Schlagwort: crypto business

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Tether plans new US dollar stablecoin as reserves near $120 billion amid Washington lobbying

  • Q1 2025 audit shows excess reserves down to $5.6 billion from $7 billion.
  • Tether’s reserves are managed by Cantor Fitzgerald, raising scrutiny over potential conflicts.
  • Competitor World Liberty Financial, backed by the Trump family, also plans to launch a stablecoin.

Tether, the world’s largest stablecoin issuer by market capitalisation, is preparing to launch a US-based stablecoin by the end of 2025 or early 2026.

The move marks a shift in the company’s strategy as it aims to align itself more closely with American regulatory frameworks.

While its international USDT token is already dominant in global crypto trading, the proposed dollar-pegged stablecoin will be designed to comply with domestic regulations in the United States.

Tether CEO Paolo Ardoino revealed the development during an interview at the Token2049 conference in Dubai.

He confirmed the company was awaiting the outcome of pending US legislation before finalising a launch timeline.

The push coincides with Tether’s broader attempt to reposition itself in the US as a compliant and cooperative player, following past controversies over its reserve disclosures and regulatory fines.

Lobbying efforts intensify in Washington

Tether’s domestic pivot comes as Ardoino increases his presence in Washington, DC.

His recent efforts include private meetings with lawmakers and a Capitol Hill lunch with Republican Senator Bill Hagerty, according to reports.

The company is now actively lobbying in support of proposed legislation like the GOP-backed GENIUS Act, which includes provisions that could benefit foreign issuers such as Tether if they agree to cooperate with US law enforcement.

Ardoino has also underscored Tether’s relationship with US agencies, stating that no other financial entity, traditional or crypto, matches its collaboration level with law enforcement.

While the company was once criticised for allegedly enabling criminal transactions, its new strategy focuses on transparency and legal compliance as a means of gaining regulatory approval.

Tether’s headquarters remain in El Salvador, but the company’s efforts to develop a domestically compliant stablecoin reflect its evolving approach to regulatory alignment.

It is positioning the new token as separate from its global USDT product, tailored to meet specific legal and financial rules within the US.

Cantor Fitzgerald link draws scrutiny

As part of its reserve management strategy, Tether holds billions in US Treasuries managed by Cantor Fitzgerald, a major Wall Street firm.

The firm’s Q1 2025 attestation report confirmed holdings of nearly $120 billion in Treasuries, though its excess reserves declined to $5.6 billion from over $7 billion in December 2024.

The Cantor connection has attracted attention due to the firm being led by the sons of US Commerce Secretary Howard Lutnick.

Ardoino addressed concerns around conflicts of interest, stating that proper “walls” are in place and that he does not communicate directly with the secretary.

He also emphasised Tether’s healthy capital position, noting $7 billion in excess equity and suggesting that traditional institutions should emulate its model.

In 2021, Tether paid $18.5 million to settle charges by the New York attorney general over misrepresentations about its reserves.

Since then, it has begun publishing routine attestation reports.

Ardoino insisted the company is now better capitalised than many traditional financial firms and prepared to withstand significant market shocks.

Domestic stablecoin market heats up

Tether’s expansion into the US stablecoin market comes amid increased political attention.

The Trump-backed World Liberty Financial recently announced plans to launch its dollar-backed token, adding to the competition for regulatory legitimacy and market share.

While stablecoins remain a hot topic in Washington, the GENIUS Act and other proposals could set the stage for clearer compliance pathways for issuers.

Tether’s ability to influence policy could prove crucial as it seeks to enter a space where scrutiny is likely to intensify in the run-up to the 2026 elections.

Tether’s move to issue a domestically regulated stablecoin is not only a technical milestone but also a political statement.

As regulatory conversations gain momentum in Washington, its future may depend less on market dominance and more on legal alignment with US financial policy.

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Ethereum price prediction 2025–2030: ETH could reach $5,925 if upgrades succeed

  • Ethereum is the world’s second-largest cryptocurrency.
  • Ethereum’s next major upgrade, Pectra, will go live on 7 May.
  • Vitalik Buterin has proposed replacing the Ethereum Virtual Machine (EVM) bytecode with RISC-V.

Ethereum is back in the spotlight as traders prepare for what could be a decisive breakout year.

