Peter Thiel-backed unicorn Ramp rolls out $0 conversions between USDT and dollars across product suite
The Block·60-word summary·1 min read
Peter Thiel-backed Ramp has introduced support for Ethereum, Solana, and Plasma-issued USDT tokens across its platform. This expansion allows users to convert between USDT and dollars seamlessly, enhancing liquidity and usability for DeFi and crypto traders. The move aims to strengthen stablecoin integrations and facilitate broader adoption of digital assets in financial services.
Coinbase has warned that proof-of-stake chains like Ethereum and Solana could face quantum risks, as validator signatures and wallet cryptography may become vulnerable if future quantum computers break current encryption. The advisory highlights potential security concerns, emphasizing the need for blockchain projects to prepare for advancements in quantum computing that could compromise cryptographic protections.
Peter Thiel-backed Ramp has added zero-fee USDT and USD swaps across its platform, now supporting Ethereum, Solana, and Plasma-issued USDT. The company, valued at $32 billion in November 2025 after a $300 million funding round, previously integrated USDC before expanding to Tether’s USDT. This move enhances seamless, fee-free 1:1 USD and USDT conversions for users.
Ethereum is trading at $2,307, up 0.17% in 24 hours, with trading volume dropping nearly 19.5% below $16 billion. Despite the slight price increase, on-chain data indicates weak demand, raising concerns about the sustainability of the current recovery. The market remains cautious as ETH attempts to rebound from recent lows.
Ethereum's open interest in derivatives markets dropped by over 2 billion dollars in seven days, indicating significant trader sentiment decline. The sharp decrease suggests potential capitulation or a consolidation phase, with some signals hinting at a possible rebound. The market's recent downturn reflects increased closed positions and cautious trading activity, raising questions about future price movements.
USDT is now live on Solana, Plasma, and Ethereum, offering seamless 1:1 USD onramps and offramps through Privy and Ramp. This expansion enhances stablecoin access and facilitates global money movement across these blockchain networks, providing users with more flexible and efficient options for USD conversion and transfer. The rollout aims to improve liquidity and usability in the Web3 ecosystem.
Optimism, a layer-2 Ethereum scaling solution, announced plans to enhance its privacy features, marking a significant development for enterprise adoption on Ethereum. The company aims to expand its privacy offerings to other blockchains, signaling a broader push for privacy-focused solutions in the Web3 ecosystem. The move is seen as a turning point for enterprise use cases on Ethereum.
