Data from the Curve website shows that the number of crvUSD stablecoins minted by Curve has reached 127 million, with a collateral value of $87.19 million based on wstETH, $82 million based on WBTC, approximately $15.86 million based on sfrxETH, and $9.37 million based on ETH.

Despite its ongoing legal battle with the SEC, Binance is looking to expand its presence in the overseas market by partnering with Mitsubishi UFJ Financial Group to launch stablecoins denominated in USD, EUR, and Japanese Yen in Japan's growing crypto industry by 2024. Japan recently passed a law allowing licensed companies to issue stablecoins, with MUFG engaging in discussions with various entities about using its blockchain platform to create stablecoins linked to foreign currencies.

Bitcoin's price is bouncing back from resistance at $27,200, and investors are watching to see if it settles above $27,000 and continues towards $31,000 or drops to seek liquidity from support at $25,000. The crypto market is also keeping an eye on the Federal Reserve's meeting on Wednesday, as economists expect a pause in interest rate hikes. Nomura, Japan's largest bank, has launched an Adoption Fund for institutional investors, attracting interest from global firms like Blackrock and Fidelity Investments.

The European Commission has provided more information on its plans to update EU payment regulations, including how they will affect stablecoins. The proposed Payment Services Directive 3 (PSD3) and Payment Services Regulation (PSR) aim to regulate digital payments across the EU and enable non-banks to access payment systems.

Financial services company iSAM Securities has partnered with a FCA-registered cryptocurrency custodian and integrated "Know Your Transaction" (KYT) and transaction monitoring technology to verify the legitimacy of tokens.As an FCA-approved and regulated company, iSAM Securities has chosen to accept margin payments in two stablecoins that are highly regarded in the cryptocurrency world: USDC and USDT.

According to analysts at S&P Global, some dollar-pegged stablecoins are more prone to depegging than others, with Circle's USD Coin (USDC) and MakerDAO's Dai (DAI) being the most susceptible. A research paper from September examined the valuation and depegging of five leading stablecoins, including Tether (USDT), Binance USD (BUSD), Paxos (USDP), USDC, and DAI.

Lookonchain monitoring shows that after a market downturn 4 hours ago, a whale address went long on ETH and WBTC on Compound. The whale deposited 4,998 ETH ($7.75 million) into Compound and borrowed $6 million in stablecoins. They then purchased 3,218 ETH ($5 million) at a price of $1,554 and 39.4 WBTC ($1 million) at a price of $25,393.