With the Pectra upgrade scheduled for 7 May, combining two long-planned enhancements—Prague and Electra—the Ethereum blockchain is undergoing major changes.

At the same time, increased staking activity, improved scalability via Layer-2 solutions, and proposals to overhaul Ethereum’s virtual machine are shaping long-term expectations.

These upgrades, combined with falling gas fees and rising developer activity, are fuelling renewed forecasts that put ETH’s 2025 high at nearly $6,000.

Ethereum’s position as the world’s second-largest cryptocurrency by market capitalisation continues to attract institutional attention, even amid volatility.

Its ability to support decentralised applications and token ecosystems makes it critical to crypto’s future.

As activity migrates to cheaper sidechains, the base layer is evolving with efficiency in mind.

Early signals show ETH building momentum

Ethereum has started showing early signs of recovery after months of price stagnation.

ETH is currently trading at $1,841, above the 9-day simple moving average, with the relative strength index at 58.3, suggesting building momentum.

Source: CoinMarketCap

Analysts note that the price is consolidating in a range between $1,600 and $1,900, forming a potential rounding bottom pattern.

If ETH breaks through $1,900, the next resistance could appear near $2,200.

Although gas fee revenues fell to 3.18 ETH in April and average gas prices hit a four-year low at $0.16, the drop in network costs is making Ethereum more accessible for users.

The sharp fall in base-layer activity has raised sustainability concerns, but also indicates the shift of transactions to Layer-2s like Arbitrum and Base.

Pectra and staking add long-term value

Ethereum’s next major upgrade, Pectra, will go live on 7 May and is expected to introduce a range of technical improvements.

By combining the Prague and Electra upgrades, Pectra aims to streamline validator operations and reduce latency.

Alongside this, co-founder Vitalik Buterin has proposed replacing the Ethereum Virtual Machine (EVM) bytecode with RISC-V, a widely used open-source instruction set architecture.

If implemented, this would help Ethereum align more closely with traditional computing infrastructure and enhance future compatibility.

ETH staking has also increased, with the Ethereum 2.0 network drawing growing interest from long-term holders.

Combined with Layer-2 scaling solutions and low transaction costs, these developments are strengthening Ethereum’s fundamentals as a decentralised application platform.

ETH forecast shows a broad range

Ethereum’s price outlook for 2025–2030 varies significantly depending on market sentiment, adoption rates, and global macroeconomic factors.

In the near term, ETH could test resistance at $2,400 by the end of 2025 if the broader crypto market trends positively.

However, upside is expected to be capped near $2,500 unless momentum builds.

CoinPedia forecasts suggest that ETH could reach a new high of $5,925 in 2025, assuming favourable conditions.

Their predicted price range for 2025 lies between $2,917 and $5,925, with an average around $4,392.

By 2026, the upper range increases to $6,610, and by 2030, projections go as high as $15,575.

Across longer timeframes, the estimates show further growth.

For 2040, ETH could hit $123,678, and in 2050, a potential peak of $255,282 is suggested.

However, each yearly estimate also includes lower and mid-range possibilities, showing that investor caution remains.

Other firms have varied forecasts: Changelly expects $4,012.41 in 2025 and up to $24,196 in 2030; Coincodex sees a 2025 high of $6,540.51; and Binance projects a more conservative $3,499.54.

These predictions underscore how Ethereum’s value is tied to both its network upgrades and broader market adoption.

Its future trajectory will depend on continued technical innovation, staking incentives, and decentralised finance use cases.

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XRP ETF inflows could exceed $8.3 billion by 2026, says Standard Chartered

  • NAV benchmarks for BTC and ETH ETFs underpin the forecast.
  • SEC’s final deadline for XRP ETF approval is 12 October.
  • Polymarket data shows a 79% chance of approval by year-end.

Anticipation over an XRP exchange-traded fund (ETF) is building in the crypto sector as analysts weigh up potential inflows, market impacts, and regulatory dynamics.

While rumours and delays have shaped much of the recent conversation, data-driven forecasts from key institutions now offer a clearer picture.

Standard Chartered Bank projects that a US-listed XRP spot ETF could attract between $4.4 billion and $8.3 billion in inflows within its first year, based on net asset value benchmarks seen in existing Bitcoin and Ethereum ETFs.

This projection, while optimistic, comes with caution from others in the market.

