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Deloitte has completed the first attestation report for Tether's USAT stablecoin
USAT reserves totaled $17.6 million against $17.5 million in circulating supply as of Jan
31
USAT reserves consist of cash and U.S
Treasuries held domestically
This move aims to build trust for USAT within the U.S
Deep Dive
Anchorage Digital has engaged Deloitte to produce the first attestation report for its USAT stablecoin, a move that aligns with Tether's strategy to offer a regulated stablecoin in the U.S. The report confirmed that as of January 31, USAT's reserves, comprising cash and U.S. Treasuries held in U.S. financial institutions, exceeded its circulating supply, totaling $17.6 million against $17.5 million, respectively. This provided a cushion of approximately $100,000 shortly after the token's launch.
Tether USAT stated that its token merges Tether's global operational capabilities with Anchorage Digital's established track record under a U.S. federal framework. Anchorage Digital Bank, chartered in 2021, is recognized as the first federally chartered digital asset bank. Tether CEO Paolo Ardoino emphasized Anchorage Digital Bank's role in setting standards for accountability and financial strength, aiming to shape the future of digital dollars in the U.S. Tether USAT is led by CEO Bo Hines, a former executive director of the White House's digital assets working group.
The introduction of USAT follows the passage of the GENIUS Act, a stablecoin framework that mandates U.S. operating companies adhere to reserve requirements. This differs from Tether's main USDT stablecoin, valued at $183 billion, which is partially backed by Bitcoin and gold and has faced scrutiny for its role in facilitating criminal activity. Tether relocated its headquarters to El Salvador last year.
Deloitte's involvement with USAT's attestation report underscores Tether's dual approach: establishing federal compliance for its U.S. stablecoin to appeal to institutional investors while managing its broader international operations. Previously, Ardoino indicated that Big Four firms were hesitant to audit Tether's books due to potential reputational damage, though securing a full, independent audit remained a priority.
The attestation report prepared by Deloitte focused solely on verifying the existence of USAT's reserves at a specific point in time and did not assess Anchorage's day-to-day reserve management practices. Furthermore, Deloitte did not determine whether the stablecoin reserves complied with any federal, state, or local laws or regulations.
Circle, a primary competitor to Tether, also appointed Deloitte as its independent auditor starting in its 2022 fiscal year. Consequently, Deloitte has been producing attestation reports for USDC's reserves since January 2023.
Source, catalyst, and sector overlap from the latest feed.
US Senate advances housing bill including a provision to ban central bank digital currency (CBDC) issuance until end of 2030. White House formally backs the bill, indicating President Trump would sign it if it reaches his desk. The CBDC ban is embedded within a broader housing package, a strategic move by House conservatives. Federal Reserve has previously stated any US CBDC would require explicit congressional approval and remains exploratory.
New biodegradable packaging film developed from milk protein, starch, and volcanic clay. Material exhibits 1,000x reduction in water vapor permeability compared to similar biopolymer films. Film fully degrades in soil within approximately 13 weeks. Potential for low-tech scaling and application in developing countries.
US prosecutors seek forfeiture of $327,829 in USDT linked to a crypto romance scam. Victim was defrauded after being convinced to invest in a fake cryptocurrency opportunity. Funds were laundered through multiple wallets and converted to USDT. This action follows recent warnings from US prosecutors about crypto-related romance scams.
OpenAI secured a Pentagon deal for AI deployment in classified environments. Contract language allows "all lawful purposes," raising concerns about AI use in surveillance and weapons. Public backlash led to a surge in Anthropic's Claude app downloads, surpassing ChatGPT. A philosophical difference exists between OpenAI and Anthropic regarding contract safeguards versus technical and legal frameworks.
US Supreme Court declined to hear AI copyright case Human authorship rule for copyright protection remains intact AI-generated works continue to face legal limits on intellectual property claims
US Senate Banking Committee includes provision banning Fed CBDC issuance until 2031. Bipartisan "21st Century ROAD to Housing Act" aims to boost housing supply. White House supports the bill and explicitly backs the CBDC provision. Ban includes exceptions for private dollar-denominated currencies preserving privacy.
PayPay, holding a 40% stake in Binance Japan, is pursuing a Nasdaq IPO aiming to raise up to $1.1 billion. The IPO targets a valuation exceeding $10 billion for the Japanese payments firm. PayPay's partnership with Binance Japan aims to integrate crypto with its cashless payment services. The IPO listing was postponed due to global market volatility following geopolitical events.
US authorities are seeking to recover $327,829 in USDt linked to a romance scam. The funds were traced to cryptocurrency wallets seized by the Justice Department. Tether has frozen approximately $4.2 billion in USDt connected to illicit activities since 2023.
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Fundstrat's Tom Lee predicts a market-wide revival in March. Lee reiterates a $200,000-$250,000 target for Bitcoin in 2026. Ethereum is projected to reach $7,000-$9,000 by early 2026. AI-driven productivity, strong corporate earnings, and government support are cited as key drivers.

