Stablecoin company tether USDT +0.045% According to CEO Paolo Ardoino, the company plans to double its current headcount to around 200 by mid-2025.The company has historically operated as a lean team, with just over 100 employees currently spread across more than 50 countries, Ardoino told The Block. That’s despite the fact that it has issued USDT, the world’s largest stablecoin, with a market cap of $115.4 billion, according to The Block’s USDT page.“This (streamlined) approach will allow us to optimize our operations through technology and external partnerships, and focus on our core competencies to deliver exceptional value to our customers,”…
Author: Crypto Flexs
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Ether (ETH) retested $2,111 on August 5 for the first time since January 3, briefly giving up 98% of its 2024 year-to-date gains. The ETH/BTC chart also shows weakness against Bitcoin (BTC), with the pair hitting a 1,211-day low.ETH/BTC Weekly Chart. Source: Trading ViewMeanwhile, Ethereum ETF inflows saw a modest net inflow of $2.9 million on August 8, after seeing positive inflows of over $150 million immediately following Monday’s market crash. Total inflows remain negative at $390 million at the time of publication. Ethereum Rise as Public ‘Major Interest’ After CrashEthereum has recovered 27% since hitting a low of $2,111…
Tony Kim 09 Aug 2024 15:24 Ethereum (ETH) will transition to inflation in Q2 2024, adding 75,301 ETH to the network, marking a significant reversal from the deflationary trend that has persisted since late 2022. According to CoinGecko, Ethereum (ETH) has undergone a significant change in its economic model, switching to inflation in Q2 2024. This is the first time since late 2022 that Ethereum has added more coins to its supply than it has burned. Burn statistics and emissions As of August 5, 2024, the Ethereum network has burned a total of 465,657…
Bitcoin (BTC) fell below $60,000 at the opening of Wall Street on August 9 as investors watched for “irrational” whale movements.BTC/USD 1-day chart. Source: TradingViewBitcoin order book fluctuations raise suspicionsAccording to data from Cointelegraph Markets Pro and TradingView, the recent BTC price rally appears to be slowing down after reaching $62,775 on Bitstamp.Currently down 3% from its daily open, BTC/USD is facing significant resistance above $62,000, which analysis suggests could be an intentional manipulation.“Someone placed a large sell order for $61200-$62500. That’s 12,000 BTC total,” responded X, who reviewed the Binance order book, monitoring resource CoinGlass. “That’s a bit of…
Institutional investors have already shown how bullish they are on Bitcoin (BTC) and the broader crypto market, especially as they continue to accumulate USDT during the downturn. This bullish sentiment was once again on display as the institutional investor sent $445 million of USDT to exchanges to buy more crypto. Cumberland Transfers $445 Million USDT to Exchanges On-chain analytics platform Lookonchain revealed in a post on X (formerly Twitter) that crypto trading firm Cumberland has deposited $445 million from Tether Treasury into several exchanges. According to data from on-chain analytics platform Arkham Intelligence, Cumberland has been using USDT funds to…
Binance Labs Invests in Solayer to Support Solana’s Ecosystem Solayer plans to solve Solana’s network congestion problem. Re-staking is a cutting-edge technology that promises to decentralize dApps. In recent months, Solana has seen more and more decentralized protocols join its ecosystem. These applications, attracted by its fast speed and developer-friendly environment, are crucial to strengthening the Solana network. One such app has recently received external recognition for its potential. Binance Labs, the venture capital arm of the world’s largest cryptocurrency exchange, has invested in Solayer. The application aims to help increase Solana’s performance and secure the network and apps. Solayer…
Solana developers, validators, and client teams secured a majority stake in the network to address a critical security vulnerability before publicly disclosing the issue.According to Solana validator Laine, the process began on Wednesday, August 7, 2024, when the Solana Foundation reached out to known network operators via private channels. This initial contact was part of a strategy to carefully patch the vulnerability so that it could not be exploited in any way.Line added that operators can independently verify and apply the change via a patch provided via Anza engineers’ GitHub repository. Detailed instructions for implementing the patch were distributed to…
Darius Baru Aug 9, 2024 06:46 Ethereum developers discussed Pectra updates, PeerDAS implementation, and research findings at the All Core Developers Consensus Call #139. According to galaxy.com, on August 8, 2024, Ethereum (ETH) developers gathered via Zoom for the All Core Developers Consensus (ACDC) Call #139, which is held every two weeks. The meeting, chaired by Ethereum Foundation (EF) researcher Alex Stokes, focused on various updates and changes to Ethereum’s consensus layer (CL), the Beacon Chain.Pectra UpdateEF researcher Xiao Wei Wang is working on the next official release of the Pectra CL specification, alpha.4,…
Veteran trader Peter Brandt has warned that there is a 50% chance that Bitcoin (BTC) will crash below $40,000 this cycle. Brandt told his 734,000 followers on social media platform X that Bitcoin could crash by more than 35% from its current value by the end of next year. “I believe there is a 50% chance that BTC will drop below $40,000 before the last half of the halving.” Source: Peter Brandt/X Brandt also suggests that Bitcoin’s price action this year could be forming an inverted right triangle, similar to the black swan event Bitcoin experienced at the start of…
Hong Kong lawmaker Johnny Ng has urged the government and banks to ease banking restrictions on cryptocurrency and Web 3.0 companies, as many still struggle to open accounts in the country.Ng, a member of Hong Kong’s Legislative Council, wrote: mail Today X reported that Web3 companies are having trouble opening bank accounts, “hindering their ability to conduct business effectively.””Virtual banks should develop in a way that diversifies services and complements traditional banks,” Ng said, adding that Hong Kong should upgrade its virtual banks to manage virtual assets, which is in line with the government’s Web3 development goals.Ng said at a…