Tether has moved closer to a full financial review of USDT as it prepares for wider regulatory scrutiny in the United States. 

The step follows a report that the company hired KPMG for its first full audit and brought in PwC to help organize its internal systems ahead of that process.

The Financial Times reported on Friday that Tether hired KPMG to conduct its first full audit of USDT’s financial statements. The report also said Tether brought in PwC to help prepare its internal controls and reporting systems before the audit begins.

The reported move came days after Tether said it had engaged a Big Four accounting firm for its first full financial statement audit, though it did not name the firm. Until now, Tether has relied on periodic reserve attestations from BDO Italia instead of a full audit.

A full audit would go further than reserve attestations. It would review Tether’s assets, liabilities, and internal controls across the company’s balance sheet rather than only checking reserve positions at specific points in time.

Tether has described the planned review as “the biggest ever inaugural audit in the history of financial markets.” The company said it selected the Big Four firm through a competitive process and added that it already operates at Big Four “audit standards.” However, it has not given a public deadline for the audit’s completion.

Moreover, the audit effort comes as Tether looks at expansion in the United States under the federal stablecoin framework created by the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS, Act. A full audit could help the company support its position as it enters a stricter regulatory environment.

USDT remains the largest stablecoin by market value. CoinGecko data places about $185 billion of USDT in circulation. Tether said in January that it held more than $122 billion in direct US Treasury securities and about $141 billion in total Treasury exposure, including overnight reverse repurchase agreements and similar instruments.

Funding plans and past legal cases remain in focus

Tether’s audit plans also come as the company weighs a possible equity raise. Bloomberg reported in September 2025 that Tether had explored raising up to $20 billion at a $500 billion valuation. Chief executive Paolo Ardoino later disputed that such a figure had been agreed, though he kept the company’s $500 billion valuation target tied to its profits.

The company also continues to face attention over past claims about reserves. The Commodity Futures Trading Commission fined Tether $41 million over what the regulator described as “untrue or misleading statements” about reserve backing. 

In a separate matter, Tether agreed to an $18.5 million settlement with the New York Attorney General over claims that it hid losses and misled investors about USDT’s backing.

Bitcoin fell another 2% in 24 hours, dropping below $68,000 for the first time in four days. The decline sparked more than $50 million in long liquidations in the past hour, according to Coinglass, of which roughly 70% came from bitcoin positions alone.

The decline sent shares of crypto-related companies such as Circle Internet (CRCL), Coinbase (COIN), and Strategy (MSTR), the largest public holder of Bitcoin, lower in pre-market activity.

Traders with long positions are betting prices will rise. Liquidations occur when an exchange forcibly closes a leveraged trade because the trader no longer has enough collateral, known as margin, to support the position.

A look at the 48-hour liquidation heatmap, a tool that highlights price levels where large clusters of forced liquidations may occur, shows significant liquidity below $66,000, which signals further downside for bitcoin is possible in the short term.

In another sign of bearish sentiment, funding rates are also negative. Funding rates are periodic payments between traders in perpetual futures contracts, which are derivatives that track an asset’s price without expiry. When negative, short traders, those betting on price declines, pay long traders.

Macro conditions are deteriorating further as the Middle East conflict progresses. The 10-year U.S. Treasury yield, a benchmark interest rate for government debt, is nearing 4.5%, its highest since July, making risk assets like crypto less attractive.

The MOVE index, which measures U.S. bond market volatility, has risen 18% over the past 24 hours, indicating increased uncertainty.

Meanwhile, oil prices, including Brent and WTI crude, are up 3% as Ukraine’s disruption of Russian oil flows disrupts President Donald Trump’s plans to ease supplies.

The DXY index, which tracks the strength of the dollar against a basket of major trading partners, is rising toward 100, creating further headwinds for risk assets.

Key Highlights

• DOGE price declined more than 5% over 24 hours, currently trading near $0.091
• Eight consecutive days of zero net flows recorded across Dogecoin ETF products
• Retail traders acquired approximately 4.5 million DOGE tokens on Kraken during recent pullback
• Technical analysis reveals death cross formation, typically interpreted as bearish momentum
• Dogecoin mining integration with Qubic platform confirmed for April 1, 2026 launch

Dogecoin has experienced a significant pullback exceeding 5% over the last day, with the meme coin currently changing hands around the $0.091 mark. This downturn mirrors broader cryptocurrency market weakness, as overall digital asset market valuation decreased 1.18% to settle at $2.4 trillion.

