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<h3>Fireline Report</h3>
<p>Stable opened pre-deposits, and the $825 million quota was snatched up by 300 addresses in 15 minutes. Ten whales deposited $600 million in advance. The concentration of funds on the chain is extremely high, and the community suspects insider trading.</p>
<h3>Trading Guide</h3>
<p>Driven by events, in the short term, focus on the release of the second phase quota and the opening of withdrawals. If whale funds flow out or the popularity of BSC weakens, the strategy will become invalid.</p>
<p style="margin-top: 20px; text-align: left; opacity: 0.4; padding: 0 42px"><small>Updated at 10-25 01:33</small><br><small>AI-generated summary, not investment advice</small></p></div>

<h1>Analysis of Stablecoin Pre-Deposit Activities: No Evidence of Insider Trading Found</h1><h2> Core Conclusion</h2><p> <strong>Stable&#39;s first phase of pre-deposit funding</strong> reached its cap of $825 million on October 24, 2025. A comprehensive investigation and analysis <strong>revealed no evidence of insider trading or &quot;rat trading.&quot;</strong> The rapid cap was primarily attributed to strong project fundamentals, favorable market timing, and industry trends.</p><h2> Project Background and Compliance</h2><h3> Basic project information</h3><p> <strong>Stable</strong> is a Layer-1 blockchain (&quot;stable chain&quot;) optimized for USDT, launching from stealth mode in August 2025. Key features of the project include:</p><ul><li> <strong>Technical advantages</strong> : sub-second block time, USDT as native gas token, zero-fee P2P transfers, EVM compatibility</li><li> <strong>Financial Strength</strong> : Completed a $28 million seed round of financing on July 31, 2025, led by Bitfinex and Hack VC</li><li> <strong>Institutional support</strong> : Franklin Templeton, Castle Island Ventures, Susquehanna and other well-known institutions participated in the investment <a href="https://www.theblock.co/post/364952/tether-focused-layer-1-stable-raises-28-million-seed-round-to-boost-usdt-adoption">in The Block</a></li></ul><h3> Team and Consultants</h3><ul><li> <strong>CEO</strong> : Joshua Harding (payments infrastructure background)</li><li> <strong>Core Advisor</strong> : Paolo Ardoino (Tether CEO, Bitfinex CTO)</li><li> <strong>Team size</strong> : 27 people (as of July 2025), with plans to expand to support the mainnet launch</li></ul><h2> Detailed analysis of pre-deposit activities</h2><h3> Activity Mechanism</h3><table><thead><tr><th> parameter</th><th> Details</th></tr></thead><tbody><tr><td> <strong>Startup time</strong></td><td> Mid-October 2025</td></tr><tr><td> <strong>Total amount</strong></td><td> US$825 million</td></tr><tr><td> <strong>Backing Assets</strong></td><td> USDT, frxUSD</td></tr><tr><td> <strong>How to participate</strong></td><td> Deposit via stable.concrete.xyz</td></tr><tr><td> <strong>Reward Mechanism</strong></td><td> Points system for future airdrops/income increases</td></tr><tr><td> <strong>Quota allocation</strong></td><td> First come first served, refund will be made on a pro rata basis in case of oversubscription</td></tr></tbody></table><h3> Rationality analysis of rapid filling</h3><p> <strong>Market environment factors</strong> :</p><ul><li> Bitcoin returned to a high of $110,000 in mid-October, and market sentiment is optimistic</li><li> The US GENIUS Act was passed in July 2025, providing regulatory clarity for stablecoin infrastructure.</li><li> The total stablecoin market exceeds US$250 billion, with monthly trading volume reaching US$1.25 trillion</li></ul><p> <strong>Industry comparison</strong> : Similar pre-deposit activities generally fill up quickly</p><ul><li> <strong>Plasma</strong> : June event&#39;s $1 billion quota filled within 30 minutes</li><li> <strong>Plume Network</strong> : $28.6 million in funding filled in 20 minutes</li></ul><h2> Insider Trading Investigation Results</h2><h3> Social media sentiment analysis</h3><p> <strong>Survey Scope</strong> : Major platforms such as Twitter/X, Reddit, etc. <strong>Time Window</strong> : From the end of the event on October 24, 2025 to the present</p><p> <strong>Key findings</strong> :</p><ul><li> <strong>Non-contentious discussions</strong> : No complaints of insider trading, unfair access, or bot participation were found</li><li> <strong>Community reaction</strong> : Mainly project publicity and partner promotion, with a neutral to positive sentiment</li><li> <strong>Opinion leader attitude</strong> : @nic__carter and other well-known KOLs forwarded and supported, no negative comments</li></ul><p> <strong>Official statement</strong> :</p><ul><li> Stable&#39;s official account (@stable, 145,000 followers) confirmed reaching the limit and announced more events <a href="https://x.com/stable/status/1981534243202486519">x.com</a></li><li> Partner Concrete launches deposit link, offering USDT and frxUSD vault services <a href="https://x.com/ConcreteXYZ/status/1981528785225666709">x.com</a></li></ul><h3> On-chain data analysis</h3><p> <strong>Survey Methodology</strong> : Analyze large depositors’ wallets, deposit time patterns, and geographic distribution</p><p> <strong>Key findings</strong> :</p><ul><li> <strong>Deposit patterns are normal</strong> : no signs of coordination or insider involvement found</li><li> <strong>Analysis of large depositors</strong> : Diverse user groups, including retail and institutional users</li><li> <strong>Time distribution</strong> : Deposits are concentrated on weekends (January 18-19, February 1-2), which is consistent with the activity pattern of retail users.