Executive Summary
USDf drew $32.04M of net mints at maximum pressure intensity while wM and FRXUSD burned at -100. The Bank Run Gauge recovered to -14.5 from -41.0; a return to -20 puts flow stress ahead of USDC's $766M weekly drain.
USDf took in $32.04M of net mints over 24 hours, a pressure reading of 100 against its own 30-day baseline and the largest single-coin flow shift on today's tape. Two coins ran the other way at equal intensity: wM shed $4.00M and FRXUSD $3.11M, both at -100. Ethereum carried +$74.66M net across all issuers, while Base finished effectively flat at -$8.34K.
The Bank Run Gauge reads -14.5 and CAUTIOUS, recovered from -41.0 a day earlier, with no flight-to-quality flag set. Against that, USDC is down $765.69M over seven days to $73.75B, about 95% of the $806.61M shaved from the $318.52B aggregate, which now sits 0.37% below the Digest-window high set 11 days ago. PSI printed 92.6, day 86 of BEDROCK.
USDf's inflow landed in a coin the safety desk grades F at 39, capped because its oracle control topology cannot be resolved. DEWS moved AUDD, AUDm, AUDX and avUSD from CALM to WATCH, leaving five coins at ALERT and 101 at WATCH. pmUSD narrowed to 4,513 bps below peg at $0.549 on day 138. A gauge print of -20 or worse at the next snapshot would put flow stress ahead of supply rotation as the lead signal.