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You are here: Home / Archives for Tina Fatima

Tina Fatima

Yuga Labs Proposes ApeCoin DAO Shutdown, Launches New ApeCo Entity

June 6, 2025 by Tina Fatima

Key Takeaways:

  • Yuga Labs proposes ending the ApeCoin DAO and launching a new entity, ApeCo, to guide the ecosystem.
  • All ApeCoin DAO assets, minus essential commitments, will be transferred to ApeCo.
  • The aim is to streamline governance, increase funding quality, and strengthen core projects like ApeChain and BAYC.

In a landmark step that represents a significant evolution in the trajectory of the ApeCoin ecosystem, Yuga Labs CEO Greg Solano has put forth a proposal to dissolve the current ApeCoin DAO.

The proposal aims to do away with the DAO altogether and replace it with an entity called ApeCo, which would solely focus on enhancing concentration, accelerating execution, and backing only high-caliber projects.

This ultimately gives it a shift from efficiency to purpose burnout in its current governance model, it will no longer permit the long-term ambitions of the ecosystem to thrive beyond restraint.

I heard a ton of feedback on my post below, and I haven't seen near-unanimous support like this for anything in a long time.

People want to kill the ApeCoin DAO.

This AIP proposes just that. It's time for a leaner, faster org to take the reins.https://t.co/hJx9lUirz7 https://t.co/22LJ1OhOGe

— Garga.eth (Greg Solano) (@CryptoGarga) June 5, 2025

This transition is not framed as a retreat from decentralization but as a practical evolution. Where the DAO was an initial catalyst for engagement and participation, it then became mired in futile governance loops and indeed low-impact funding decisions.

ApeCo is conceived as an agile entity, able to better leverage strategy execution and momentum generation across key platforms.

Yuga Labs Transfers Assets to ApeCo

Under the new model, ApeCo would take almost all the assets from the DAO and the Ape Foundation. Only pre-approved staking funds and necessary legal reserves would be exempted.

About 11.25 million APE would backstop contracts – another 10 million APE would be set aside for legal, administrative, and transitional obligations. All other resources, treasury assets, intellectual property, and technical infrastructure, would be under ApeCo’s management.

This shift also entails a complete dismantling of the current DAO framework. Governance forums, working groups, and prior proposals (except for legally binding commitments) will be nullified.

To eliminate the inherited inefficiencies and move toward a professionally focused operation. The transition will be under the supervision of the executive director of the Ape Foundation, who will have all the powers to execute every step of this transition.

ApeCoin Drives Long-Term NFT Innovation

ApeCo’s debut is a return to focus on the three pillars of ApeChain, Bored Ape Yacht Club, and Otherside. A milestone-based strategy will be applied to funding with increased scrutiny, prioritizing quality and strategy over politics.

ApeCo will move away from a loose and politicized voting system in favor of a trusting, transparent environment in which capital is allocated to impactful initiatives.

Such a bold realignment says this isn’t an experimental moment anymore. With ApeCoin poised to be the driving force in the next wave of NFT and crypto innovation, its leadership is now prioritizing long-term results over the theater of consensus.

Related Reading | Bitcoin’s Market Shift: Rising Open Interest and Volatility Concerns

Filed Under: Industry Tagged With: ApeCo Ecosystem Strategy, ApeCoin Governance Overhaul, NFT Innovation Shift, Yuga Labs Proposal

Trump Crypto Empire Faces Internal Feud Over Memecoin Rights

June 6, 2025 by Tina Fatima

Key Takeaways:

  • Internal conflicts have erupted within Donald Trump’s crypto business ventures, involving a legal dispute over a high-profile memecoin.
  • Trump amplifies a conspiracy surrounding President Biden’s use of the autopen, alleging unfitness for office and unauthorized governance.
  • Legal precedent and history undermine Trump’s claims, positioning his efforts as politically driven rather than legally grounded.

A new controversy is unfolding within Donald Trump’s expanding cryptocurrency ventures. A cease-and-desist letter was recently dispatched by World Liberty Financial, a company in which the president’s family holds significant ownership, targeting Fight Fight Fight, the organization managing a popular Trump-themed memecoin.

