Linea Launches 9.​3B Token Airdrop

**Ethena enters the competition** to create a stablecoin for Hyperliquid's DeFi ecosystem with backing from BlackRock. The proposal builds on Ethena's experience with synthetic assets and follows their previous launch of UStb, also backed by BlackRock. This move positions Ethena to expand its stablecoin offerings beyond USDe. **Key developments:** - Leverages Ethena's synthetic asset expertise - BlackRock provides institutional backing - Targets Hyperliquid's growing DeFi platform The partnership could enhance stability and adoption in DeFi markets, building on Ethena's track record with stablecoin infrastructure.

**Stablecoin adoption reached new heights** in August 2025, with retail transfers hitting an all-time high of $5.8 billion. This represents a significant milestone - last month's transaction volume has already **surpassed the entire volume of last year**. **Key drivers behind the surge:** - Users frustrated with high banking fees - Demand for faster transfers compared to traditional banking - Growing real-world utility of crypto assets **Global responses vary:** - **China**: State-owned PetroChina exploring its own stablecoin for international payments - **Europe**: ECB remains cautious, emphasizing need for robust regulations like MiCA A survey of 2,600 users confirms the shift away from traditional banking solutions toward stablecoin alternatives. This retail boom signals **strong demand for Web3 utility** and suggests a fundamental shift in how people handle digital payments and transfers.

Kazakhstan has officially approved the use of **stablecoins for regulatory fee payments**, marking a significant milestone for crypto adoption in Central Asia. The Astana regulator has begun a **trial program** accepting USD-backed stablecoins through Bybit integration. This allows businesses to pay government fees using digital assets instead of traditional currency. Key developments: - First Central Asian country to accept crypto for official payments - Trial focuses on USD-pegged stablecoins for stability - Integration through established exchange platform This move positions Kazakhstan as a **crypto-forward jurisdiction** and could encourage other regional governments to explore similar digital payment options for official transactions.

**Arbitrum unveils major DeFi incentive initiative** Arbitrum has launched its **DeFi Renaissance Incentive Program (DRIP)** with a substantial $40 million budget, distributing 80 million ARB tokens to stimulate DeFi activity on the network. **Season 1 Focus Areas:** - Targets **looping strategies** on major lending platforms - Primary focus on **Aave and Morpho** protocols - Up to **24 million ARB** allocated for initial distribution **Program Structure** The initiative aims to boost user engagement in DeFi lending markets through strategic token incentives. Season 1 specifically encourages sophisticated trading strategies that involve borrowing and re-lending assets to maximize yields. This represents Arbitrum's significant investment in growing its DeFi ecosystem and attracting more sophisticated traders to the platform.