Fun

News Feed - 2023-10-20 10:10:00

Helen Partz10 hours agoTether to publish reserve reports in real time in 2024: BloombergPaolo Ardoino, Tether’s chief technical officer and incoming CEO, said the firm plans to start publishing reserve data in real-time in 2024, according to a report.2418 Total views4 Total sharesListen to article 0:00NewsJoin us on social networksTether Holdings, the issuer of the world’s largest stablecoin by market capitalization, Tether (USDT), is reportedly preparing to update the frequency of releasing its reserve data reports.


Paolo Ardoino, Tether’s chief technology officer and incoming CEO, disclosed that the firm plans to publish reserve data in real-time in 2024, Bloomberg reported on Oct. 20.


Tether did not immediately respond to Cointelegraph’s request for comment.


According to the Tether transparency page, the stablecoin issuer currently publishes and updates its reserves data at least once per day. Tether also issues monthly reserve reports in addition to quarterly reserve reviews.Tether transparency page update as of Oct. 19, 2023 at 11:30 pm UTC. Source: Tether


Despite many cryptocurrency markets seeing some slump in 2023, the USDT issuing company has gained momentum over the past year. According to Tether"s Q2 update, the company’s assets rose 5.7% to $86.5 billion. The firm made more than $1 billion in "operational profit," which is a 30% increase from the previous quarter.


Tether has also seen a increase in its stablecoin lending in 2023, which came despite the firm having cut such loans down to zero in December 2022.


Related: Tether stablecoin loans rise in 2023 despite downsizing announcement in 2022


According to Tether’s Q2 attestation from accounting firm BDO, the firm increased its excess reserves by $850 million, bringing total excess reserves to $3.3 billion. The company also disclosed that it had $72 billion worth of indirect exposure to United States Treasurys held by money market funds, as well as U.S. Treasurys collateralizing its overnight repo.


Magazine: Beyond crypto: Zero-knowledge proofs show potential from voting to finance# Dollar# Business# Fiat Money# Tether# Stablecoin# RegulationAdd reactionAdd reactionRead moreCentral banks want to look under crypto’s hood — Is this a positive sign?Sam Bankman-Fried’s trial is telling a story of classic financial deceitTether stablecoin loans rise in 2023 despite downsizing announcement in 2022

News Feed

Solana Cracks Below Key Structure – Head And Shoulders Breakdown Points To $106
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Turner Wright4 hours agoJudge says Sam Bankman-Fried’s lawyers have until Sept. 1 to request a trial postponement: ReportThough the judge reportedly said he would not necessarily grant a postponement, SBF’s lawyers h
Prashant Jha11 hours agoFormer Celsius CEO Mashinsky seeks dismissal of FTC caseThe former Celsius CEO is currently out on bail facing multiple charges of criminal fraud and market manipulation from various U.S. regulato
Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions
Swiss Financial Watchdog Proposes $1,000 Client Identification Threshold for Crypto Transactions Famous for its favorable business climate that has attracted hundreds of crypto c
Bitcoin ‘late longs’ washed out as BTC price falls to $65K
Nancy Lubale3 hours agoBitcoin ‘late longs’ washed out as BTC price falls to $65KBitcoin leveraged positions increased over the past week, and a portion of these late longs have been wiped out as BTC price dropped cl
Spencer Dinwiddie Could Decentralize Pro Sports – If Accredited Investors Want In
Accredited investors can soon indulge their hoop dreams. In partnership with crypto firm Paxos, NBA guard Spencer Dinwiddie is looking to raise $13.5 million by tokenizing the first
OpenAI co-founder and chief scientist departs AI firm
Jesse Coghlan7 hours agoOpenAI co-founder and chief scientist departs AI firmIllya Sutskever said he’s leaving OpenAI for a “personally meaningful” project with research director Jakub Pachocki now moving into the
Analysts Say Bitcoin Breakout Imminent: Silver-like Suppression, $5 Trillion in Cash Could Flow Into BTC
Analysts Say Bitcoin Breakout Imminent: Silver-like Suppression, $5 Trillion in Cash Could Flow Into BTCA number of venture capitalists and macro investors believe bitcoin’s p
Nayib Bukele’s party takes supermajority in legislature amid voter fraud allegations
Turner Wright2 hours agoNayib Bukele’s party takes supermajority in legislature amid voter fraud allegationsThe El Salvador president claimed victory before the official results were released, but opposition groups hav
Founder of the Bitcoin Mixer Helix Pleads Guilty to Money Laundering Charges
Founder of the Bitcoin Mixer Helix Pleads Guilty to Money Laundering Charges Larry Dean Harmon, founder and operator of the bitcoin mixing service Helix has plea
Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance Sheet
Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance Sheet The hedge fund Goldentree, a firm with $41 billion in assets under m
Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power
Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have