This increase represents a battle over the core of Trump’s digital money interests. The memecoin, which was made and marketed by pro-Trump stalwart Bill Zanker, has picked up ground among conservative Internet communities.

The legal correspondence, while not public, represents intensified tensions regarding rights, branding, and profit-sharing arrangements in a volatile, highly speculative arena in which the president’s inner sanctum has significant monetary stakes now.

Trump Questions Biden’s Autopen Signature Legality

In parallel to the crypto feud, the president has reignited a political firestorm over President Joe Biden’s use of the autopen, an automated signature device, alleging it is part of a broader pattern of cognitive decline and administrative illegitimacy.

Trump has officially called for an investigation into the use of it, alleging so-called implications regarding the legitimacy of Biden-era executive actions. The accusations are based on long-standing conservative talking points, although the procedure of using the autopen has been authorized for years, even by Republicans in office.

Interpretations of the law from both the historical record and contemporary sources support its authority to execute official documents, thereby casting doubt on the president’s assertions.

Political Theater vs. Legal Reality

Despite the sensationalism surrounding the autopen probe, there is little indication that any constitutional line has been crossed.

Previous legal reviews, dating back to the Bush era, have maintained that while the act of signing can be delegated, the decision to sign must remain with the president.

Trump’s argument hinges not on a legal breach but on a portrayal of Biden as disengaged or manipulated. Yet no evidence has emerged to suggest that Biden was unaware of or disconnected from the decisions being questioned.

Therefore, the controversy seems more to align with political maneuvering than with any legal substance, having come at a time when the president is trying to manipulate media narratives and energize his base.

Related Reading | Ethereum Nears Breakout Point, Eyes $3,300 After Bullish Surge

Filed Under: Altcoin News Tagged With: Biden Autopen Scandal, Memecoin Legal Battle, Political Narrative Manipulation, Trump crypto controversy

Crypto Security Strengthened as YZi Labs Invests in OneKey

June 6, 2025 by Tina Fatima

Main Takeaways:

  • OneKey provides open-source hardware wallets to mitigate rising crypto asset storage risks with secure self-custody solutions.
  • YZi Labs’ investment reflects a broader push toward safer, more inclusive Web3 access globally.
  • The funding will drive innovation in wallet technology, threat detection, and regulatory growth in major markets.

YZi Labs, one of the leading Web3 investment hubs, recently announced a strategic investment in OneKey, an open-source crypto hardware wallet company. The investment is intended to advance the innovation of secure, next-generation solutions for storing crypto assets.

OneKey solutions are founded on the concept of self-custody, offering users a decentralized solution alternative to centralized exchanges as well as custodial services, which are increasingly being targeted by cyber threats.

https://t.co/fyc0vkS71J

— YZi Labs (@yzilabs) June 5, 2025

This collaboration comes at the opportune time amidst a chaotic year for digital asset security, as global loss due to hacks and scams totaled over $2.2 billion in 2024 alone. The need has never been higher for transparent, secure storage solutions.

OneKey combines open-source hardware with advanced on-chain threat analytics to give users, from everyday holders to institutions, more control over their assets.

Bridging Crypto Security and Wealth Management

Founded in 2019, OneKey has expanded its footprint across continents with operations in Asia, Europe, and the Middle East. A multilingual platform with an intuitive user interface and compliance-ready infrastructure attracted the market quickly, creating brand loyalty.

Besides China and South Korea, Brazil is another region where OneKey has a strong presence. Year-over-year sales at OneKey have grown over 300%, while secured asset volume has grown eleven times over the past three years.

In the wake of recently launched products like the USDC-based earning instrument which received more than $62 million in user deposits, OneKey is establishing itself not only as a secure wallet provider but as a wealth management interface for DeFi as well.

Its own stack of hardware and software is entirely open-sourced and audited, which provides transparency as well as versatility across regulatory landscapes.

