Market Analysis - The DeFi market experienced a significant liquidation event with $480 million in ETH futures longs being liquidated [1] - Similar long liquidation volumes were observed on April 21, preceding a move towards all-time highs, suggesting a potential bullish continuation [1] - The current market structure remains intact, indicating a temporary reset before a potential bullish reversal [1]

Valuation and Fundraising - Tether is reportedly seeking to raise $15B to $20B from private investors for a 3% stake, potentially valuing the company above $500B [1] - Tether's CEO confirmed the rumors, stating the funds will support expansion in stablecoins, AI, commodity trading, energy, communications, and media [2] - Circle's IPO target was $4B to $5B, with shares reaching a $20B valuation on listing day [2] - An estimated valuation for Tether is $133B, based on Circle's market cap adjusted by Tether's stablecoin supply and revenue share [4] - A $100B valuation for Tether is supported by comparables, but $500B is harder to justify [6] Financial Performance - Circle's Q2 2025 audit reported $12B in gross interest income from stablecoin reserves, suggesting Tether's reserve income was around $27B for the first half of 2025, or $55B annualized [3] - Tether reported $26B in gains on gold and bitcoin and $31B in recurrent profit for the same period, yielding $114B in annualized profits [4] - Tether earns twice as much per dollar of reserves compared to Circle, due to lower compliance costs and regulatory arbitrage [4][5] Market Position and Strategy - Tether is the world's top stablecoin issuer with over $170B in USDT reserves [1] - Tether's $500B valuation aims to surpass leading crypto firms like Coinbase and Circle, trailing only Bitcoin [2] - Tether's CEO claims 99% profit margins and views Tether as a transformative company with vast potential in financial services and digital assets [5]

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LIVE NOW -- Was That the Top? Bitcoin, ETH, & The Q4 Setup | Michael Nadeau's DeFi Report #6Is this really the cycle top, or just a reset before Q4 fireworks? @JustDeauIt from The DeFi Report joins @RyanSAdams to decode the latest onchain and macro data. We dig into Bitcoin’s key levels, ETH’s $4K line, and why September’s liquidation event might have cleared the path for new highs in Q4. Michael explains what a “mini alt season” tells us about dominance, where fresh capital could come from, and how to thin ...

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Regulatory Environment - Current SEC and CFTC actions are viewed positively within the crypto industry [1] - There's concern that current pro-crypto regulatory stances are not permanent [1] - A change in the law is needed to ensure future administrations cannot reverse current progress [1] Risk Assessment - The potential return of figures like Gary Gensler could undo current regulatory work [1] - The crypto industry seeks a "permanent fix" to prevent future regulatory rollbacks [1]

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Banks fighting crypto is not something new.We saw the same playbook with fintech."Eventually they stopped fighting it and started buying them up.""If banks want to issue their own stablecoins, great. Compete with us, don't try to shut as down." - @SKMersingerBanks can't avoid this technology.Crypto is how we're going to transact in the future. ...

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Global Payments Monolith Swift to Develop Blockchain Ledger https://t.co/oncHnxfTl5 ...