Tether announced the upcoming launch of QVAC (QuantumVerse Automatic Computer), a decentralized development platform for locally operating AI agents.
Paolo Ardoino, Tether’s CEO, claimed that the company is aiming for a full launch in Q3 2025. Before this happens, it will also release a few QVAC-based AI apps for general use.
Earlier this month, crypto AI agents staged a massive comeback, and the firm is now revealing its project. Tether’s QVAC is intended to keep the AI space decentralized, empowering individuals to use sophisticated protocols:
A little over a week ago, Tether teased its upcoming peer-to-peer AI platform, which now seems like a reference to QVAC. Ardoino claimed that the company aims for a Q3 2025 release, which may take longer.
Because Tether won’t be fully releasing QVAC for several months at the earliest, there aren’t many details available. However, the company’s statements describe some very ambitious goals.
QVAC will center around AI agents, specifically on developing them for local use. It will use modular architecture to create functional tools that run on personal devices.
Tether was very clear that QVAC’s agents won’t require users to remotely connect with external servers. Even where it employs collaboration, QVAC will focus on peer-to-peer contact with other small-scale developers.
The firm will also launch the first QVAC-based apps “soon,” but it has provided no further details.
This Chinese AI model boasts dramatically lower hardware requirements than its competitors, enabling users to host it locally. DeepSeek can do this for an entire LLM, so Tether hopes to employ QVAC for more niche AI agents.
Hopefully, Tether will continue releasing technical details about QVAC during Q2 before a full launch in Q3. If the company can meet this imposing challenge, it would significantly contribute to global AI development.
SUI has experienced an impressive price rally, rising nearly 20% in just two days. This surge marks the continuation of a near three-week uptrend fueled by rising interest from SUI enthusiasts.
As the market shows growing optimism, the altcoin has caught the attention of investors, setting the stage for further price movement.
SUI Traders Are Hopeful Of Gains
The Open Interest in SUI has surged by 28% in just 48 hours, jumping from $1.42 billion to $1.82 billion. This $400 million increase signals a growing interest in the Futures market, with traders eager to capitalize on the altcoin’s bullish momentum.
The positive funding rate further supports this outlook, indicating that long positions are dominating short positions. This suggests that traders expect the price of SUI to continue rising, contributing to the overall bullish sentiment surrounding the coin.
The rising Open Interest and positive funding rate indicate that more capital is flowing into SUI, reinforcing its position in the market. As more traders take long positions, this momentum could propel the price even further, creating a positive feedback loop.
Technical indicators also support SUI’s overall macro momentum. The Chaikin Money Flow (CMF) is currently at a near four-month high, signaling that inflows are outweighing outflows.
This uptick suggests that investors are actively seeking to capitalize on the rising price of SUI, further driving demand.
As more capital enters the market, SUI’s upward momentum could continue, pushing its price higher. The increase in the CMF reflects the broader market’s positive sentiment and suggests that the altcoin’s rally is supported by strong investor confidence.
SUI’s price has risen by nearly 20% in the last 48 hours, trading at $3.96 at the time of writing. The altcoin is now approaching the key resistance level of $4.05.
Successfully breaching this barrier would help maintain the nearly three-week uptrend and could set the stage for further price gains. This level is crucial for the continuation of the rally.
If SUI manages to flip $4.05 into support, it would open the door to further upward movement. The next potential targets would be $4.79 or even higher, with $5.00 becoming a realistic possibility.
A sustained rally beyond this point would signal strong bullish sentiment and further price appreciation.
However, if SUI fails to breach $4.05 and experiences a reversal, it could drop to $3.59. Losing this support level would indicate a potential weakening of the bullish momentum, with the price potentially falling to $3.18.
If this happens, it would invalidate the current uptrend and shift the market sentiment towards a bearish outlook.
Coinbase signed a deal to acquire the crypto derivatives exchange Deribit for $2.9 billion, signaling the company’s growing interest in the crypto derivatives market.
The exchange will transfer $700 million in cash to Deribit, making the rest of its payment in Class A stock. This may or may not delay the deal’s finalization for a few months.
Four months later, Deribit is willing to accept a much lower offer. It’s unclear what pushed Deribit to move forward with a $2.9 billion offer from Coinbase. After the Kraken deal fell through, the crypto derivatives exchange left Russia due to EU sanctions.