Strategic Innovation and Market Expansion

OneKey will use the YZi Labs investment to accelerate the evolution of its hardware, upgrade capabilities in threat detection as well as contract analysis, and support regulatory scaling across U.S., Europe, and emerging economies.

The investment also helps to facilitate onekey’s on-going development of Anzen Lab, which is a research facility committed to stress-testing crypto wallets within actual operating conditions.

This collaboration represents a strong step toward the democratization of secure digital finance. As Web3 evolves, innovations such as OneKey are set to not only secure digital asset ownership but also make it inclusive and user-centric.

Related Reading | Dogecoin (DOGE) Poised for Explosive Bullish Breakout Amid DeFi Expansion

Filed Under: Blockchain Tagged With: Digital Asset Security, Open Source Wallets, Secure Crypto Storage, Web3 Investment Growth

Ethereum Nears Breakout Point, Eyes $3,300 After Bullish Surge

June 6, 2025 by Tina Fatima

  • Ethereum trades at $2,610.23, showing a strong 45.45% monthly gain despite a weekly decline.
  • A descending triangle pattern forms, signaling a potential breakout as the price compresses between resistance and support zones.
  • A breakout above the $2,700 resistance could drive Ethereum’s price toward the $3,300 mark with momentum.
  • Volume spikes are crucial; rising trading activity would confirm the strength behind a potential bullish breakout.

Ethereum, the second-largest cryptocurrency by market capitalization, is in a phase of technical consolidation as it trades at $2,610.23. With a market cap of $315.1 billion and a 24-hour trading volume exceeding $17 billion, ETH is drawing heightened attention from market watchers.

Although the token has declined 4.30% over the past week, its 45.45% surge in the last month reflects robust market interest and investor optimism.

ETH 1D graph coinmarketcap 1
Socure: CoinMarketCap

The current price movement reveals ETH approaching a pivotal point. Analysis based on a daily chart from mid-May to early July outlines a descending triangle, a technical pattern characterized by a horizontal support level near $2,588 and a declining resistance trendline from $2,735.

This formation commonly precedes a breakout, either upward or downward, as the price narrows toward the triangle’s apex.

Ethereum Breakout Hinges on $2,700 Resistance Level

Technical indicators are now signaling Ethereum to retest the region of the $2,695–$2,700 level of resistance. It lies on the upper edge of the descending triangle, where failed attempts to break higher had been made before.

A clean break past this level with increasing trade volumes can be considered bullish confirmation. Under such circumstances, ETH could pick up momentum towards the level of $3,300, which represents the resumption of the recent month’s rising trend.

image 67 1
Socure: X

Volume dynamics are critical to sustaining any movement. Increased volume on breaks has been the hallmark of strength within the trend and conviction among the investors, something closely monitored by the analysts as Ethereum approaches this level of resistance.

Downside Risk Remains if Resistance Holds

While the outlook is cautiously optimistic, a failure to push above $2,700 could keep downside pressure in place. A pullback would have Ethereum retest the $2,588 support zone.

If that level fails as support, then a drop toward $2,450 could be seen, which would be a pretty significant short-term correction. Currently, traders are waiting for some decisive move that would set the tone for Ethereum over the next few weeks while altcoins also remain closely tuned for directional cues.

Related Reading | Wall Street Giant JPMorgan to Accept Bitcoin ETF Shares as Collateral for Loans

Filed Under: Altcoin News Tagged With: Altcoin breakout signals, Crypto Market Trends, Ethereum Price Forecast, ethereum technical analysis

Treasure Global unveils $100M digital asset fund for AI retail innovation

June 5, 2025 by Tina Fatima

  • Treasure Global is deploying a $100 million digital asset strategy to strengthen its infrastructure for the launch of its AI platform.
  • The capital will be used to acquire blockchain-native assets such as Bitcoin, Ethereum, and stablecoins in a phased manner.
  • This initiative positions Treasure Global at the forefront of blockchain-integrated retail intelligence in Southeast Asia.

Treasure Global Inc. has unveiled a digital asset treasury initiative worth US$100 million, marking a pivotal move in its roadmap toward an integrated AI and blockchain ecosystem.

