According to @cas_abbe, crypto custodian Anchorage Digital announced it will phase out support for Circle's USDC and Agora's AUSD stablecoins, citing its new "Stablecoin Safety Matrix" which identified "elevated concentration risks associated with their issuer structures." The firm is directing institutional clients to convert these assets into a rival token, Global Dollar (USDG), in which Anchorage is a founding partner, according to the report. The decision has triggered significant backlash from the crypto community. Nick Van Eck of Agora accused Anchorage of misrepresenting facts and publishing a "hit piece" to promote a stablecoin where it has a commercial interest. Viktor Bunin from Coinbase echoed this sentiment, calling the move "unserious and bizarre." In response, Circle defended USDC's strong compliance record and transparency. Other major players, including crypto custodians BitGo and prime broker FalconX, have publicly confirmed they will not be dropping support for USDC or AUSD. For traders, this development highlights intensifying competition in the stablecoin sector and could create short-term liquidity shifts for the affected tokens on certain platforms.

According to @zachxbt, crypto custodian and federally chartered bank Anchorage Digital announced it will phase out support for major stablecoins including Circle's USDC, Agora's AUSD, and Usual USD's USD0. The firm cited its proprietary 'Stablecoin Safety Matrix,' which identified 'elevated concentration risks' with the issuers' structures, as stated by Anchorage's head of global operations, Rachel Anderika. This decision has ignited significant controversy and pushback from prominent industry figures. Nick Van Eck, whose firm Agora issues AUSD, accused Anchorage of misrepresenting facts and failing to disclose its commercial interest in a rival stablecoin, Global Dollar (USDG), in which Anchorage is a founding partner. Jan Van Eck, CEO of asset manager Van Eck, and Viktor Bunin of Coinbase also publicly questioned the validity of Anchorage's risk assessment. In response, a Circle spokesperson defended USDC's robust compliance and transparency. Other major players, including crypto custodians BitGo and prime broker FalconX, have publicly stated they will continue to support both USDC and AUSD, signaling a potential rift in institutional stablecoin preferences.