Polygon (POL) news

Polymarket, the largest fully on‑chain prediction market, announced it will replace the bridged USDC.e token used on Polygon with native USDC, thanks to a partnership with Circle. Circle will introduce the native Polymarket‑USDC in the coming months, allowing all trading activity, order placement and settlement to occur directly on Polygon without cross‑chain swaps. The move is expected to speed transactions and improve user experience, as native USDC is already issued on about 30 chains, and Circle plans to deepen native support on high‑impact networks.

Polygon Labs has cut 60 employees after acquiring Coinme and Sequence for over $250 million, a source told CoinDesk. The layoffs, part of a restructuring aimed at turning the firm into a payment‑focused blockchain, affect teams across the company, not just one function. The move follows two prior rounds: a 20 % cut in early 2023 and another 19 % reduction in February 2024. CEO Marc Boiron said the cuts were needed to eliminate overlap from the acquisitions and to support the goal of “moving all money on‑chain.” Polygon remains well‑funded, with more than $200 million in cash and 1.9 billion MATIC tokens. The layoffs come as Polygon’s native MATIC token fell 6 % in 24 hours, while the broader market slipped 1 %. The firm’s spokesperson emphasized gratitude toward departing staff and commitment to support them through the transition.

Polygon Labs announced layoffs as it pivots to a payments‑first strategy built around stablecoin rails, following a $250 million acquisition of Coinme and Sequence. Sources say up to 30% of staff were cut to consolidate overlapping roles after the integration. CEO Marc Boiron said the cuts reflect a structural shift to focus on moving all money on‑chain, not performance issues. The layoffs come after prior 19% workforce reductions and mirror a broader trend of cost discipline among major crypto firms like Coinbase and Binance.

Researchers at Group‑IB reported that the DeadLock ransomware, first spotted in July, hides by using Polygon smart contracts to store and rotate proxy server addresses that the malware uses to communicate with victims. The code updates a specific contract function to change its command‑and‑control infrastructure on‑chain, creating a distributed, hard‑to‑disrupt network. Although exposure is low and only a few victims are known, Group‑IB warns the technique is innovative and potentially dangerous, as the blockchain‑based proxy list persists indefinitely and can be modified in infinite variants, making disruption difficult. The tactic echoes earlier “EtherHiding” and North Korean threat actor UNC5342, which embed malicious JavaScript payloads in public contracts to create a decentralized command‑and‑control server.

Polygon has reportedly cut about 30 % of its staff in a recent internal layoff, though the company has issued no public statement. Insiders told BeInCrypto and social‑media posts from former employees confirm the mass exit. The reduction aligns with a broader restructuring that Polygon announced earlier this month, pivoting from a scaling and DeFi focus to a payments‑first strategy after acquiring Coinme and Sequence to build its Open Money Stack. Polygon has not confirmed the layoffs, but the move follows a 2024 layoff of roughly 20 % of the workforce, and comes amid network upgrades and a recent rally of the POL token.

Group‑IB has warned that the DeadLock ransomware family uses Polygon smart contracts to distribute and rotate proxy server addresses, helping it evade detection. The malware was first seen in July 2025 and has attracted little attention because it has no public affiliate program or data‑leak site. The technique mirrors Google's 2024 "EtherHiding" campaign, which abuses Ethereum contracts to conceal malware. DeadLock pulls proxy endpoints from the Polygon network via JavaScript embedded in infected HTML, making it difficult for defenders to block the supply chain. Infected machines rename files with a .dlock extension, display ransom notes and claim stolen data. Researchers say the operators now run their own infrastructure, using smart contracts for address management and embedding a Session-based communication channel.

Polygon Labs has agreed to buy Coinme and Sequence in a deal valued at more than $250 million. The acquisitions give the Ethereum‑scaling blockchain U.S. money‑transmitter licenses, a network of 50,000 cash‑to‑crypto kiosks, and embedded wallet infrastructure. CEO Marc Boiron said the “Polygon Open Money Stack” will combine regulated rails, stablecoin payment options and wallet tools to create a fully integrated, regulated payments platform for enterprises. The move comes as the U.S. stablecoin payments market heats up, with rivals like Stripe, PayPal, Visa and Mastercard also expanding their stablecoin capabilities.

Polygon Labs announced purchase of Coinme and Sequence for $250M, aiming to become a regulated payments company and build middleware that connects on-ramp/off-ramp services. Coinme provides cash-to-crypto kiosks at 50,000 US locations; Sequence offers enterprise smart wallets and cross-chain routing, and both will support Polygon’s Open Money Stack toolkit that enables payments, lending, and swaps. Polygon plans to generate revenue via transaction fees and support the native POL token.

Polygon Labs announced a $250 million acquisition of crypto exchange Coinme and wallet‑infrastructure firm Sequence to bolster its newly unveiled Open Money Stack, aimed at simplifying global payments on Polygon Chain. The stack will integrate physical cash and digital fiat on‑ramps, wallet infrastructure, and cross‑chain orchestration, allowing developers to access a single, compliant API for instant, reliable money movement. Coinme will operate as a wholly‑owned subsidiary, providing money‑transmitter licences in 48 U.S. states and a network of 50,000 retail locations; Sequence adds a smart wallet routing engine that eliminates the need for bridges or swaps. The deals, pending regulatory approval, are expected to close this year, with the stack slated for launch by year‑end, marking Polygon Labs’ shift from scaling to a payments‑focused blockchain platform.

Polygon Foundation CEO Sandeep Nailwal outlined new tokenomics for POL, stressing that 100 % of base transaction fees are burned, daily burns average 1.5 million POL—roughly 5 % annual deflation. He highlighted staking rewards tied to network usage and future Agglayer interoperability fees as primary benefit streams. After a weekend high of $0.1842, POL fell 6.7 % amid market volatility. On‑chain data shows active addresses dropped from 2.9 million to about 489 thousand, while daily revenue leapt to ~$200 k, a sharp contrast that analysts view as normal swing. Revolut has teamed with Polygon for crypto remittances and stablecoin payments, and the foundation’s Open Money Stack initiative aims to move all money on‑chain, positioning Polygon as a leader for global payments.