The allocation will be divided evenly between existing equity financing and a new institutional funding partnership. The treasury is designed not merely as a financial diversification play but as a mechanism to advance the company’s readiness for upcoming digital innovations.

However, by strategic investment in major blockchain-native assets, viz., Bitcoin, Ethereum, and sector-regulated stablecoins, the company is looking to build a robust financial bedrock.

Such a strategy is set to facilitate future use cases including tokenized loyalty programs, consumer-facing tools driven by data, and blockchain-enabled settlement. With a funding mechanism having flexibility, Treasure Global is able to adjust capital withdrawals according to market conditions and strategic directives.

Laying the Groundwork for AI-Driven Commerce

At the core of this treasury initiative is the Q3 2025 rollout of Treasure Global’s AI-driven consumer intelligence platform. The platform will capture real-time, behavior-validated retail insights, thus offering users an analytical perspective on traditional review-based services.

The dynamic interface will measure true sales data and demand for a particular product, and bring a measure of transparency and value to the consumer experience.

An integrated digital coupon marketplace would further strengthen the ecosystem by allowing in-app promotional interaction and instant transactions. With a fusion of data, discovery, and commerce, Treasure Global hopes to revolutionize the relationship between users and merchants in digital marketplaces.

Expanding Market Reach Through Ecosystem Synergy

Treasure Global’s flagship app, ZCITY, already boasts over 2.7 million users and continues to gain traction through strategic partnerships. The latest one with Mezzofy will keep the app’s capability to offer enterprise-level digital coupons, hence the alignment under the bigger infrastructure plan.

Combined ecosystem developments with the treasury plan put the company at a crucial intersection of retail digitization, blockchain evolution, and consumer insight.

The move captures Treasure Global’s ambition to operationally scale up and also establish itself regionally as one of the pioneering publicly listed Web3-enabled consumer platforms.

Its all-encompassing strategy is in line with a wider industry movement that harmonizes fintech solutions and AI tools within commercialization ecosystems designed to optimize efficiency, enhance customer loyalty, and generate sustainable value.

Related Reading | Bitcoin Emerges as the Ultimate Corporate Treasury Asset in 2025

Filed Under: Blockchain, News Tagged With: AI-Driven Commerce, Blockchain Retail Intelligence, Digital Asset Strategy, Tokenized Loyalty Programs

Is Trump’s Crypto Wallet Real? Family Denies Involvement

June 5, 2025 by Tina Fatima

Key Takeaways:

  • The Trump family disavows the newly announced “$TRUMP Wallet” crypto project.
  • Eric Trump threatens legal action against unauthorized use of the Trump name.
  • The wallet’s associated social media account has been suspended amid the dispute.

A new cryptocurrency venture between the TRUMP Meme Coin and Magic Eden grew controversial during the week when members of the Trump family dissociated themselves from the venture and hinted at possible legal action.

The focal point in the controversy is the purported “Official TRUMP Wallet,” a trading application meant for the exchange of digital currency under the Trump name.

The announcement, through a since-suspended X account, touted the wallet as a portal for Trump supporters to invest in crypto, complete with flashy marketing materials and promises of special rewards.

But in a matter of hours, the Trump family publicly distanced itself from any involvement. Eric Trump warned about the fraudulent use of the family name, noting that no deal had been made regarding such a product.

Meanwhile, the official memecoin account proclaimed the app was real, reflecting increased stress within Trump’s larger cryptocurrency ecosystem.

Family Rift Complicates Crypto Landscape

The friction reveals an inherent contradiction among the crypto ventures associated with Trump. On one side is Bill Zanker, a longtime Trump associate connected to the memecoin $TRUMP, which has experienced extreme price volatility and speculative interest.

On the other hand are Trump’s sons, who co-founded World Liberty Financial, a separate digital asset platform that has reported over $550 million in sales. The launch of the $TRUMP Wallet appears to have caught Trump’s sons off guard, especially as they prepare to debut their own crypto wallet under the World Liberty brand.

The simultaneous and nearly identical offerings hint at conflicting business strategies at work behind the scenes, as everyone tries to leverage Trump’s brand power and the momentum of crypto markets.

