PANews reported on September 18th that blockchain analytics platform Bubblemaps published an article on the X platform claiming that Tether co-founder Reeve Collins had just launched a new token, STBL. However, the top five traders are suspiciously interconnected and have profited over $10 million. Collins launched STBL yesterday, a new stablecoin system built around three tokens: USST (stablecoin), YLD (yield token supporting USST), and STBL (governance token). An analysis of the top five traders by STBL trading volume revealed that these five profit-makers received capital injections at the same time. Tracing the source of their funds revealed a clear connection: the funds all came from the same source (injected via Tornado Cash); bots were used to borrow USDC from the Venus Protocol; and the total profit exceeded $10 million. However, there is no evidence that these traders are connected to the core team. In fact, this group of bots has a history of extracting value from other tokens, not just STBL.PANews reported on September 18th that blockchain analytics platform Bubblemaps published an article on the X platform claiming that Tether co-founder Reeve Collins had just launched a new token, STBL. However, the top five traders are suspiciously interconnected and have profited over $10 million. Collins launched STBL yesterday, a new stablecoin system built around three tokens: USST (stablecoin), YLD (yield token supporting USST), and STBL (governance token). An analysis of the top five traders by STBL trading volume revealed that these five profit-makers received capital injections at the same time. Tracing the source of their funds revealed a clear connection: the funds all came from the same source (injected via Tornado Cash); bots were used to borrow USDC from the Venus Protocol; and the total profit exceeded $10 million. However, there is no evidence that these traders are connected to the core team. In fact, this group of bots has a history of extracting value from other tokens, not just STBL.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more