According to @lookonchain, on-chain data reveals significant institutional interest in the HYPE token. Over the last 24 hours, three large entities, identified as whales or institutions, have deposited a combined 37.17 million USDC into the Hyperliquid platform. These funds were used to acquire 390,434 HYPE tokens, valued at approximately $17.81 million. Notably, one specific whale, potentially associated with Anchorage Digital, established five new wallets and deposited 4.5 million USDC into each, for a total of 22.5 million USDC, signaling strong buying pressure and accumulation of HYPE.

According to @zachxbt, Circle has established a revenue-sharing agreement with the crypto exchange Bybit to drive adoption of its USDC stablecoin, similar to existing deals with Coinbase and Binance. Sources indicate these partnerships are a core strategy for Circle to compete with Tether (USDT) and new entrants like Global Dollar (USDG). This development comes as crypto custodian Anchorage Digital announced it is phasing out support for USDC and Agora's AUSD, citing internal risk assessments related to issuer concentration. However, this move has drawn sharp criticism from industry leaders, including Agora's Nick Van Eck and Coinbase's Viktor Bunin, who accuse Anchorage of a conflict of interest as it directs clients to USDG, a stablecoin in which Anchorage is a founding partner. In response to the delisting, other major firms like custodian BitGo and prime broker FalconX have publicly reaffirmed their continued support for USDC and AUSD, potentially limiting the market impact for traders. The USDCUSDT pair is currently trading at $0.9997, slightly below its peg, amidst this heightened competition.

According to @cas_abbe, crypto custodian Anchorage Digital announced it will phase out support for Circle's USDC and Agora's AUSD stablecoins, citing its new "Stablecoin Safety Matrix" which identified "elevated concentration risks associated with their issuer structures." The firm is directing institutional clients to convert these assets into a rival token, Global Dollar (USDG), in which Anchorage is a founding partner, according to the report. The decision has triggered significant backlash from the crypto community. Nick Van Eck of Agora accused Anchorage of misrepresenting facts and publishing a "hit piece" to promote a stablecoin where it has a commercial interest. Viktor Bunin from Coinbase echoed this sentiment, calling the move "unserious and bizarre." In response, Circle defended USDC's strong compliance record and transparency. Other major players, including crypto custodians BitGo and prime broker FalconX, have publicly confirmed they will not be dropping support for USDC or AUSD. For traders, this development highlights intensifying competition in the stablecoin sector and could create short-term liquidity shifts for the affected tokens on certain platforms.

According to @zachxbt, crypto custodian and federally chartered bank Anchorage Digital announced it will phase out support for major stablecoins including Circle's USDC, Agora's AUSD, and Usual USD's USD0. The firm cited its proprietary 'Stablecoin Safety Matrix,' which identified 'elevated concentration risks' with the issuers' structures, as stated by Anchorage's head of global operations, Rachel Anderika. This decision has ignited significant controversy and pushback from prominent industry figures. Nick Van Eck, whose firm Agora issues AUSD, accused Anchorage of misrepresenting facts and failing to disclose its commercial interest in a rival stablecoin, Global Dollar (USDG), in which Anchorage is a founding partner. Jan Van Eck, CEO of asset manager Van Eck, and Viktor Bunin of Coinbase also publicly questioned the validity of Anchorage's risk assessment. In response, a Circle spokesperson defended USDC's robust compliance and transparency. Other major players, including crypto custodians BitGo and prime broker FalconX, have publicly stated they will continue to support both USDC and AUSD, signaling a potential rift in institutional stablecoin preferences.

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.