3 reasons why Bitcoin price bottom could have been $67.3K

November 4, 2024 Coin Telegraph

3 reasons why Bitcoin price bottom could have been .3K

Bullish

Data suggests traders are ignoring the current Bitcoin price correction and betting for new highs after the US elections wrap up.

Bitcoin (BTC) fell 6.7% between Oct. 31 and Nov. 4, breaking below the $67,500 mark for the first time in eight days. This decline led to the liquidation of over $190 million in leveraged long positions and coincided with uncertainty surrounding the Nov. 5 US presidential elections.

Despite this short-term bearish momentum, three Bitcoin derivatives metrics show that the market is not panicking. These positive indicators include the long-to-short ratio of top traders on exchanges, aggregate BTC futures open interest, and stablecoin demand in China.

Exchanges top traders long-to-short ratio. Source: Coinglass

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Police Syndicate Accused of Extorting 10,000,000 USDT From Man Using Fake Search Warrant: Report

November 4, 2024 The Daily Hodl

Daily Hodl

Thai law enforcement has reportedly arrested seven police officers and one civilian accused of staging a false domestic search that involved the attempted extortion of 10 million USDT from a victim. Local publication QQ reports that the group targeted a Chinese national by swarming his residence and flashing what appeared to be a real search […]

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Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Stablecoin Issuer Tether’s USDT Potentially Seeing Rise in Adoption in Sanctioned Countries: Report

November 3, 2024 The Daily Hodl

Africa

The world’s largest stablecoin by market cap is reportedly potentially seeing a rise in adoption amongst sanctioned nations. Citing data from market intelligence platform Chainalysis, Bloomberg reports that stablecoin issuer Tether’s USDT is seeing increased usage at time zones correlated with major cities in Eastern Europe, the Middle East and Africa, including sanctioned nations such […]

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Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Stablecoin Market Grew by $555 Million in October – Which Tokens Are Leading the Pack?

November 2, 2024 Bitcoin.com

Stablecoin Market Grew by 5 Million in October – Which Tokens Are Leading the Pack?

Altcoins

According to the latest data, the stablecoin economy now holds a value of $172.892 billion, with October adding $555 million to the fiat-pegged token market. Stablecoin Market Continues to Climb Last month saw stablecoins grow modestly, with the market inching up 0.32% from $172.337 billion to $172.892 billion. Leading the pack, tether (USDT) now boasts […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Inside Tether’s $14.2B Equity Peak—Key Takeaways From the Q3 Attestation

November 1, 2024 Bitcoin.com

Inside Tether’s .2B Equity Peak—Key Takeaways From the Q3 Attestation

bitcoin.com

Tether’s third-quarter attestation for 2024, led by auditor BDO, highlights record profit levels, reserve expansion, and substantial U.S. Treasury holdings. Tether’s Q3 Performance Ranks Among Top U.S. Treasury Holders In its latest attestation, Tether Holdings Limited reports a third-quarter net profit of $2.5 billion, pushing its nine-month consolidated profit to $7.7 billion. The report, prepared […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Circle raises USDC cash-out fees, affecting large-scale redemptions

October 29, 2024 Coin Telegraph

Circle

The fee structure revision primarily affects institutional investors and high-volume traders.

Stablecoin issuer Circle has raised its fees for redeeming its USD Coin (USDC) for the second time in less than a year.

According to an Oct. 29 Bloomberg report, since September, the company has been collecting fees on daily redemptions of at least $2 million.

In February, Circle introduced swap charges for redemptions above $15 million through its Circle Mint platform.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Tether CEO Paolo Ardoino Says Stablecoin Issuer Now Holds Over $5,800,000,000 in Bitcoin Reserves

October 29, 2024 The Daily Hodl

Bitcoin

Tether chief executive Paolo Ardoino is updating the quantity of Bitcoin (BTC) and other assets that the stablecoin issuer currently holds on its balance sheet. In a post on the social media platform X, Ardoino says Tether now holds over 82,000 Bitcoin, a stash worth approximately $5.8 billion at the prevailing BTC price. The stablecoin […]

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Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Tether and Coinbase Unveil Tools for Private AI and Autonomous Blockchain Agents

October 28, 2024 Bitcoin.com

Tether and Coinbase are diving deep into artificial intelligence (AI), each unveiling new tech designed to bring enhanced privacy and onchain autonomy to the blockchain world. Blockchain and AI Tools In separate announcements this week, Tether and Coinbase revealed AI-driven products poised to reshape how developers and users engage with blockchain technology. Tether’s CEO Paolo […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Tether CEO breaks down reserves backing USDT stablecoin

October 27, 2024 Coin Telegraph

Coin Telegraph

The Wall Street Journal cited unnamed individuals as the source of the claims that the United States government is investigating Tether.

Tether CEO Paolo Ardoino took the stage at Lugano's PlanB event in Switzerland to provide a breakdown of the reserve assets backing the company's Tether-USD stablecoin (USDT) following allegations that the firm was under investigation by the United States Department of Justice and the Treasury.

Ardoino revealed that Tether holds approximately $100 Billion in US treasuries, more than 82,000 Bitcoin (BTC), valued at roughly $5.5 billion using current market prices, and 48 tons of gold.

The Tether CEO highlighted the asset reserves amid the fear, uncertainty, and doubt caused by a recent Wall Street Journal article, which claimed that US authorities were probing the firm for allegedly violating anti-money laundering laws and US sanctions.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Tether CEO Breaks Down $9.45B in BTC and Gold Reserves, but It’s Only Part of the Picture

October 27, 2024 Bitcoin.com

Tether CEO Breaks Down .45B in BTC and Gold Reserves, but It’s Only Part of the Picture

Bitcoin

At the Plan ₿ Forum in Lugano, Switzerland, Tether CEO Paolo Ardoino gave an insight into the financial reserves of Tether, disclosing that the stablecoin heavyweight holds 82,454 BTC and 48.3 tons of gold. Paolo Ardoino Clarifies Tether’s Asset Reserves Following Forum Presentation This week, tether’s market cap soared past $120 billion, making it about […]

Tether

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