Daily Brief: January 28, 2026
Crypto Shifts: Tether's US Move, Quantum Race, Job Boom
TL;DR: Tether's new USAT stablecoin enters the US market, aiming for regulatory compliance and challenging USDC's dominance. Meanwhile, the rise of quantum computing pushes giants like Ethereum and Coinbase to bolster blockchain security. Stablecoins threaten US regional banks, potentially shifting $500 billion in deposits. Hyperliquid's HIP-3 advances commodities trading, while Bitcoin's job market sees non-tech roles boom, reflecting industry maturity and broader interest.
Market Overview
Today, Bitcoin ticked up to $89,166, showing a modest gain and breaking above short-term resistance, though long-term trends remain bearish. Ethereum saw a more notable climb, closing at $3,023 with a 3% daily gain, adding to a 7% rise over two days, signaling a lively market. Despite these moves, the total market cap rose to $3.11 trillion, but still lags below its long-term average, reflecting a market in limbo. Sentiment remains neutral as the market seems undecided, balancing short-term optimism with longer-term caution.
🇺🇸 Tether's USAT: A New Player in the US Stablecoin Arena
Tether has introduced USAT, a stablecoin designed to meet US regulatory standards under the GENIUS Act. Issued by Anchorage Digital Bank, USAT is Tether's first stablecoin tailored for the US market, aiming to compete with Circle's USDC. This move marks Tether's strategic shift towards regulatory compliance, offering a federally regulated digital dollar.
The launch of USAT is backed by significant financial resources, with Tether partnering with Cantor Fitzgerald to enhance institutional appeal. The goal is to rapidly scale USAT, targeting a $1 trillion market cap in five years. This positions Tether to challenge USDC's dominance, which has thrived without serious competition until now.
USAT is available on major exchanges like Kraken and Crypto.com, providing US users with a compliant digital dollar option. The stablecoin reflects a growing trend of regulatory compliance in the crypto space, offering a trusted alternative for US institutions. Market reactions suggest a positive reception for this regulated stablecoin.
Why it matters: The launch of USAT highlights the increasing importance of regulatory compliance in the crypto space, potentially reshaping the stablecoin market and influencing institutional adoption.
🔐 Quantum Computing Sparks Crypto Security Race
Quantum computing is no longer just a sci-fi concept; it's a looming reality that could upend blockchain security. Major players like Coinbase, Ethereum, and Optimism are gearing up for this challenge. Coinbase has set up a quantum advisory board, signaling its commitment to future-proofing its systems against potential quantum threats.
Ethereum is already 20% of the way toward becoming quantum-resistant, according to the Ethereum Foundation. They've formed a dedicated team to ensure the blockchain's resilience against quantum attacks. This proactive approach contrasts with Bitcoin's slower pace, as its decentralized nature complicates coordinated upgrades.
Coinbase CEO Brian Armstrong emphasizes the importance of preparing for future threats, even those years away. The company's roadmap includes updates to Bitcoin address handling and key management systems. This move might set a precedent for others in the crypto space to follow, highlighting a growing awareness of quantum computing's disruptive potential.
Why it matters: As quantum computing advances, the crypto industry's ability to adapt will determine the security and trustworthiness of digital assets, influencing investor confidence and market stability.
💰 Stablecoins Pose a Challenge to US Regional Banks
Stablecoins are increasingly seen as a significant threat to US regional banks. Analysts from Standard Chartered suggest that up to $500 billion could shift from traditional bank deposits to stablecoins by 2028. This shift is particularly concerning for regional banks that rely heavily on deposit-driven income.
The growing market cap of stablecoins, currently at $301.4 billion, is attracting deposits away from traditional banks. This trend is exacerbated by regulatory uncertainties, such as the delay of the US CLARITY Act. Without clear regulations, banks face challenges in adapting to the rise of digital assets.
Regional banks are more vulnerable than their larger counterparts because they depend more on interest income. As stablecoins gain traction, these banks could see a significant erosion of their net interest margins, forcing them to reassess their strategies in a rapidly changing financial landscape.
Why it matters: The shift to stablecoins could reshape the financial landscape, posing risks to regional banks and highlighting the need for regulatory clarity.
📈 Hyperliquid's HIP-3 Boosts Commodities Trading
Hyperliquid is making waves in the crypto world with its HIP-3 perpetuals, driving a surge in commodities trading. Silver, in particular, has seen a massive uptick, with trading volumes nearing $1 billion in just 24 hours. This shift suggests traders are looking beyond traditional crypto assets like Bitcoin, which has been relatively stagnant.
The introduction of HIP-3 has enabled users to create new perpetual futures markets by staking HYPE tokens. This development has led to a record open interest of $790 million, highlighting the growing demand for decentralized finance solutions. The platform's strategy to enhance market accessibility and liquidity is paying off, with $25 billion in trading volume since the launch of HIP-3.
The increased trading activity has also boosted the HYPE token, which saw a 24% surge. This is part of a feedback loop where trading revenue is used to buy back HYPE tokens, potentially increasing their value. Hyperliquid's focus on commodities like silver positions it as a key player in the evolving crypto market, offering diversification beyond traditional digital assets.
Why it matters: Hyperliquid's success with HIP-3 perpetuals highlights a shift towards commodities in crypto trading, which could redefine market dynamics and enhance stability.
📈 Bitcoin Job Market Sees Non-Tech Boom
In 2025, Bitcoin job listings surged by 6%, with a notable rise in non-technical roles. Of the 1,801 positions available, 74% were non-developer roles, showing a shift in hiring trends. Companies are looking for candidates who understand Bitcoin culture and values.
The U.S. remains the leader in Bitcoin job opportunities, but Singapore is catching up fast, with a 158% increase in job postings. This growth is driven by a major employer expanding in the region, highlighting Asia's rising influence in the crypto sector.
Employers are now valuing practical experience and community engagement over formal qualifications. This reflects a maturing market where understanding the Bitcoin community ecosystem is key. It's not just about coding anymore; it's about being part of the community.
Why it matters: The shift towards non-technical roles in Bitcoin highlights a maturing industry that values community engagement and practical skills, indicating broader institutional interest.
