Appold Market Watch - Week ending 26 September 2025
Market Update & Industry News - Week ending 26 September 2025
🔷 The CEO of digital asset firm Tether.io confirmed that they are evaluating a major fundraising round of up to $20 billion, potentially valuing the company at $500 billion. It was reported that Tether, known for its USDT stablecoin, will use the capital to scale the business into new business lines, including AI, commodity trading and media.
Appold View: With a self-declared profit margin of 99% and $4.9 billion in Q2 profits, Tether now finds itself valued alongside global giants such as Netflix and ExxonMobil, and even 66% higher than OpenAI’s most recent funding valuation in April. Whether this valuation proves justified or is more of a media play remains to be seen; nonetheless, comparing a Digital Asset company with these titans can only benefit the industry.
🔷 SEC Chair Paul Atkins suggested plans to implement an "innovation exemption" by December for the blockchain industry, facilitating easier launches of digital asset products in the U.S. This exemption is part of Project Crypto, intending to ease rules for ICOs, rewards and airdrops.
Appold View: Although this brings regulatory clarity, and many industry participants will welcome this news, it could reopen the floodgates of ICOs and airdrop activity. 2026 will be an interesting year to monitor this growth.
🔷 China has established a digital yuan operations centre in Shanghai to manage cross-border payments, blockchain services, and digital assets. The People's Bank of China aims to promote yuan internationalisation and enhance China's influence in the global financial system through this initiative.
Appold View: China’s 2021 ban on cryptocurrency mining and trading has produced unintended consequences. While China has long sought to challenge US dollar dominance, the United States now holds a clear head start in shaping this new form of money. The establishment of a digital yuan hub in Shanghai marks a deliberate, though belated, effort to bridge the gap.
🔷 Circle is examining mechanisms for reversible USDC transactions to address fraud and hacks, potentially integrating stablecoins more into the traditional financial system. This approach contrasts with the fundamental principle of transaction immutability in the digital asset industry, prompting discussions on the balance between reversibility and settlement finality.
Appold View: Introducing reversible transactions undermines one of blockchain's core tenets. Immutability. Blockchain exists to remove centralised trust, making transactions final and tamper-resistant. Once you allow reversals, you re-embed a layer of central control or exception authority. Even if it’s framed as “research,” crossing that line risks eroding confidence in any chain that adopts it, especially among advocates of decentralisation.
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