The Daily: Tether’s ‘gold central bank’ ambitions, Morgan Stanley’s crypto push, Fidelity’s stablecoin launch on Ethereum, and more
Tether plans to become a 'gold central bank,' Morgan Stanley hired Amy Oldenburg for digital assets, and Fidelity will launch its FIDD stablecoin on Ethereum.Summary
This edition of The Daily highlights several major developments in the crypto space. Tether CEO Paolo Ardoino stated the company aims to become one of the world's largest 'gold central banks' as it aggressively accumulates gold, now holding nearly 140 tons stored in a Swiss nuclear bunker, and plans to trade these reserves for arbitrage opportunities. In traditional finance, Morgan Stanley appointed veteran Amy Oldenburg to lead its digital asset strategy, signaling a stronger institutional push into crypto, aligning with rivals like BlackRock. Furthermore, Fidelity Investments is preparing to launch its dollar-backed stablecoin, the Fidelity Digital Dollar (FIDD), on the Ethereum network in the coming weeks, citing regulatory clarity from the GENIUS Act. Other news includes former Revolut leaders raising $6 million for their onchain finance app Bleap, and a South Dakota lawmaker reviving a bill to allow the state to invest public funds in Bitcoin.
(Source：The Block)