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MoneyGram Launches Its Own Stablecoin on the Stellar Network

Global money transfer company MoneyGram has launched MGUSD, a stablecoin pegged to the U.S. dollar. The new digital dollar runs on the <a href="https://jrkripto.com/tr/coin/xlm" target="_blank" rel="noreferrer" class="text-primary underline">Stellar </a>blockchain and targets the company’s more than 60 million active customers and nearly 500,000 physical service locations worldwide.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">MGUSD launches first in the U.S.</h2>According to the company’s <a href="https://www.prnewswire.com/news-releases/moneygram-launches-mgusd-a-stablecoin-to-power-its-own-global-network-302787799.html" target="_blank" rel="noreferrer" class="text-primary underline">announcement </a>on Tuesday, MGUSD was initially rolled out for users in the United States. MoneyGram plans to expand the product globally in the coming period. The stablecoin will function as a digital dollar balance inside the MoneyGram app. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/final-moneygram-mgusd-coin-rendering-2e9cbade.webp" alt="final_MoneyGram-MGUSD_Coin_Rendering.jpg" width="auto" height="auto" class="w-full rounded-lg border" /> <figcaption class="mt-2 mb-6 text-center text-sm text-gray-500">MGUSD's concept image. Source: BusinessWire</figcaption> </figure> Through this structure, users will be able to hold digital assets denominated in U.S. dollars, transfer them and convert them into cash through MoneyGram’s physical locations when needed. In doing so, the company has connected digital asset infrastructure directly to its existing money transfer network.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Bridge, M0 and Fireblocks support the infrastructure</h2>Three key partners are involved in MGUSD’s technical and regulatory infrastructure. The stablecoin will be issued by Bridge, which operates under Stripe. M0 will provide the smart contract infrastructure managing MGUSD’s minting and burning processes.Fireblocks, meanwhile, will handle custody and wallet distribution. MoneyGram will hold MGUSD in Fireblocks wallets and then transfer the funds to customer wallets embedded in the MoneyGram app.MoneyGram Chairman and CEO Anthony Soohoo said MGUSD was developed especially for customers sending money across borders. According to Soohoo, the stablecoin was designed for users sending funds to their families and for large populations with limited access to financial services.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Stellar partnership enters a new phase</h2>MoneyGram’s decision to choose the Stellar blockchain is not the result of a new partnership. The company has been working with the Stellar Development Foundation for nearly five years on stablecoin-powered money transfer solutions. During this period, MoneyGram offered money movement and cash-out services through Circle’s USDC stablecoin.With MGUSD, MoneyGram has moved beyond using a third-party stablecoin and launched its own digital dollar. Stellar Development Foundation CEO Denelle Dixon also described the launch as a new milestone showing what a purpose-built blockchain infrastructure can deliver when combined with a trusted payments network.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Stablecoin race accelerates</h2>MoneyGram’s move comes in parallel with the growing stablecoin competition in the payments sector. PayPal had previously entered this field with PYUSD. Western Union has also announced plans to launch a stablecoin called USDPT on Solana.SoFi is following a similar strategy with SoFiUSD, while payment giants such as Visa are also integrating stablecoin infrastructure into cross-border settlement processes. The appeal of this area for traditional payment companies is clear. Stablecoins offer a transfer infrastructure that operates 24/7, is faster and may potentially be less costly.MoneyGram’s strongest advantage in this race is its broad physical service network. Fully digital stablecoin products often require a bank account, a crypto wallet or access to an online platform. MoneyGram, however, could make it easier for users to move between digital dollars and cash through its hundreds of thousands of physical locations.This model may create a notable advantage, especially in regions where access to banking services is limited. The company is positioning stablecoins not only as a product for the crypto market, but also as a new building block for its global money transfer network.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The company had accelerated its stablecoin preparations</h2>MoneyGram has gradually strengthened its preparations in this field in recent months. In December, the company partnered with Fireblocks for stablecoin settlements. Last month, it was named one of the anchor remittance validators on Tempo, the blockchain backed by Stripe and Paradigm. In May, it also expanded crypto-to-cash withdrawal services for Kraken users.

