Tether’s CEO points to the company’s growing Bitcoin and gold treasury as a reason why a speculative $515 billion valuation might actually be “a bit bearish.” Tether CEO Paolo Ardoino says the stablecoin issuer has no intention of going public, just days after rival Circle made its debut on the New York Stock Exchange (NYSE). “No need to go public,” Ardoino said on June 7, just two days after Circle, which is behind the stablecoin USDC (USDC), entered the public market on June 5. Circle’s shares climbed 167% on its first trading session on the NYSE. Ardoino addressed valuation speculation raised by Artmesis CEO Jon Ma, who claimed that if Tether, which is behind the stablecoin USDT (USDT), were to go public, it would rank as the 19th largest company globally with a valuation of $515 billion, larger than multinational giants like Costco and Coca-Cola. Read more
The Bitcoin community is divided after core developers released a joint statement on transaction relay policy and use cases amid the ongoing OP_RETURN debate. A collective statement from 31 Bitcoin core developers has sparked a global debate among Bitcoiners after suggesting a hands-off approach to how the Bitcoin network is used, amid ongoing controversy over non-monetary use cases. “This is not endorsing or condoning non-financial data usage, but accepting that as a censorship-resistant system, Bitcoin can and will be used for use cases not everyone agrees on,” the June 6 statement published on the Bitcoin Core website said. The letter argued that Bitcoin (BTC) is a network “defined by its users” and that its core contributors are “not in a position” to mandate what software or policies they desire. It comes amid the ongoing debate over spam inscriptions on the Bitcoin network. Read more
Metaplanet plans to own 100,000 Bitcoin by the end of 2026, James Wynn lost $25 million in a Bitcoin bet: Hodler’s Digest Metaplanet, also known as Japans Strategy, has updated its Bitcoin acquisition plans to acquiring 100,000 BTC by the end of 2026. Metaplanet on June 6 posted its new Bitcoin plan, increasing its previous target of 21,000 BTC. Our previous target to hold 21,000 BTC by the end of 2026 has now been dramatically revised upward. We now aim to hold 100,000 BTC by that time, Metaplanet CEO Simon Gerovich said in an announcement posted on X. Read more