According to @cas_abbe, crypto custodian Anchorage Digital announced it will phase out Circle's USDC and other stablecoins, citing elevated concentration risks based on its internal "Stablecoin Safety Matrix" (Source: Rachel Anderika, Anchorage). The move, which directs clients toward the Paxos-issued USDG stablecoin, sparked immediate and fierce backlash from industry leaders. Nick Van Eck of Agora, whose AUSD was also delisted, called the move a biased "hit piece," highlighting Anchorage's undisclosed economic interest in the rival USDG token (Source: Nick Van Eck on X). Major platforms like BitGo and FalconX publicly affirmed their continued support for USDC and AUSD (Source: Chen Fang, Joshua Lim). This controversy unfolds as Bitcoin (BTC) ended June with a record monthly close but has since seen its momentum fade due to profit-taking from long-term holders (Source: Omkar Godbole). Despite the short-term weakness, some analysts remain constructive, especially on altcoins that have room to catch up, though traders are cautioned that Q3 is historically a weak period for BTC with lower liquidity (Source: Valentin Fournier, BRN; Omkar Godbole).

According to CCData_io, the top stories in the crypto market today include BlackRock's Spot Bitcoin ETF experiencing zero outflows despite a price drop, Anchorage Digital expanding custody support to Solana tokens, and Marathon Digital significantly increasing its Bitcoin production and hash rate in July 2024.