The cryptocurrency continues holding above the critical $0.092 support threshold, though mounting downward pressure threatens this level. Technical indicators paint a concerning picture—the Relative Strength Index currently registers around 41, while the MACD demonstrates early signs of bearish divergence. Market observers suggest bulls must push DOGE back above $0.095 to shift momentum.

Charts also display a death cross pattern, occurring when shorter-term moving averages dip beneath longer-term counterparts. Technical traders typically interpret this formation as indicating potential downside ahead.

Institutional Money Remains Sidelined

According to tracking data from SoSoValue, Dogecoin exchange-traded fund products have registered absolutely no net capital movement for eight straight trading days. Neither inflows nor outflows have been recorded during this period.

This stagnation suggests institutional participants remain uncommitted despite recent volatility. Market commentators interpret this freeze differently—some view the standstill as hesitation, while others consider the absence of withdrawals as evidence that current holders anticipate price appreciation.

The contrast between institutional and retail market behavior is striking. While ETF channels showed zero activity, individual traders on Kraken purchased nearly 4.5 million DOGE tokens within a 12-hour period as prices retreated.

Large Holders Accumulating on Weakness

Blockchain analytics from CryptoQuant reveal taker buy dominance persisting across leading trading platforms throughout the previous 90-day period. This metric indicates aggressive purchase orders have consistently exceeded selling pressure in spot trading venues.

This accumulation behavior has emerged repeatedly during recent downward moves. Market participants seem to view price weakness as strategic entry points rather than signals to exit positions. Technical strategists note that such sustained accumulation frequently precedes significant upward price movements, although no breakout has developed thus far.

Large wallet activity suggests anticipation of movement beyond the $0.10 threshold. DOGE faced resistance at this psychological level in recent trading sessions and has failed to reclaim it since.

The Qubic platform has officially announced its April 1 launch date for the Dogecoin mining initiative. According to company statements, every share generated through mining will undergo verification through Oracle Machines, which became operational on mainnet February 11. The Dogecoin mining feature represents the inaugural external proof-of-work application developed on this infrastructure.

Key Takeaways

• SOL faced rejection at the $93 level, declining 5.7% over 24 hours to approximately $87
• The token trades beneath its 20-, 50-, 100-, and 200-day moving averages
• Technical indicators including RSI and MACD reflect diminishing price momentum
• A developing bearish flag formation on the daily timeframe suggests potential downside to the $40–$45 zone
• Despite price weakness, Solana handled 44% of worldwide cryptocurrency transactions

Solana (SOL) faces mounting pressure following an unsuccessful attempt to breach the $93 resistance threshold. The digital asset has retreated and now hovers around a critical support area that market participants are monitoring intently.

Currently, SOL changes hands at $87.45. The cryptocurrency recorded $5.62 billion in trading volume during the previous 24-hour period, while maintaining a market capitalization of $50.21 billion. The asset experienced a 5.70% decline within the last day.

Cryptocurrency analyst BitGuru highlighted the $93 rejection in an X platform post dated March 26, 2026. The analyst emphasized that SOL has retreated to a significant historical support area following the failed breakout attempt. The price action at this juncture may determine the token’s trajectory in the coming sessions.

Should demand materialize at current levels, SOL might stage a recovery toward upper resistance thresholds. Conversely, a breach of this support zone could trigger additional losses.

Technical Indicators Point to Weakening Momentum

Solana currently trades beneath all primary moving average benchmarks. The 20-day moving average registers at $88.63, while the 50-day stands at $86.09. The 100-day moving average is positioned at $106.54, and the 200-day rests at $143.24.

Trading below both the 100-day and 200-day moving averages indicates the cryptocurrency remains distant from establishing consistent upward momentum.

The Relative Strength Index reads 47.66, positioned below its signal line of 52.54. Meanwhile, the MACD line registers 0.127, trailing its signal line of 0.232. The relatively neutral MACD histogram suggests minimal directional strength in either direction.

