💰- Tether owns 7.7 tons of gold ?! - 29/04/2025
But also : Mastercard integrates stablecoins into its network, Strategy buys $1.4 billion worth of BTC, and Nike sued for carpet pulling after RTFKT closure
Hello 👋
Welcome to your daily two-minute briefing on the latest developments in the Web3 space.
🔥 TODAY'S HOT NEWS
Tether strengthens its physical gold reserves
Tether has announced that it holds 7.7 tons of physical gold, valued at nearly $770 million, to back its XAUT gold-backed stablecoin. This quarterly report confirms that each XAUT in circulation is equivalent to one troy ounce stored in Switzerland, ensuring full coverage of the tokens issued.
Over the past year, XAUT's market capitalization has risen sharply, driven by macroeconomic instability and rising global geopolitical tensions. The company emphasizes that its gold is physically held, unlike the "paper" approaches favored by some competitors.
Tether is benefiting from the global momentum of gold accumulation: central banks, particularly in the BRICS bloc, have purchased more than 1,000 tons in 2024 in an effort to diversify away from the dollar. The issuer's strategy is to position XAUT as a solid store of value in the face of economic uncertainty.
The announcement also confirms Tether's foothold in El Salvador, a country that has become central to its regulatory strategy. This first report on gold reserves complies with local standards and marks a new step in the integration of products backed by physical assets.
In a context of declining confidence in fiat currencies, Tether intends to capitalize on the growing demand for stable and transparent alternatives. Physical gold thus becomes an important diversification lever for the historic stablecoin issuer.
💎 MARKETCAP
🟠 BITCOIN : 94 500 $ 📉
🔵 ETHER : 1 800 $ 📉
🟢 FEAR & GREED : 53 📉
Mastercard integrates stablecoins into its network
Mastercard has announced the integration of stablecoins into its global payment network in partnership with OKX, Nuvei and Circle. Consumers will be able to spend stablecoins at more than 150 million merchants.
Strategy buys $1.4 billion worth of BTC
Strategy has purchased an additional 15,355 BTC for $1.42 billion, bringing its total holdings to 553,555 BTC. Funded by share sales, this move is part of its ambitious plan to raise $42 billion to buy more BTC.
Nike sued for rug pull after RTFKT closure
Nike is accused of orchestrating a rug pull with RTFKT NFTs. A lawsuit is seeking $5 million for promoting NFTs as unregistered securities.
Coinbase launches institutional fund outside the US
Coinbase is launching the Coinbase Bitcoin Yield Fund, offering returns in BTC to institutional investors outside the US. The fund, based on a conservative arbitrage strategy, aims for a net annual return of 4-8%, paid in BTC.
🐸 MEME OF THE DAY
Ledger Live will enable users to generate returns on stablecoins
Ledger will allow its users to generate returns on stablecoins directly on Ledger Live, in partnership with Kiln. Rates will range from 5% to 9.9%, via protocols such as Aave, Compound and Morpho.
The company behind STEPN launches GMT Pay
The company behind the STEPN app is partnering with MasterCard to launch ‘GMT Pay,’ allowing users to spend their GMT and GGT tokens anywhere in the world. A virtual card can be added to Apple Pay or Google Pay.
Bitcoin will reach $120,000 in Q2 2025 according to Standard Chartered
Standard Chartered predicts Bitcoin will reach $120,000 in Q2 2025, supported by whale accumulation and the withdrawal of US assets. The bank maintains its target of $200,000 by the end of 2025, seeing BTC as a better hedge than gold.
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Emma and Ben
