Tether Investments, the entity established as a separate division from the stablecoin business to manage the company’s growing foray into bitcoin (BTC) mining, artificial intelligence and other investments, has a $6.2 billion net equity value, per the attestation. Source
USDT issuer Tether disclosed net profits of $1.3 billion in the second quarter of the year, adding to the $4.5 billion generated in Q1 to set a new record. Tether’s (USDT) second quarterly attestation reported that the company hit $5.2 billion in net profits for the first half of 2024. According to the press release, which cites BDO-conducted assurance opinions, yield-bearing investments like U.S. Treasuries and reserves have comprised most of Tether’s profits so far. The digital payment giant has also redeployed its balance sheet into investment pools like Bitcoin (BTC)…
In the minutes following the more hawkish than expected statement, bond yields and the dollar rose a bit, but both remained lower for the day. The price of bitcoin (BTC) edged lower to $66,550, but remained modestly higher over the past 24 hours. U.S. stocks remained sharply higher for the session, the Nasdaq up 2.4% and S&P 500 1.6%. Original
Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com,…
The specter of potential enforcement actions against NFT projects has “unleashed a chilling effect over NFT artists across the [U.S.],” according to the complaint. The plaintiffs in the case, conceptual artist and law professor Brian Frye, and musical artist Jonathan Mann, also known as “Song a Day Mann,” are each holding back a ready-to-go NFT project until a court grants them protection from the “credible threat” of a future investigation or litigation by the SEC, which their lawyers claim would be which would be “economically devastating to [their] artistic endeavors.”…
Although crypto history is short, with Bitcoin celebrating its 15th birthday this year, we have already experienced three major cycles: 2011-2013, 2015-2017, and 2019-2021. The short cycle time is not surprising given the crypto market trades 24/7, about five times more than the equity market. The 2011-2013 cycle was predominantly about BTC, as ETH launched in 2015. Analyzing the past two cycles reveals patterns that help us understand the anatomy of a crypto bull market. With the market warming up to the U.S. election and improved liquidity outlook, history might…
There is significant opportunity for TradFi firms to drive meaningful revenue by extending new services to existing clients, as well as crypto native/FinTech firms to offer more institutional-focused capabilities. Those that move quickly will reap the benefits. Of survey respondents, 54% of institutional investors and 64% of retail investors plan to increase allocations, representing a significant upside over current money invested. Institutional investors largely seek a multi-custodian model to manage their digital assets, and beyond custody, want services like connectivity to more liquidity providers, the ability to lend/borrow against their…
The Mt. Gox Trustee sent $2.25 billion in Bitcoin to two BitGo addresses as part of a $9 billion creditor repayment plan. After sending about $3 billion in Bitcoin (BTC) to Kraken and at least $335.8 million to Bitstamp, the defunct crypto exchange Mt. Gox also settled transfers to BitGo on July 31. It was previously unclear where the platform moved funds to as crypto.news reported. However, the Trustee’s emails to users cited on a subreddit dubbed “mtgoxinsolvency” and Akrham intelligence confirmed BitGo was the recipient. Users said BitGo balances…
Former U.S. President Donald Trump announced through a recent post on Truth Social that he is launching a line of Bitcoin-themed sneakers. “Just spoke at the Bitcoin Conference in Nashville, Tennessee on Saturday. It was GREAT! Get your Bitcoin Sneakers now. These are Limited Edition, they are each numbered, and you can now pay with […] Original
Trump recently announced the release of limited edition, Bitcoin-themed sneakers after his pro-crypto speech at Bitcoin 2024. Make shoes great again? Republican presidential candidate Donald Trump is riding his crypto momentum from Bitcoin 2024 and posted about his new limited-edition Bitcoin (BTC) themed sneakers. “Just spoke at the Bitcoin Conference in Nashville, Tennessee on Saturday,” Trump said on Truth Social. “Get your Bitcoin Sneakers now. These are Limited Edition, they are each numbered, and you can now pay with Bitcoin or your favorite Crypto.” ( @realDonaldTrump – Truth Social Post…