Bearish Flag Formation Suggests Downside Potential

Chart analysis reveals a bearish flag pattern developing on the daily timeframe—a technical setup resembling a formation observed earlier this year. During that previous occurrence, Solana experienced a substantial breakdown following the pattern’s completion.

The present formation displays price consolidation within an ascending channel following a significant decline. Should a breakdown materialize from these levels, technical projections point toward the $40 to $45 price range within approximately one to two weeks.

Notwithstanding the price challenges, Solana’s blockchain activity demonstrates remarkable strength. The network handled 825,729,338 transactions from a total of 1,867,616,231 blockchain transactions recorded during the assessment period—representing 44% of global cryptocurrency transaction volume.

Analyst Ali Charts observed via X that more than 100 million SOL tokens changed hands between $91.45 and $82.60, identifying this range as the most critical demand area. Should this zone fail, subsequent support levels worth monitoring include $53.10, $35.40, and $23.60.

Quick Summary

• President Trump announced a 10-day extension for the pause on strikes targeting Iran’s energy facilities, setting an April 6 deadline for Iranian compliance.
• Bitcoin declined more than 3% during Thursday’s session before stabilizing above the $69,000 mark.
• The Nasdaq Composite experienced a 2.4% decline Thursday, marking approximately a 10% retreat from its peak recorded in January.
• The yield on 10-year U.S. Treasury notes surged to 4.43%, with market participants increasingly pricing in potential Federal Reserve rate increases instead of cuts.
• Brent crude oil prices exceeded $103 per barrel amid heightened anxieties over potential Strait of Hormuz disruptions.

Digital assets experienced a partial recovery Thursday following President Trump’s announcement that he would postpone military action against Iranian energy facilities. The declaration provided temporary respite to financial markets that had suffered significant declines earlier in the trading session.

Via his Truth Social platform, Trump stated: “As per Iranian Government request… I am pausing the period of Energy Plant destruction by 10 Days.” He further indicated that diplomatic negotiations are “ongoing” and “going very well.”

The Islamic Republic now faces an April 6 deadline to meet American requirements before potential strikes on its electrical infrastructure would recommence.

The leading cryptocurrency had plummeted over 3% earlier during Thursday’s trading. Following the president’s social media announcement, it rallied approximately 1% from session lows and stabilized just north of $69,000.

Alternative digital currencies similarly rebounded from their intraday troughs. Ethereum, XRP, Solana, and Cardano all posted modest gains from their lows but continued trading 3% to 5% below levels from 24 hours prior.

Equity Markets Face Continued Volatility

The technology-heavy Nasdaq index tumbled 2.4% during Thursday’s session. The benchmark has now retreated roughly 10% from its late January high.

Futures contracts for U.S. equities posted modest advances Friday morning. Nasdaq 100 and S&P 500 futures each appreciated approximately 0.2%, while Dow Jones Industrial Average futures inched up 0.1%.

Neverthstanding these gains, upward momentum remained constrained. Market participants maintained a defensive posture as skepticism surrounding any permanent diplomatic resolution sustained elevated uncertainty levels.

Fixed Income Yields and Crude Oil Advance

The benchmark 10-year U.S. Treasury note yield climbed as high as 4.43% Thursday, advancing from levels below 4% registered just weeks ago. It moderated slightly to 4.41% by the session’s conclusion.

This pronounced increase has virtually eliminated market expectations for Federal Reserve interest rate reductions. Certain traders are now positioning for potential rate hikes instead. Comparable dynamics are unfolding across Western European sovereign debt markets.

Energy commodity prices also escalated. Brent crude futures traded above the $103 per barrel threshold. West Texas Intermediate approached $96. Both advances occurred as hostilities persisted throughout the Middle East region and apprehension intensified regarding potential interruptions to maritime traffic through the Strait of Hormuz.

Market observers are monitoring whether the geopolitical confrontation could persist deep into April.

Emerging reports indicate Iranian leadership remains hesitant to engage in direct negotiations with Washington, despite reviewing an American diplomatic proposal. This prevailing uncertainty continues exerting pressure on financial markets entering the weekend.

US Representative Maxine Waters has asked the Federal Reserve Bank of Kansas City to explain its decision to approve Kraken Financial’s limited-purpose master account. 

