According to the Q1 attestation signed by financial services firm BDO Italia, Tether held about $2.44 billion in excess reserves of the $79.4 billion Tether-issued tokens in circulation as of March 31. That surplus was at an all-time high, Paolo Ardoino, chief technology officer of Tether, said in the announcement. Source
Bitcoin investors’ sentiment improved after signals pointing to lower inflationary pressure suggested that the U.S. Federal Reserve could soon move away from its interest rate increase and quantitative tightening. Commonly known as a pivot, the trend change would benefit risk assets such as cryptocurrencies. On Jan. 22, the China-based peer-to-peer trades of USD Coin (USDC) reached a 3.5% premium versus the United States dollar, indicating moderate FOMO by retail traders. This level is the highest in more than 6 months, suggesting excessive cryptocurrency buying demand has pressured the indicator above…