2 Jun 2026

Strive Buys the Dip: Company Adds $185 Million Worth of Bitcoin

Strive, which follows a corporate Bitcoin treasury strategy, turned the latest market pullback into a new buying opportunity. The company announced that it purchased 2,500 Bitcoin for approximately $185.2 million. According to Strive’s 8-K filing, the acquisition was made at an average price of $74,092 per Bitcoin. With the latest transaction, the company’s total Bitcoin holdings rose to 19,000 BTC.The purchase came at a time when Bitcoin’s price has been under pressure in recent days. According to market data, <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>fell to around $70,800 on Tuesday morning after trading above $74,000 last week. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/btcusdt-2026-06-02-16-05-24-02cceca2.webp" alt="BTCUSDT_2026-06-02_16-05-24.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> Strive’s latest acquisition was completed at a lower average cost compared to its previous Bitcoin purchase announced on May 22. At that time, the company had bought 1,109 BTC at an average price of $76,989 per Bitcoin.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Strive moves towards top 10</h2>This picture suggests that Strive continues to view price pullbacks as part of its long-term treasury strategy. The company’s latest purchase also pushed it further toward the top 10 publicly traded corporate Bitcoin holders. Strive had previously signaled that it would continue its Bitcoin accumulation strategy aggressively and had laid out a long-term target that could reach up to 75,000 BTC. The company was previously reported to be watching large supply opportunities, including potential Mt. Gox-related sales, as part of this strategy.Strive CEO Matt Cole also shared details of the latest purchase in a post on X. Cole stated that the 2,500 BTC was acquired at an average price of $74,092 and that the company’s total position had reached approximately 19,000 BTC. The announcement also included internal performance metrics linked to the company’s Bitcoin strategy. Strive reported a quarter-to-date BTC yield of 23 percent and a year-to-date BTC yield of 36.7 percent.The company also reported an amplification ratio of 57 percent. This metric is followed as an indicator of how much Strive has expanded its Bitcoin position relative to its capital base. In corporate Bitcoin treasury models, such ratios show not only whether companies are making direct purchases, but also how they use their financial structure to increase Bitcoin exposure.At the same time, Strive emphasized that it is not focused solely on aggressive Bitcoin accumulation. The company said it had increased its cash reserves to maintain an 18-month dividend reserve. This move aims to create a more predictable area for shareholder payments despite volatility in Bitcoin’s price. In this way, Strive is trying to strike a more cautious balance in balance sheet management while continuing to expand its Bitcoin position.Strive’s purchase came during a week in which attention in the corporate Bitcoin market had turned to Strategy. Strategy, the largest corporate Bitcoin holder, disclosed on Monday that it had sold 32 BTC. The company generated $2.5 million from the sale, at an average price of $77,135. Although the amount sold was very small compared to its total holdings, the move drew attention because it was Strategy’s first publicly disclosed Bitcoin sale.The development came on top of weakness in Bitcoin and the broader crypto market, increasing pressure on investor sentiment. Some market participants interpreted Strategy’s sale as a symbolic shift, while Strive’s purchase during the same period highlighted a divergence between corporate strategies. On one side was the largest corporate Bitcoin holder making a limited sale; on the other was Strive, using the pullback to increase its position.Strive also received a positive assessment from the analyst side. Benchmark analyst Mark Palmer initiated coverage of Strive on Tuesday with a Buy rating and a $32 price target. This target implies roughly 93 percent upside, even after the company’s Class A shares fell 3.59 percent to $16.58 in pre-market trading.Benchmark’s assessment shows that Strive’s Bitcoin treasury strategy is still seen by the market as a strong growth story. However, the company’s share performance remains directly tied to fluctuations in Bitcoin’s price and investor appetite for the corporate treasury model. For this reason, Strive’s new Bitcoin purchase is being closely watched not only in terms of balance sheet size, but also as an indicator of whether risk appetite in institutional crypto investment remains intact.

