ChainCatcher news, according to The Block, Standard Chartered's Global Head of Digital Assets Research, Geoff Kendrick, stated that the recent BTC pullback is mainly influenced by changes in the U.S. Treasury market. He explained that the decline in the term premium of U.S. Treasuries has boosted market confidence, which may temporarily weaken Bitcoin's appeal as a hedge.Nevertheless, Kendrick maintains his prediction that Bitcoin will reach $125,000 by the end of the year and expects it to hit $200,000 by the end of 2025. Notably, the upcoming options expiration this Friday is also putting short-term pressure on Bitcoin prices. Data shows that since the U.S. elections, spot Bitcoin ETFs have accumulated approximately 77,000 Bitcoins, while MicroStrategy has increased its holdings by 134,000 Bitcoins, with an average institutional purchase price of $88,700. Kendrick anticipates that this price level may serve as a short-term support, with Bitcoin consolidating in the range of $85,000 to $88,700 before continuing to rise.

ChainCatcher message, Paxos officially released the PYUSD transparency report for September 2024, disclosing relevant unaudited data as of August 31, 2024, 05:00 Beijing time, including:Total Tokens Outstanding decreased to $709,794,225;The current market value of collateral in U.S. Treasury securities is approximately $111,598,980, with a nominal position value of about $110,718,542;The current market value of collateral in U.S. Treasury collateralized reverse repurchase agreements is approximately $585,329,040, with a nominal position value of about $573,852,000;The current market value of cash deposits is approximately $23,224,383, with a nominal position value of about $23,224,383;The current market value of collateral in total net assets is approximately $720,152,403, with a nominal position value of about $707,794,925.

ChainCatcher news, according to CoinDesk, RWA issuer Midas announced that after obtaining approval from the Liechtenstein regulatory authorities, it will expand the range of its tokenized U.S. Treasury bonds and yield arbitrage trading products for retail users.This means that Midas has removed the $100,000 minimum investment requirement and investor certification process for the mTbill and mBasis tokens, and has simplified the token investment process to just "one click" to obtain the tokens. The company stated that these tokens can be used globally, excluding the United States and sanctioned countries.

ChainCatcher news, Tether disclosed on its official website that data shows Tether's reserves are primarily composed of U.S. Treasury bonds, with holdings exceeding $97.6 billion------if Tether were considered a country, its Treasury bond holdings would rank 18th globally, higher than Germany, the UAE, and Australia.Since its establishment, Tether has collaborated with 180 institutions across 45 jurisdictions, freezing approximately 1,850 wallets involved in illegal activities and recovering over $113.8 million in assets. Recently, Tether took decisive action against the notorious North Korean hacker group Lazarus Group, freezing and blacklisting them.

ChainCatcher news, Glen Capelo, Managing Director of Fixed Income at Mischler Financial Group, stated that a 25 basis point rate cut by the Federal Reserve is likely to lead to a sell-off of U.S. Treasuries, although this largely depends on Powell's press conference. Michael Rosen, Managing Partner and Chief Investment Officer at Angeles Investments, believes that the current bond market is pricing in the Fed's rate cut pace too aggressively. The market expects the Fed to cut rates by 250 basis points next year, a magnitude that is only possible in the case of an economic recession. Therefore, he believes that the decline in short-term U.S. Treasury yields will be lower than market expectations, while long-term yields may even start to rise from now. (Jin Shi)

ChainCatcher news, Tether released its Q2 2024 financial report, showing that its profits for the first half of 2024 reached a record high of $5.2 billion, with net operating profit reaching $1.3 billion, marking Tether's best performance ever. Additionally, Tether's holdings of U.S. Treasury bonds exceeded $97.6 billion, also setting a new record.The total reserve of Tether tokens in circulation amounts to $118,436,336,293, while the total liabilities of the company issuing Tether tokens stand at $113,101,998,938, of which $112,395,445,973 is related to the issued digital tokens.

ChainCatcher news, according to Cointelegraph, the Aptos Foundation announced the launch of Ondo Finance's yield-bearing stablecoin Ondo US Dollar Yield (USDY) on the Aptos blockchain.It is introduced that USDY is a financial instrument backed by U.S. Treasury securities, which can be accessed by non-U.S. residents through the Aptos blockchain. This digital asset has not yet been registered under U.S. securities laws. The Aptos Foundation pointed out in the announcement that the stablecoin has advantages in providing services to underserved communities and in financial democratization.

ChainCatcher news, Tether CEO Paolo Ardoino posted on social media that USDT is bringing dollars to hundreds of millions of people living in developing countries who need an alternative currency to their local currency, which is rapidly depreciating. Tether has been investing its stablecoin reserves in U.S. Treasury bonds and has now become one of the top three holders of short-term U.S. Treasury bonds globally.

ChainCatcher news, according to The Block, FalconX has launched tokenized treasury fund trading as some investors show increased interest in securities issued by the U.S. government.According to a FalconX representative speaking to The Block, the crypto-focused brokerage executed its first trade on June 11. USTB is a digital token representing short-term bonds issued by the U.S. government, which can be traded on a public blockchain.The company's support for trading this token is due to U.S. Treasuries continuing to offer yields above 5%, following the Federal Reserve's interest rate hikes to curb inflation. As a result, some risk-averse traders are investing in digital assets backed by Treasuries instead of stablecoins, which may experience price volatility if they decouple from the underlying assets.

ChainCatcher news, Tether's comprehensive financial data for the first quarter of this year shows that as of March 31, its direct and indirect holdings of U.S. Treasury securities amounted to as much as $91 billion. Meanwhile, the company also holds $5.4 billion worth of Bitcoin. According to Treasury data from March, Tether is the 19th largest holder of U.S. Treasury securities among sovereign nations, positioned between South Korea and Germany. In response, former House Speaker Paul Ryan has called for regulation of stablecoins, as the U.S. Treasury securities held by Tether underpin the digital fortress of the dollar.

ChainCatcher news, according to CoinDesk, the tokenization company PV01, led by cryptocurrency market maker B2C2's founder Max Boonen, announced on Tuesday that it has completed its first tokenized bond sale under UK law, marking a key step towards the goal of creating a bond market (including corporate debt) on the blockchain.It is reported that the asset is a tokenized version of a $5 million U.S. Treasury bond issued on April 8, which was redeemed a week later, with market makers B2C2, BlockTower Capital, and Keyrock investing in PV01's "proof of concept" issuance.After the completion of the initial issuance, Boonen stated that PV01 plans to expand its tokenized Treasury bond issuance in the short term and to scale up to corporate bond issuance in the medium term.

ChainCatcher news, SoSo Value data shows that the U.S. 10-year Treasury yield and Bitcoin price have exhibited a significant negative correlation of -90.61% over the past 6 months. Yesterday, the U.S. 10-year Treasury yield surged to 4.3, while the U.S. stock market adjusted overall, with Bitcoin price dropping more than 5% in 24 hours.Additionally, meme stocks in the U.S. stock market continue to experience a significant pullback, while the cryptocurrency meme sector has seen a sharp decline of over 12% in 24 hours, leading all cryptocurrency sectors, whereas the SocialFi sector only dropped by 4.58% in 24 hours.