Howard Lutnick, CEO of Cantor Fitzgerald LP, confirmed Tether Holdings’ financial health. Lutnick, whose company acts as Tether’s custodian, ensured that Tether’s reported assets matched its financial statements. As of June, Tether reported a significant asset base of approximately $86 billion, a figure to support the $83 billion USDT stablecoin in circulation. Cantor Fitzgerald plays a key role in managing many of these assets for Tether. This confirmation is pivotal given the long-standing skepticism of Tether’s claims that the dollar fully backs the stablecoin on a one-to-one basis. In an interview with Bloomberg Television, Lutnick claimed that Tether has the…
Author: Crypto Flexs
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The CEO of Ripple Labs is confident that other cryptocurrencies will follow in Bitcoin’s (BTC) footsteps in discovering exchange-traded funds (ETFs). In a new interview with CNBC, Ripple CEO Brad Garlinghouse said that an Ethereum (ETH) ETF is “definitely” a possibility. “That’s for sure. I won’t set a horizon for when, but I definitely think there will be other ETFs. Of course there will be other ETFs… However, according to the Ripple Labs CEO, the U.S. Securities and Exchange Commission (SEC) approved a BTC ETF after a court forced it to do so. Garlinghouse hopes that other cryptocurrencies will not…
According to on-chain data, Bitcoin currently has a large wall of resistance. The exact levels that make up this important range are: A large amount of Bitcoin supply was purchased between $42,700 and $44,000. According to data from market intelligence platforms: Into the Block, BTC is just below the important on-chain resistance zone. In on-chain analysis, the strength of a resistance or support level is defined based on the number of coins acquired by investors there. For any holder, their cost basis is obviously significant. Therefore, it may be more likely that the cryptocurrency spot price will see some movement…
The International Monetary Fund (IMF) issued a serious warning about the impact of artificial intelligence (AI) on the global employment market. In a recent report, the IMF estimated that around 40% of jobs globally could be affected by AI, with this figure rising to 60% in developed countries such as the UK. Reorganizing the nature of work Historically, automation and information technology have primarily affected routine tasks. But the potential of AI extends to high-skill jobs, bringing both risks and opportunities. About half of jobs in developed countries could see productivity gains from AI integration, while the other half face…
According to a report by Bloomberg Intelligence, Grayscale’s Bitcoin ETF experienced significant withdrawals worth approximately $579 million. The size of these withdrawals is notable in the context of the broader market for Bitcoin ETFs. In contrast, other spot Bitcoin ETFs attracted nearly $819 million in investments. This stark difference in investor behavior highlights a critical assessment of the Grayscale Bitcoin ETF’s performance following SEC approval. Initial enthusiasm, which saw trading volumes exceed $2.3 billion on the ETF’s launch day, has cooled, and these outflows signal a shift in investor sentiment. The withdrawal trend from the Grayscale ETF is consistent with…
Bitcoin BTC +0.20% Prices rebounded on Tuesday as analysts suggested the possibility of a U.S. interest rate freeze at the Federal Reserve’s next meeting in late January could support digital assets. The price of the world’s largest cryptocurrency by market capitalization has risen more than 1.4% in the past 24 hours, rising to $43,071 at 11:34 a.m. ET, according to The Block’s pricing page. Bitcoin price is up more than 1.4% in the last 24 hours. Image: Block.Possibility of Fed interest rate freezeIn 15 days, the Federal Reserve is scheduled to meet to determine the direction of the central bank’s…
January 16, 2024 The EEA’s Defi Risk Assessment, Management and Accounting Working Group (also known as “DRAMA WG”) today published its review draft of the Defi Risk Guidance Discussion Paper. The group invites public comments on the draft until April 15, 2024. The review draft is available at https://entethalliance.org/specs/drafts/defi-risks/20231116/. The discussion paper provides guidance on the risks associated with DeFi operations and how to assess, manage, account for, and mitigate them. It is primarily written for DeFi protocol users and protocol investors, but is also suitable for protocol developers who want to minimize risk in their protocols. Likewise, information can…
join us telegram A channel to stay up to date on breaking news coverage Dogwifhat price has traded down 18% in the last 24 hours. $0.285 As of 12:08 AM EST. This revision follows the bull market, which saw the token value double from a week ago. Dogwifhat Price Prediction: Will Meme Coin Recover? An in-depth analysis of the 4-hour WIF/USDT chart shows that bears are still in control of the meme coin market, as pointed out by several indicators. Since the Dogwifhat price is likely to continue to plunge in the near term, the MACD indicator has moved into…
On the Korean exchange Upbit, altcoin dominance accounted for 87% of the total trading volume in January. Investors also showed interest in Bitcoin and Ethereum. The Korean market has seen strong demand for cryptocurrencies over the past few years and has often been a key driver of increased altcoin trading volume. Korean exchanges increase altcoin trading volume According to Joo Ki-young, an on-chain analyst and CEO of CryptoQuant, Upbit, Korea’s largest exchange, had an altcoin share of 87% in total trading volume in January. A closer look shows that altcoins will still account for a significant portion of trading volume…
The fourth Bitcoin halving is almost upon us. This halving has the potential to bring some very interesting surprises. This halving means that the Bitcoin supply subsidy has been reduced from 6.25 BTC per block to 3.125 BTC per block. These supply reductions occur every 210,000 blocks, or roughly every four years, and are part of Bitcoin’s gradual inflation mitigation approach to an ultimately limited circulating supply. Even though the limited supply of 21 million coins is not that much, the basic characteristics of Bitcoin. This predictability of supply and inflation rates has been key to driving demand and belief…