Category: CryptoX News

Tether profits hit $5.2b in H1 2024, new record

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)…

Riot buys 10.23m more Bitfarms shares in July, increasing stake to 15.9%

Riot Platforms has increased its acquisition efforts of Bitfarms by buying over 10 million more shares this month. According to a filing with the US Securities and Exchange Commission on July 31, Riot, a Bitcoin (BTC) mining company, now owns 71.56 million Bitfarms shares, valued at $159.1 million. This means Riot now holds a 15.9% stake in Bitfarms. According to the SEC filing, Riot purchased Bitfarms shares throughout the month of July, ranging from $2.48 to $2.84 per share. Riot has an earnings call after trading hours on July 31.…

Ethereum ETFs Snap Losing Streak, Grayscale’s Outflows Weigh In

On Tuesday, U.S. spot ether exchange-traded funds (ETFs) experienced a day of inflows, ending four days of outflows. The nine ETFs collectively absorbed $33.67 million, though the figure could have been higher if not for Grayscale’s Ethereum Trust (ETHE), which offloaded $120.28 million. Ether ETFs Bounce Back After 4-Day Outflows The ether-based ETFs in the […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Japanese crypto exchange Bitbank eyes IPO on Tokyo Stock Exchange

Crypto exchange Bitbank is gearing up for an initial public offering on the Tokyo Stock Exchange, becoming the second Japanese crypto exchange to seek regulatory approval to go public. Bitbank Inc., a Japanese crypto trading platform, is seeking to go public as part of its strategy to expand its market presence and capitalize on the growing interest in digital assets in Japan. According to a regulatory filing published today, July 31, the trading firm wants to go public on the Tokyo Stock Exchange, although the timing and specifics of the…

Russian Diplomat: El Salvador Proposes Settling Trade With Crypto

El Salvador has proposed using cryptocurrency as an alternative payment method for trade with Russia. The Central American nation has reportedly expressed interest in joining the BRICS bloc and may formally apply for membership within one or two years. Ukraine-Russia Conflict Echoes in Central America El Salvador has proposed settling trade with Russia using cryptocurrency, […] Source CryptoX Portal

Ether ETFs Break Four-Day Outflow Streak, Bitcoin ETFs Record $18M Outflows

CryptoX is a multi-platform publisher of news and information. CryptoXtrade has earned a reputation as the leading provider of cryptocurrency news and cryptomarket analysis, bitcoin and other cryptocurrencies, blockchain technology, finance and investments. CryptoXtrade have become a known leader in the cryptocurrency information market. We work only with trusted information sources providing latest financial and technological innovations that improves the quality of life of CryptoX readers by focusing on Cryptocurrency and Blockchain. CryptoX Portal