In September 2023, Tether also invested an undisclosed amount in Northern Data in a move backing AI initiatives. Tether (USDT) stablecoin issuer is raising the bet on Bitcoin (BTC) mining by issuing a major debt facility to German-based BTC mining company Northern Data AG. Northern Data AG has secured a 575 million euro ($610 million)…
Read more
Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, according to Chainalysis. The United States government may be losing regulatory oversight of the stablecoin market, according to a new report by blockchain research firm Chainalysis. Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United…
Read more
Bitcoin is back near its year-to-date highs, but BTC price moves belie an underlying lack of support, analysis fears. Bitcoin (BTC) starts the last week of October in classic style as 3% BTC price gains take cryptocurrency markets higher. In what could yet turn out to be a classic “Uptober” for Bitcoin and altcoins, BTC/USD…
Read more
Cryptocurrency exchange Binance is restoring fiat services for customers using the common European currency, the euro (EUR). The coin trading giant announced that users are already migrating to the new platforms it partnered with in the wake of losing the services of Paysafe. Crypto Exchange Binance Offers Users New EUR Options for Deposits and Withdrawals…
Read more
The US Branch of the world’s largest crypto exchange, Binance US, recently communicated to its users that their cryptocurrency deposits are no longer covered by Federal Deposit Insurance Corporation (FDIC) insurance. In an email sent to its customers on October 16, Binance US announced updates to its terms of service regarding deposit insurance, aligning with…
Read more
Michelle Bowman told a university audience that financial innovation should be justified by need and be properly regulated. Federal Reserve Board governor Michelle Bowman shared her views on financial innovation in a speech at Harvard Law School on Oct. 17. Bowman has spoken several times on the topic, and her position seems to be growing…
Read more
Binance.US users “may convert” their U.S. dollar holdings to stablecoins or other digital assets to withdraw the funds from their accounts, the firm said. Cryptocurrency exchange Binance.US has updated its terms of service, hinting that direct withdrawals in United States dollars are no longer supported on the platform. Binance.US updated its terms of service on…
Read more
The change in leadership at Tether reflects its commitment to actively exploring new business operations, the company said. Tether, the issuer of the world’s largest stablecoin by market capitalization, is replacing its CEO as the company works to expand its areas of focus. Paolo Ardoino, who has been serving as Tether’s chief technology officer since…
Read more
The popular Ethereum wallet Metamask has introduced a new feature allowing users to convert crypto to major fiat currencies. The “Sell” option currently supports cashing out ether (ETH) and is available to users in the U.S., the United Kingdom, and some European markets. New Feature of Metamask Wallet Allows Users to Sell Ether for Fiat…
Read more
The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted. Russia Sees Alternative Currencies Like Chinese Yuan…
Read more
