USDT/USD
USDTUSD----
After Aggressive Gold Buying, "Stablecoin Leader" Tether Suddenly Dismisses 2 Gold Traders, Only "Months After" Poaching Them from HSBC
Wallstreetcn·- Tether, a leading stablecoin issuer, has laid off senior metal traders Vincent Domien and Mathew O'Neill, who joined from HSBC amid a record year for gold purchases. - The layoffs come as Tether faces pressure from declining gold prices and ongoing market volatility, with gold experiencing its worst monthly performance since 2008 due to various economic factors. - This personnel change coincides with Tether's efforts to undergo a significant transformation, including its first comprehensive financial audit and a pause on raising up to $20 billion in external funding until the audit is completed.Proposed Bill May Limit Stablecoin Yields; Circle Skids Nearly 20% in Record Daily Drop
Wallstreetcn·- Circle's stock plummeted 19% following concerns over the "Clarity Act," which may restrict earnings on stablecoin balances. - This decline impacted Coinbase, which saw a 9% drop, as Circle's USDC provides significant user incentives through earnings similar to bank interest. - The bill's draft could prohibit stablecoin issuers from paying returns solely for asset holding, raising concerns in the crypto industry over competition with banks, while Tether faces scrutiny over its USDT reserves amidst calls for transparency.Investors find valuations too expensive! Tether's fundraising target cut from $20 billion to $5 billion, even the top stablecoin "backs down"?
Wallstreetcn·- Tether, the largest stablecoin issuer, has faced investor resistance regarding its $500 billion valuation target, leading to a potential fundraising reduction from $15-20 billion to at least $5 billion. - CEO Paolo Ardoino downplayed the original fundraising goal, framing it as a misunderstanding, while concerns over valuation and regulatory risks challenge investor confidence. - Tether's profitability has declined, and its reliance on cryptocurrency market conditions raises questions about its financial stability amid ongoing market fluctuations.Tether, the 'king of stablecoins,' earned $10 billion last year, a year-on-year decrease of 23%
Wallstreetcn·- Tether reported a significant profit decline in 2025, with earnings dropping to $10 billion from $13 billion the previous year. - The company's CEO noted that despite the profits falling, USDT's expansion stems from increased global demand for dollars outside traditional banking systems. - However, the lack of detailed disclosure regarding profit changes makes it difficult to assess the exact causes of the downturn, with cryptocurrency market declines potentially impacting Tether's returns.The true "big player" in gold: "stablecoin leader" Tether
Wallstreetcn·- Tether, a major stablecoin issuer, has emerged as a significant buyer of gold, holding 116 tons valued at approximately $14 billion, making it the largest non-central bank holder. - This surge in gold purchases has contributed to a 56% increase in gold prices in 2025, with Tether's demand tightening supply and influencing market sentiment. - However, the intertwining of cryptocurrency and traditional assets raises concerns about potential sell-off pressures on gold reserves if stablecoin demand reverses, prompting investors to reconsider the stability of gold as a safe haven.Profiting greatly from cryptocurrency trading, investment bank revenue exceeds $1 billion! The "Wall Street former employer" of the U.S. Secretary of Commerce achieves record performance, with his son serving as chairman
Wallstreetcn·- Cantor Fitzgerald, a private investment bank, is projected to achieve over $2.5 billion in revenue this year, largely due to its early investments in cryptocurrency. - The firm has raised over $40 billion for the crypto sector and aims to reach $50 billion by year-end, with significant contributions from its crypto business initiated in 2018. - Following the departure of Howard Lutnick to become U.S. Commerce Secretary, his sons have taken leadership roles, continuing to expand the company's influence in the cryptocurrency market while aiming for broader banking goals.