Crypto Morning Brief: Tether seeks up to $20 billion in financing, SBF's X account posts for the first time in six months
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Crypto Morning Brief: Tether seeks up to $20 billion in financing, SBF's X account posts for the first time in six months
The U.S. SEC plans to introduce an "innovation exemption" for crypto companies by the end of the year.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump: U.S. Prepares to Implement New Round of Strong Tariffs
According to Jinshi Data, U.S. President Trump stated that the United States is preparing to implement a new round of strong tariffs.
OECD: Expects Fed to Cut Key Rate Again in 2025, Two More Cuts by Early 2026
According to Jinshi Data, the Organisation for Economic Co-operation and Development (OECD) stated it expects the Federal Reserve to cut its key interest rate again in 2025, with two additional cuts expected by early 2026.
SEC Plans to Introduce "Innovation Exemption" for Crypto Firms by Year-End
According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) plans to introduce an "innovation exemption" for crypto companies by year-end.
UXLINK: Will Conduct Token Contract Migration; New Contract Submitted for Security Audit
According to UXLINK, the project released its fourth security announcement, stating it will conduct token contract migration.
UXLINK said ongoing unauthorized minting has damaged the project’s whitepaper and community consensus. The team has communicated with major centralized exchange partners regarding the planned token swap and has received full support.
The new smart contract has been submitted for security audit. This contract will have a fixed supply, ensuring no additional tokens will ever be created. The team has decided to abandon the mint-and-burn functionality typically used in cross-chain solutions to protect community interests.
In addition, UXLINK is responding to inquiries from the Korea Digital Asset Exchange Association (DAXA) and is preparing a comprehensive incident report together with security expert partners.
The team reminds users not to trade unauthorized tokens on decentralized exchanges and to take extra precautions to secure their wallets.
STBL Founder: Buyback Program to Launch in Q4, 100% of Minting Fees to Be Used for Repurchases
According to STBL founder Avtar Sehra, STBL will launch a buyback program in Q4. At that time, 100% of minting fees will be allocated to repurchasing $STBL, driving up its value.
Avtar Sehra said that following the launch of STBL, the following features will be rolled out: 1. Multi-factor staking; 2. Buyback launch; 3. USST minting launch; 4. 100% fee allocation to buybacks with on-chain logging.
Earlier news: Binance has launched STBL perpetual contracts.
Avantis Announces Season 3 Reward Program: 40 Million AVNT Tokens Worth Over $80 Million to Be Distributed
According to official disclosure from Avantis, the platform has announced the launch of its Season 3 reward program, distributing 40 million AVNT tokens as rewards—4% of total AVNT supply—valued at over $80 million at current prices.
The program will distribute rewards to XP holders over the next five months, with 75% allocated to traders (approximately $60 million) and 25% to liquidity providers (approximately $20 million). Season 3 began on September 3 and is scheduled to end on February 28 next year, when the AVNT token claim function will go live.
daos.fun Core Member: elizaOS Team to Reorganize Token, ai16z Holders Eligible for New Token Snapshot
Baoskee, a core member of daos.fun, posted that the elizaOS team will restructure its token. All $ai16z holders will be eligible for a snapshot of the new token and can exchange it for the new $elizaOS token at a fixed ratio. According to Baoskee, the goals of this restructuring include: establishing a new treasury, resetting the capital structure while preserving existing community rights, achieving full cross-chain interoperability from the outset (in line with Shaw’s vision), resolving copyright issues related to the "ai16z" brand, and updating token metadata. The team will release further details on value capture mechanisms later.
SIGN Surges Over 30% in a Day; CZ Says Sign Is a Company in YZiLabs Portfolio
SIGN rose to $0.135 before pulling back to $0.11167, gaining over 30% intra-day.
Previously, CZ mentioned that Sign is a company within the YZiLabs portfolio. When retweeting a post about “Sign launching S.I.G.N., a blockchain tech stack designed for sovereign nations,” he commented, “I might’ve helped just a tiny bit here. Of course, just chatting, didn’t write any code. Made a few introductions across several countries. Sign is one of the companies in the YZiLabs portfolio.”
SBF's X Account Posts for First Time in Six Months
FTX founder SBF's account posted "gm" for the first time in six months.
FTT surged over 40%, currently trading at $1.19, possibly influenced by the post.
Kraken Co-CEO: No IPO Consideration for Now, Will Continue Pursuing Acquisition Opportunities
According to DL News, Kraken co-CEO Arjun Sethi said in an exclusive interview that the company will continue seeking acquisition opportunities but will not pursue an initial public offering (IPO) for now.
Sethi said, “We’re always assessing strategic fit, but we won’t do ‘blind fishing’ deals.” In September, after Kraken acquired retail futures trading platform NinjaTrader for $1.5 billion, it went on to acquire proprietary trading firm Breakout.
On IPOs, despite competitors Bullish and Gemini listing on the NYSE and Nasdaq this summer, Sethi made it clear Kraken won’t follow suit: “If we had panic-listing mentality, we’d have filed already.”
Tether Seeks Up to $20 Billion Funding at $500 Billion Valuation
According to two sources familiar with the matter, Tether Holdings, issuer of the world’s largest stablecoin, is in talks with investors to raise up to $20 billion, a move that could make the cryptocurrency firm one of the most valuable private companies globally.
Tether aims to raise between $15 billion and $20 billion through a private placement, representing about 3% of the company. The talks are still in early stages. Based on the stake offered, the deal could value Tether at around $500 billion, putting it on par with OpenAI and SpaceX. Its closest rival, Circle, had a market cap of approximately $30 billion on Tuesday afternoon.
Tether sits at the forefront of stablecoins, with its USDT token pegged to the U.S. dollar and a market cap of $172 billion—the largest stablecoin. Circle’s second-largest stablecoin, USDC, has a market cap of about $74 billion.
Market Movements
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