SEC Allows USDC as Cash, Ethena Hits $9.5B, Bybit USDT Multi-Chain

Welcome to The Daily Yield – your essential resource for stablecoin and digital asset industry news, powered by Stabledash and hosted by Drew Rogers.

Today's Headline Stories:

- SEC Greenlights Fully-Backed Stablecoins: New guidance allows companies to treat select stablecoins (like USDC, USDP) as cash on the balance sheet – a game changer for public companies.
- Ethena’s USDE Hits $9.5B: The algorithmic stablecoin surges 75% in one month, becoming the world’s #3 stablecoin—and DeFi’s new darling.
- Bybit’s USDT Zero Goes Multi-Chain: Bybit expands the Omnichain version of Tether to Hyper EVM, Corn, and Berachain—covering all user network fees to drive adoption and unify fragmented liquidity.