Tether has acquired a 12% stake in an undisclosed entity for $150 million, aiming to enhance the distribution of its gold-backed stablecoin, XAU₮. This strategic investment is expected to bolster Tether's position in the stablecoin market by expanding its reach and accessibility. In other market developments, the Crypto Fear & Greed Index has plummeted to single digits, indicating heightened market anxiety and potential volatility. Meanwhile, crypto firms are exploring partnerships with community banks to park stablecoin reserves, seeking to navigate the ongoing regulatory challenges in the United States.