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Deltec Bank Accused of Secretly Extending a $2 Billion Credit Line to Alameda Research

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Deltec Bank and Trust Ltd, based in The Bahamas, stands accused of covertly extending a $2 billion line of credit to Alameda Research. A lawsuit, filed by those who claim to be victims of Sam Bankman-Fried, accused Deltec of granting a three-day grace period to Alameda Research for the settlement of purchased stablecoins. Misappropriation of … Read more

Stablecoins Are the ‘Biggest Misnomers’ and ‘Oxymorons’ Says New Zealand Central Bank Governor

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The New Zealand Central Bank governor, Adrian Orr, recently branded stablecoins “the biggest misnomers” and “oxymorons.” Orr also rejected the notion that cryptocurrencies could serve as a replacement or supplement to central bank-issued money. Stablecoins Not a Viable Substitute for Money Despite their rise as an alternative to fiat currency in some regions, stablecoins are … Read more

Return Of Tether To Exchanges Sparks Speculation of Bullish Trend

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In a surprising turn of events, approximately 4% of Tether’s available supply has returned to exchanges within just five weeks. This movement contrasts with the ongoing trend of Ethereum and Bitcoin supplies moving off exchanges following the adoption of the ETF.  📊 As #Bitcoin’s & #Ethereum’s respective supplies have continued moving off exchanges after the … Read more

USDC/USDT Stablecoin Pair Experiences Brief Dip In Value Amidst Market Turbulence

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In a recent bout of market turmoil, the trading pair involving Circle’s USDC dollar and Tether’s USDT on Binance witnessed a sudden drop to $0.76 and $0.8 at UTC+8 20:00 and 20:15, respectively. Shortly thereafter, the values swiftly normalized. A similar dip was observed on OKX, with the trading pair reaching $0.955 around 20:00. In … Read more