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Authorities order South Korean crypto platforms to maintain reserves
28.8.2023
Crypto exchange platforms in South Korea have been instructed by relevant authorities to maintain reserves with Korean banks. This pertains to the intention of the government to protect those who are venturing out on the path to build a portfolio with digital tokens. Per the instructions, crypto...
Report Reveals East Is Challenging West’s Long-Standing Gold Pricing Dominance
27.8.2023
A new report unveils a surge in gold acquisitions by Eastern nations, challenging the West’s long-standing dominance in gold pricing and altering the power equation in the global arena. Research Highlights East’s Rise as Challenger to West’s Gold Pricing Tradition In...
Brazil Proposes Plan to Settle Bilateral Trade With Argentina in Chinese Yuan
26.8.2023
The government of Brazil has formally presented a proposal to Argentina to settle bilateral trade transactions in the Chinese yuan. The proposal, which would leverage resources in the Chinese credit swap line, aims to maintain trade between the countries and secure the payment of Brazilian...
Tether Reserves Report: USDT Maintains Dominance With $86.1 Billion Market Cap, Over 100% Reserve-Backed
25.8.2023
Stablecoin issuer Tether posts its total market capitalization at $86.1 billion as it maintains its leading market share despite growing competition and uncertain regulatory conditions.
In the company’s reserve report, while total assets stood at $86.1 billion, its liabilities amounted to $82.8...
Tether Reserves Report: USDT Maintains Dominance With $86.1 Billion Total Assets, Over 100% Reserve-Backed
25.8.2023
Stablecoin issuer Tether posts its total assets at $86.1 billion as it maintains its leading market share despite growing competition and uncertain regulatory conditions.
In the company’s reserve report, while total assets stood at $86.1 billion, its liabilities amounted to $82.8 billion....
Chinese Yuan Not Serious Threat to US Dollar Hegemony, Says Economist
23.8.2023
An economist has dismissed the Chinese yuan as a significant threat to the U.S. dollar’s dominance. “The Chinese renminbi, which accounts for less than 3% of global reserves, is not a serious threat to dollar hegemony,” he asserted, adding that “many commentators have...
Coinbase Acquires Equity Stake in Circle; Companies Reshape USDC’s Future
22.8.2023
In a joint statement, Jeremy Allaire, CEO of Circle, and Brian Armstrong, CEO of Coinbase, announced the dissolution of the Centre Consortium. Consequently, Circle will take exclusive charge of the issuance and governance of USDC. Additionally, Coinbase has acquired an equity stake in Circle while...
IEA Report: Oil Prices on the Brink of Soaring as Supply Narrows and Demand Shatters Records
12.8.2023
The stage is set for a potentially striking upswing in global oil prices, as supply constricts and demand ascends to unprecedented levels. With oil reserves dwindling at a breakneck pace, OPEC’s spare capacity restrained, and powerhouse consumers like China and India snapping up record...
Are Reports Linking the 11th Largest BTC Wallet to Tether a Myth? Cryptoquant Analysis Reveals Discrepancies
10.8.2023
In the wake of recent claims that Tether, the company behind leading stablecoin USDT, holds the 11th largest bitcoin (BTC) wallet, Cryptoquant, a blockchain intelligence firm, has expressed skepticism. Citing inconsistencies in onchain data, Cryptoquant has questioned the authenticity of...
Binance drops majority of USD Coin reserves — Latest USDC news
9.8.2023
This week’s episode of The Market Report explores the reasons why Binance let go of a majority of its USDC reserves and what it replaced them with
Analyst Discusses US-BRICS Power Shift — Warns of Dollar Dominance Ending
9.8.2023
A think tank analyst says the U.S. dollar’s dominance may be coming to an end as countries position themselves for a new international system. “As the reliance on U.S. dollars diminishes, central banks will begin dumping their dollar reserves. This will result in hyperinflation, a spike...
Binance Sale of USDC for BTC and ETH Raises Fresh Concerns In Latest Proof-of-Reserves Report
8.8.2023
Binance's latest proof-of-reserves (PoR) report has come under scrutiny following its depleting USDC reserves after the collapse of Silvergate Bank.
The report released on Aug 1 to show transparency in the exchange’s dealings with user assets has sparked arguments across social media spaces...
Central Banks Resumed Gold Purchases in June
8.8.2023
Central banks ramped up gold purchases in June, according to statistics from the International Monetary Fund (IMF). In this period, central banks added 55 tonnes of gold to their reserves after three months of net selling, with China purchasing the most gold (21 tonnes). Central Banks Back...
Huobi's Stablecoin Reserves Down 30% Amid Reports of Executive Arrests
7.8.2023
Data from Nansen.ai shows that users have withdrawn $44.8 million in stablecoins during the last week
Class Action Lawsuit Against Tether, Bitfinex Dismissed
5.8.2023
A class action lawsuit filed against cryptocurrency firms Tether and Bitfinex was dismissed Friday by a federal judge in New York. The judge ruled the complaint lacked plausible claims of injury and failed to show that Tether’s stablecoin USDT had diminished in value. Judge Dismisses Market...
Reports Suggest 11th-Largest Bitcoin Wallet Belongs to Stablecoin Giant Tether
5.8.2023
A 21.co research analyst has disclosed that Tether, the company behind the world’s most prominent stablecoin by market capitalization, could potentially hold the 11th-largest bitcoin (BTC) address. Additionally, an individual familiar with the matter has verified to The Block that said...
Coinbase earnings show the company is now much more than just an exchange
4.8.2023
The Coinbase earnings report shows that services and subscriptions are the exchanges’ core revenue streams. Is this a positive or a negative?
Tether Attestation Reveals Reserve Increase of $850 Million in Q2, Excess Reserves Reach $3.3 Billion
1.8.2023
Tether, the company behind the USDT stablecoin, has published an attestation revealing the company’s financials during Q2 2023. The document, prepared by BDO, a network of accounting and consulting services, found Tether has increased its reserves by $850 million during this period, with...
Tether's Q2 Results: $3.3 Billion in Excess Reserves, Surpassing $1 Billion in Operational Profits
1.8.2023
Stablecoin issuer Tether’s consolidated reserves report for the second quarter of 2023 shows that the company has around $3.3 billion in excess reserves, while profits increased 30% from last quarter to over $1 billion.
The report, which was attested by accounting firm BDO, noted that the excess...
Tether Reports $3.3B in Excess Reserves in Q2, Up $850M for the Quarter
31.7.2023
The company said its operational profits exceeded $1 billion in Q2 this year