Fun

News Feed - 2023-08-30 07:08:21

Brayden Lindrea1 hour agoTether adds Bahamas-based private bank Britannia as partner: ReportTether’s reported new partnership with Britannia Bank makes it the third Bahamas-based bank to join forces with the stablecoin issuer.162 Total views65 Total sharesListen to article 0:00NewsJoin us on social networksTether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform.


It is understood Tether has instructed clients to send money to Britannia’s bank account over the last few months, according to an Aug. 29 report by Bloomberg, citing people familiar with the matter.


However, it isn’t clear when Tether’s banking relationship with Britannia Bank started, but its other reported banking partners include Deltec Bank and Capital Union Bank.


In recent months, United States-based cryptocurrency firms have had to increasingly look offshore for banking partners amid increased scrutiny by U.S. regulators following the shock collapse of FTX in November.


Tether’s unwillingness to publicly disclose the full extent of its balance sheet and banking relationships has also fueled industry FUD (an acronym for fear, uncertainty and doubt) in the past over how the stablecoin issuer stores its $86 billion in assets.


Related:US Fed steps up oversight of banks" involvement with crypto firms


Tether’s USDT currently dominates the stablecoin market, with its $82.9 billion market cap representing 66.5% of the total market, accordingto CoinGecko.


USDT’s market cap rallied over 20% to $80 billion over the first four months of 2023 — amid the banking crisis involving Silvergate Bank, Signature Bank and Silicon Valley Bank — but has since steadied out around the $80-82 billion since then.USDT"s change in market cap over the last 12 months. Source: CoinGecko


Magazine:Unstablecoins: Depegging, bank runs and other risks loom# Altcoin# Business# Banks# SEC# Tether# Stablecoin# RegulationAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?The future of BTC mining and the Bitcoin halvingThe bright side of Evergrande’s collapse? More crypto volatility

News Feed

Blast drops ‘L2’ from X username, reduces withdrawal time from 14 to 7 days
Christopher Roark3 hours agoBlast drops ‘L2’ from X username, reduces withdrawal time from 14 to 7 daysAfter monitoring withdrawals for four months, the developers concluded that longer withdrawal times were no longe
Tesla CEO Elon Musk Takes Stake in Twitter — Analyst Says It Could Lead to a Buyout
Tesla CEO Elon Musk Takes Stake in Twitter — Analyst Says It Could Lead to a Buyout Tesla CEO Elon Musk has taken a stake in Twitter Inc. after stating that he is “giving
Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits
Reddit Introduces ETH-Based Community Points Beta Program With Custom Tokens for Subreddits The popular forum and news aggregation web portal Reddit has revealed the firm’s
Tom Mitchelhill2 hours agoBitcoin heads for red September, but analysts tip October as ‘days to watch’While history shows September isn"t usually great for Bitcoin, analysts urged investors to look to mid-October.269
El Salvador’s President Tells Peter Schiff Benefit of Switching Gold Reserves to Bitcoin
El Salvador"s President Tells Peter Schiff Benefit of Switching Gold Reserves to Bitcoin The president of El Salvador, Nayib Bukele, has revealed that his country holds 44,106 oz.
Bitcoin opens $63K futures gap as thin liquidity threatens BTC price
William Suberg9 hours agoBitcoin opens $63K futures gap as thin liquidity threatens BTC priceBitcoin market participants are doubting the staying power of the ongoing BTC price relief bounce.6861 Total views21 Total shar
Turkey Drafting Crypto Bill to Submit to Parliament in Coming Weeks: Report
Turkey Drafting Crypto Bill to Submit to Parliament in Coming Weeks: Report Turkey is reportedly drafting crypto legislation to be submitted to parliament in the coming weeks. The
Seamless Protocol introduces Integrated Liquidity Market on Lido
Ana Paula Pereira6 hours agoSeamless Protocol introduces Integrated Liquidity Market on LidoSeamless’ first Integrated Liquidity Market will enable stakers on Lido to automatically use a borrowing strategy and compound
Bitcoin no longer in ‘easy mode’ — Expect a leverage wipeout, observers warn
Ciaran Lyons4 hours agoBitcoin no longer in ‘easy mode’ — Expect a leverage wipeout, observers warnSome crypto traders suggest waiting on the sidelines to avoid getting “rinsed by leverage,” as they can always
Market Strategist Expects Stock Market to Drop 50% From Here, Says There’s ‘Going to Be No Middle Class Left’
Market Strategist Expects Stock Market to Drop 50% From Here, Says There"s "Going to Be No Middle Class Left" Following Jerome Powell’s hawkish commentary at the annual Jack
Daniele Servadei7 hours agoBinance caves to pressure over coin listings, scoring a win for privacyThose of us in Italy and surrounding countries will be allowed to continue trading Zcash, Monero and other coins that Bina
Digital asset inflows recover, but ETF activity is slowing down
Prashant Jha12 hours agoDigital asset inflows recover, but ETF activity is slowing downDespite a net positive flow into the crypto market, spot Bitcoin ETF demand seems to have slowed down since its peak in the first wee