Her request puts fresh attention on how crypto-linked firms may gain access to the US payment system and what safeguards apply when the Federal Reserve reviews those applications.

Waters, the top Democrat on the House Financial Services Committee, sent a letter to Kansas City Fed President Jeff Schmid on Thursday. She asked him to respond by April 10 with details on what Kraken’s approval allows in practice and which Federal Reserve services the company can use.

She also asked what conditions or limits apply to the account. Her letter requested information on anti-money laundering checks, consumer protection reviews, and the legal basis behind the approval process.

Kraken Financial received a limited-purpose master account from the Federal Reserve Bank of Kansas City earlier this month. The move drew attention because crypto-linked firms have sought direct Federal Reserve access for years.

The account could give Kraken access to Fedwire, the Federal Reserve’s main payment network. That system allows institutions to move funds on the same core rails used by banks and credit unions across the United States.

Waters said the public notice left important questions unanswered. In her letter, she wrote that the Kansas City Fed’s announcement “does not disclose specific information” about Kraken’s access to Federal Reserve financial services because of “the confidentiality of business information provided by applicants.”

Waters said direct access to the Federal Reserve’s payment system raises policy, regulatory, and consumer protection questions. She argued that the Federal Reserve must show that any approval follows the law and applies the same standards to all applicants.

She wrote that “answers to these questions are critical” to ensure the approval process works “with impartiality” and supports “a safe and efficient payment system.” Waters also said new activity in digital assets, tokenization, payments, and artificial intelligence is moving faster than many existing laws.

Crypto firms continue push for master accounts

Kraken is not the only crypto-linked company seeking this type of access. Custodia Bank, Anchorage Digital Bank, and Ripple’s Standard Custody & Trust Company have also pursued Federal Reserve master accounts.

Waters has often taken a cautious position on crypto policy. Advocacy group Stand With Crypto lists her as “strongly against crypto,” citing past statements and votes against crypto legislation. Her latest letter now places the focus on transparency in how the Federal Reserve handles crypto-related account approvals.

U.S. spot Ethereum exchange-traded funds recorded seven straight days of outflows with over $390 million leaving the funds. 

According to data from SoSoValue, the 10 spot ETH ETFs saw $92.54 million in net outflows on Thursday, March 26, primarily led by BlackRock’s ETHA with $140.24 million in outflows. The investment manager’s staked Ethereum ETF (ETHB) managed to offset a large portion of the outflows as it drew in $96.81 million on the day.

Following the outflows yesterday, these investment products have now seen redemptions for the seventh consecutive day, with a combined $391.65 million flowing out.

Before this streak, the ETFs recorded a six-day inflow run in which they drew in over $386 million. This suggests that institutional traders could be withdrawing from the market amid expectations of a prolonged conflict between the U.S. and Iran, destabilizing risk assets.

A part of this activity may also come from capital rotation into BlackRock’s ETHB, which offers investors native staking yields unlike the standard spot ETFs that simply track the price of the underlying asset. The firm previously noted that it would waive a portion of sponsor fees to remain competitive for the initial $2.5 billion in assets. 

Besides this, investors have also been rotating capital from these ETFs towards traditional safe-haven assets such as gold and other precious metals as oil prices continue to retain upward pressure, sparking fears of global inflation and a hawkish Federal Reserve.

On the monthly scale, the ETH ETFs are close to completing their 5th straight month of net outflows that began in November last year, with nearly $2.85 billion in total exits.

Ethereum price has fallen over 45% from its year-to-date high to $1,815 in late February amidst the persistent ETF outflows and broader market downturn triggered by the U.S.-Iran war, rising energy costs, and diminished expectations of Federal Reserve interest rate cuts this year. At press time, Ethereum price was trading at $2,065, down 2.7% over the past 24 hours.

Market analysts, such as Tom Lee, Head of Research at Fundstrat and Chairman of Ethereum treasury company Bitmine, have called a market bottom for Ethereum, aligning with the firm’s aggressive accumulation of Ether as it advances towards its 5% target of the total circulating supply. 

This comes as Ethereum balances on exchanges have fallen to an all-time low, a sign of accumulation, whether by retail investors or institutional giants such as Bitmine, likely positioning for much higher prices.