Total stablecoin market cap touched $190B this week, with USDT and USDC accounting for 84%. The flows behind the number.
Marcus Tan Verified
Senior Reporter, DeFi
Marcus covers decentralised finance — protocol design, liquidity dynamics, oracle attacks, and the cross-border policy environment around DeFi in Asia. Before TheWeal he was a reporter at a Hong Kong fintech outlet where he produced the original investigation into a $40M oracle manipulation attack that led to industry-wide policy changes around price-feed security.
Verified March 2026 · TheWeal Editorial — Identity verified; prior bylines cross-referenced
- DeFi protocols
- Lending & AMM mechanics
- Oracle infrastructure
- Asian regulatory landscape
- Liquidity & market makers
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Hong Kong University of Science & Technology 2019BBA Finance
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TechInAsia 2022u20132026Senior fintech reporter
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South China Morning Post 2020u20132022Markets contributor
- ChainLink Academy u2014 Oracle Architecture (2024)
- SOPA Honorable Mention 2024 — Technology Coverage
- SCMP Best Beat Reporter 2021
- Token2049 HK (2025) — moderator, oracle security panel
- Consensus HK (2024) — speaker, DeFi insurance
Holds no DeFi protocol token positions. Holds BTC + ETH long-term positions disclosed publicly. No paid content. No protocol advisory roles.
By Marcus Tan
3 articles published on TheWeal.
Memecoin trading volume normalized in May after Q1's blow-off top. Who is still buying, who exited, and what the retention curve looks…
Aave shipped its long-awaited V4 with cross-chain unified liquidity. Initial TVL migration data and what changes for borrowers.
Story tips, source intros, comment requests
Marcus can be reached at marcus@theweal.com. For Signal contact details, use email first — Signal numbers are exchanged after initial vetting. Pitches that are off-topic for Senior Reporter, DeFi coverage will not receive replies.