Tether unveiled a new stablecoin which is pegged to U.S. Dollar. But has a peculiar difference from the existing - and extremely popular - USDT. The new token is called Alloy (aUSDT) and it is backed by overcollateralized gold reserves rather than government debt. Tether released a very pompous statement on the subject. “aUSDT unifies the most popular currency in the world with the store of value used by humanity for the last 5,000 years,” the company wrote on X. Tether claims that gold-backed currencies were "historically strong". They always helped to reduce inflation and sustain steady economic growth. As for Alloy (aUSDT), Tether claims it is going to be a super reliable token. Firstly, because it is overcollateralized, which means it is backed by value that exceeds the number of tokens in circulation. it creates a kind of a buffer zone for price bumps. For instance, if gold suddenly starts falling down in price, the stablecoin might lose its dollar peg. But, hopefully, that is not possible if all the investors know that aUSDT is overcollateralized, and Tether always has enough resources to back it. What's more interesting, aUSDT is not backed by gold. Tether decided to use another of its assets, Tether Gold (XAUT), as a backup. XAUT is a popular token pegged to and backed by one troy ounce of gold. So it's the excessive holdings of XAUT that are backing aUSDT, not real gold. XAUT has a good standing on the market. Its market cap is over $574 million now, which makes it the largest gold-pegged stablecoin at the moment. Paxos's PAXG is following closely with $428 million.

Tether Co-Founder predicts next ETFs after Bitcoin and Ethereum. He claims that Wall Street is too greedy to stop. And that is not so good for crypto. William Quigley told Decrypt this week that he doesn't expect crypto ETF momentum to slow after the approvals of spot Bitcoin and Ethereum funds. According to Quigley, Wall Street's “greed” will bring more and more such products. He named Solana and Cardano as possible next ETFs installations. They will be driven by Wall Street's relentless pursuit of profit. “Every time Wall Street packages a new product to sell to consumers, if that product is successful, you can guarantee there will be copycats. There would be no ETFs if the Bitcoin ETF had failed,” Quigley said. His comments were overall less than flattering for Wall Street guys. They just love 'the next hot thing' because it is easy to sell it to consumers. Once there is a big pullback the trend will lose momentum, Quigley thinks. ETFs are considered to be a true milestone in the history of crypto. Basically, they allow investors to gain profits from Bitcoin without actually holding any crypto. That is as safe and convenient as buying shares of NYSE companies. With recent SEC statements, their is very little doubt that Ethereum ETFs will be approved this summer. Now rumours spread that Solana ETFs are on horizons. So Quigley might be right about the overall trend. Why is Quigley so angry with ETFs? Well, obviously Tether co-founder isn't excited with crypto mainstream adoption because of the increasing involvement of traditional finance in the decentralized space. One of the questions he asks is what is actually going to happen when in time of downturn - and those are inevitable on the crypto market - Wall Street investors will simply pull out. That would be a risk factor that is new for crypto world, and absolutely unpredictable. "I was happy with crypto without Wall Street,” Quigley summarized.

Bitcoin is the only decentralized currency, Tether CEO Paolo Ardoino says in a startling revelation. According to the man, who is in charge of the most influential stablecoin, Bitcoin is unique among the more than 14,000 various cryptocurrencies because it is the only one that is not centralized. An unexpected - if not to say sensational - statement was made by Ardoino during his interview with Cointelegraph. “Bitcoin is the only example of a currency that is only ruled by math that basically cannot be changed,” Ardoino stated. He added that some some cryptocurrencies are a bit more centralized or others are a bit less centralized, yet Bitcoin is the one that is not contolled by anyone in particular. “With the other currencies, you see that there is a group of developers that come every month. They are coming out with a new software release, they change the monetary policy, inflationary, deflationary, and they keep changing things,” Ardoin explained. But no substantial changes can be made to Bitcoin blockchain. There will always be no more than 21 million Bitcoin. And there will be a halving, which affects mining profits once every four years, until all 21 million bitcoins are mined, Ardoino stated. “Bitcoin is about certainty. It’s like a clock keeps ticking keeps ticking forever [...] When it comes to the concept of unstoppable products, or decentralized — because everyone uses the term ‘decentralized’ — there is only Bitcoin,” Tether CEO concluded. To Ardoino's credit, he openly admitted that Tether is centralized, unlike Bitcoin. He also stated that his opinion on Bitcoin's exclusive level of decentralization “might be controversial.” It's not often that we get to see such examples of candour from executive managers in the cryptocurrency market.

This week, Tether co-founder Brock Pierce mentioned that China will inevitably open up again to cryptocurrencies, standing on the cusp of a crypto revolution. In an interview, he emphasized that economic factors and growing interest among Chinese citizens and businesses will drive this change. Pierce stated, "Is China going to open up? ... I'd say it's inevitable. It's a question of when." Pierce underscored that this shift is not merely speculative, pointing to the increased adoption of blockchain technology and digital payments in China, which sets the stage for broader cryptocurrency acceptance. China's government has already made significant strides with its Digital Yuan initiative. Despite current strict regulations, Pierce is optimistic that China's technological advancements will lead to a more open stance on crypto. He highlighted that China's blockchain initiatives are among the most advanced globally, which would facilitate the transition to accepting cryptocurrencies. Pierce also noted the strategic advantages of China adopting crypto, suggesting it would enhance China's position in the global financial system. As major economies integrate digital currencies, China wouldn't want to be left behind, a crucial factor driving eventual policy shifts. However, Pierce did not mention China's ongoing efforts to implement the Digital Yuan (CBDC), a stablecoin that could significantly alter the crypto landscape in China if successful. In September 2021, China implemented a comprehensive ban on cryptocurrency activities, including trading, mining, and ICOs. The People's Bank of China declared all cryptocurrency-related transactions illegal, marking the culmination of years of increasing regulatory pressure on the crypto industry.

Kraken, one of the world’s leading cryptocurrency exchanges, has no plans to delist Tether’s USDT. Despite whispers of an impending EU ban on stablecoins, Kraken remains unflinching. This decision could be seen as a bold move. Or simply pragmatic. Concerns over stablecoin regulation have been swirling in Europe. The EU’s looming regulatory framework has cast a shadow over digital assets. But Kraken seems to thrive in the eye of the storm. For the time being, USDT remains securely moored. In a recent statement, Kraken executives confirmed their commitment to maintaining USDT trading pairs. "We have no plans to delist USDT," a Kraken spokesperson asserted. This stance, they say, aligns with their mission to provide a broad range of trading options. Investors can breathe—at least for now. The regulatory winds in Europe are indeed shifting. Stablecoins like USDT face scrutiny, with potential bans being whispered about in regulatory circles. Yet, Kraken’s decision underscores a calculated bet on stability. Or perhaps it’s just a refusal to bow to speculative fears. For Wall Street, this move by Kraken signals resilience. It also reflects a broader industry sentiment that innovation shouldn't be stifled by regulatory uncertainties. Kraken’s commitment to USDT might be seen as a dare. Or maybe it’s just business as usual. It remains to be seen how the EU will navigate its regulatory course. Will they steer towards stringent measures? Or will they chart a more balanced path? Either way, Kraken’s stance on USDT is clear—and it’s not changing course anytime soon. Investors watching this space should note Kraken’s bold approach. It’s a reminder that in the ever-evolving crypto landscape, steadiness can sometimes be the most daring strategy of all.