The Daily: Tether launches ‘Made in America’ USAT stablecoin, what gold’s surge and Clarity Act limbo mean for crypto, and more
Tether launched its regulated USAT stablecoin, while gold's surge and regulatory uncertainty frame crypto's future.Summary
Tether officially launched its regulated, U.S.-focused stablecoin, USAT, issued through Anchorage Digital Bank, positioning it as a compliant alternative to USDT for the American market following the passage of the GENIUS Act. In market analysis, Bitwise CIO Matt Hougan suggested gold's surge above $5,000 signals institutional distrust in fiat systems, which could benefit crypto, but warned that the limbo surrounding the Clarity Act might force crypto into a slower, utility-driven adoption phase. Meanwhile, silver surpassed Bitcoin's post-2017 gains, while Bitcoin struggled amid risk-off sentiment and ETF outflows. Other news included Mesh achieving unicorn status after a $75 million Series C, and Standard Chartered warning that stablecoin adoption could drain up to $500 billion from U.S. bank deposits by 2028.
(Source：The Block)