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Pornhub drops USDT for USDC

Pornhub is no longer accepting USDT for payouts and is switching to Circle-issued stablecoin USDC instead.

Venezuela-focused neobank Kontigo pays back users after $340K USDC hack

Kontigo, which allows Latin American users to dodge inflation by using “digital dollars” has been forced to reimburse over 1,000 accounts.

Any US bank or fintech company that receives USDC instead of dollars will need to file timestamped records of every transaction.

The GENIUS Act forbids any interest payments by Circle to USDC holders, causing them to venture elsewhere for APRs of 59% or beyond.

The DeFi sector is a financial frontier zone, home to some of crypto’s riskiest experiments. As such, chaos isn’t the exception but the rule.