redemption

Singapore Gulf Bank (SGB) announced the launch of stablecoin minting and redemption services, allowing businesses and high-net-worth clients to directly convert between fiat currency and stablecoins through SGB accounts, achieving real-time settlement around the clock without relying on traditional intermediary banking processes.This service is integrated into SGB's proprietary clearing network SGB Net, supporting seamless flow of funds both on-chain and off-chain. The first supported stablecoin is USD Coin (USDC), with a minimum transaction amount of $100,000, and it will subsequently support USDT, USDe (Ethena), and Global Dollar (USDG).

The second round of Binance Alpha SOON airdrop is now live. Users with at least 242 Binance Alpha points can claim 280 SOON tokens on a first-come, first-served basis. If the reward pool is not fully allocated, the points threshold will automatically decrease by 5 points every 5 minutes.Please note that claiming the airdrop will consume 15 Binance Alpha points. Users must confirm their claim on the Alpha Events page within 24 hours; otherwise, it will be considered that the user has forfeited the airdrop.

The Federal Deposit Insurance Corporation (FDIC) has proposed a new rule draft to regulate stablecoin issuers within its jurisdiction according to the GENIUS Act, covering requirements related to reserves, redemption, capital, risk management, and custody.The FDIC stated that the relevant reserve deposits will be insured, but this protection does not directly cover stablecoin holders. At the same time, the regulatory agency has sought public opinion on the details of the rules, with a comment period of 60 days. This proposal is a further measure to implement the GENIUS Act, and the relevant regulatory framework is expected to be gradually improved.

According to official news, Agora announced that starting from April 3, 2026, it will gradually stop the issuance and support of AUSD on the Injective network. According to the latest adjustments, no new AUSD will be minted on Injective from today, and AUSD held on this network will no longer earn any rewards. However, users can still redeem AUSD at a 1:1 value, and the redemption window will last until September 28, 2026. This adjustment only applies to the Injective network and does not affect the operation of AUSD on other chains.Regarding the redemption process, Agora stated that its clients can complete the operation through their account contacts. Users only need to send AUSD on Injective to the official channel, and the platform will assist in converting it to AUSD on the user-specified chain or exchanging it for US dollars and other supported stablecoins. The official emphasized that September 28, 2026, is the standard redemption deadline, and after that, remaining assets can still be processed, but may require additional KYC verification processes and related fees.Agora pointed out that this decision stems from its regular evaluation mechanism for multi-chain deployment, with key considerations including actual usage, ecosystem health, and infrastructure costs. After a comprehensive assessment, Agora decided to strategically shrink the AUSD business on the Injective network to optimize resource allocation and improve overall operational efficiency.

Institutional-grade digital asset custody service provider BitGo has officially launched the BitGo Mint service, allowing institutional clients to mint, redeem, and manage stablecoins and other digital assets within a unified workflow.The service initially supports USD 1 issued by World Liberty Financial, as well as SoFi USD issued by SoFi Bank, which is regulated by the OCC and insured by the FDIC. BitGo had previously provided infrastructure support for these two stablecoins at the end of last year.

The Cosmos ecosystem project Neutron announced that NTRN redemption is now live, allowing holders to permanently burn their NTRN in exchange for a proportionate share of the USDC pool.The NTRN deposit window is from April 1 to April 30, with USDC redemption applications opening on May 1 and closing on June 30. The NTRN held by the foundation (estimated at about 32.4 million) will not participate in the redemption and will be burned.Previously, the Cosmos ecosystem project Neutron announced it would transition to a long-term maintenance mode. The DEX and Supervault will be suspended and enter withdrawal-only mode by April 17 at the latest, with Hadron Labs responsible for network maintenance until June 30, 2026, after which a manual withdrawal guide will be released. Governance will transition from a custom system to a standard Cosmos staking model, inflation will be dynamically adjusted, and the validator set will be reduced.

According to official documents, Morgan Stanley has submitted an S-1/A amendment for its Bitcoin spot ETF "Morgan Stanley Bitcoin Trust" (MSBT). The document reveals that the trust has raised $1 million in seed funding by selling 50,000 seed shares at a price of $20 per share.The ETF will explicitly support both cash and physical subscription and redemption models. The disclosed authorized participants, in addition to the usual Virtu Americas and Jane Street, also include Macquarie Capital. Furthermore, Coinbase Custody and Bank of New York Mellon (BNY) jointly serve as Bitcoin custodians, with Bank of New York Mellon also acting as the manager, cash custodian, and transfer agent. The trust is required to pay a fixed trustee fee of $20,000 per year and will not participate in any Bitcoin forks or airdrops.

