🚨JUST IN: TRON HITS 100M MONTHLY ACTIVE ADDRESSES@Trondao $TRX sees nearly 50% growth in active addresses since Jan 2025, with network transactions at a record 342M and stablecoin market cap hitting $84.5B, per CryptoRank.The surge underscores TRON’s expanding adoption and its growing role in high-volume stablecoin activity. ...

RT Cointelegraph Decentralization Guardians (@CTDG_DevHub)⚡️ LATEST: TRON has reached 100M monthly active addresses.Since Jan 2025, active addresses are up nearly 50%.Stablecoin market cap hit a record $84.5B, while network transactions reached a new ATH of 342M. https://t.co/jR5SSR7XEt ...

Core Insights - Tether is expanding its presence in the U.S. with a significant investment in Anchorage Digital, marking a strategic shift from its historical focus on offshore and emerging markets [1][2] Group 1: Investment Details - Tether announced a $100 million investment in Anchorage Digital, a federally chartered crypto bank in the U.S. [2] - The partnership aims to enhance U.S. stablecoin infrastructure, with Anchorage providing custody, staking, settlement, and stablecoin services for institutional clients [2] - The investment values Anchorage Digital at $4.2 billion, as stated by the bank [3] Group 2: Strategic Goals - Tether's CEO, Paolo Ardoino, emphasized the company's mission to challenge the status quo and build global financial infrastructure, highlighting a shared belief in secure and transparent financial systems [3] - The partnership with Anchorage is expected to bring both capital and credibility to the bank [3][4] Group 3: Financial Position - Tether has accumulated between 80 to 116 metric tons of gold, positioning itself as the world's largest private-sector gold holder through its reserves and gold-backed token XAUT [5] - The company holds $122 billion in direct U.S. Treasuries and over $141 billion in total Treasury exposure, according to its latest BDO attestation [6]

Financial Data and Key Metrics Changes - Revenues for fiscal Q2 2026 increased 136% to $6.5 billion from $2.7 billion in Q2 of the previous year, with a 69% increase excluding $2.5 billion of forward sales [11][12] - Net income attributable to the company for Q2 totaled $11.6 million, or $0.46 per diluted share, compared to $6.6 million, or $0.27 per diluted share in the same year-ago quarter [19] - EBITDA for Q2 fiscal 2026 totaled $33.9 million, an increase of 109% compared to $16.2 million in the same year-ago quarter [20] Business Line Data and Key Metrics Changes - Gold sales in Q2 fiscal 2026 were 545,000 ounces, up 17% from Q2 of last year, while silver sales were 18.6 million ounces, down 15% from Q2 of last year [22] - The number of new customers in the DTC segment was 96,100 in Q2 fiscal 2026, up 47% from Q2 of last year [23] Market Data and Key Metrics Changes - Premium spreads remained tight through the end of 2025, with backwardation in the silver market contributing to trading losses [7] - The problem with backwardation in Q2 has eased, and markets are moving back towards contango, which is positive for the trading business [9] Company Strategy and Development Direction - The company aims to integrate and realize cost savings and synergies from recent acquisitions while expanding both domestic and geographic reach [25] - The strategic investment from Tether is expected to enhance liquidity and provide opportunities for growth in the physical gold markets [25][84] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about navigating rapidly evolving market conditions and highlighted increased consumer demand across platforms [7] - The company anticipates a strong quarter ahead, driven by elevated consumer demand and improved premium spreads [9][37] Other Important Information - The company has entered into an agreement with Tether Investments for a significant investment, which includes a gold leasing facility of no less than $100 million [4][5] - The board of directors declared a quarterly cash dividend of $0.20 per share, maintaining the current dividend program [21] Q&A Session Summary Question: Comparison of gold and silver performance in the December quarter - Management noted a shift back to silver, with silver representing about 50% of total volume, and premiums for one-ounce silver products significantly higher than three months ago [32][33] Question: Impact of widening spreads on profitability - Management indicated expectations for a strong quarter due to widening spreads [37] Question: Tether investment impact on profitability - Management expects a significant drop in interest expense and improved liquidity from the Tether investment [44] Question: Ability to keep products in inventory amid surging demand - Management stated that having two mints allows for greater product availability compared to competitors [48] Question: Future capacity and logistics facility expansion - Management indicated that while there is potential for future expansion, current focus remains on optimizing existing facilities [54] Question: Non-controlling items impact on GAAP earnings - Management identified Sunshine Mint's facility shutdown as a key issue affecting non-controlling items this quarter [57][58] Question: Strategic M&A efforts post-Tether agreement - Management confirmed that the Tether partnership supports continued growth and larger transactions in the physical gold markets [83]

