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Tether co-founder Reeve Collins is launching a decentralized stablecoin that will compete with USDT in an increasingly crowded space that is still dominated by two players. The project will debut a stablecoin called USP on Ethereum and Solana blockchains in the second half of 2025, according to Bloomberg. Pi will use smart contracts to mint its USP stablecoin and minters will earn yields in the form of another token called USI. Competing With Tether The stablecoin will be backed by yield-bearing real-world assets such as bonds and over-collateralized with assets like Treasuries and money-market funds. “We view Pi Protocol as the evolution of stablecoins,” Collins told Bloomberg before comparing it to Tether. “Tether has been extremely successful in showcasing demand for stablecoins. But they keep all the yield. We believe 10 years later the market is really ready to evolve.” Collins, who was CEO from 2013 to 2015, and his partners sold Tether to the operators of the Bitfinex exchange in 2015. Back then, USDT stablecoin’s market value was less than $1 billion, today it is close to record highs of more than $140 billion. Pi Chief Executive Officer Bundeep Singh Rangar said, “You want assets that are non-correlated to crypto that are mid- to high yield, low risk.” “We have a mechanism that assesses the quality of the asset. They are ones that are vetted on their loss ratio and origination of where they are coming from,” he added. Regulations are shifting. Yield-bearing stablecoins will be the next trillion-dollar asset class — Pi Protocol (@piprotocol) February 18, 2025 Stablecoins got a green light this year with the election of US President Donald Trump. In his first days in office, he signed an executive order promoting US dollar-pegged stablecoin adoption while Congress is working on a regulatory framework for them. Coinbase CEO Brian Armstrong also wants to chip away at Tether’s market dominance. At the company earnings call last week, he said that the firm aims to make USDC “number one” but admitted that this ambition was a “stretch goal.” A Crowded Space USP is entering an extremely competitive stablecoin market that is dominated by Tether which has a share of 60% from a current supply of $141 billion. Circle’s USDC has seen its supply and market share grow in recent months, and it is currently $56 billion, giving it a market share of 24%. The third largest stablecoin is USDS, formerly DAI, which has just under $9 billion in circulation and a market share of almost 4%. The post Tether Co-Founder to Launch Yeild Bearing Stablecoin USP appeared first on CryptoPotato.

Grayscale launches Decentralized AI Fund for accredited investors Grayscale, a global crypto asset manager, announced on X the launch of its Decentralized AI Fund, now open to eligible accredited investors. The fund offers diversified exposure to the intersection of AI and crypto, featuring assets like $NEAR, $TAO, $RENDER, $FIL, $GRT and $LPT.

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Nexo, a digital assets wealth platform with over $11 billion in assets under management, has inked a major partnership with the Acapulco Tennis Open The collaboration makes Nexo ( NEXO ) the official partner of the prestigious tennis tournament, strengthening the company’s footprint in Latin America. According to a press release shared with crypto.news on Feb. 24, Nexo’s partnership with the Abierto Mexicano Telcel presentado por HSBC comes ahead of the Telcel and HSBC-sponsored tennis tournament, scheduled for Feb. 24 to March 1, 2025. Stars set to compete in the tournament’s 32nd edition at the Arena GNP Seguros in Acapulco include Alexander Zverev, Casper Ruud, and Tommy Paul. The event is one of the highlights of the ATP Tour 500 series and represents a significant move by Nexo. Over the years, crypto has made its mark in elite sports, including basketball, Formula 1, and the NFL. Nexo’s sponsorship places it alongside other high-profile deals. “This sponsorship is a testament to Nexo’s core belief that wealth creation, like championship success, requires foresight, commitment, and strategic execution,’ Nexo co-founder and executive chairman Kosta Kantchev noted. “The same attributes that define great tennis players—discipline, long-term thinking, and resilience—are at the heart of Nexo’s offerings,” he added. Nexo’s role as an official partner marks another key development in the integration of crypto into global sports events. Proud to announce our landmark partnership with the Acapulco Tennis Open @AbiertoTelcel . Built on the shared values of long-term strategy and the relentless pursuit of excellence, the partnership reflects our international engagement and commitment to sustainable success. pic.twitter.com/8kDgZ7DFK9 It also aligns with the digital asset wealth platform’s 2025 roadmap, making this one of the first major deals since Nexo’s rebrand in November 2024. Key aspects of the roadmap include expanded access to the Nexo card, cross-border transfers, and AI-driven innovations. The platform launched in 2018 after a private sale, growing to over $11 billion in AUM and handling more than $320 billion in transactions. Its product suite includes crypto-backed loans, USD accounts and crypto cards.

The cryptocurrency market stumbled after the recent hack of Bybit exchange by the infamous North Korea-linked Lazarus Group. Still, market analysts aren’t worried; they believe this setback is short-lived and the market is gearing up for a rebound. They’ve even pointed out specific cryptocurrencies expected to be at the forefront of this recovery. One analyst singled out Bitcoin’s ongoing bullish outlook, taking it as a sign that the crypto bull cycle remains strong. According to this expert, key indicators like the stochastic and hash ribbons back up BTC’s bullish story, especially as the cryptocurrency holds steady above the $90,000 mark. He suggests that breaking through $102,000 will kick off the next leg of the crypto market rally. Target-wise, the analyst projects Bitcoin’s next rally to push the cryptocurrency’s price toward the $120,000 region, possibly extending to $130,000. He believes crypto investors have their eyes on that area, making it a potential profit-taking zone. However, he also acknowledges the current tug-of-war between Bitcoin bulls and bears. He cautions that if the push higher is rejected around the $102,000 level, it could trigger another period of price decline. Related: Bybit Closes ETH Gap After Billion Dollar Hack, Proof of Reserves Coming The analyst identified ETH, SOL, SUI, and S (formerly FTM) as altcoins he expects to deliver exceptional performances when the bull run returns. However, he thinks ETH faces a risk of price weakness if the Bybit hackers start selling off the significant amount of ETH they stole. The analyst anticipates these hackers will likely trade the stolen ETH for stablecoins soon. The SOL/BTC pair took a hit, falling out of a long-established trading range. Despite this, the analyst suggests this drop could be a market trick to shake out less committed traders. He believes that reclaiming the trading range would reignite SOL’s bullish momentum and spark a sustained rally. The analyst especially emphasized his positive outlook for SUI and S, particularly SUI. He believes SUI will outperform even Bitcoin within this group of altcoins. Related: Latest Bybit Hack Linked to N. Korea’s Crypto Theft for Weapons Funding Even though S is currently down, the analyst predicts a future price surge once it establishes a trend reversal. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.