Tether Holdings Limited, issuer of the USDT stablecoin, reported a Q2 profit of $850 million, bringing its total excess reserves to $3.3 billion. “The $850 million represents the retained profits of this quarter which have contributed to increasing Tether’s excess of reserves”, a spokesperson for Tether told Decrypt. “It’s basically additional capital sitting in the company to further strengthen Tether.”…
beginner Emerging from a three-year chrysalis, Worldcoin has rapidly become a hot topic in the digital realm. This ambitious initiative, born from the strategic mind of OpenAI’s CEO Sam Altman, seeks to bring a novel spin to how we comprehend identity and finance in an era increasingly shaped by artificial intelligence (AI). Far from a run-of-the-mill project, Worldcoin merges a…
Bitcoin (BTC) stayed static at the July 31 Wall Street open as analysis warned that the net was closing in for bulls. BTC/USD 1-hour chart. Source: TradingView $28,300 “last line of defence” for BTC price Data from Cointelegraph Markets Pro and TradingView followed the BTC price as it greeted the last trading day of July with more sideways behavior. Much…
The SEC has charged Richard Heart, the founder of the crypto project Hex, with allegedly conducting unregistered securities offerings that raised more than $1 billion. The Commission also included three unincorporated entities in its charges: PulseChain, PulseX, and Hex. Heart and PulseChain are also both facing charges for allegedly using $12 million in the offerings proceeds to buy luxury goods,…
Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets. Japan Blockchain Association (JBA), a non-governmental lobbying group, filed an official request to the country’s government, highlighting three major steps to ease up the fiscal burden on crypto holders. The request was published on the Association’s website on July 28. It calls…
The United States Securities and Exchange (SEC) has filed a lawsuit against Richard Schueler, better known in the crypto space as Richard Heart, for alleged unregistered offerings of three tokens. In a July 31 filing in U.S. District Court for the Eastern District of New York, the SEC claimed Heart had raised more than $1 billion through “the unregistered offer…
U.S. Democratic presidential candidate Robert F. Kennedy Jr. has again jumped to defend Bitcoin, endorsing arguments that the environmental impact of the world’s largest cryptocurrency isn’t nearly as dangerous as it’s reported. Commenting on Sangha Systems director Daniel Feldman’s recent Twitter thread describing how a “symbiotic relationship” between Bitcoin mining and the energy produced from renewable sources “solves problems and…
Tether (USDT) continues to increase its treasury reserve holdings backing circulating USDT tokens, according to its latest financial attestation for the second quarter of 2023. Tether Holdings published its Q2 attestation from accounting firm BDO, highlighting an $850 million increase to its excess reserves which takes its total to $3.3 billion. Tether Excess Reserves increase by 850M to reach $3.3B…
The government in the Chinese city of Shanghai issued an implementation plan on July 31 for promoting the development of its urban blockchain digital infrastructure system in the time frame of 2023-2025, according to an update on the government’s webpage. The update says that the plans have been formulated in order to serve the “strategic goal” of Shanghai’s urban digital…
The venture capital world has long been known for its traditional approach to funding and investing in startups. However, the emergence of blockchain technology can potentially disrupt this industry and revolutionize the way venture capital operates. One significant aspect of this disruption is the tokenization of assets. Blockchain enables the creation of digital tokens representing ownership in assets or companies.…