Core Insights - Tether has acquired a $150 million minority stake in Gold.com, representing a 12% ownership, as part of its strategy to enter the gold market amid rising investor interest in gold for stability [1][2]. Investment Details - The investment allows Tether to integrate its gold-backed token, XAUT, into Gold.com's platform, which facilitates access to both physical and tokenized gold [2]. - Tether and Gold.com are exploring the possibility of enabling purchases of physical gold using Tether's USDT and the newly launched USAT stablecoin [2]. Market Context - Gold prices have recently surged, exceeding $5,000 per ounce, contributing to a significant increase in the blockchain-based gold token market, which grew from $1.3 billion to over $5.5 billion [3]. - Tether's XAUT token currently dominates the tokenized gold market, accounting for over 60% and is fully backed by physical gold stored in Swiss vaults [3]. Strategic Perspective - Tether's CEO, Paolo Ardoino, emphasized that gold serves as a long-term hedge against instability rather than a short-term trade, reflecting the company's commitment to protecting its user base [4]. - Tether also announced an investment in Anchorage Digital, a regulated crypto bank, further indicating its strategic expansion in the financial services sector [4].

Core Insights - Tether has invested $100 million in Anchorage Digital, valuing the bank at $4.2 billion [1][2] - Anchorage provides various services including custody, staking, settlement, and stablecoin issuance to institutional clients [2] - The investment positions Tether within the growing U.S. stablecoin infrastructure, which is increasingly favoring regulated entities [3] Company Overview - Anchorage holds a national banking charter in the U.S. and has a working relationship with Tether, serving as the banking partner for Tether's USAT stablecoin [2] - Tether, regulated in El Salvador, primarily targets offshore users and emerging markets with its $185 billion USDT token [3] Strategic Implications - Tether's investment reflects a commitment to secure and transparent financial systems, aligning with its mission to challenge existing financial structures [4] - The investment allows Anchorage employees to sell equity at the same valuation through a tender offer, indicating a focus on employee engagement and retention [1]

Core Insights - Tether's USDT stablecoin has seen significant growth in user adoption and market cap despite a challenging market environment for cryptocurrencies [1][3][4] Group 1: User Adoption and Market Performance - Tether added 35.2 million new users in Q4 2025, bringing the total estimated global user base to 534.5 million, marking the eighth consecutive quarter of over 30 million new users [4] - USDT's market cap reached $187.3 billion, increasing by $12.4 billion in just three months during a particularly difficult quarter for the crypto market [3][4] - On-chain holders of USDT increased to 139.1 million, representing approximately 70.7% of all stablecoin wallets, with monthly active on-chain users hitting a record 24.8 million [5] Group 2: Financial Reserves and Stability - Tether's reserves grew to $192.9 billion, with an excess equity of $6.3 billion over liabilities, providing a substantial buffer for redemptions [4] - The company reported full-year profits exceeding $10 billion, primarily driven by yields from substantial U.S. Treasury holdings [4] - Tether's U.S. Treasury exposure amounts to $141.6 billion, positioning it as a top-20 global holder, surpassing countries like Saudi Arabia and Germany in certain metrics [6] Group 3: Strategic Asset Allocation - Tether has increased its Bitcoin holdings to 96,184 coins, up approximately 9,850 in Q4 2025 [6] - The company has also accumulated 127.5 metric tons of physical gold, an increase of 21.9 tons quarter-over-quarter, stored in secure Swiss vaults [6][7] - Tether's strategy includes aggressive physical gold purchases, with a total of $24 billion at peak, aimed at diversifying reserves and hedging against fiat and debt risks [7]

