Crypto Market Dynamics: New Moves from Tether, Polymarket, and Other Companies

Tether Launches Compliant Stablecoin USAT, with Former White House Official at the Helm On September 12, Tether, the issuer of the world's largest stablecoin, USDT, announced it would launch USAT, a new dollar-backed stablecoin under US regulatory frameworks. The company appointed Bo Hines, former Executive Director of the White House Crypto Council, as CEO of Tether USAT. USAT will strictly adhere to the regulatory standards of the US GENIUS Act, be backed by transparent reserves, and aim to provide businesses and institutions with a digital alternative to cash and traditional payment systems. The stablecoin will utilize Tether's Hadron technology platform, with federally regulated crypto bank Anchorage Digital serving as the compliant issuer and Cantor Fitzgerald serving as the designated reserve custodian. Tether CEO Paolo Ardoino stated that the launch of USAT is a natural step in ensuring the dollar's dominance in the digital age. Polymarket's valuation soars, signaling a potential return to the US market. According to media reports on September 12, blockchain prediction market platform Polymarket is raising a new round of funding, with a post-money valuation of at least $3 billion. At least one investor has pegged its valuation at $10 billion, a nearly tenfold increase from its $1 billion valuation in June. The key to Polymarket's significant valuation increase is its upcoming return to the US market. In July of this year, the company acquired QCX, a Florida-based derivatives exchange. In September, QCX received a no-action letter from the U.S. CFTC, exempting its event contracts from certain federal reporting and recordkeeping requirements, clearing a major hurdle for its compliance operations in the United States. The Winklevoss twins: Bitcoin is expected to reach $1 million in the next decade. The billionaire Winklevoss twins, founders of the cryptocurrency company Gemini, predict that Bitcoin will reach $1 million within the next decade. Tyler Winklevoss stated that if Bitcoin could replace gold, its price would reach this level, calling it "Gold 2.0." The Winklevoss twins made the remarks on the eve of Gemini's IPO. They believe Bitcoin is an emerging store of value, and as investor concerns about inflation grow, demand for Bitcoin as a safe-haven asset will continue to grow. Forward Industries, a Nasdaq-listed company, has purchased 4 million SOL tokens, valued at approximately $800 million, of which 2 million are held in custody by Galaxy Digital and 1.75 million by Coinbase Prime Custody. According to a previous announcement, Forward Industries still has $800 million available to purchase SOL. On September 11, Forward Industries completed a $1.65 billion private equity investment transaction to build a digital asset treasury strategy centered on SOL, led by Galaxy Digital, Jump Crypto, and Multicoin Capital. WisdomTree Launches First Tokenized Fund, Lowering the Barrier to Private Credit Investment WisdomTree Inc. has launched its first tokenized fund, the WisdomTree Private Credit and Alternative Income Digital Fund (symbol CRDT), which officially launched on Friday. CRDT tracks an equally weighted index of 35 closed-end funds, business development companies, and real estate investment trusts. The minimum investment is $25, with redemptions possible within two days. CRDT will be tokenized on the Ethereum and Stellar blockchains at launch, with plans to expand to other blockchains, such as Avalanche, in the coming weeks. The fund aims to provide exposure to private credit and alternative income through a transparent tokenized structure, lowering barriers to entry and increasing liquidity. TON Strategy Company Executes Share Repurchase Program and Launches Staking Business TON Strategy Company (NASDAQ: TONX), a digital asset treasury company, announced that it has repurchased over 250,000 shares of its common stock under its previously announced $250 million share repurchase program at an average price of $8.32 per share. Concurrently, the company launched TON staking, which allows users to earn income by contributing their TON tokens to network security, generating recurring on-chain revenue. Executive Chairman Manuel Stotz stated that the repurchase and pledge milestones demonstrate the company's confidence in the durability of its balance sheet and long-term opportunities. Disclaimer: The content of this article is for reference only and does not constitute investment advice. Investors should consider cryptocurrency investments rationally based on their own risk tolerance and investment objectives and avoid blindly following trends.