Blockchain sleuths at Elliptic traced the money, Treasury sanctioned the marketplace, and Xinbi—which ran $24 billion through a Telegram scam bazaar—called the freeze unfair.
The company has built its first chips and begun testing prototypes as it seeks to manufacture quantum computers in larger quantities.
The pilot moved USBDC between the bank’s North American and European entities on the public Stellar blockchain.
Bitcoin trended lower with US stocks on Iran escalation while US Treasury Secretary Scott Bessent contributed to fears of a yen carry-trade unwind.