Regulatory Questions Loom as Public Confusion Grows

The fallout has raised concerns about the transparency and coordination within Trump’s crypto ventures, especially as former President Trump’s stance has favored relaxed oversight of digital currencies.

Four different crypto brands tied to the Trump name have launched since last fall, including American Bitcoin, Trump Media & Technology Group, and the contentious $TRUMP memecoin.

The suspension of the @TrumpWalletApp account on X adds further uncertainty to the wallet’s future. Meanwhile, the struggle over who has the right to use the Trump name in cryptocurrency remains unresolved, with impending lawsuits suggesting more ambiguity for investors in projects.

While the industry awaits better guidance, this scenario underscores the fundamental risk involved when famous names collide with the volatile world of digital assets.

Related Reading | XRP Targets $2.65: Is a Major Price Jump Coming Soon?

Filed Under: Industry Tagged With: Digital Asset Dispute, Legal Threat Warning, Trump crypto controversy, Unauthorized Wallet Launch

Ethereum Gains Interest as Joe Lubin Confirms Talks With Global Institutions

June 4, 2025 by Tina Fatima

Key Takeaways:

  • Consensys is in talks with financial institutions from a major country to develop Ethereum-based infrastructure.
  • A new decentralized financial cycle led by Ethereum may be emerging, according to industry signals.
  • Ethereum is gaining favor as an active institutional treasury asset with yield-generation potential.

According to the report, Ethereum co-founder and Consensys CEO Joe Lubin revealed that the company is currently in dialogue with sovereign wealth funds and top banks from a significant global economy.

These discussions aim to explore the creation of financial infrastructure using the ETH blockchain, specifically across both Layer 1 and Layer 2 networks.

Although the country remains unnamed, the level of interest indicates either a large shift in institutional adoption of blockchain or a major outlier in blockchain activity.

Where previous crypto cycles have been largely driven by speculative investment, recent signs point to practical application at the sovereign level. This type of cooperation may build scalable, secure, and decentralized infrastructures for national finance, thereby changing once again how the public sector interacts with Web3 technologies.

Supercycle Momentum Builds Around Ethereum

In an interview on Rug Radio’s latest “Fomo Hour” episode, Lubin spoke at length about crypto’s second-largest asset, predicting that the start of a new, ETH-driven decentralized supercycle may be coming soon. (Disclosure: Rug Radio and Decrypt have a shared parent company in DASTAN, and Consensys is among 22 investors in an editorially independent Decrypt).

The decentralized supercycle is a reflection of growing discontent with legacy financial systems and growing interest in blockchain technologies that are resilient, transparent, and programmable.

In this context, ETH has further cemented its position as a plausible long-term solution within institutional contexts, both private and public.

Ethereum Gains Traction as Institutional Treasury Asset

Consensys has just shown Ethereum’s growing utility by supporting SharpLink Gaming in the launch of an Ethereum treasury. In a departure from other reserve asset models that rely on passive holding, this solution aims to leverage ETH for active financial participation, staking, re-staking, and decentralized finance activities.

This move indicates a broader strategy emerging among institutions: using blockchain-native tools to achieve yield and functionality, not just storage of value.

With sovereign wealth funds now expressing interest, ETH may be on the verge of becoming a cornerstone in national-level financial infrastructure, an evolution far beyond its initial perception as a programmable asset.

As momentum builds and public institutions step into decentralized ecosystems, Ethereum’s broader global role appears to be entering a transformative new chapter.

Related Reading | Ripple’s RLUSD Secures A Nod From DFSA for Regulated Use in UAE Market

Filed Under: Industry Tagged With: Blockchain Financial Infrastructure, Decentralized Finance Integration, Ethereum Institutional Adoption, Sovereign Crypto Strategy

XRP Surges Past Resistance, Now Targeting $2.76 Price Level

June 4, 2025 by Tina Fatima

  • XRP is currently trading at $2.24, gaining 3.76% in 24 hours, indicating strong bullish momentum and growing investor confidence.
  • Market capitalization stands at $132.12 billion, with $2.44 billion in 24-hour trading volume recorded today.
  • A technical breakout from a falling wedge pattern sets bullish targets at the $2.4978 and $2.7665 levels.
  • Despite the weekly loss, a one-month gain of 3.45% suggests a possible continuation of upward price movement.

