Tether, the stablecoin enterprise, has revealed its intention to devote 15% of its profits to bitcoin. The firm’s announcement comes on the heels of Tether’s recent attestation report, which emphasized the company’s possession of bitcoin reserves worth $1.5 billion. Tether’s Strategic Shift: Profits to Fuel Bitcoin Acquisition Tether, the company behind the crypto economy’s largest stablecoin asset, has unveiled its…
Month: May 2023
Dogecoin Activity Surges With Ordinals—But a Core DOGE Dev Is Skeptical
Dogecoin hit a new all-time high of 719,000 daily transactions on Tuesday, thanks to their newly created standard–DRC-20–which allows for the creation of meme coins on the Bitcoin network. This number of daily transactions even surpassed BTC, which registered 566,000 daily transactions yesterday. Dogecoin users have copied the architecture enabled by Ordinals, and created their very own “Doginals.” These tokens,…
Ripple acquires Swiss blockchain custody firm Metaco for $250M
On May 17, Ripple, creator of the namesake payments network and XRP token, announced it had acquired Swiss digital asset custodian and tokenization provider Metaco for $250 million. With the acquisition, Ripple says it will expand its enterprise offering to custody, issue, and settle tokenized assets. The firm’s developers wrote: “Metaco will dramatically accelerate its growth trajectory through access to Ripple’s…
Bitcoin price capitulation below $26K increases as Friday’s BTC options expiry looms
Bitcoin (BTC) price lost steam after a failed rupture of the $27,500 resistance on May 15, putting bears in a better position for the May 19 expiry. The regulatory newsflow likely played a key role in trimming investors’ risk appetite as governments seek more control over the sector. In a memo circulated among committee members, Democrats in the United States…
China state-owned Greenland to apply for Hong Kong virtual asset trading license
A Greenland Holdings subsidiary is applying for a virtual asset trading license in Hong Kong, the South China Morning Post reported. It is the first state-owned Chinese company to do so. Greenland Financial Technology Group CEO James Geng Jing told the Hong Kong newspaper that a new company dedicated to virtual asset trading would be set up and apply for…
How Many Games Are Building On Solana? The Answer Might Surprise You
Solana Games General Manager Johnny Lee tells Decrypt’s Kate Irwin about the current state of Solana’s Web3 gaming ecosystem. Source: https://decrypt.co/videos/interviews/WV6HegEv/how-many-games-are-building-on-solana-the-answer-might-surprise-you
Busting crypto myths: NFTs are only for the wealthy
Since the crypto market took off in 2021, many non-fungible tokens (NFTs) are now changing hands for dizzying sums of money. To date, the ten most expensive NFTs sold at auction have fetched between $7 million and $91.8 million. That’s higher than the average price of Claude Monet’s artwork ($80.5 million) and many other pieces of prestigious physical artwork. The…
Biggest Movers: DOGE, XRP Hit 1-Week Highs, Despite Wednesday’s Crypto Red Wave
Dogecoin rose to a one-week high on Wednesday, despite cryptocurrency markets mostly moving lower. As of writing, the global crypto market cap is trading nearly 1% lower. Xrp also surged, climbing by over 6% in today’s session. Dogecoin (DOGE) Dogecoin (DOGE) was able to climb to a one-week high in today’s session, despite markets mostly trending lower. Following a low…
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…
Tether to buy Bitcoin based on monthly net profits
Tether said that Bitcoin’s decentralized nature and its long-term store of value made it an obvious choice for the stablecoin issuer. Source: https://cointelegraph.com/app/public/index.php/news/tether-to-buy-bitcoin-based-on-monthly-net-profits