Standard Chartered bases its projection on ETF benchmarks

Standard Chartered’s head of digital assets research, Geoff Kendrick, said NAV-to-market-cap ratios from already approved US spot ETFs were used to model potential XRP ETF inflows.

Bitcoin and Ethereum spot ETFs currently show NAVs of around 6% and 3% of their respective market caps.

Applying these ratios to XRP’s market capitalisation results in a $4.4 billion to $8.3 billion range.

Kendrick highlighted data from Bitwise ETPs in Europe, where XRP, Solana, and Litecoin trade alongside BTC and ETH.

He noted that altcoins account for a greater share of ETP NAV relative to their market caps, although this may reflect the lower number of products available for altcoins compared to Bitcoin and Ethereum.

XRP price forecast revised amid ETF optimism

Based on anticipated ETF inflows, Standard Chartered forecasts a significant XRP price increase.

The bank expects XRP to rise to $5.50 by the end of 2025 and reach $8.00 by 2026.

The target for 2029 is set at $12.25.

This forecast assumes XRP ETF approval and a general continuation of growth in digital asset investment vehicles.

For comparison, Kendrick noted that Bitcoin could reach $120,000 in Q2 2025, $200,000 by the end of the year, and $500,000 by 2028.

XRP is expected to keep pace, albeit with lower overall adoption and inflation differences.

XRP’s current inflation rate stands at 6%, compared to Bitcoin’s 0.8%.

Bitfinex analysts issue cautious counterpoint

Despite bullish projections, not all market observers are convinced that XRP ETFs would generate the same excitement as Bitcoin products.

Analysts from crypto exchange Bitfinex argue that investor interest may be spread thin across a growing list of altcoin ETFs.

As such, XRP might not see inflows comparable to Bitcoin, even if approved.

Their caution reflects broader concerns about ETF market saturation and regulatory clarity.

While Bitcoin enjoys legal clarity as a commodity, XRP has faced classification issues and legal disputes that may influence investor confidence.

Timeline for XRP ETF approval remains uncertain

Several financial firms, including Grayscale, WisdomTree, Bitwise, Canary, and 21Shares have filed for XRP ETFs with the Securities and Exchange Commission.

Bitwise’s application was officially acknowledged on 18 February, setting a maximum deadline of 240 days, or 12 October, for a final decision.

This mirrors the timeline applied to Bitcoin spot ETFs earlier in 2024.

However, other altcoin ETF applications such as those for Solana and Litecoin could impact when an XRP decision is made.

According to Kendrick, Litecoin may be prioritised given its similarity to Bitcoin and its historical treatment as a commodity.

Polymarket data shows that as of now, the probability of XRP ETF approval by 31 July is 39%, rising to 79% by the end of the year.

Analysts including Bloomberg’s Eric Balchunas suggest Litecoin could be the first among altcoins to secure approval, followed by HBAR and eventually XRP and Solana, which face unresolved security classification challenges.

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MOVE token plunges to all-time low after Coinbase delisting and market-making controversy

  • Coinbase has announced it will delist MOVE amid a $38M token dump controversy.
  • MOVE price has hit a record low, down 84% from the December 2024 peak.
  • Movevent Labs co-founder Rushi Manche has been suspended amid a governance and audit probe.

The MOVE token of the Ethereum-based Movement Network has tumbled to unprecedented depths following Coinbase’s announcement of its imminent delisting on May 15, 2025.

In the wake of allegations regarding a $38 million token dump and questionable market-making arrangements, the exchange has placed MOVE in limit-only mode before deciding it no longer met its listing criteria.

The market-making scandal

Coinbase’s decision to suspend all new trades came after internal documents revealed that Movement Labs had signed a market-making agreement granting undue influence to a third-party middleman.

The agreement, tying Web3Port and an obscure firm named Rentech, allegedly provided Rentech with the right to dump significant quantities of MOVE once the token’s fully diluted valuation hit $5 billion.

Shortly after MOVE made its exchange debut, Rentech executed a rapid sell-off that triggered a precipitous price collapse, eroding investor confidence within hours.

Movement Labs responded by establishing a $38 million reserve fund to repurchase the offloaded tokens, but critics have pointed out that no tangible buyback actions have materialised to date.

