Odaily Planet Daily reported that the latest data from Coingecko shows that the total market value of stablecoins has exceeded US$290 billion, currently reaching US$292,438,649,465, setting a new historical high. It has increased by 0.5% in the past 24 hours, and the 24-hour trading volume is US$116,829,414,452. Among them, Tether’s market value is approximately US$170.11 billion, ranking first; USDC’s market value is approximately US$72.99 billion, ranking second; USDE’s market value is approximately US$13.32 billion, ranking third.

In the past hour, total liquidations across the network reached $12.58 million, with $3.96 million from long positions, with $8.62 million from short positions. BTC liquidation $170,824.05, ETH liquidation $1.13 million.

Huoxun Finance reported on September 13th that the Beijing News reported that the 2025 Inclusion·Bund Conference in Shanghai held its first "Global Theme Day." Regarding the application of blockchain technology, attendees noted that the technology is becoming crucial for building a new generation of financial infrastructure, showing particular potential in areas such as cross-border payments and asset tokenization. The Hong Kong SAR Government's InvestHK discussed the development of digital assets and tokenization, with several companies sharing their perspectives on the application of tokenization technology in various industries, including finance, real estate, and supply chains. Representatives from the Securities and Futures Commission of Hong Kong outlined the development trends and regulatory framework of Hong Kong's tokenized product market, emphasizing that in the Web3 era, a robust compliance and security system is the cornerstone of digital asset development. The Hong Kong SAR Government, which published the "Hong Kong Digital Asset Development Policy Statement 2.0" in June of this year, is committed to fostering a digital asset development environment that balances regulatory compliance and technological innovation by optimizing the legal and regulatory framework.

Huoxun Finance reported on September 13th that according to Caixin, David A. Katz, Circle's Vice President of Strategy and Public Policy for Asia Pacific, stated at a forum in Singapore that digital assets must first ensure network security, preventing trading systems from being attacked by hackers. Secondly, digital assets must be backed one-to-one by real, high-quality, and highly liquid assets and held in custody by appropriate institutions. For example, approximately 90% of USDC's anchored reserves are held by BlackRock. Circle currently has over 900 employees, approximately 300 of whom are lawyers and compliance officers. Furthermore, digital assets such as stablecoins require government regulation to become part of the international financial system.

Huoxun Finance reported on September 13th that according to Caixin.com, regarding the surge in stablecoins in the first half of 2025, former U.S. Treasury Secretary Lawrence Summers stated that stablecoins will not significantly increase net demand for U.S. Treasuries, as a large portion of the funds that may flow in are already allocated to U.S. Treasuries. He also expressed skepticism that stablecoins could substantially reduce the burden of the fiscal deficit and expressed doubts about their potential to significantly contribute to budget deficit financing. There are two key areas of regulation for stablecoins: preventing bank runs under multiple equilibria and prohibiting anonymous transactions. The raison d'être of stablecoins should be to facilitate payments and transactions, not to make it easier for the government to finance its debt. Summers added that, over time, Trump will realize what every previous U.S. president has learned: "Fedbashing is a very risky game."