October 2nd 2026, 1:21 PM
Bitcoin Stablecoin Returns to Anchor After 12 Years
Key Summary
Key crypto market updates of the October 2 morning: BTC hits $86,600 after Jobs report, USDT launches on Bitcoin, and SEC/CFTC draft joint rules.
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Key Updates
The USDT stablecoin has returned to being backed by Bitcoin after a 12-year hiatus.
Regulatory Developments
The recent job market report and draft joint rules from the SEC and CFTC have contributed to this development.
Market Impact
The news has led to a surge in Bitcoin prices to $86,600, with the USDT launch on Bitcoin also sparking interest.
Background
The USDT was initially launched in 2014 as a stablecoin pegged to the US dollar, but it lost its backing to Bitcoin in 2012.
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