The total stablecoin supply has surpassed $250 billion for the first time, according to the latest stats shared by Delphi Digital. Yield-bearing stablecoins are expanding rapidly, with Ethena alone reaching nearly $6 billion since launch.

Tether’s USDT and Circle’s USDC continue to dominate the space, and collectively account for 86% of the outstanding supply. However, issuer diversity is rising, with over 10 stablecoins now exceeding $100 million in circulation.

Over $120 billion in US Treasuries are now held within stablecoins.

Forces Behind the $250B Stablecoin Boom

It is important to note that the market has rebounded significantly after key disruptions over the past four years, including the May 2022 collapse of Terra (UST), which triggered a loss of confidence in algorithmic stablecoins, and the March 2023 USDC de-peg caused by the regional banking crisis and Circle’s $3.3 billion exposure to SVB.

Recent growth can be attributed to broader digital asset market recovery, the 2024 launch of US-listed spot crypto ETFs, and a shift in sentiment under the Trump administration, which has increased institutional interest and adoption of digital assets.

As the stablecoin market matures and gains momentum, policymakers are stepping in with new legislation in a bid to solidify the US’s leadership in digital finance.

GENIUS Act Advances

After the Senate passed the GENIUS Act in a 68-30 vote, US President Donald Trump called on the House to act quickly to pass the bill. The Guiding and Establishing National Innovation for US Stablecoins Act. On Truth Social, Trump said the bill would make America the “undisputed leader in digital assets,” and urged lawmakers to avoid delays or amendments.

The bill’s sponsor, Senator Bill Hagerty, had previously highlighted its potential to speed up payment processing across the country. The House, controlled by a narrow Republican majority, is now expected to take up the vote.

Criticism of the GENIUS Act has been fierce in some quarters, particularly from Democratic lawmakers concerned about conflicts of interest. The bill initially stalled in May, failing a cloture vote amid worries over Trump’s crypto connections.

Senator Elizabeth Warren, for one, stated that the legislation could enable Trump and his family to earn “hundreds of millions” through their USD1 stablecoin. While Senator Mark Warner echoed ethical concerns, he warned that continued inaction would leave the US behind.

[PRESS RELEASE – Miami, FL, June 19th, 2025]

Everstake, a leading global non-custodial staking provider serving institutional and retail clients, has partnered with Zodia Custody, a leading institutional digital asset custodian backed by Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank. Through this collaboration, Everstake will support institutional staking for Zodia Custody clients by providing validator infrastructure across multiple Proof-of-Stake (PoS) networks.

To align with institutional expectations, Zodia is introducing staking with Everstake. The first tranche brought support for Polkadot (DOT), Cardano (ADA), and Solana (SOL), with Everstake serving as a trusted validator partner across these networks. In the second tranche, the infrastructure will also extend to Ethereum (ETH), NEAR Protocol (NEAR), and Babylon (BABY), with support scheduled to go live in the coming months—further expanding staking capabilities for Zodia clients.

Staking is playing an increasingly prominent role in institutional digital asset strategies, but slashing risk, compliance, and infrastructure reliability remain key barriers. This partnership addresses those challenges by combining Zodia’s secure, institutional-backed custody platform with Everstake’s institutional-grade validator infrastructure, offering 99.9% uptime and full compliance with ISO/IEC 27001:2022, SOC 2 Type 2, and GDPR. Together, they provide a natural solution for institutions seeking secure, compliant staking at scale.

By integrating directly into Zodia’s custody platform, Everstake enables staking without requiring clients to compromise custody. Assets are staked through Zodia’s internal API infrastructure and routed to Everstake’s whitelisted nodes. Everstake never accesses customer keys or assets; all operations remain auditable, transparent, and aligned with institutional governance.

“Institutions are looking for ways to put their digital assets to work without compromising on security or compliance,” said Julian Sawyer, CEO of Zodia Custody. “By partnering with Everstake, we’re enabling clients to stake assets like SOL and NEAR directly from custody while maintaining full oversight, control, and governance over the process.”

