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ChainCatcher live report: Tether CEO Paolo Ardoino, Paxos founder and CEO Charles Cascarilla, and Dragonfly General Partner Rob Hadick jointly attended the TOKEN 2049 conference and participated in the panel discussion "Stablecoins and the 100 Billion Dollar Payment Transformation." During the event, Paolo Ardoino stated that USDT already has 500 million users in emerging markets, with 35% using it as a savings account. 60-70% of USDT transactions involve only the stablecoin itself, indicating that it has moved beyond the realm of pure cryptocurrency to become an independent form of currency. In regions with unstable currencies such as Turkey, Argentina, and Vietnam, where local currencies depreciate by as much as 50-60% annually, stablecoins provide financial stability for billions of people who cannot access US dollars. Charles Cascarilla pointed out that the industry has undergone a key transformation over the past 18 months: the peak of inflation has prompted stablecoins to be used outside the crypto circle; the US government's attitude has shifted from regulatory resistance to acceptance; and the passage of the GENIUS Act has established a clear legal framework, setting a global standard. "Eight years ago, people were still asking what the business model for stablecoins was. Now, every institution involved in cross-border dollar transfers is thinking about how to use them." Rob Hadick revealed that about 10% of remittances from the US to India and the US to Mexico already use stablecoins, and this $20 trillion market is eight times the size of the crypto market. "Small and medium-sized enterprises are poorly served by traditional banks; they need frictionless capital flows." Dragonfly's investment strategy focuses on excelling in the 'last mile'—companies that solve compliance issues and face consumers directly, rather than just being API aggregation intermediaries. Finally, Paolo said that profits in 2024 reached $30 billion, with even higher expectations for 2025. There are currently financing plans, but not due to a lack of funds. The most eye-catching initiative is the African electricity plan: the goal is to establish a decentralized power system by 2030-2031, setting up solar charging stations in villages (equipped with 300 rechargeable batteries), with a $3 monthly subscription allowing battery exchange four times a month. Currently, 500 stations have been built, serving 500,000 users, with plans to expand to 100,000-150,000 stations. "From space, Africa will no longer be dark at night, and this will create a huge economy around USDT." Other expansion areas include peer-to-peer AI, telecommunications, and social media. Paolo made it clear that there are currently no IPO plans.

ChainCatcher news, according to Golden Ten Data, US stock index futures fell after Congress failed to reach an agreement on a spending plan, forcing a government shutdown and leaving hundreds of thousands of federal employees unable to work. The government shutdown could disrupt the S&P 500 index's 14% gain this year and may delay the release of key economic data, including the employment report scheduled for Friday. Some analysts said that if the non-farm payroll data is delayed, it will increase the uncertainty caused by the government shutdown, and volatility is expected to rise in the new quarter.