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Tether has released its latest reserves attestation for USDT, with its excess reserves increasing to $3.3 billion. Tether continues to increase its treasury reserve holdings backing circulating USDT (USDT) tokens, according to its latest financial attestation for the second quarter of 2023. Tether Holdings published its Q2 attestation from accounting firm BDO, highlighting an $850 million increase in its excess reserves, which takes its total to $3.3 billion. Tether Excess Reserves increase by 850M to reach $3.3B as Leading Stablecoin Reveals $72.5B overall exposure in US T-Bills and Unveils Energy-Related Investments. Read more https://t.co/zoEHWMawEM pic.twitter.com/N4vk3EUQnw — Tether (@Tether_to) July 31, 2023 The report also serves as the first time the company has disclosed its indirect exposure to United States Treasurys held by money market funds as well as U.S. Treasurys collateralizing its overnight repo: “By aggregating them together, the amount of Treasuries back...

And because of the rising concerns, the bank acknowledges the need for crypto. The bank has outlined the rules by which virtual asset businesses must operate. These businesses can open standard banking accounts once they obtain an Approval-in-Principle (AIP) license from the Securities Regulatory Commission, according to the bank’s announcement. advertisement More Interest Rate Hikes Yansheng acknowledges that Hong Kong ’s current high-interest rates, in contrast to those of the mainland and neighboring regions, have triggered a slowdown in the overall demand for bank loans. He anticipates that loan growth will face pressure this year. However, he also offers a glimmer of hope, stating, “It will not wait long before reducing it.” He indicates that next year’s expected interest rate cuts could prompt an improvement in loan growth. The Hong Kong Monetary Authority’s latest statistics reveal that annualized loan growth has been n...

Also Read: SBF Might Face Pre-Trial Jail Time As Prosecutors Cite Intimidation Tactics advertisement SBF Tried To Intimidate Witnesses As per the letter, DOJ stated that SBF was released on a bond on December 22, 2022, however, multiple bail modifications were made later on the defendant’s request. It mentioned that on January 15, 2023, the defendant initiated communication with the current General Counsel of FTX US who may be a witness at trial. SBF allegedly contact FTX US lawyer over the encrypted messaging application Signal, as well as by email. SBF wrote that he would really love to reconnect and see if there’s a way for us to have a constructive relationship. He asked the lawyer if they can use each other as resources when possible, or at least vet things with each other. DOJ highlighted that SBF has been using Singal for obstructive purposes, while its autodeletion of messages from communication channels has further complicated the in...

Arkham Intelligence has been thrust into the limelight thanks to its new ‘dox-to-earn’ program, which has also invited increased scrutiny of its founder, Miguel Morel. Before Morel founded Arkham, he co-founded Reserve alongside Nevin Freeman. Reserve is another cryptocurrency company focused on over-collateralized stablecoins. However, Freeman and Morel also have a history that predates Reserve, involving a strange group of Silicon Valley thinkers. This group hoped it had chanced into revolutionary new psychological tools that would enable it to correct serious mental health issues and enable people to become more effective. Freeman met self-proclaimed philosopher and research program designer Geoff Anders during a time when he was looking for a new purpose in life. He’d shifted his focus from climate change to other things he believed posed an existential risk , such as Artificial General Intelligence. In the early 2010s, Anders formed Leverage Research to focu...

BTC traders fix their eyes on $31,000 even as $2 billion in Bitcoin options are set to expire this Friday. The upcoming $2 billion Bitcoin (BTC) monthly options expiry on July 28 could potentially establish $29,500 as a support level. Some argue that the recent U.S. Federal Reserve interest rate increase to 5.25% had a detrimental effect on risk-on assets like cryptocurrencies. However, Bitcoin bulls believe that the full impact of a tighter economic policy takes time to influence the markets. Bitcoin daily price movements during option expiries. Source: TradingView Looking back, the monthly expiry on June 30 did not cause significant volatility, given that Bitcoin had already experienced a 22.2% gain between June 15 and June 23. Conversely, the May monthly expiry triggered a 9% rally, with Bitcoin's price rising from $26,100 on May 25 to $28,450 on May 29. In contrast, the options expiry in April resulted in a 7% correction, as Bitcoin's price dropped from $29,900 on April 2...

