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Tether taps Deloitte for first USAT reserve report

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Tether invests in LayerZero Labs as it doubles down on cross-chain tech, agentic finance

Leading stablecoin issuer Tether has secured a sign-off from Deloitte for the first reserve report tied to its new U.S.-regulated stablecoin, after years struggling in its relationships with major accounting firms.

Deloitte reviewed a report prepared by Anchorage Digital Bank, which issued the company’s new USAT token. In a letter released Monday, the accounting firm said Anchorage reported $17.6 million in reserve assets backing 17.5 million USAT tokens in circulation. The token’s market cap has, since the report, risen to nearly $20 million as its growth accelerates.

The total market capitalization of the stablecoin sector has, in fact, been growing rapidly. It’s now past $315 billion, according to CoinMarketCap data, with Tether’s USDT making up $183 billion of that. Circle’s USDC comes in second place, at $76 billion.

The new USAT token follows the passage of the Genius Act last summer. The law limits the types of assets that can back stablecoins and requires larger issuers to move under federal oversight. USAT is structured to comply with those rules.

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Third-party attestations such as this differ from full audits, however. They offer a snapshot of reserves at a specific point in time rather than a deep review of company finances.

Tether has been leveraging the revenue it generates from the assets backing its stablecoins to invest in a plethora of industries. These include a majority stake in Latin American agricultural firm Adecoagro (AGRO), a privacy-focused health app, a stake in video-sharing platform Rumble (RUM). More recently, it invested $200 million in digital marketplace Whop.

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Arthur Hayes Says Bitcoin Price at $750,000 by 2027 Because Of Money Printing

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💸

Arthur Hayes is not backing down on his Bitcoin price predictions.

The BitMEX co-founder is sticking to his bold call: $250,000 Bitcoin in 2026, then $750,000 in 2027. In his view, this cycle is not about charts. It is about liquidity.

Hayes argues the Trump administration will eventually flood the system with money to stabilize growth and keep voters calm. That wave of liquidity, he says, is rocket fuel for hard assets like Bitcoin.

While retail panics through corrections, Hayes is betting on fiscal dominance. His thesis is simple. Governments spend. Currencies weaken. Scarce assets go vertical.

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Key Takeaways:
  • Arthur Hayes projects $250,000 BTC in 2026 and $750,000 in 2027.
  • The forecast relies on the Liquidity Cycle driven by U.S. fiscal spending.
  • Institutional flows remain strong with $458.2M entering ETFs Monday.

Arthur Hayes: Why Trump’s Money Printing Could Send Bitcoin Price to $750,000

Governments facing voter pressure will spend aggressively, even if inflation lingers. More spending means more debt. More debt eventually means more money creation. And that is bullish for scarce assets.

Hayes is framing this around one thing: liquidity.

He also ties it to geopolitics. A prolonged U.S.-Iran conflict, in his view, gives the Federal Reserve cover to ease policy again. History shows that during major wars, liquidity tends to expand, not contract. If conflict is financed through debt, the system absorbs it through monetary expansion.

At around $65,000 today, a move to $250,000 by 2026 would mean nearly a 4x return. The 2027 forecast of $500,000 to $750,000 is where the thesis goes exponential. That implies double-digit multiples from current levels.

Is This the Setup for Bitcoin Supercycle Run?

Institutional flows are not matching retail panic.

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U.S. spot Bitcoin ETFs just pulled in $458.2 million in one session, with BlackRock’s IBIT alone accounting for $263.2 million. It fits the pattern we have seen before, where extreme fear brings fresh institutional capital back into crypto.

Bitcoin (BTC)
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On the chart, $63,000 remains the key support. As long as that holds, the structure stays intact. The real breakout trigger is $72,000. Clear that level and momentum likely shifts toward previous highs.

If $60,000 breaks, though, the correction could extend before any major liquidity wave arrives. For now, $72,000 is the confirmation level that decides whether the next leg up begins.

Discover: The best new crypto in the world

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The post Arthur Hayes Says Bitcoin Price at $750,000 by 2027 Because Of Money Printing appeared first on Cryptonews.

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AAVE plunges 10%, leading index lower

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9am CoinDesk 20 Update for 2026-03-03: vertical

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 1924.9, down 3.3% (-66.23) since 4 p.m. ET on Monday.

One of the 20 assets are trading higher.

9am CoinDesk 20 Update for 2026-03-03: vertical

Leaders: NEAR (+1.3%) and CRO (-1.6%).

Laggards: AAVE (-10.0%) and ADA (-5.9%).

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The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

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Justin Sun’s TRON stock is dying

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Justin Sun’s TRON stock is dying

Justin Sun, the creator and face of TRON, went public with a company called TRON Inc. last year. Since then, its price has tumbled from a high of $12.80 to a recent close of $1.36 — a fall of nearly 90% in eight months.

But what exactly does TRON Inc. do and why is it fairing so poorly?

A toy company with a TRON treasury

TRON Inc. “specialize[s] in creating imaginative, high-quality toys and products that celebrate the world’s most beloved characters.”

These beloved characters include The Smurfs, Zoonicorns, and ICEE. However, TRON doesn’t control the intellectual property for these brands; instead it produces related merchandise, including, but not limited to, plushies, backpacks, and dinnerware.

