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Tether, Issuer of USDT, Reports 30% Drop in Profits

USDT stablecoin issuer Tether released its Q2 2023 certification report on July 31, and according to the report, Tether posted an “operating profit” of $1 billion in the second quarter, down of approximately 30 times.% of first-quarter earnings of $1.48 billion. While its $1 billion “operating income” is down from Q1, there is a 30%…

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Gaining speed on tokenization is vital for the UK’s financial future, warns a banking group

UK Finance says it’s not too late for the UK to catch up with other jurisdictions’ quicker start to tokenizing securities, and it better do so if it wants to remain a global financial leader. Advocacy group UK Finance is urging the British government to encourage the tokenization of securities. The market is small now,…

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Bitcoin Depot on Nasdaq

The acquisition deal for the special-purpose company, first reported in August 2022, cost $885 million and is expected to allow investor exposure to Bitcoin Depot common stock. Bitcoin Depot, one of the largest cryptocurrency ATM companies in the United States, has announced the closing of a merger agreement allowing the company to go public. In…

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Coinbase Insiders, Including the CEO, Used Insider Trading to Avoid $1 Billion Losses

A Coinbase insider recently filed a new lawsuit naming Coinbase (NASDAQ:COIN) insiders, including chairman and CEO Brian Armstrong, for using insider trading to avoid losses of $1 billion during the public listing of the shares two years ago. . The investor filed the complaint on Monday, May 1, in the Delaware Chancery Court. Furthermore, the…

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Ethereum price is vulnerable to further losses if it dips below $1,920

Ethereum price extended its decline below $1,920 against the US Dollar. ETH may continue to fall if it breaks the $1,820 support zone. Ethereum price turns red Ethereum price gained bearish momentum after breaking below the $2,000 support. ETH extended its decline below the $1,950 and $1,920 support levels, similar to Bitcoin. The bears even…

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Fidelity expands its BTC and ETH trading to most retail accounts

Amidst a severe banking crisis, Fidelity Investments opened access to bitcoin and ether trading to all of its retail traders. Amid several bank closures recently, Fidelity Investments stepped in to fill the void created by crypto-friendly banks to bridge the gap between digital and traditional funding. Previously, the Fidelity Crypto platform was only available to…

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Argentina’s Central Bank to issue a new 2,000 peso note as inflation continues to rise

The Central Bank of Argentina has announced the issuance of a new 2,000 peso note, with the aim of alleviating the burden of using cash for payments in the country. The bill, which will be worth just over $5 USD blue (the informal exchange rate), is already being criticized as an insufficient measure. Central Bank…

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Bitcoin ATM locations increase 28% in Canada

While downward trends in cryptocurrency prices have affected the growth of the industry, cryptocurrency-related developments continue to make headlines almost daily. This time, the North American country Canada has seen a huge increase in the installation of Bitcoin ATMs. According to statistics provided by Coin ATM Radar, Bitcoin ATM locations in Canada have increased by…

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Tether condemns ‘false information’ and denies holding any Chinese trading paper in new statement

Stablecoin issuer Tether wants to debunk rumors that they hold Chinese commercial paper as backing for (USDT) In a new statement from the company, Tether says it does not hold any Chinese paper and such “false information” is a threat to the industry. The company also says it plans to reduce its total commercial paper…