Day: May 17, 2023

Tether shifts investment focus to Bitcoin

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tether International Limited (Tether), the manager of the popular stablecoin, has unveiled a new investment strategy for its reserves portfolio. The company will allocate a portion of its net realized operating profits, up to 15%, towards acquiring bitcoin (BTC) on a regular basis. Holding steady at third In a statement released on May 17, Tether outlined its investment approach, emphasizing its focus on utilizing realized profits.  The company made it clear that any unrealized capital gains…

Harvard Business Review: Alchemy Pay, Crypto Payment Ecosystem Pioneer

Introduction. When we discuss the future of the digital economy and real life in the next generation of the Internet, we are inevitably talking about Web 3.0. The future is unknown, but we have seen some tech companies already exploring and deepening on their tracks, such as Alchemy Pay, mentioned in this article. We will analyze the targeted strategies and measures it has taken in the crypto payment space, taking into account the company’s sustainable long-term goals while building a rich crypto payment ecosystem that is prepared for the Web…

What Does the Debt Limit Showdown Mean for Bitcoin?

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A default is, again, a remote possibility. But its potential impact is so huge, even that slim chance is already being reflected in markets. The yield on 10-year and 30-year U.S. Treasury bonds is already inching up, reflecting increased risk of holding them. The Dow Jones Industrial Average and bitcoin have both limped downwards over the past two weeks, though other uncertainties in the market make it hard to connect those moves directly to the debt showdown. Original

Calls for Restoring UPI Access for Crypto Exchanges Reach Indian Authorities

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The Indian government and central bank have gotten proposals requesting the restoration of access to the Unified Payments Interface (UPI) for the cryptocurrency industry, CoinDesk reports, citing sources familiar with the matter. The proposals have been made independently, with two already submitted and a third expected in the coming weeks from the newly formed crypto policy advocacy group, the Bharat Web3 Association (BWA). These proposals mark the first major effort by India’s crypto stakeholders to seek policy changes governing the industry since it faced challenges such as harsh taxes, a…

China’s Top Prosecution Agency Warns NFT Users of Possible Economic Exploitation via Price Manipulation

Coinspeaker China’s Top Prosecution Agency Warns NFT Users of Possible Economic Exploitation via Price Manipulation The Chinese government has pushed the country to digital economy adoption post-Covid-19 global pandemic. The country has significantly rolled out the digital yuan in anticipation to widen the adoption of its currency as a global reserve. The digital Yuan is expected to significantly help improve the overall liquidity of cryptocurrencies in the Asian continent. Moreover, Hong Kong is preparing to adopt crypto-friendly regulations next month, which has significantly attracted Chinese banks to invest in crypto…

Investors Track Pepecoin (PEPE) Whales Amid Meme Coin Mania as Bitcoin (BTC), Ether (ETH) Stagnate

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This wasn’t the only example. Bizarrely named meme tokens like RIBBIT, BOB, JEFF and WEN all experienced massive spikes in volume over the weekend. Amid this rush into meme coins, overall volume on Uniswap’s decentralized exchange surged to $150 million an hour at numerous points on Saturday, way up from the typical $16 million to $30 million, according to Dune Analytics. Original

USDT Issuer Tether to Enhance Reserves via Regular Bitcoin Purchase

Stablecoin issuer Tether has announced plans to purchase Bitcoin with 15% of realized operating profits routinely. Tether International Limited (Tether) seeks to further consolidate its reserves by purchasing Bitcoin (BTC) with its operating profits. An official post states that beginning this month, the stablecoin company will regularly allocate up to 15% of its realized net operating gains toward BTC purchases. The report also states that Tether does not see current and future BTC holdings in its reserves exceeding the Shareholder Capital Cushion. Thus, the stablecoin issuer seeks to consolidate, grow and diversify its…

Telegram Defends Its Security Architecture amid macOS Camera Exploit Risk

Telegram has implemented various security features to enhance user privacy and data protection. Popular messaging app Telegram has addressed a recent camera and security exploit that could allow attackers to gain control of a macOS device’s camera. A spokesperson for Telegram Remi Vaughn mentioned that Telegram users are not at risk by default because the exploit requires malware to be installed on the system. Notably, Software engineer Dan Revah drew attention to this exploit in a blog post on May 15. In the post, Revah claimed to have gained local…

Bitcoin on-chain metrics suggest an early bull market

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Developments like the introduction of bitcoin-based smart contracts and other key on-chain metrics suggest the global cryptocurrency market is in the early stages of another bull cycle, according to Bitfinex analysts.  Bitcoin network activity and transaction fees Despite the current decline in the bitcoin price (BTC), network activity remains robust, fueled by BRC-20-related transactions. Bitfinex analysts have revealed via the latest Bitfinex Alpha Report that BTC transaction fees have skyrocketed, partly due to increased activity in…