Stablecoin issuer Tether has hit back at a Wall Street Journal article that claimed its balance sheet comprised of “unsafe assets.” Source
Stablecoin Tether Dismisses Wall Street Journal's Claim of Inadequate Reserves
Month: August 2022
Ether, Bitcoin Could See Turbulence as Open Interest Leverage Ratio Soars to Record High
“The rising ratio indicates open interest is outpacing market size and increases the risk of volatility,” one researcher said. Original
More Than a Third of Africa’s 53 Million Crypto Owners Are From Nigeria, Study Shows – Africa Bitcoin News
With an estimated 53 million cryptocurrency owners, the African continent now accounts for 16.5% of the global total, a study has found. The study findings suggest that Nigeria, which has more than 22 million crypto owners, currently accounts for more than a third of the continent’s total number of holders. Nigeria Accounts for Over a Third of Africa’s Crypto Owners According to Triple A’s latest crypto ownership data, the African continent now has an estimated 53 million cryptocurrency owners. This constitutes about 16.5% of the estimated global total of 320…
Singapore state investor leads $100M round for crypto firm Animoca: Report
The venture capital market of the cryptocurrency industry is holding strong despite the crypto winter as major government-linked firms reportedly continue betting on big industry players. Singapore state-owned investment firm Temasek is joining a $100 million funding round for the blockchain and venture studio Animoca Brands, Bloomberg reported on Tuesday. According to the report, Temasek will lead Animoca’s financing round through convertible bonds. Both Animoca and Temasek are known for investing in major crypto firms. In March 2022, both companies participated in a $200 million funding round for the Australian…
Founder of Turkish Crypto Exchange Thodex Arrested in Albania
Faruk Fatih Özer’s exchange suddenly went offline last year, and the founder and CEO fled to Albania, leaving almost 400,000 members in the dark and without access to their funds. Users had deposited $2 billion in cryptocurrencies in the exchange, wrote Cumhuriyet, Turkey’s oldest newspaper, on Tuesday. Source
South Korea Must Reverse Ineffective Ban on Crypto ICOs, Central Bank Says
Domestic companies like Terra circumvented the ban by issuing new digital tokens through corporations established overseas and listing those tokens on local exchanges, the central bank said in its report accompanying the Korean translation of the European Union’s Markets in Crypto Assets (MiCA) regulation. Source
Wanted Turkish crypto exchange founder detained in Albania
The saga of the defunct Turkish crypto exchange, Thodex, continues as its fugitive founder is now in custody in Albania. Local law enforcement detained Faruk Fatih Özer in an operation carried out at 05:30 AM (UTC) on Tuesday, Aug. 30, in the country’s capital city Tirana. According to a report by Cointelegraph Turkey, Özer is currently held in custody. After initial questioning, the Turkish embassy in Tirana will be informed by local authorities. Both the Turkish Ministry of Internal Affairs and the Albanian government are working together on the case. Özer…
Focus On African Cryptocurrency Market
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Yellow Card is a cryptocurrency exchange launched in Nigeria in 2018 and since then the company which is both U.S based and Africa-based has spread its footprint in 16 countries in Africa. The company completed a $15-million Series-A funding round in 2021 and CNBC Africa spoke to Munachi Ogueke, Chief Business Officer about their plans for the African market and more. ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version
Blockchain Gaming Platform Xterio Raises $40M Led by Partner FunPlus
“Today, there’s no mass-market, fun, high-quality, high-fidelity game that incorporates Web3 and digital ownership in a meaningful way,” Xterio co-founder and COO Jeremy Horn told CoinDesk in an interview. “When you look at our executive team, we’re very proven hitmakers … who have worked on games that have generated billions of dollars in revenue. We know how to make games and we’re going to put fun at the center of our releases.” Source link
Fireblocks launches Web3 Engine support on Solana
Digital asset custody platform Fireblocks has launched support for Solana, giving its thousands of users access to the developer network’s applications and infrastructure. Beginning Tuesday, Fireblocks users will have direct access to Solana’s various decentralized finance (DeFi) and Web3 applications — a move the company says will directly benefit “alternative asset managers” and “capital market participants.” “Thousands of businesses use Fireblocks to access novel Web3 products and services,” Solana co-founder Anatoly Yakovenko said in a statement. “Starting today, these businesses will immediately have access to the depth and breadth of…