap increased by 73% to $75.12 billion, while USDT grew by 36% to $186.6 billion. Institutional interest in compliant assets is contributing to USDC's popularity among major financial institutions.

A pilot program in New York City will provide 160 residents with $12,000 in crypto over five months, funded by GiveDirectly using donations from Coinbase. Participants receive $800 monthly in USDC and an $8,000 lump sum to explore alternative financial support options.

Liquidity concerns are rising ahead of the Jackson Hole conference, with ETF outflows impacting BTC and ETH markets. Circle's new Gateway technology aims to make USDC chain-agnostic, enhancing transfer efficiency and reducing operational costs for exchanges and DeFi applications.