This may have contributed to its lower valuation, but it’s difficult to say for sure. One thing seems evident: Coinbase pursued the deal to expand its presence in the derivatives market.
“With Deribit, Coinbase becomes the #1 global platform for crypto derivatives by open interest and options volume. Deribit brings approximately $30 billion in open interest and $1 trillion+ in trading volume. This is a major step in our global expansion strategy. We’re set to offer unparalleled access to crypto derivatives,” Coinbase claimed on social media.
This partnership with Deribit, however, will allow Coinbase to supercharge these operations.
Meanwhile, Coinbase’s share prices have recovered significantly since Trump’s sweeping tariffs last month. COIN surged over 36% since April, as the exchange prepares its Q1 2025 earnings report later today.
Deribit executives will receive most of their $2.9 billion asking price in Class A stock from Coinbase. The latter firm will pay $700 million in cash, but will otherwise seal the acquisition deal with 11 million shares.
According to the press release, this may delay the proceedings somewhat, but the transaction “is expected to close by year-end.”
Moving forward, Coinbase didn’t specify how it plans to leverage Deribit’s resources for its own expansion plans. Still, the firm’s public statements repeatedly stressed that Deribit is the world leader in crypto derivatives.
By simply taking over its user base and trading volumes, Coinbase has gained many opportunities to take over the spotlight.
Over the last couple of weeks, buzz has been growing about the CLARITY Act, a proposed new framework for US crypto regulation. The bill’s first markup is scheduled for tomorrow morning.
But what is the significance of this new crypto bill, and which industry players support it?
New Act Brings CLARITY To Crypto Regulation
Since the GENIUS Act cleared a key cloture vote, US crypto policy has been an especially important topic. In late May, GOP Congressman French Hill proposed the Digital Asset Market Clarity (CLARITY) Act, a new framework for Web3 regulation.
The bill’s first markup will happen tomorrow morning at 10 AM EST.
NEW: @FinancialCmte has officially scheduled a markup of the crypto market structure bill — the CLARITY Act — for Tuesday, June 10 at 10:00 AM EST alongside a handful of other bills.
The proposed act assigns the CFTC as the primary regulator for digital commodities (on‑chain tokens), including exchanges, brokers, and spot markets. It preserves the SEC’s authority over investment contract assets—securities under the Securities Act.
Overall, it creates precise definitions and compliance pathways to reduce inconsistent enforcement.
In addition to consumer protection measures, it attempts to provide thorough rules for defining tokens as securities or commodities, a thorny issue for regulators.
Without getting into excessive detail, the bill aims to remove ambiguity from several such situations.
Although it was proposed by a Republican, the CLARITY Act has strong bipartisan support, reflecting the desire to create a solid framework for crypto regulation.
However, the initial language focused specifically on assets, their classification, and firms that custody them. The proposed bill also exempts “DeFi activities” (like developers, transaction relayers) from conventional registration.
It also explicitly protects peer-to-peer transactions and individual self-custody of assets.
New and Upcoming Amendments
To correct some of the oversight, The Blockchain Regulatory Certainty Act (BRCA) was recently introduced as an amendment to the bill. Presently, the crypto industry’s political lobbying groups are attempting to help it along.
In addition to an initial show of support, eight leading trade associations have made further statements earlier today:
Crypto Groups Support the CLARITY Act. Source: Eleanor Terrett
Specifically, this amendment would ensure that the CLARITY Act doesn’t apply heavy-handed regulations where it isn’t appropriate.
However, some regulators may also disagree with this overall ethos. After all, what are laws like this for? Former CFTC Chair Tim Massad, who recently warned of crypto corruption, also testified about some potential pitfalls in the CLARITY Act:
“The CLARITY Act seems to start with the technology and ask, what do we need to do to make it easier for people to invest in this technology? But the strength of our securities and derivatives laws lies in the fact that we have traditionally focused on regulatory goals, and provided…the flexibility to achieve those goals,” Massad claimed.
It’s not yet clear how much this will impact the final bill, but the GENIUS Act underwent substantial amendments from its first version. Between tomorrow’s markup and the voting process, this bill could change dramatically in the next few weeks.
(@paoloardoino) May 14, 2025
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