Binance further escalated the crisis by freezing funds linked to the same market maker, compounding concerns about the project’s governance and transparency.

Amid these developments, Movement Labs suspended co-founder Rushi Manche on May 2 while an independent review led by intelligence firm Groom Lake remains ongoing.

Manche has publicly distanced himself from the token dump, claiming bad actors manipulated agreements behind the scenes and rejecting any personal involvement in off-market sales.

Despite these assurances, the sudden leadership upheaval only deepened the aura of uncertainty surrounding MOVE’s strategic direction and governance reforms.

MOVE token hit hard

Following Coinbase’s May 1 limit-only notice and the formal delisting announcement, MOVE’s price plunged by over 20% to an all-time low near $0.18, before rebounding to $0.1985 at press time

Source: CoinMarketCap

The token is trading more than 86% below its December 2024 peak of $1.45, illustrating how project-specific turmoil can eclipse broader market rallies.

At press time, MOVE’s market capitalisation stood at approximately $496.27 million, with a staggering 398.04% spike in 24-hour trading volume and a volume-to-market-cap ratio exceeding 116.66%.

The token’s circulating supply of 2.5 billion MOVE and a total cap of 10 billion have drawn attention to potential sell-pressure vulnerabilities amid thin liquidity.

Technical indicators offer little respite, as both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) continue their descent without signalling any bullish divergence or imminent reversal.

In Elliott wave terms, MOVE appears to be in the extended fifth wave of its downward cycle, suggesting further downside could be reached if the 1.61 extension target of $0.136 is met.

Community sentiment has soured markedly, with Telegram discussions oscillating between relief at avoiding further losses and outright accusations of yet another crypto scam.

A Movement Network Foundation spokesman emphasised that the suspension was not permanent and that talks with Coinbase are ongoing, aiming to restore trading if standards are met.

However, the delay of the promised MoveDrop airdrop and the absence of a concrete timeline for the strategic reserve’s deployment have left many token holders sceptical.

With holders numbering roughly 33,850 and the fully diluted valuation still hovering near $1.98 billion, stakeholders face a steep uphill battle to regain trust.

As Movement Labs navigates governance audits, buyback pledges, and potential reinstatement on major exchanges, MOVE’s future hinges on transparent accountability and tangible remediation.

Only by addressing the structural flaws exposed by the market-making scandal and delivering on recovery commitments can Movement hope to salvage its token’s credibility and value.

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Japan’s Metaplanet issues $24.8 million in bonds to boost Bitcoin holdings past 5,000 BTC

  • The funds raised will be specifically allocated for further Bitcoin purchases.
  • The bonds were sold in full to EVO FUND.
  • The bonds offer investors the potential for early repayment if certain conditions are met.

Tokyo-based Metaplanet is taking steps to expand its cryptocurrency portfolio by issuing ¥3.6 billion (approximately $24.8 million) in bonds to fund the acquisition of more Bitcoin (BTC).

This move comes as the Japanese hotel firm’s Bitcoin holdings surpass the 5,000 BTC mark.

The bonds, which carry no interest, are set to be redeemed at their par value on October 31, 2025, or earlier, if the bondholder requests repayment.

The funds raised will be specifically allocated for further Bitcoin purchases, continuing the company’s earlier strategy to increase its digital asset investments.

The bonds were sold in full to EVO FUND, a move Metaplanet hopes will help support its growing Bitcoin strategy.

While the bonds carry no interest, they offer investors the potential for early repayment if certain conditions are met.

Specifically, Metaplanet plans to use capital raised through stock acquisition rights to redeem the bonds.

This means the company’s ability to repay the bonds hinges on the demand for its equity-linked instruments, highlighting a potential reliance on investor sentiment and market conditions.

Metaplanet’s recent bond issuance underscores the growing trend of companies integrating Bitcoin into their financial strategies.

With cryptocurrency markets gaining momentum, the company’s move aligns with the broader trend of corporate adoption of digital assets as a store of value.

As Metaplanet’s share price recently rose by 8.6%, investors are keeping a close eye on how the company’s Bitcoin purchases will impact its financial performance in the coming years.

In an era where digital currencies are becoming more mainstream, Metaplanet’s decision to use bonds for Bitcoin acquisition marks a noteworthy step toward integrating cryptocurrency into corporate balance sheets.

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