Tether Completes Audit, Wintermute Bets on AI and High-Frequency Trading, And More – Weekly Recap

This week’s stories spanned old crypto fortunes, transparency, market forecasts, trading expansion, and macro shifts. Dormant Ethereum whales moved millions after more than a decade, while KPMG issued Tether a clean audit on its 2025 financials. Arthur Hayes warned bitcoin could fall to $50,000 before eventually reaching $1 million, Wintermute committed $1 billion to AI and high-frequency trading, and gold climbed above $4,400 as China kept buying and Fed expectations softened.

Editor’s comment:

This particular entity was up 605,924% on its original pre-mine investment. It’s unclear whether the coins were moved with the intention of selling, but it goes to show the difference in profile between today’s market participants and the OGs who got in on the ground floor.

KPMG Completes Full Audit of Tether’s 2025 Financial Statements

Editor’s comment:

This signals the end of an era. For many years, “Tether truthers” contended that USDT and the rest of the company’s products were backed by nothing and a ticking time bomb. With the KPMG audit, a potential black swan for crypto has effectively been eliminated.

Arthur Hayes Warns Bitcoin May Fall to $50,000 Before $1 Million

Editor’s comment:Hayes has a way with words, and has been criticized for being sensational in the past. However, a dip to the $50,000 lines up with what many analysts have described citing on-chain metrics, the four-year cycle, macro conditions, and more.

Wintermute Bets $1 Billion on AI and High-Frequency Trading Expansion

Editor’s comment:

Gold Hits 2-Month High Above $4,400 as China Keeps Hoarding

Editor’s comment:

Gold’s outperformance of bitcoin (and the stock market) has been a pain point for investors of risk assets. While impressive, it does feel like it may be getting long in the tooth and that a reversion may be in the cards at some point in the near future.