Core Insights - Stablecoins are emerging as a significant use case in the blockchain space, particularly in South Africa, which is leading the way in crypto innovation on the continent [1][2] Group 1: South Africa's Crypto Landscape - South Africa has over $300 billion in stablecoin tokenized across various chains, primarily Ethereum and Solana, showcasing its leadership in the African tech scene [2] - The recent launch of ZARU, a stablecoin backed one-to-one by the South African rand, involves major local firms such as Luno, Sanlam, EasyEquities, and Lesaka, indicating a collaborative effort in the crypto space [4][5] Group 2: ZARU's Features and Implications - ZARU, launched on February 3, 2026, aims to bring the South African Rand onto blockchain rails, making it "internet-native" and competitive with major currencies like the Euro and USD [3][5] - The stablecoin offers efficiency in transactions, with instantaneous and low-cost settlements compared to traditional remittance methods, thus enhancing economic opportunities [6] Group 3: Regulatory Context and Market Trends - The launch of ZARU comes amid regulatory tensions in South Africa and a notable shift in local crypto adoption, with citizens increasingly favoring USD-backed stablecoins over speculative assets like Bitcoin [7][8] - Reports from the South African Reserve Bank (SARB) indicate that volumes related to USD-pegged stablecoins have increased over 20 times in the past three years, reflecting a structural shift in the market [8]

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $1.248 billion, up 21% year-over-year, and cash EPS of $6.04, up 13% [4][14] - Full year revenue for 2025 was $4.528 billion, representing a 14% increase, with cash EPS of $21.38, up 12% [6][15] - Organic revenue growth for the full year was 10%, marking four out of the last five years with growth of 10% or higher [6][15] Business Line Data and Key Metrics Changes - Corporate payments segment grew 16% organically in Q4, driven by increased spend volumes, which rose 44% on a pro forma basis [15] - Vehicle payments segment achieved 10% organic revenue growth in Q4, with strong results across the U.S., Europe, and Brazil [16] - The lodging segment decreased by 7% year-over-year, with expectations of low single-digit growth in 2026 [17] Market Data and Key Metrics Changes - New sales or bookings increased by 29% year-over-year, indicating robust sales momentum [5] - Same-store sales turned positive, up 1%, while overall revenue retention remained stable at 92% [5][15] Company Strategy and Development Direction - The company aims to simplify its portfolio, focusing on corporate payments and divesting non-core assets like PayByPhone [9][21] - Key priorities for 2026 include enhancing U.S. sales, expanding payables, improving cross-border capabilities, and implementing AI solutions [10][12] - The company plans to leverage acquisitions, particularly the Alpha acquisition, to drive revenue growth and operational synergies [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the 2026 guidance, projecting revenue of $5.265 billion, up 16%, and cash EPS of $26, up 22% [8][22] - The macroeconomic environment is expected to be favorable, with stable tax rates and lower interest rates contributing to growth [9][22] - Management highlighted the importance of sales growth and retention in sustaining business momentum [34] Other Important Information - The company repurchased 1.7 million shares in Q4 for $500 million, with a total of $1.5 billion authorized for future buybacks [20] - The company has remediated a material weakness related to user access, which will be formally reported in the 10-K [25] Q&A Session Summary Question: Can you elaborate on payables monetization initiatives? - Management acknowledged the need to diversify payment options beyond virtual cards and is testing new methods like e-checks and instant payments, expecting to see impacts by Q2 or Q3 [27][28] Question: What is the organic revenue growth for domestic vehicle payments versus Brazil? - Domestic vehicle payments achieved approximately 5% organic growth for the quarter, with consistent results across Europe and Brazil contributing to the overall 10% growth [29][30] Question: What are the expectations for corporate payments growth? - Management indicated that the corporate payments segment has the sales pipeline to support mid-teens growth, although float revenue compression may impact results [43][44] Question: What are the lessons learned from the PayByPhone acquisition? - Management noted that while the initial thesis for the acquisition did not fully materialize, they successfully increased profits and are selling the asset for a profit [51] Question: What is the outlook for the lodging segment? - Management acknowledged the challenges in the lodging segment but noted stabilization and improvements in new sales as key to future growth [63]

Group 1: CME's Crypto Initiatives - CME Group is exploring the launch of its own cryptocurrency that could operate on a decentralized network, as confirmed by CEO Terry Duffy during the latest earnings call [2][5] - The company is also working on a "tokenized cash" solution in collaboration with Google, set to launch later this year, which involves a depository bank facilitating transactions [4] - Duffy emphasized the importance of the source of collateral, indicating a preference for tokens from systemically important financial institutions over those from lesser-known banks [3] Group 2: Market Performance and Technical Analysis - CME's average daily crypto trading volume reached a record $12 billion last year, with micro-ether and micro-bitcoin futures contracts being top performers [6] - CME stock has broken out from an inverse head and shoulders pattern, with a target price of $320, following a successful breakout above the neckline at $290 [7][9] - The stock is showing strong bullish momentum, with all EMAs in bullish alignment and an RSI of 72.99, indicating overbought conditions [8]