Data Sources & Methodology

Tokenized deposits vs stablecoins is becoming a treasury-monitoring question, not just a policy debate

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Treasury Desk Brief · Treasury Taxonomy Explainer Public-source taxonomy / monitoring Retrieval date: 2026-06-03, Europe/Berlin Educational discussion only Short executive summary Tokenized deposits versus stablecoins is becoming a treasury-monitoring question, not just a policy debate. “Tokenized dollar” is not one category. Stablecoins, tokenized deposits, bank-issued tokenized money, wholesale settlement tokens and tokenized funds can have … Read more

Arbitrum’s 6,000 ETH Proposal Is Now a Traceability Story, Not Just a Transfer Story

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Treasury Desk Brief · Treasury Traceability Brief Public-source traceability monitoring Retrieval date: 2026-06-03, Europe/Berlin Educational governance analysis only Short executive summary The first Arbitrum treasury note focused on proposal scope, source of funds, benchmark logic, control model and delegate questions. This follow-up asks a narrower post-execution question: can public observers trace Arbitrum 6,000 ETH proposal … Read more

RLUSD and USD1 Challenger Watch: Supply Growth Is Not Reserve-Quality Proof

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Treasury Desk Brief · Stablecoin Watch Public-source monitoring Retrieval date: 2026-06-03, Europe/Berlin Educational discussion only Short executive summary RLUSD and USD1 are useful challenger-stablecoin monitoring cases, but supply growth is not reserve-quality proof. Public dashboards show RLUSD and USD1 as meaningful challenger stablecoins by supply / market-cap visibility, with RLUSD showing stronger 30-day growth in … Read more

Circle / USDC Reserve Benchmark: How to Read the Transparency Page and the Live Reserve Fund Layer

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Treasury Desk Brief · Stablecoin Watch Public-source monitoring Retrieval date: 2026-06-03, Europe/Berlin Educational discussion only Short executive summary Circle’s public USDC reserve stack has several evidence layers: issuer transparency page, monthly reserve examination / assurance reports, Circle Reserve Fund reporting, SEC filing layer, and public market dashboards. Circle states that USDC is backed by highly … Read more

Tether Q1 2026 Reserve Update: Composition, Excess Buffer and What Actually Changed

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Treasury Desk Brief · Stablecoin Watch Public-source monitoring Retrieval date: 2026-06-03 Educational discussion only Short executive summary Tether’s Q1 2026 reserve update reported a quarter-end reserve snapshot, an attached BDO assurance report, and a stated reserve buffer above liabilities. The headline numbers in the source pack are total assets of US$191.77B, total liabilities of US$183.54B, … Read more

Arbitrum’s April Treasury Management Update: syrupUSDC, USDai and the KPK Wind-Down as a Reporting Test

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Treasury Desk Brief · Treasury Management Update Brief Public-source monitoring Retrieval date: 2026-06-03, Europe/Berlin Educational governance analysis only Short executive summary Arbitrum’s April Treasury Management update publicly disclosed several treasury-management changes: a withdrawal from Gauntlet’s USDC Prime Vault on Morpho, a reported deployment into syrupUSDC, a sleeve labelled USDai funded from USTB and bIB01 withdrawals, … Read more

Dashboard Rank Is Not Treasury Policy: Why BUIDL, USYC, USDY and USTB Need a Different Review Path

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Treasury Desk Brief · Stablecoin Watch Public-source monitoring Retrieved 2026-05-26 Educational discussion only Short executive summary Stablecoin market structure still looks concentrated at the top, but the layer below USDT and USDC is becoming harder for treasury and risk teams to ignore. As of the publication-day source refresh, 2026-05-26, DefiLlama showed total stablecoin market cap … Read more

Not Every Onchain Dollar Is a Stablecoin: A Treasury Taxonomy for BUIDL, USYC, USDY and USTB

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Treasury Desk Brief · Treasury Taxonomy Explainer Public-source taxonomy / monitoring Retrieval date: 2026-06-01 Educational discussion only Short executive summary “Onchain-dollar” is not one asset class. A dollar-denominated token, a fiat-backed stablecoin, a synthetic dollar, a tokenized fund share, and a Treasury / RWA-like instrument can look similar in dashboards but belong in different treasury-policy … Read more

Uniswap after UNIfication: protocol fees, burn routing and the new governance-economics checklist

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Treasury Desk Brief · Governance Economics Impact Brief Public-source monitoring Retrieval date: 2026-06-01 Educational governance analysis only Short executive summary UNIfication was not just a “fee switch” proposal. The reviewed source pack frames it as a governance bundle covering protocol fees, burn routing, Unichain sequencer-fee routing, Foundation / Labs operating-model changes and a growth-budget path. … Read more

Stablecoin Market Share Is Moving. Reserve-Disclosure Stacks Still Differ.

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Publication date: [NEEDS TEAM INPUT] Source retrieval date: [NEEDS TEAM INPUT] Category: [NEEDS TEAM INPUT] Author / editor: Treasury Desk Methodology: Read methodology Legal scope: Read product boundary What this Brief does not prove: [NEEDS TEAM INPUT: explain what cannot be concluded from this article. Example: This Brief does not prove protocol safety, investment attractiveness, … Read more