Stablecoins are digital assets designed to maintain a stable value, usually pegged to and backed by the US dollar or equivalent assets. Throwing in GENIUS Act helped clarify how stablecoins are regulated, pushing them from a “crypto side-topic” into mainstream treasury and finance discussions.

My colleague Jeff John Roberts took a deep dive into stablecoins in his recent luck feature article“Crypto giant Tether has $187 billion in assets, big plans for US expansion—and a CEO who warns the West is headed for societal collapse.” Roberts sat down with Paolo Ardoino, CEO of Tether, a crypto firm expected to make $15 billion by 2025.

Tether has acquired more Treasury bills than major economies like South Korea, along with more Bitcoin and gold, according to Roberts. The accumulation of assets has helped Tether use its flagship currency, a dollar-backed stablecoin called USDT, to rewire global financial networks.

As Roberts writes: Tether “dominates the sector, thanks in part to a first-mover advantage that has resulted in USDT becoming the way for millions of people in developing countries to hold dollars. USDT’s market capitalization ($187 billion, as of early January) and daily trading volume exceed all of its stablecoin competitors combined, according to data firm that is not allowed to use CoinMarketCap – Tether’s coin.

“Now, Tether is looking to disrupt more than just finance. In the past two years, it has made significant investments in satellites, data centers, farming, telecommunications, and media.” You can learn more about Tether by read the full article here.

Intuit’s CFO Sandeep Aujla was just one leader who spoke to me leaning on stablecoins in partnership with Circle. I’d love to hear from you about how you use—or carefully consider—them in your businesses.

cheryl Estrada
[email protected]

LeaderBoard-

Tahnil Davis appointed interim CFO of The Trade Desk (NASDAQ: TTD), an independent advertising technology company, effective January 24. The company is conducting a search for a permanent successor. Davis currently serves as the company’s chief accounting officer and has been with The Trade Desk for nearly 11 years. He replaced Alex Kayyal.

Christopher Papa appointed EVP and CFO of Americold Realty Trust, Inc. (NYSE: COLD), a real estate investment trust specializing in temperature-controlled warehouses and logistics. Dad will join the company this Feb. 23. He has nearly 40 years of experience in real estate, accounting, taxation, investor relations and corporate finance. Dad currently serves as EVP and CFO of CenterPoint Properties. His prior experience includes CFO roles at Post Properties and Liberty Property Trust.

Great Deal

KPMG released the “Q4 2025 Pulse in Private Equity” report, which examines the latest data, trends, and outlook for PE dealmaking around the world. According to the report, PE investment in the US will reach about $1.1 trillion in 2025. While investment levels are stable, US PE deal volume will decrease to 8,232 transactions in 2025, from 9,054 deals in 2024.

“In 2025, we see the release of essentially two years of pent-up demand,” KPMG’s US Head of Private Equity Don Zambarano said in a statement. “That leads to clearer rate expectations, narrower valuation gaps, and a return to investor confidence.”

However, he said, that has not yet translated into large numbers. “Most of the capital deployed was accelerated by large funds, and the deals focused on high-value, top-of-the-market opportunities,” Zambarano said.

Going forward, price dynamics will affect the higher end of the market, with higher entry multiples needed to enter into deals, he said. “We’re going to see a lot of competition for those deals—and a lot of club deals,” he added.

deepened

“Why AI Disclosure is Important at Every Level” is an article on Wharton’s business review by Cornelia C. Walther, a visiting scholar at Wharton and director of the global alliance POZE. He argued that hiding the use of AI could destroy trust in the workplace and beyond.

As AI weaves itself into the fabric of professional life, the question of disclosure has changed from a philosophical curiosity to an urgent business imperative, according to Walther.

Heard

“The night sky is a mystery that watches over us all the time. It’s a constant reminder of the bigger questions. I think that’s how I expand…You have to look for patterns in a lot of data, or find the right movement in a lot of possibilities.”

—Demis Hassabis, an AI researcher, neuroscientist, and entrepreneur who serves as co-founder and CEO of Google DeepMind, says luck in an interview.