Iranian crypto outflows surged over 700% to over $500,000 within minutes of US-Israeli airstrikes. Outflows reached nearly $3 million in one hour on Nobitex, Iran's largest crypto exchange. Internet blackouts enforced by the Iranian regime significantly curbed further outflows. TRM Labs disputes capital flight conclusion, citing a downturn in transactions and volume due to internet restrictions.

Bitcoin has fallen below significant moving averages, indicating potential for increased downside pressure. Shiba Inu shows a hidden bullish divergence on momentum indicators despite a bearish price trend. XRP's rising trendline support around $1.30 has been invalidated, leaving it in a vulnerable phase. The market is experiencing weak demand and uncertainty, with short-term bounces risking further selling opportunities.

Crypto markets declined as geopolitical tensions escalated following reports of a US-Israel strike on Iran. Bitcoin dropped to around $66,127 from a brief high of $68,000. Ethereum fell to near $1,947, down approximately 2.46% in 24 hours. Investors moved towards traditional safe-haven assets like oil, gold, and silver, indicating reduced risk appetite for crypto.

Ripple unlocked 1 billion XRP from escrow, valued at approximately $1.377 billion. XRP price saw minimal reaction, rising 0.9% post-unlock, despite a 16.45% drop in February. Solana led market rebound with an 11% price surge to $88.89 following a $500M liquidation event. Elon Musk drew parallels between AI firm Anthropic and the collapsed FTX exchange.

Ethereum to implement Proposer-Builder Separation (ePBS) and Fork-Choice-Enforced Inclusion Lists (FOCIL) via Glamsterdam and Hegota upgrades this year. ePBS aims to decentralize block building and mitigate MEV, while FOCIL will prevent transaction censorship. Cardano's upcoming Midnight sidechain will offer similar privacy and transaction separation benefits. ETH and ADA prices are showing positive movement, influenced by broader market rallies and Bitcoin's performance.
Solana price is consolidating within a three-week triangle pattern. A break above $88.60 resistance is eyed as a key signal for potential upside. Solana has reclaimed the Ichimoku cloud on the four-hour chart for the first time since January. Moving averages (50 MA crossing 100 MA) also indicate a short-term momentum shift.
Bitcoin mixers enhance privacy by obscuring transaction origins through pooling and redistribution. Mixero.io offers CoinJoin with an optional Monero bridge, starting at 0.7% fees. Tornado Cash, a decentralized Ethereum mixer, has over $1 billion TVL. Wasabi Wallet integrates CoinJoin with a 0.3% coordinator fee, waived for small transactions.

Bitcoin futures open interest declined to $32 billion, lowest since August 2024 in BTC terms. Annualized premium on Bitcoin monthly futures dropped to 2%, indicating reduced demand for leveraged positions. Despite futures demand drop, CME Bitcoin futures open interest remains at $7.5 billion, suggesting institutional presence. Bitcoin options market shows balanced demand with put-to-call premiums near 0.7, indicating no major stress.

Core Scientific reported Q4 revenue of $79.8 million, missing estimates of $122.08 million. The company posted a Q4 loss of $0.42 per share, wider than the expected $0.08 loss. Core Scientific is expanding its colocation platform and AI-focused infrastructure services. Riot Platforms reported Q4 revenue of $647.4 million, significantly exceeding estimates.

TD Securities views NYSE's tokenized equities plan as a market structure turning point for institutional adoption. The NYSE platform aims for 24-hour trading and near-instant settlement of tokenized stocks and ETFs. This development integrates blockchain settlement within existing US market rules and NBBO requirements. Tokenized assets, particularly RWAs, have seen continued capital inflows despite broader market volatility.

ETH has experienced six consecutive monthly price declines, a streak not seen since the 2018 crypto winter. Despite record network usage, ETH's price has fallen approximately 60% from its all-time high. Derivatives data shows a significant drop in ETH futures open interest and a premium on downside protection in options markets. US-listed Ethereum ETFs have seen $2.6 billion in outflows over the past four months, and major stablecoin market caps have slowed.

Bitfinex Securities is resuming USDt-denominated bond issuances on Bitcoin's Liquid Network. Previous issuances totaled $6.2 million, with four offerings and over $1.1 million in coupon payments made. The bonds offer crypto-native investors yield on USDt holdings, targeting emerging market private credit. This occurs amidst ongoing regulatory debate in the US regarding stablecoin yield products.
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