2 Jun 2026

Mt. Gox Transfers $739 Million Worth of Bitcoin

Mt. Gox wallets, which have been closely watched by the crypto market for years, have moved again. According to Arkham Intelligence data, the defunct crypto exchange Mt. Gox transferred a total of 10,306 <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">BTC </a>to two different addresses early Tuesday morning. At current market prices, the total value of these transactions is approximately $739 million. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-06-02-121956-5466379d.webp" alt="Ekran görüntüsü 2026-06-02 121956.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> The move drew attention because it marked the first major Bitcoin transfer from Mt. Gox-linked wallets since March. Similar large transfers in the past have sometimes taken place before creditor repayments. For that reason, investors have started watching whether the latest transactions could also be linked to a possible distribution process.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Did the transfers cause selling pressure?</h2>According to Arkham data, Mt. Gox sent 10,306 BTC from its cold wallets to an unmarked address beginning with “14FE…c9eq” at around 7:47 a.m. Turkish time on Tuesday. The transfer was valued at approximately $730.8 million at the time of the transaction. In the same time frame, 116.3 BTC was also moved to the exchange’s hot wallet.About two hours later, another transaction took place at around 9:46 a.m. Mt. Gox-linked wallets transferred 116.3 BTC to another address beginning with “1A4x…QNj4.” The same transaction also included a very small amount of Bitcoin, worth around $1.19, sent to a Bitstamp cold wallet.Arkham currently marks the transferred Bitcoin as “unspent.” This shows that the funds have not yet been moved to any exchange and that there is no clear sign they are being prepared for direct sale. The fact that the receiving address is not associated with a centralized or decentralized exchange was also one of the details that limited the initial panic in the market.Still, the Mt. Gox name continues to carry strong psychological weight in the Bitcoin market. Repayments to the exchange’s creditors have long been tracked as a potential source of selling pressure in the crypto market. In the past, large wallet movements have sometimes been interpreted as a signal that creditor repayments were approaching. However, it is still unclear whether the latest transfers were made within that context.Mt. Gox still holds 34,504 BTC across its wallets. These holdings are currently valued at approximately $2.43 billion. Therefore, while the latest transfer is large, it does not represent the exchange’s entire Bitcoin reserve. From a market perspective, the key question is how much of these assets could be sold on the spot market if they are distributed to creditors.On the other hand, the situation is not being interpreted only through the possibility of direct selling. Mt. Gox claims have recently started attracting interest from institutional investors as well. Strive Asset Management was previously reported to be planning to build a 75,000 BTC treasury by purchasing approved but undistributed Mt. Gox claims. That plan is said to point to a size of around $8 billion.This development suggests that some creditors may prefer to cash out their claims before distribution. In such a scenario, not all Bitcoin would necessarily enter the spot market directly. Institutional buyers taking over these claims could change how potential selling pressure is reflected in the market.Mt. Gox is remembered as one of the most well-known collapses in Bitcoin history. The Tokyo-based exchange handled around 70% of global Bitcoin transactions in 2013. However, after a major security breach in 2014, approximately 850,000 BTC was lost. The company then filed for bankruptcy protection, and the creditor repayment process turned into a complex legal case that has continued for years.The exchange began repaying creditors in July 2024 through partner platforms such as Kraken and Bitstamp. However, the rehabilitation trustee extended the repayment deadline to October 2026 last year. This marked the third postponement since the original deadline of October 31, 2023.

2 Jun 2026

Radiant Capital to Shut Down After Failing to Recover From $50 Million Exploit

Decentralized finance protocol Radiant Capital has decided to wind down its operations after failing to recover from a major attack in 2024. The project spent roughly 18 months trying to get back on track, but said it was unable to recover a meaningful portion of the stolen funds or secure fresh capital. As a result, Radiant Capital said the DAO no longer has a viable path forward. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-06-02-094002-0c70a53c.webp" alt="Ekran görüntüsü 2026-06-02 094002.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> In a statement shared on X, Radiant Capital said the protocol will move into a “maintenance state.” During this period, the frontend and smart contracts will remain live and accessible. Users will still be able to withdraw funds, repay loans and manage their open positions.The team stressed that the decision was not made lightly. According to the statement, contributors and community members continued working under increasingly difficult conditions in recent months to support users and keep the protocol operational. However, Radiant Capital said effort alone was not enough without fund recovery, new capital or renewed growth.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">2024 hack: What happened?</h2><a href="https://jrkripto.com/tr/coin/rdnt" target="_blank" rel="noreferrer" class="text-primary underline">Radiant Capital </a>suffered a major exploit in October 2024 targeting its deployments on Arbitrum and BNB Chain. The attacker reportedly used a backdoor contract to gain unauthorized access and drain roughly $50 million worth of assets from the protocol. At the time, security researchers said the losses had reached about $51 million.The attack caused more than financial damage. It also severely weakened trust in Radiant Capital. In decentralized finance, user confidence is often just as important as available capital, and large exploits can directly affect a project’s chances of long-term survival.Radiant Capital had already faced a separate security incident earlier in 2024. At the beginning of that year, the protocol was hit by a flash loan attack that drained around 1,900 ETH. The stolen assets were worth about $4.5 million at the time. Two major security incidents in the same year further weakened the project’s ability to recover.The company emphasized that the current decision will not prevent users from accessing their funds. During the maintenance period, the protocol’s core functions will remain available. This means users can close positions, repay debt and withdraw assets.Radiant Capital also said recovery efforts have not been fully abandoned. If any funds are retrieved in the future, they will be returned to affected users. Still, the current picture shows that the project will not return to an active development and growth phase. Instead, Radiant Capital will remain in a limited state focused on allowing users to safely manage their existing positions.Radiant Capital’s shutdown once again shows how lasting the consequences of security breaches can be for DeFi projects. Decentralized finance protocols offer high-yield opportunities and cross-chain accessibility, but their complex smart contract structures also continue to make them attractive targets for attackers.The number of attacks across the crypto ecosystem has also increased sharply in recent months. According to DeFi Llama data, the number of crypto hacks reached a record monthly high in April. Although the total amount of stolen funds did not set a new record, the fact that the number of exploits exceeded 20 showed that security risks continue to grow across the sector.The Radiant Capital case highlights that technical security is critical not only at launch, but throughout the entire life cycle of a DeFi protocol. After a major exploit, regaining user trust, replacing lost capital and attracting new investment can become far more difficult than expected.For this reason, Radiant Capital’s closure should not be viewed only as the failure of a single protocol. It also stands as a current example of how decisive security, capital management and post-crisis recovery can be in the DeFi market. Keeping withdrawals and position management open for users remains important in the short term, but Radiant Capital no longer appears able to continue as an active project.

