Project Progress

Tether has hired KPMG for its first comprehensive audit of USDT's financial reports and is collaborating with PwC to enhance internal systems. This follows years of periodic reserve reports from BDO Italia, aiming for major fundraising and expansion in the U.S. under new legal frameworks. USDT, the largest stablecoin, has a circulating supply of about $185 billion.

The cryptocurrency market has lost more than $200 billion in total capitalization over the past few days. This comes on the back of a 7% drop in Bitcoin’s price, which also dragged down most altcoins. Ripple’s XRP is no exception. XRP Price Shaky Amid Global

Tether hired KPMG to carry out a comprehensive audit of USDT, and worked with PwC to optimize its financial processes—an important step in improving financial transparency. This move comes as the company prepares to enter the U.S. market and for a new round of fundraising. Despite the many past questions about its reserves, Tether still plans to raise funds from the market and has shifted toward allocating more of its investments to short-term U.S. Treasuries.

STS Digital Introduces Structured Crypto Platform STS Digital launched a structured products platform for digital assets, targeting institutional clients. The firm announced that Kraken joined as its first distribution partner. The platform enables access to options-based strategies through

Ripple Labs is testing a stablecoin payment system on the XRP Ledger, signaling potential real-world adoption and increasing cross-border payment activity. This test aligns with XRPL upgrades and aims to enhance security using AI, with the goal of boosting institutional confidence and expanding market presence as Ripple pursues retail solutions in finance.

On March 27, Bifrost launched SLPx Skill, the first AI-native multi-chain liquidity staking interface, supporting four EVM chains including Ethereum. Users can interact with the AI system through a smart Agent to achieve ETH staking and redemption, ensuring private key security and providing open-source compatibility.

Ripple announced that it will fully roll out artificial intelligence security technologies across the XRP Ledger to detect and fix vulnerabilities and raise security standards. The plan includes adversarial code scanning, threat modeling, and more. Multiple low-severity vulnerabilities have already been identified and fixed. In addition, the codebase will be modernized to strengthen collaboration and transparency, along with the introduction of stricter security requirements and an expanded bug bounty program. This set of measures is intended to ensure XRPL’s long-term stability and trustworthiness and attract more institutions to participate.

Cardano's ecosystem has made progress, with Midnight reaching an agreement with the UK bank Monument to tokenize £250 million in deposits on-chain. This marks a new step in the integration of traditional finance and blockchain, while also promoting the development of tokenized assets. However, Cardano still faces challenges in the DeFi space, and the ecosystem's activity level needs to be improved.

The integration of LayerZero and Canton Network allows tokenized assets to flow across 165 public chains, facilitating the entry of traditional finance into the crypto liquidity system. This move addresses privacy and compliance issues in cross-chain asset movement, while also promoting the fusion of institutional-level blockchain and public chain ecosystems, marking an intensification of competition in cross-chain interoperability.

The price of Bittensor (TAO) doubled to $330 in March 2026, with its strong performance linked to the expansion of decentralized AI network subnets, increasing from 80 to over 120, and a market capitalization exceeding $1.4 billion. The activity levels of subnet 3 and Chutes have increased, drawing market attention to their technical and commercialization capabilities. In terms of infrastructure, Manifold Labs and Intel jointly released a technical white paper, further promoting institutional participation and shifting market focus towards the subnet ecosystem.

Pi Network will advance the mainnet's second phase migration after Pi Day in 2026, with over 119,000 users participating. This upgrade allows users who have completed KYC verification to transfer referral rewards, accelerating identity verification. The system calculates mining and referral data one by one to ensure fair distribution. Users must enable two-factor authentication to transfer assets. The platform is also expanding application scenarios, shifting its focus from user growth to ecosystem development.

Tether has hired KPMG for a comprehensive audit of its $184 billion USDT stablecoin, along with PwC to prepare for the process. This comes amid plans to register USDT under the GENIUS Act, addressing transparency concerns over its reserves.

On March 27, the Web3 social project UXLINK announced an ecological strategy upgrade, launching UX Agent and an AI social network, combining social growth layers with AI technology to achieve content optimization and automation. The new model will adjust the token economy through community voting, aiming to build an intelligent social network where humans and AI coexist, protecting the interests of existing users.

Backpack exchange founder Armani Ferrante recently responded to community concerns regarding OTC cashing out, unfair treatment of Mad Lads NFT, witch hunts, and FDV. He denied the cashing out accusations, acknowledged that the witch hunt execution was overly simplified, and emphasized that the tokenomics design prioritizes long-term success. Regarding the community's disappointment, Ferrante stated that compensation measures will be implemented.

Aave has proposed a governance proposal to allocate 100% of all product revenue to the DAO, attracting market attention. This proposal emphasizes the value distribution of "protocol as community" and commits to future development centered around the Aave ecosystem, while introducing a quarterly reporting mechanism to enhance transparency. If approved by voting, Aave could become a DeFi protocol with prominent community-driven characteristics.

WHITEWHALE plummeted over 55% in a short period, with its market cap dropping to less than $15 million, due to uncertainty in the market triggered by the announcement of a key promoter's exit. The surge in trading volume indicates panic selling, significantly highlighting the risks associated with the project's reliance on a single core individual. This incident underscores the fragility of liquidity and consensus in the meme coin market, and investors need to pay attention to project governance and the stability of participants.

Backpack founder Armani Ferrante clarified several issues regarding recent concerns, emphasizing that the company has not engaged in over-the-counter trading of modern coins, long-term holders will enjoy VIP status, protecting retail users is the goal, short-term price fluctuations are irrelevant, and the commitment to a long-term development vision remains firm.

Backpack founder Armani Ferrante addressed community concerns on social media, clarifying that the team did not cash out via OTC trading, outlined holder rights arrangements, introduced a new witch review and handling approach, and emphasized that token performance is closely tied to the team’s interests—while pushing forward related work and product development.

The Web3 social infrastructure project UXLINK has announced an ecological strategy upgrade, launching UXLINK Agent and AI social networks. The new technology will support content optimization and intelligent retrieval, driving social account growth. The business model and token economics will also be adjusted to ensure community members share in the dividends of the AI era.

Trust Wallet is accelerating its expansion into the AI field by launching the Trust Wallet Agent Kit, which allows authorized AI agents to perform on-chain operations on behalf of users, transforming crypto wallets from "storage tools" into "smart execution gateways." This tool supports a multi-chain ecosystem, enhancing the automated decision-making capabilities of Web3 applications, enabling users to set strategies for automatic execution by the system. In the future, an agent marketplace will be launched to further promote the platformization of the wallet ecosystem.