Binance ties SAFU fund to USDC: Is the fund missing out on potential gains?

May 2, 2024 Coin Telegraph

Binance

Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.

The Secure Asset Fund for Users (SAFU ) — an emergency fund established by crypto exchange Binance to cover user assets — contained various cryptocurrencies, such as Bitcoin (BTC), Tether (USDT), True USD (TUSD) and BNB (BNB).

But on April 18, 2024, Binance denominated the entire fund — 100% of SAFU assets — in Circle’s USD Coin (USDC).

The timing of this decision may seem odd, with the Bitcoin bull market in full swing, driven by the recent halving and high Bitcoin exchange-traded fund (ETF) volumes.

Tether invests 0 million in Blackrock Neurotech, a top rival of Elon Musk's Neuralink

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

New Competitors Eating Away At Tether’s USDT Stablecoin Dominance: Kaiko Analytics

May 1, 2024 The Daily Hodl

Altcoins

Market intelligence platform Kaiko Analytics reports that new competitors are chipping away at Tether’s (USDT) stablecoin dominance. In a new report titled “Tether Loses Market Share,” Kaiko Analytics says that the stablecoin issuer’s market share over centralized exchange platforms (CEXs) has dipped 13% year-to-date (YTD) due to the growth of rival dollar-pegged digital assets, such […]

The post New Competitors Eating Away At Tether’s USDT Stablecoin Dominance: Kaiko Analytics appeared first on The Daily Hodl.

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Tether reports record $4.52 billion Q1 profit

May 1, 2024 The Crypto Briefing

Tether reports record .52 billion Q1 profit

Crypto Briefing

Tether Holdings Limited reports a Q1 net profit of $4.52 billion and a net equity of $11.37 billion, highlighting its financial growth and stability.

The post Tether reports record $4.52 billion Q1 profit appeared first on Crypto Briefing.

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Tether nets record $4.52 billion profit in Q1 2024 — majority from Bitcoin and gold

May 1, 2024 Coin Telegraph

Tether nets record .52 billion profit in Q1 2024 — majority from Bitcoin and gold

Bitcoin Price

The majority, or $3.52 billion of the profit, stemmed from the firm’s financial gains on Bitcoin and gold, while the additional $1 billion came from operating profits.

Tether Holdings, the company behind the world’s largest stablecoin (USDT), reported a record net profit of $4.52 billion in the first quarter of 2024.

Tether also revealed its net equity for the first time, which stands at $11.37 billion as of March 31. This represents a significant increase from the $7.01 billion worth of equity recorded at the end of December 2023, according to Tether’s attestation report for the first quarter of 2024.

Approximately $1 billion stemmed from operating profits derived from United States treasury holdings, while the remainder of $3.52 billion comprised the market-to-market gains in the firm’s Bitcoin (BTC) and gold positions.

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Tether Invests $200 Million in Blackrock Neurotech, Launches Evo Division

May 1, 2024 Bitcoin.com

Tether Invests 0 Million in Blackrock Neurotech, Launches Evo Division

bitcoin.com

Tether, the giant behind the world’s largest stablecoin USDT, announced a $200 million strategic investment in Blackrock Neurotech, a brain-interface company. The investment also marks the launch of Evo, a new business division for the company that will examine investments in initiatives that merge tech and human potential. Tether Dabbles in Biotech, Acquires $200 Million […]

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Stablecoin Giant Tether Pours $200,000,000 Into New ‘Brain-Computer-Interface’ Company BlackRock Neurotech

April 29, 2024 The Daily Hodl

blackrock neurotech

The firm behind the top US dollar-pegged stablecoin by market cap is investing hundreds of millions of dollars in a “brain-computer-interface” (BCI) company. In a new announcement, USDT-issuer Tether says they have invested $200 million in Blackrock Neurotech, making Tether the majority stakeholder in the firm. According to the announcement, Blackrock Neurotech’s BCI technology has already helped physically […]

The post Stablecoin Giant Tether Pours $200,000,000 Into New ‘Brain-Computer-Interface’ Company BlackRock Neurotech appeared first on The Daily Hodl.

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Tether invests $200 million in Blackrock Neurotech, a top rival of Elon Musk’s Neuralink

April 29, 2024 The Crypto Briefing

Business

Tether becomes the majority stakeholder in Blackrock Neurotech with a $200M investment, advancing BCI technology for neurological conditions.

The post Tether invests $200 million in Blackrock Neurotech, a top rival of Elon Musk’s Neuralink appeared first on Crypto Briefing.

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Tron Founder Justin Sun Accumulates Over $559,000,000 in Ethereum (ETH) Amid Crypto Correction: Lookonchain

April 29, 2024 The Daily Hodl

Tron Founder Justin Sun Accumulates Over 9,000,000 in Ethereum (ETH) Amid Crypto Correction: Lookonchain

Altcoins

New data from blockchain-tracking service Lookonchain reveals that the founder of Tron (TRX) is gobbling up hundreds of millions of dollars worth of Ethereum (ETH) as the crypto market goes through a correction. In a new thread on the social media platform X, Lookonchain says that Justin Sun, who founded Tron in 2017, has accumulated […]

The post Tron Founder Justin Sun Accumulates Over $559,000,000 in Ethereum (ETH) Amid Crypto Correction: Lookonchain appeared first on The Daily Hodl.

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Turkey tops the world in stablecoin buying share vs. GDP

April 25, 2024 Coin Telegraph

Coin Telegraph

Stablecoin purchases in Turkey amount to 4.3% of GDP, the highest among global economies, according to Chainalysis.

The United States may lead the world in stablecoin transaction volumes, but its share of stablecoin purchases relative to its gross domestic product (GDP) has been eclipsed by Turkey.

According to “The 2024 Crypto Spring Report,” released on April 25 by the blockchain intelligence firm Chainalysis, Turkey has the highest share of stablecoin purchases relative to its GDP.

Based on Chainalysis’ data, stablecoin buying in Turkey accounted for 4.3% of its GDP between April 2023 and March 2024, making it the world’s biggest spender of stablecoins relative to its GDP.

SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research

Venezuelan State Oil Company to Accelerate USDT Adoption for Settlements; Tether Vows to Uphold OFAC Sanctions

April 24, 2024 Bitcoin.com

bitcoin.com

PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate its adoption. Tether, nonetheless, stated it will uphold OFAC […]

Tether

Share this video