XRP is exhibiting signs of renewed bullish strength, with a 3.76% price increase, trading at $2.24. This is following on from the overall technical breakout from a falling wedge pattern, an age-old chart structure known to precede price momentum to the upside.

Such a rally has pushed the market cap of XRP to $132.12 billion, with the 24-hour volume pegged at $2.44 billion, indicating substantial investor interest. While the weekly performance is down by 3.30%, the last month has been pleasant for the cryptocurrency as it gained 3.45%.

This dual short- and medium-term behavior indicates that the transition of XRP from consolidation to expansion is imminent, further strengthening the proposition of long-term growth in the near future.

XRP 1M graph coinmarketcap
Socure: CoinMarketCap

Technical Analysis Indicates XRP’s Higher Price Targets

Chart patterns from technical analysis tools indicate that XRP was poised to break out of a wedge pattern defined from April until the beginning of June.

A falling wedge has two downward converging trend lines that usually squeeze prices before a breakout. XRP breached the upper boundary of this pattern, lying between $2.10 and $2.20, suggesting a reversal in momentum.

Forecasts based on the breakout place price targets at $2.4978 and $2.7665, respectively, by taking the height of the wedge and adding it to the breakout level.

These targets amplify bullish sentiments and are in accordance with the past performance of similar technical setups. In addition, there is a confirmed support base between the price levels of $2.05–$2.12, further strengthening conviction behind the rally.

image 41 3
Socure: X

Broader Ecosystem Fuels Market Confidence

The underlying fundamentals of the XRP remain attractive beyond the technical signals. The position of the token in the XRP Ledger, specifically in decentralized finance and cross-border payments, is always going to play an important role in determining its long-term value.

While the network is capable of handling transactions quite fast and efficiently, confidence among investors seems to be increasing. In such a scenario, the technical breakout along with the demand zones that are strengthening and the increasing utility would create a pretty positive outlook.

If this momentum picks up further, XRP might not only reach the price targets but could also pave the way for higher valuations in the months to come.

Related Reading | Ethereum Foundation Overhauls Protocol Team in Bold New Restructure

Filed Under: Altcoin News Tagged With: XRP Bullish Breakout, XRP market momentum, XRP Price Forecast, xrp technical analysis

$500M Solana Investment Planned by Classover to Strengthen Treasury

June 3, 2025 by Tina Fatima

Key Takeaways:

  • Classover Holdings secures an agreement to issue up to $500 million in convertible notes tied to a Solana-based reserve strategy.
  • Initial funding of $11 million has been set, with a mandate to direct up to 80% of the net proceeds toward SOL purchases.
  • The company aims to strengthen its financial position amid operational and liquidity challenges.

Classover Holdings Inc. (NASDAQ: KIDZ) is a live online learning platform that recently signed a significant financing deal with Solana Growth Ventures LLC for up to $500 million in senior secured convertible notes.

It’s a much bigger pivot in the company’s financial strategy toward developing a blockchain-based treasury reserve, where Solana (SOL) will be the cornerstone. The deal is structured with an upfront $11 million investment, subject to typical closing conditions.

Perhaps the most striking feature of the contract is the requirement that up to 80% of the net proceeds be directed toward purchasing SOL tokens.

This is an aggressive move for a company whose existing ratio of 0.02 indicates sharp liquidity constraints. Classover’s foray into digital asset reserves indicates an attempt to diversify and stabilize its balance sheet, given poor operating indicators.

Convertible Notes Support Solana Reserve Strategy

The convertible notes issued under the agreement are structured to be convertible into Class B common stock of Classover. The conversion price is set to be twice the closing price of the stock before the consummation of the transaction, subject to certain adjustments for it.

