About 75% of retailers in the United States are reportedly planning to accept cryptocurrency or stablecoin payments within two years, with more than half of large retailers with revenues over $500 million currently spending over $1 million on infrastructure to support the move.

Tether’s USDT stablecoin has been launched on the Tezos blockchain, just days after it expanded into Polygon. The move means Tether’s USDT is now available on 12 blockchains, including Ethereum, Solana, Omni, TRON, Algorand, EOS, Avalanche, and others.

Terraform Labs and its CEO Do Kwon have been ordered to comply with an investigation by the U.S. Securities and Exchange Commission (SEC) related to the mirror Protocol, according to a ruling from the U.S. Court of Appeals for the Second Circuit.

Top stories in the Crypto Roundup today:

• 75% of U.S. Retailers Eyeing Crypto Payments
• Tether’s USDT Stablecoin Launches on Tezos
• Terraform Labs Ordered to Comply With SEC’s Mirror Protocol Investigation
• Crypto Market Movers – CTSI, LINK, XTZ

75% of U.S. Retailers Eyeing Crypto Payments

About 75% of retailers in the United States are reportedly planning to accept cryptocurrency or stablecoin payments within two years, with more than half of large retailers with revenues over $500 million currently spending over $1 million on infrastructure to support the move.

According to Deloitte’s “Merchants Getting Ready For Crypto” report, which was released in a collaboration with PayPal, 85% of surveyed merchants said crypto payments will be ubiquitous in their industries in five years.

The survey polled 2,000 senior executives at U.S. retail organizations late last year, when cryptocurrency prices were far higher. Respondents were distributed equally among various industries including cosmetics, digital goods, electronics, fashion, food and beverage, personal and household goods, and services.

Small to medium enterprises are also moving to adopt cryptocurrencies, with 73% of retailers with revenues between $10 million and $100 million investing up to $1 million in infrastructure to accept cryptoassets.

Consumer interest was found to be behind merchants’ adoption, with 64% of merchants signaling their customers expressed interest in paying with cryptos.

Tether’s USDT Stablecoin Launches on Tezos

Tether’s USDT stablecoin has been launched on the Tezos blockchain, just days after it expanded into Polygon. The move means Tether’s USDT is now available on 12 blockchains, including Ethereum, Solana, Omni, TRON, Algorand, EOS, Avalanche, and others.

Over the past month, USDTs supply plunged by 6 billion as redemptions exploded over UST’s collapse. Tether has said the stablecoin’s launch on Tezos will support its decentralized finance (Defi) ecosystem, which at the time of writing has less than $50 million in total value locked.

While USDT is available across a number of blockchains, it’s mostly used on Ethereum and TRON.

Terraform Labs Ordered to Comply With SEC’s Mirror Protocol Investigation

Terraform Labs and its CEO Do Kwon have been ordered to comply with an investigation by the U.S. Securities and Exchange Commission (SEC) related to the mirror Protocol, according to a ruling from the U.S. Court of Appeals for the Second Circuit.

The SEC is investigating whether Terraform and its CEO were involved in selling unregistered securities through the Mirror Protocol, which allows users to trade cryptoassets representing popular stocks.

In September 2021, the regulator served Do Kwon with papers at a cryptocurrency conference in New York. The CEO of Terraform Labs appealed, saying the SEC violated its own rules when it served Kwon in person, and that the court lacked jurisdiction due to Terraform’s lack of contact with the U.S..

The court overturned both arguments and specifically said that 15% of Mirror Protocol users are based in the country.

Crypto Market Movers – CTSI, LINK, XTZ

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Cartesi (CTSI) - Cartesi provides a Linux runtime environment for scalable blockchain Dapps. Complex and intensive computations run off-chain while retaining the security guarantees of the blockchain.

Chainlink (LINK) - Chainlink is a blockchain-base middleware, acting as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, various web APIs, and traditional bank account payments. This way, Chainlink allows Smart Contracts to communicate with external resources on their own. LINK is an ERC20 token based on the Ethereum blockchain.

Tezos (XTZ) - Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth. It facilitates formal verification, a technique that mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.

State of the Crypto by Top Tier Exchange Volume

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