Gold-Backed Stablecoins Will Surpass USD Stablecoins, Says Max Keiser
Financial commentator Max Keiser predicts that gold-backed stablecoins will soon overtake USD-backed stablecoins in popularity and market adoption. This statement comes amid significant developments in the crypto industry, including Pakistan’s new crypto initiatives and Tether’s move toward a full financial audit.
Key Highlights:
- Max Keiser forecasts gold-backed stablecoins surpassing USD-backed stablecoins.
- Pakistan’s Crypto Council proposes Bitcoin mining using excess energy.
- Crypto markets face continued pressure from global trade tensions until April.
- Tether seeks a Big Four accounting firm for its first comprehensive financial audit.
Pakistan Crypto Council Proposes Bitcoin Mining with Excess Energy
The newly formed Crypto Council of Pakistan has proposed mining Bitcoin using surplus, runoff energy. This proposal was presented during the council’s inaugural meeting on March 21, attended by key officials including the governor of the Bank of Pakistan and the chairman of the Securities and Exchange Commission of Pakistan (SECP).
Bilal bin Saqib, CEO of Pakistan’s Crypto Council, emphasized the country’s potential in blockchain finance, highlighting Pakistan’s young population and web3-ready workforce. This marks a significant shift from Pakistan’s previous restrictive stance on cryptocurrencies.
Crypto Markets Under Pressure from Trade Wars Until April
Crypto markets are expected to remain under pressure due to ongoing global trade tensions, according to Nicolai Sondergaard, a research analyst at Nansen. He predicts that uncertainty surrounding reciprocal tariffs, set to take effect on April 2, will continue to impact market sentiment negatively until resolved.
However, Sondergaard anticipates a potential positive market catalyst once tariff-related concerns are addressed, possibly between April and July.
Tether Engages Big Four Firm for Comprehensive Financial Audit
Tether, the issuer of the USDT stablecoin, is reportedly in discussions with a Big Four accounting firm to conduct its first full financial audit. CEO Paolo Ardoino stated that the audit process would be facilitated by the pro-crypto stance of U.S. President Donald Trump.
This move follows industry concerns regarding Tether’s lack of comprehensive third-party audits, raising fears of potential liquidity issues. Ardoino emphasized that securing a full audit is now Tether’s top priority, although he did not specify which Big Four firm—PwC, EY, Deloitte, or KPMG—would be involved.