This pricing model could serve to incentivize early-stage investment while managing dilution risk for existing shareholders. Chardan is the sole placement agent and financial advisor for this offering.

The deal follows a prior $400 million equity raise by Classover, which increased its potential capital access to $900 million. Such back-to-back financial transactions are emblematic of a strategic long-term intent to revamp its treasury infrastructure around Solana while possibly providing some level of protection against market fluctuations.

Operational Challenges Underscore Strategic Urgency

Founded in 2020, Classover offers live online education programs for a K-12 global audience. Despite its bold ambitions and the incorporation of AI within its platform, the company has nevertheless reported an alarming 102% decline in year-over-year revenue, pointing to critical operational inefficiencies.

At a market cap of only $63 million, frankly, this funding deal would likely affect the company’s short-term survival ability after executing it. The latest developments, including an executive compensation adjustment disclosed through the SEC, reinforce Classover’s intent to retain leadership while navigating financial turbulence. Whether its Solana-centric approach proves a strategic advantage remains to be seen as market dynamics evolve.

Related Reading | Chainlink (LINK) Builds Momentum: Is LINK Ready to Break $20 Resistance?

Filed Under: Altcoin News, News Tagged With: Blockchain Treasury Shift, Classover Financial Pivot, Convertible Notes Deal, Solana Reserve Strategy

Tether Expands Digital Gold Access with Omnichain XAUt0 on TON Blockchain

June 3, 2025 by Tina Fatima

Key Takeaways

  • Tether launches XAUt0, a gold-backed stablecoin on TON, expanding digital gold access across blockchains.
  • Built on LayerZero’s OFT standard, XAUt0 allows seamless, secure, cross-chain transfers without wrapping tokens.
  • The launch aligns with rising gold demand and enhances TON’s ecosystem with new decentralized finance options.

The OFT standard is an Omnichain Fungible Token laid out by LayerZero. The native interoperability among blockchain networks will henceforth be ensured, thereby becoming an important feature that will enhance the asset’s mobility within different ecosystems.

In comparison to traditional bridge solutions, the OFT framework reduces risk since there are no intermediary chains or synthetic representations involved. XAUt0 is derived from Tether’s existing stablecoin XAUt, which represents ownership of physical gold held in Swiss vaults.

Currently available solely on Ethereum, XAUt has surpassed $832 million in circulation, making it the leading tokenized gold asset by market capitalization. With this launch, Tether hopes to stretch its digital commodity offering across several blockchains without the need for token wrapping or bridging protocols.

Tether’s LayerZero OFT Enables Seamless Cross-Chain

The technology behind XAUt0 is LayerZero’s Omnichain Fungible Token (OFT) standard. This standard provides native interoperability among blockchain networks, an important attribute for increasing asset mobility between economies.

The OFT framework differs from legacy bridge solutions as it avoids risk through the removal of intermediary chains and synthetic representations. This move positions XAUt0 not only as a stablecoin but also as an infrastructural asset for multichain DeFi.

It targets investors looking for a stable asset related to physical gold while crossing platform applications. With dApps catching up on TON, the launch of XAUt0 thereby adds to the network’s functionality while making it more attractive to institutional and retail users.

Strategic Timing Amid Market Demand for Gold

The launch is taking place at a time when the demand for gold around the world is increasing, propelled by its use as an inflation hedge and uncertainty factor coming from geopolitical tensions.

Compared to the same time last year, gold prices have climbed roughly 30%, and top-performing ETFs have delivered strong returns. Tether’s move to omnichain gold tokenization comes at a time of increasing investor demand for safe, blockchain-backed commodity exposure.

While Tether has not announced any other blockchain support besides TON, the XAUt0 launch opens the door to multichain deployment down the line. With tokenized physical assets in increasing demand, Tether’s strategy could change access to and integration of digital gold throughout blockchain platforms.

Related Reading | Ethereum’s Monthly Chart Has a “Morning Star”: Is a Rally Coming?

Filed Under: Blockchain Tagged With: Cross-chain digital gold, LayerZero omnichain technology, Tether gold stablecoin, Tokenized gold asset

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