The asset management giant BlackRock has begun to limit withdrawals from a private credit fund with a size of approximately $26 billion due to an increase in redemption requests, raising concerns about the spillover of pressure in the global private credit market.Analysts warn that tensions in this sector could transmit to the crypto market through two channels: macro deleveraging and tokenized credit products. If private credit funds are forced to deleverage or liquidate assets, it could trigger a chain reaction among broader risk assets, affecting crypto assets including Bitcoin.

Tether has announced that it will officially cease support for its offshore Chinese yuan-pegged stablecoin CNHT. Launched in 2019, the product aimed to provide traders with a digital channel for offshore yuan but has never gained significant market recognition. Tether stated that this move is part of a strategic adjustment aimed at focusing resources on products with "strong intrinsic adoption rates" and long-term community demand.Effective immediately, the minting and issuance of CNHT on the Ethereum and Tron blockchains have been halted, and existing holders must complete redemptions by early 2027.

According to official news, Tether announced that it will cease the issuance of the offshore Chinese yuan stablecoin CNHT from today and will stop supporting the redemption of CNHT one year after the announcement is made.Tether stated that consumer interest in the product is low, the community demand for CNHT is limited, and its usage level is insufficient to support the operational support required by the standards adopted by all products under Tether.

According to Cointelegraph, the liquidity protocol Multiliquid has partnered with investment firm Metalayer Ventures to launch an institutional liquidity support tool on Solana, providing instant redemption services for tokenized real-world assets.This facility allows holders to instantly convert tokenized asset positions into stablecoins, aiming to address the long-standing liquidity bottleneck issues faced by on-chain markets. The tool will act as a permanent buyer for tokenized RWAs, purchasing assets at dynamically discounted prices. The initial phase will support tokenized government bond funds and some alternative investment products issued by institutions including VanEck, Janus Henderson, and Fasanara.

According to the official announcement, Gate Web3 will officially launch the "Exchange Unlock Ladder Shield" event from January 15 to January 30, aimed at helping users reduce reallocation costs amid fluctuations in mainstream asset markets. During the event, if new users incur losses on their first net exchange order that meet the amount criteria, they can receive full subsidies for Gas fees and slippage. In addition, the event introduces a ladder shield mechanism, dividing users into four levels based on cumulative exchange volume, with a maximum loss subsidy of 540 USDT available for application. The total prize pool for the event is 20,000 USDT, adopting a first-come, first-served circuit breaker mechanism.Gate Swap is an AMM DEX deployed in the Gate Layer ecosystem, focusing on providing deep liquidity support and efficient trading experiences for the Gate Layer ecosystem. Through optimized trading mechanisms and intelligent liquidity management, it helps users achieve seamless and cost-effective asset exchanges.

OneBullEx officially launches the OBE points 1:1 exchange for USDT today. As the first open day of the platform's points value redemption mechanism, this event has garnered attention from community users since its launch. Several eligible users completed the exchange after the redemption window opened, and the related USDT rewards have been gradually distributed to user accounts.According to official information from OneBullEx, the platform has opened a total of 10 batches for the points redemption period today, with a total of 100,000 USDT to be distributed in this event. The redemption will be conducted in batches, and users must complete the operation within the designated time window.The official also stated that in addition to the fixed redemption window on the 11th of each month, there will be additional redemption opportunities opened irregularly in the future, with the relevant schedule to be announced in advance through official media platforms and community channels. OneBullEx hopes to enhance the predictability and transparency of the platform's points system through the points redemption mechanism and strengthen the interaction between users, the platform, and the community.Currently, some redemption windows are still open. Users holding OBE points and meeting the criteria can follow the guidelines released by the official to participate in the redemption on the OneBullEx official website.In addition, the 11th of each month will be designated as OneBullEx's fixed membership day. Besides the regular OBE points 1:1 exchange for USDT, the official stated that more exclusive member rights and event arrangements will be continuously introduced in the future, with specific details to be announced through official channels, and users are encouraged to stay tuned.

Bitcoin's native liquidity protocol Yala tweeted, "As the protocol continues to evolve, YU is no longer an active or necessary component in Yala's current and future product roadmap.However, the YU redemption function remains operational and unaffected. Holders can continue to follow the YU-USDC redemption plan and can exchange once the official redemption pool is open."

Glassnode published an analysis on platform X, stating that the Ethereum spot ETF has begun to show signs of recovery after several weeks of continuous outflows.Moderate inflows have started to appear, suggesting that redemption pressure has eased. If it can continue to rise into the net inflow range, it would indicate an improvement in demand before the end of the year.

Cryptanalysis expert Willy Woo released a comparison chart of bank runs, showing that Tether (USDT) fully redeemed during a redemption wave of about 20-25%, outperforming traditional banks like Silicon Valley Bank (25%) and First Republic Bank (57%).Woo pointed out that Tether currently holds 77% of its assets in cash equivalents, with the remainder in gold and Bitcoin, totaling an excess collateral of 3%. Even if volatile assets plummet by 30% in extreme market conditions, USDT still has 95% asset backing.