Jul 26, 2023 at 23:00 // Price Author Coin Idol The price of Bitcoin (BTC) is squeezed between the moving average lines after the price decline on July 14. The current decline has stopped above the $29,500 support level due to the doji candlesticks. Bitcoin (BTC) Price Long Term Forecast: Bearish The doji candlesticks signal that buyers and sellers are undecided about the direction of the market. The price signal, on the other hand, indicates a likely breakdown and reversal above the $29,500 support. In the meantime, Bitcoin continues to trade between the mo...

Also Read: Terra Luna Classic To Burn 800 Million Tokens, LUNC And USTC To $1? advertisement Outlook For Upcoming FOMC Meetings In recent statements, the Fed officials have been warning of the possibility of two more rate hikes in the current year. This means there could likely be one more rate hike coming, after the rates already reaching the highest level since 2001. The FOMC reiterated that its target is to achieve maximum employment and limit inflation at the rate of 2 per cent over the longer run. Analysts predict that if the rate hike pause kicks in from the next FOMC meet, the January 2024 meeting could likely deliver the first rate cut. “In support of these goals, the Committee decided to raise the target range for the federal funds rate to 5-1/4 to 5-1/2 percent. The Committee will continue to assess additional information and its implications for monetary policy.” Recommended Articles ...

Ant Group is reportedly cutting off its blockchain and database management businesses from its main entity to prepare for an upcoming public offering. Ant Group, a company backed by billionaire Jack Ma, is reportedly planning to restructure and cut ties to some operations that are not core parts of its Chinese financial business. The move prepares the company for a potential initial public offering (IPO) in Hong Kong.  Citing anonymous sources, mainstream media outlet Bloomberg reported that the firm relayed to its shareholders that the company is looking to leave its blockchain , database management out of a main entity, which will then be applying for a financial holding license in China. After completing its restructuring plans and securing the license, the company can prepare to go public in Hong Kong instead of its former approach of pursuing a dual Shanghai-Hong Kong listing. In 2020, Ant Group targeted a $226 billion valuation by attempting a $30 billion IPO in Hong Kong and ...

Twitter X Account Ownership Flashing Concerns According to a TechCrunch report , the owner of the @ X Twitter account has come out to reveal that Elon Musk and the company are yet to reach out to him as it concerns an e X pected plan to take over the account.  advertisement Twitter’s rebranding to X was notably rushed. Despite the fact that the logo has been changed from the Blue Bird to X, several aspects of the social media platform including the search box still reference Twitter. The official Twitter Account has been changed to X but the handle is yet to depict @X. Owners of the @X handle, particularly Gene X Hwang of corporate photography and videography studio, Orange Photography, said he will be willing to part away with the handle if the right amount is offered by the company. While Gene according to the TechCrunch report said he has no official figures in mind, it remains unclear whether or not the social media platform will be exploring any ...

Elon Musk is a popular Dogecoin (DOGE) proponent. Many community members have pointed out that after officially changing Twitter to X, Musk’s bio has a DOGE-like “D.” In the past, Musk has expressed interest in integrating DOGE payments on Twitter , now X. However, we do not have confirmation if this integration is going to take place. Yet, the doge community is eagerly waiting for that particular upgrade to roll out. Anyone else notice the Dogecoin (Ɖ) symbol in Elon Musks location pic.twitter.com/Y1OGT42hD2 — Morgan (@Helloimmorgan) July 24, 2023 In a recent interview, Musk mentioned that X could become half the world’s financial system if established correctly. The billionaire aims to transform the social media platform into an “everything app.” Also Read: Dogecoin (DOGE) Surges 4% Following Elon Musk’s Tweet Furthermore, Musk recently tweeted that the X platform will “ add comprehensive communication...

Litecoin [ LTC ] is currently a hot topic in the crypto currency community as the halving event draws near. Anticipation is high for this event, as it is considered a highly bullish occurrence. However, various indicators are pointing toward the possibility of a significant correction in the LTC network. Prominent analyst Ali Martinez has put forth a different perspective regarding Litecoin’s fate. According to him, the halving event might trigger a “Sell the News” reaction. He pointed out a notable trend of increasing new addresses being created on the Litecoin network, with over 690,000 such addresses generated recently. Based on his observations, in the past five years, each time the number of new Litecoin addresses surpassed 350,000, it was followed by a substantial price correction. #Litecoin | Each time the number of new $ LTC addresses surpassed 350,000 in the last five years, a significant price correction followed. More than 690,000 # LTC addresses wer...