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Read more: ‘Biggest NFT trading platform on TRON,’ AINFT, has $6 in volume

For some reason, it also purchased the rights to the film The Kid, starring Ethan Hawke, Chris Pratt, and Vincent D’Onofrio (RottenTomatoes: 43%, IMDb: 5.9/10).

Importantly, however, that’s not everything. There’s also TRX.

The company calls the TRX token “an attractive digital asset which can create long-term value for… shareholders.”

It claims, “Our TRX token strategy generally involves from time to time… (i) issuing debt or equity securities or engaging in other capital raising transactions with the objective of using the proceeds to purchase TRK tokens, and (ii) acquiring TRX tokens with our liquid assets that exceed working capital requirements.”

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What TRON Inc. is engaging in is akin to the Strategy Bitcoin Treasury concept, but with fewer guardrails, a very small product line outside of the TRX token treasury, and a just as significant dependence on unrealized gains.

A family company failing miserably

While TRON Inc. is now basically a penny stock, barely sitting above the $1/share price, Sun has built up a strange board of directors.

This board includes his father Weike Sun, who’s being paid in private investment in public equity (PIPE) offerings and warrants, and a 27-year-old blockchain investor and Chinese national named Zi Yang, who also works for Tronscan (the barely functional explorer that’s supposed to allow TRX users to view wallet addresses and transactions on the blockchain).

The executive leadership and board of directors have collectively been able to accumulate millions of shares of TRON Inc. through these PIPE offerings and warrants (Weike Sun isn’t listed as an insider).

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Left to right: TRON Inc. CEO Douglas McKinnon, TRON founder Justin Sun, and Sun’s father Weike Sun on July 24, 2025.

No real path to profitability

Outside issuing debt to fund more TRX purchases, TRON Inc.’s 10-Q from September points to a company that’s completely unprofitable, with no path toward a way of making money.

Its merchandising business, when coupled with operating expenses and the cost of sales, is a net loser for the company, and without the unrealized gains from TRX tokens and the unrealized gains from staking TRX tokens, it bled over $5 million last year.

Without the unrealized gains from TRX and staking TRX, TRON Inc. bled over $5 million last year.

Read more: CHART: Strategy and TRON Inc. down bad compared to bitcoin this year

How TRON Inc. is able to profit from the unrealized gains of its crypto treasury is unclear. However, what’s more understandable is that it’s essentially become a vehicle for Justin Sun to purchase hundreds of millions of TRX tokens to prop up the price of his personal cryptocurrency.

Since Sun rang the opening bell on Nasdaq, TRON Inc. is down ~90%, but TRX is down only 9%, in stark contrast to bitcoin which is down more than 43% over the same period.

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Visa and Stripe’s Bridge Expand Global Stablecoin Card Program

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Visa and Stripe's Bridge Expand Global Stablecoin Card Program

Global payment giant Visa is expanding its stablecoin card partnership with Stripe-owned Bridge, expanding the rollout of stablecoin-linked Visa cards worldwide and testing onchain settlement.

Visa and Bridge are expanding their joint card program to 18 countries, with plans to reach more than 100 across Europe, Asia-Pacific, Africa and the Middle East by the end of the year, according to a Tuesday announcement.

The expansion follows the program’s initial launch in April 2025, which first supported markets in Latin America, including Argentina, Colombia, Ecuador, Mexico, Peru and Chile.

In addition to the expansion, the companies are testing stablecoin settlement through Visa’s pilot program, enabling issuers and acquirers to settle transactions using stablecoins rather than fiat.

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The move highlights the ongoing stablecoin race in the payments industry, with Mastercard recently enabling stablecoin card spending in the US via the self-custodial crypto wallet MetaMask.

Onchain support enabled through Bridge’s partnership with Lead Bank

When the card program launched in 2025, transactions were processed by Bridge, deducting funds from the customer’s stablecoin balance and converting them into fiat, allowing merchants to receive payment in local currency like any other card transaction.

Under the new collaboration, enabled by independent commercial bank Lead Bank, settlement is now set to occur directly in stablecoins.

Bridge received conditional approval from a US regulator to become a national trust bank in mid-February. Source: Bridge

“Now, through Bridge’s partnership with Lead Bank, these card transactions can be settled onchain with Visa,” the announcement noted.

“Visa is committed to meeting businesses where they operate, and increasingly, that’s onchain,” Visa’s head of crypto, Cuy Sheffield said. “Expanding our work with Bridge gives us one more way to bring the speed, transparency and programmability of stablecoins directly into the settlement process,” he added.

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Related: Stripe considers acquiring some or all of PayPal: Report

Additionally, Visa is evaluating potential support for Bridge-issued assets, or stablecoins created and managed using Bridge’s infrastructure platform. Unlike major stablecoins such as Tether’s USDt (USDT) or Circle’s USDC (USDC), Bridge-issued stablecoins are created programmatically by businesses rather than a third-party issuer.

“This expansion of our work with Visa will enable businesses launching their own custom stablecoins to use them seamlessly within their card programs,” Bridge co-founder and CEO Zach Abrams said.

Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns

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