Stablecoin Phase 2 Raises $860 Million, Surpassing Initial Funding Cap

The Stablecoin Pre-Deposit Event Phase 2, backed by Tether and focusing on USDC deposits, has surpassed its initial funding target of $500 million. Over $860 million was raised by November 7th, exceeding expectations and generating significant interest within the financial markets. This rapid fundraising event demonstrates the increasing institutional involvement in stablecoin ecosystems, sparking discussions on regulatory frameworks for these assets.