Tether, the largest stablecoin operator, made headlines on Christmas Day by issuing 1 billion USDT (Tether) on the Ethereum blockchain. This movement is explained as follows. Paolo Ardoino, Tether’s CTO and new CEO, is part of what the company calls a restocking of “licensed but unissued.” This means that the tokens are ready for future issuance requests and chain swaps, but are not yet in circulation.. In traditional finance, inventory replenishment involves stocking goods in anticipation of future demand and preventing stockouts and surplus inventory. Tether adopts this approach by creating new USDT tokens, which are stored as reserves in…
Author: Crypto Flexs
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Tron has remained at the top of blockchains in terms of daily active addresses. TRX fell more than 3% and most market indicators were weak. 2023 was pretty good Tron (TRX) In terms of adoption and use of blockchain. TRX has not only surpassed major competitors such as BNB Chain (BNB) and Bitcoin (BTC), but has also consistently maintained its top spot over the past few months. Tron’s performance in 2023 is diverse. AMBCrypto checked data from token terminals and found that Tron continues to top the list of cryptocurrencies by daily active addresses. At press time, TRX had 1.4…
The recent rise in value of PancakeSwap has caught the attention of the cryptocurrency community. The token in question, CAKE, has surged a whopping 54% over the past seven days. With a robust market capitalization of nearly $900 million and an impressive fully diluted valuation of $1.3 billion, PancakeSwap has solidified its position as a significant player in the decentralized finance (DeFi) space. Strategic Token Burn Drives PanCakeSwap Rise One of the key strategies that has contributed to PancakeSwap’s success lies in its proactive approach to token supply management. In a strategic move to increase scarcity and create a more…
Grayscale Investments, a leading cryptocurrency custodian, has announced the resignation of Barry Silbert from its Board of Directors. Silbert, known as the founder and CEO of Grayscale’s parent company, Digital Currency Group (DCG), has officially stepped down effective January 1, 2024. The move comes as the cryptocurrency industry is going through difficult times, especially following the market downturn in 2022. . Grayscale Investments has been at the forefront of advocating for the conversion of the world’s largest Bitcoin trust into an exchange-traded fund (ETF). The company’s ambitions to gain US approval for this transition add important context to the board…
SOL co-founder Anatoly Yakovenko Recently, he emphasized the relationship between Solana and Ethereum by saying, “Solana is Ethereum.” The claim came in a post that revealed more about the future. Blockchain Interoperability and Solana’s It plays a role in all of that. Why “Solana is Ethereum” in post Yakovenko elaborated on his “Solana is Ethereum” comment on his With this, Yakovenko raised the following possibility. Solana and Ethereum Even if they operate different protocols and consensus mechanisms, they are interoperable. The co-founder added that this will become more feasible “as danksharding expands” because SOL blocks can be submitted to “Ethereum’s…
Binance Coin (BNB) has surged from around $264 to over $288 in the past 24 hours, an increase of 9%, according to data from Coingecko. Binance’s flagship cryptocurrency began showing an upward trend in mid-December after a bearish month. As of press time, BNB’s market capitalization is $42.41 billion, ranking fourth. Binance Coin is in the spotlight again, with its price surging 9% in the last 24 hours. BNB remains under pressure, but investors seem to be flocking to the token amid a broad rally across cryptocurrencies. BNB was previously one of the third largest altcoins, behind Ethereum (ETH) and…
Thunder Terminal, an on-chain trading platform, recently faced a serious security incident when it admitted that a third-party compromise resulted in a $240,000 exploit across 114 wallets. Despite Thunder’s assurances that user funds are now safe, the hackers responsible dispute this claim, claiming it is “all lies” and demanding an additional ransom for user data.In an incident report published on December 27, Thunder Terminal stated that the exploit resulted in a total loss of 86.5 Ether and 439 Solana in a short 9 minutes. Attackers exploited Thunder’s data breach, which occurred eight days before MongoDB was targeted, to gain unauthorized…
Asia • December 27, 2023 3:41 AM EST Posted 1 minute ago In ~ Korea’s Ministry of Human Resources announced that it will disclose the cryptocurrency holdings of high-ranking public officials starting next year.Human Resources Department presentation Today, details of assets, including cryptocurrencies, of approximately 5,800 civil servants will be made public through the government’s ‘Public Ethics and Transparency Initiative’. system. Portal for public official registration management and asset disclosure review.The move comes after the country’s lawmakers. passed two bills In May, it made cryptocurrency assets part of the annual asset disclosure required for elected and high-ranking officials.Minister of Human…
IMF Managing Director Kristalina Georgieva warned that widespread acceptance of cryptocurrencies could undermine the country’s financial stability. Her concerns are not fundamentally different from those of other global economic institutions. One suggestion is to not classify cryptocurrencies as fiat or officially government-backed currencies. Georgieva warns of instability due to high cryptocurrency adoption rate At a digital currency conference held in Seoul on December 14, Georgieva highlighted concerns about cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), saying that their increased use could lead to central banks controlling interest rates and capital flows. They pointed out that disruption could potentially…
This article was published in Bitcoin Magazine. Sponsored by “The Primary Issue”. HIVE DIGITAL TECHNOLOGY LTD Part of Bitcoin Magazine’s “Buy The Numbers” content series. click here To get an annual Bitcoin Magazine subscription.Click here to download a PDF of this article.There are less than 30,000 blocks left until the halving, and the stakes couldn’t be higher. For many Bitcoin mining operators, this will determine the success or failure of bets made in this Bitcoin era. Did I grow up too fast? Can you handle a catastrophic drop in hash prices? Will my current energy contract cancel my operation? Bitcoin…