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Tether Holdings Limited reported a record-breaking net profit of $5.2 billion for the first half of 2024, according to its latest assurance opinion for the second quarter. The report, conducted by BDO, highlighted Tether’s increased exposure to U.S. Treasury bills and a significant rise in group equity. Tether Reveals Mid-Year Financials The largest stablecoin issuer … Read more
Tether’s market cap surges post-SVB collapse, driven by liquidity and accessibility, says ITB’s Vincent Maliepaard. Go to Source
Cantor Fitzgerald, a billionaire asset management fund, recently announced its plans to provide leveraging services for Bitcoin investors. This venture will operate as a separate entity, commencing its operations with a capital of $2 billion. The capital will be replenished in tranches of $2 billion to cater to the needs of Bitcoin holders. This information … Read more
Indian cryptocurrency exchange Wazirx is implementing a socialized loss strategy to distribute the impact of the recent $230 million cyberattack among all its users. The exchange stated that 55% of users’ crypto assets will be accessible, while the remaining 45% will be converted to USDT-equivalent tokens and locked. “The fastest way to open the platform … Read more
The stablecoin economy is experiencing renewed growth. Over the past week, the market capitalization of all stablecoins increased by $1.52 billion. The growth over the past seven days was primarily driven by tether (USDT), the largest stablecoin by market valuation, with its supply expanding by 1.2 billion coins. Stablecoin Economy Sees Growth Again Over the … Read more
Ethereum’s price exhibited volatility on Tuesday, coinciding with the launch of U.S. spot ether exchange-traded funds (ETFs) on Wall Street. At around 5 a.m. EDT, ETH surged to an intraday high of $3,540 per coin but later dropped to approximately $3,406 by 12:55 p.m. in the afternoon. Ether’s Bearish Sentiment Dominates Trading Day Amid ETF … Read more
The digital asset security platform Cyvers Alerts disclosed on July 19 that Rho Markets’ liquidity layer on Scroll had been exploited after hackers took control of an oracle access control. Cyvers reported that the attacker held $7.6 million across multiple chains, with USDC and USDT pools among the affected assets. Shortly after detecting unusual activity, … Read more
Rho Markets has already paused its platform in response to the security breach. Go to Source
Yesterday, the Tether Treasury minted another 1 billion USDT on the Tron Network, marking the second consecutive month of substantial minting. Over the past year, Tether Treasury has minted a staggering 31 billion USDT, reflecting a continued strong demand for stablecoins in the cryptocurrency market. 7 hours ago, #TetherTreasury minted 1B $USDT on #TronNetwork again … Read more
While the stablecoin economy experienced tepid growth in June, it expanded by $344.15 million over the past seven days. Paypal’s PYUSD, currently the eighth largest stablecoin by market capitalization, led the growth over the past 30 days, increasing 41.2% to reach $585.25 million. Stablecoin Economy Grows as Bitcoin and Ethereum Prices Rise Bitcoin and ethereum … Read more