2 Jun 2026

Binance Opens 7,000 U.S. Stocks to Crypto Users

<a href="https://jrkripto.com/tr/exchanges/binance" target="_blank" rel="noreferrer" class="text-primary underline">Binance </a>has launched a new product that allows users outside the United States to invest directly in more than 7,000 stocks and ETFs using crypto assets. On Monday, the exchange began offering non-U.S. customers access to more than 7,000 U.S.-listed stocks and exchange-traded funds. The platform offers zero commissions and fractional share purchases starting from a minimum of $5. <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-06-01-150200-9d96b8b5.webp" alt="Ekran görüntüsü 2026-06-01 150200.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> According to Binance’s official announcement, users will be able to fund their positions with USDC, USDT, BNB and several other digital assets. Stock purchases will be executed by brokerage firm Nest Trading, while custody, dividend payments and corporate actions will be handled by New York-based Alpaca.Co-CEO Richard Teng told Fortune that U.S. equities account for more than half of the global market, yet access to these markets remains costly and complex for investors in many countries. Binance is positioning this product as a direct response to that gap.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">bStocks: Stocks Are Coming On-Chain</h2>On the same day, Binance also announced a new feature called bStocks. The tool is not live yet, but it will allow users to convert their stock holdings into tokenized assets on BNB Chain.The exchange said bStocks would provide near-instant settlement, compared with traditional stock settlement cycles that can take up to one day. In addition, the tokens created through the feature will be usable in DeFi applications such as lending and liquidity provision. Binance said the feature will become available in the coming weeks.<h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Tokenized Stocks Continue to Grow</h2>The move comes in the middle of rapid growth in the tokenized equities market. According to market data, daily trading volume in tokenized stocks and ETFs hit a record $3.57 billion on May 19, with Binance and Hyperliquid standing out in that volume.A similar momentum is visible across the broader sector. Kraken and Robinhood launched their own tokenized stock products over the past year. What sets Binance’s version apart is that users will be able to initiate the tokenization process themselves.Still, Binance’s path in this area has not been entirely smooth. In 2021, the exchange had to shut down its previous tokenized stock program after regulatory pressure from Germany, Hong Kong and several other markets. Its return came in February, when Binance was reported to have listed ten tokenized U.S. stocks and ETFs through a partnership with Ondo Finance.Meanwhile, the stock trading launch directly aligns with the “super app” vision outlined by CEO Richard Teng in a wide-ranging interview with The Block in April. In that interview, Teng spoke about Binance’s goal of moving beyond crypto trading and becoming a global financial platform.

1 Jun 2026

Blockchain, Altcoin

MoneyGram Launches Its Own Stablecoin on the Stellar Networkabout 3 hours ago

BTC

Strive Buys the Dip: Company Adds $185 Million Worth of Bitcoinabout 4 hours ago

BTC

Mt. Gox Transfers $739 Million Worth of Bitcoinabout 7 hours ago

Altcoin

Radiant Capital to Shut Down After Failing to Recover From $50 Million Exploitabout 10 hours ago

Blockchain

Binance Opens 7,000 U.S. Stocks to Crypto Users1 day ago

Blockchain, Altcoin

MoneyGram Launches Its Own Stablecoin on the Stellar Networkabout 3 hours ago

BTC

Strive Buys the Dip: Company Adds $185 Million Worth of Bitcoinabout 4 hours ago

BTC

Mt. Gox Transfers $739 Million Worth of Bitcoinabout 7 hours ago

Altcoin

Radiant Capital to Shut Down After Failing to Recover From $50 Million Exploitabout 10 hours ago

Blockchain

Binance Opens 7,000 U.S. Stocks to Crypto Users1 day ago

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