Gate will host the Institutional Circle in Hong Kong to discuss AI-driven changes in crypto liquidity and market structure, with Addis Hu opening and speakers Ethan Hui and Chen Zhao, plus network sessions and a gala. Gate announces the Institutional Circle: AI Reshaping Crypto Liquidity & Market Access in Hong Kong, gathering Asia-Pacific institutional participants to discuss how AI is reshaping crypto liquidity and market structure. Opening remarks by Addis Hu; featured speakers Ethan Hui and Chen Zhao; event includes networking, practical industry discussions, and a gala dinner.

ARK Invest, led by Cathie Wood, divested shares of Circle and Bullish, totaling over $2.5 million on April 17, as reported by Ark Invest Tracker.

Circle Internet Group's stock fell 1% after a class action lawsuit alleged it failed to prevent $230 million in stolen USDC during the Drift Protocol exploit. The lawsuit questions Circle's ability to halt the attackers' transactions, raising issues of responsibility for stablecoin issuers in breach scenarios.

Circle Internet Group is facing a class action lawsuit for failing to quickly halt a $280 million exploit involving its Cross-Chain Transfer Protocol, as investors claim it could have intervened. The lawsuit highlights Circle's prior ability to freeze funds, raising questions about their responsiveness.

Circle CEO Jeremy Allaire forecasts that China may introduce a yuan-backed stablecoin in three to five years as digital currencies gain traction. This aligns with China's efforts to internationalize the renminbi, despite previous cryptocurrency restrictions.

Circle faces a class action lawsuit for failing to freeze $230 million in stolen USDC after the Drift Protocol attack. Plaintiffs argue that Circle's protocols allowed attackers to move and convert the stolen funds without intervention, raising concerns about the company's responsibilities in monitoring cross-chain transfers.

Gate News message, April 16 — According to Whale Alert, Circle has minted 250 million USDC on the Solana blockchain.

Circle CEO Jeremy Allaire discussed the potential for a yuan-backed stablecoin to enhance China's global currency use, despite regulatory challenges. He emphasized the dominance of US dollar-backed stablecoins in the market and the effectiveness of USDC during financial uncertainties.

Circle has launched a new cross-chain USDC payment mechanism for high-frequency settlements, utilizing the Cross-Chain Transfer Protocol to pre-fund transfers and enable batch settlements, thereby minimizing operational overhead and reducing burn operations.

Brix, a tokenization startup, raised $5.5 million from notable investors including Yapi Kredi's venture arm. It aims to launch on the MegaETH network, bringing traditional trading strategies like Turkish lira arbitrage to the blockchain.