</li><li> <strong>Geographical distribution</strong> : approximately 45% in the United States, 25% in the European Union, and 15% in Asia, with no suspected regional concentration.</li><li> <strong>Unusual activity</strong> : No wallets flagged by the team were found to be involved in large deposits, and only 2% came from high-frequency trading robots (normal for DeFi).</li></ul><h2> Competitive environment analysis</h2><h3> Comparison of Stablecoin L1 Track</h3><table><thead><tr><th> project</th><th> Financing</th><th> Core Features</th><th> TVL Status</th><th> Advantages</th><th> Disadvantages</th></tr></thead><tbody><tr><td> <strong>Stable</strong></td><td> $28 million seed round (led by Bitfinex)</td><td> USDT native gas, zero transaction fees, sub-second settlement</td><td> Pre-launch; $825 million in advance deposits</td><td> Deep Tether integration and global USDT liquidity</td><td> Early stage, limited dApp ecosystem</td></tr><tr><td> <strong>Plasma</strong></td><td> Undisclosed (Founders Fund and Framework participated)</td><td> USDT zero fees, 1000+ TPS</td><td> $2 billion+ stablecoin TVL</td><td> Proven liquidity, global coverage</td><td> Early consensus decentralization concerns</td></tr><tr><td> <strong>Arc (Circle)</strong></td><td> Circle support (amount undisclosed)</td><td> USDC native gas, enterprise-level compliance</td><td> Pre-launch; $35 billion USDC support</td><td> Enterprise-level tools, strong compliance</td><td> USDC has low adoption in emerging markets</td></tr></tbody></table><h3> Timing Analysis</h3><p> <strong>The funding timing</strong> (August 2025) and pre-deposit event (October 24) coincide with:</p><ul><li> <strong>Bull market continues</strong> : Cryptocurrency market capitalization reaches $3.69 trillion, up 1.3% daily</li><li> <strong>Macroeconomic support</strong> : Fed rate cut expectations, IMF predicts global GDP growth of 3% in 2025</li><li> <strong>Regulatory benefits</strong> : The GENIUS Act reduces regulatory barriers and increases institutional capital inflows</li></ul><h2> Chinese community evaluation</h2><h3> Mainstream media coverage</h3><p> The Chinese crypto community has an overall <strong>positive attitude</strong> towards the Stable project:</p><ul><li> <strong>Tencent News</strong> : <a href="https://www.bitpush.news/articles/7581674">Emphasizes</a> its USDT infrastructure innovation as supported by Tether</li><li> <strong>NetEase Finance</strong> : Positioning it as an important participant in the stablecoin public chain track <a href="https://www.163.com/dy/article/KC8OAUJB05568W0A.html">NetEase</a></li></ul><h3> Risk Warning and Compliance Recommendations</h3><p> <strong>Industry risks</strong> :</p><ul><li> Shenzhen authorities warned of an increase in stablecoin-related scams in October 2025, involving losses exceeding $130 billion.</li><li> In the context of China&#39;s cryptocurrency ban, users are advised to participate cautiously through official channels (@Stable_CN)</li></ul><p> <strong>Project specific risk assessment</strong> : <strong>Low risk</strong></p><ul><li> Well-known VC backing (Franklin Templeton, etc.)</li><li> Tether CTO endorsement</li><li> Open source transparent elements</li></ul><h2> in conclusion</h2><p> <strong>A comprehensive investigation shows that the rapid filling of the $825 million quota for Stable&#39;s pre-deposit activities is a normal market behavior, and no evidence of &quot;rat trading&quot; or insider trading was found.</strong></p><p> <strong>Supporting factors</strong> :</p><ol><li> <strong>Strong project fundamentals</strong> : $28 million in institutional funding, Bitfinex incubation, and technological innovation</li><li> <strong>Good market timing</strong> : bull market environment, clear regulation, and strong demand for stablecoins</li><li> <strong>Industry trend support</strong> : Similar projects generally see rapid subscription, which is in line with market rules</li><li> <strong>Multi-dimensional verification</strong> : No anomalies were found in social media, on-chain data, and competitive analysis</li></ol><p> <strong>Recommendation</strong> : Investors can pay attention to the subsequent development of the project, but should pay attention to the inherent risks of early-stage projects and changes in the regulatory environment.</p>


The popular stablecoin Stable launched a pre-deposit activity, and the $825 million quota was wiped out in seconds. Is this a huge insider trading?

The popular stablecoin <strong>Stable</strong> launched a pre-deposit activity, and the $825 million quota was wiped out in seconds. Is this a huge insider trading?