“We believe staking will underpin the next wave of institutional adoption in digital assets,” said Bohdan Opryshko, co-founder and COO of Everstake. “Our partnership with Zodia reflects the growing demand for compliant staking infrastructure built to institutional standards. We’re proud to support this new tranche of their program and help deliver institutional-grade staking to their clients.”

About Zodia Custody

Zodia Custody is an institution-first digital assets platform backed by Standard Chartered Bank, SBI Group, Northern Trust and National Australia Bank. Offering a seamless combination of custody, treasury and settlement solutions, Zodia Custody enables institutional investors worldwide to embrace the digital asset future with confidence, security and efficiency.

About Everstake

Everstake is a leading global non-custodial staking provider serving institutional and retail clients and enabling secure access to over 85 Proof-of-Stake networks. Founded in 2018 by blockchain engineers, the company supports more than 735,000 delegators, $6.5 billion in staked assets, and 40,000+ active validators — delivering institutional-grade infrastructure with 99.9% uptime and zero material slashing events since inception.

Trusted by asset managers, custodians, wallets, exchanges, and protocols, Everstake offers API-first, compliant infrastructure backed by SOC 2 Type 2 and ISO 27001:2022 certifications, GDPR compliance, and regular smart contract audits. Its globally distributed team of 100+ professionals is committed to making staking accessible to everyone while strengthening the foundations of decentralized finance.

Everstake is a software platform that provides infrastructure tools and resources for users but does not offer investment advice or investment opportunities, manage funds, facilitate collective investment schemes, provide financial services, or take custody of or otherwise hold or manage customer assets. Everstake does not conduct independent diligence or substantive review of any blockchain asset, digital currency, cryptocurrency, or associated funds. Everstake’s provision of technology services allowing users to stake digital assets is not an endorsement or a recommendation of any digital asset. Users are fully and solely responsible for evaluating whether to stake digital assets.

Binance founder Changpeng Zhao (CZ) is urging crypto platforms to introduce a “will function.”

This is to address the growing need for reliable inheritance systems in the digital assets space.

Community Concerns

In a statement shared on X, CZ said, “Every platform should have a ‘will function’—so that when someone is no longer around, their assets can be distributed to designated accounts according to specified proportions.”

The ex-Binance CEO also called on regulators to allow minors to hold crypto accounts that can receive payments but not trade. According to him, this would allow children to legally get digital assets left behind by family members. He emphasized that while inheritance is a sensitive topic, “it’s a feature everyone who has assets on a platform will need once.”

The conversation started with a post from Web3 community builder cryptobraveHQ, who referenced a tweet they had made in April. The crypto commentator pointed out that over $1 billion worth of crypto assets are transferred to centralized exchanges each year due to accidental deaths.

He explained that many traders either don’t inform their families about their holdings or fail to share details such as the number of assets or platforms they use. As a result, when these users pass away unexpectedly, their accounts become inactive, and the exchanges then end up getting their digital assets.

Binance’s Emergency Contacts and Inheritance Feature

In response to the raised issues, Binance rolled out an “emergency contacts and inheritance heir” feature on June 12. The update enables users to designate emergency contacts and submit an application if their account becomes inactive for an extended period or in the event of death. This allows people to choose in advance who may be eligible to get their crypto holdings.

Once the set inactivity threshold is reached and the user remains unresponsive, the exchange will contact the emergency contacts listed. If verification is successful, those individuals can begin the inheritance claim process.

Competitors like Coinbase and BitGo are using more traditional methods to handle crypto estate planning. The former requires heirs to provide legal documents like death certificates and wills. This process is manual and does not include any in-app beneficiary settings. The latter uses multi-signature wallets, cold storage protocols, and customizable access controls to support inheritance. This is done through legal third-party partnerships.

Meanwhile, Binance is also leading in Proof of Reserves (POR) reporting by releasing its disclosures monthly and on time. A new CryptoQuant report revealed that the exchange ranked first in transparency and consistently maintains a reserve coverage level above 100%.