Altcoin News by Thebittimes.Com

At Bitcoin 2024 in Nashville, Cantor Fitzgerald, Tether’s custodian for United States treasuries, announced a new lending business which will allow people to get leverage on their bitcoin. Cantor Fitzgerald chief exec Howard Lutnick reportedly stated that it is “going to launch with $2 billion in lending .”  The announcement noted that Cantor Fitzgerald “partner with select bitcoin custodians” to launch this new business line.  Lutnick also noted that the firm owns a “shitload” of bitcoin . Protos has reached out to Cantor Fitzgerald to determine who it has partnered with for this new business line, but at press, it has not responded. Tether’s loans In December 2022, Tether announced its intention to “reduce secured loans in Tether’s reserves to zero.” Despite this, Tether still has secured loans, but it now considers them ‘excess reserves’ and states they “won’t have any impact on the to...

Tether has released the most recent assurance through the end of 2023, which claims continued growth in total reserves, profits, and excess reserves.  Tether , in its announcement regarding these financial results, bragged that “the fourth quarter witnessed a record-breaking net profit of $2.85 billion, of which ~$1 billion in net operating profit s (were primarily interests from US Treasuries) with the remaining primarily from the appreciation of Gold and Bitcoin reserves.” This growth in profits has funded some of Tether’s new investments, with Tether claiming that it used $640 million of the profits from this quarter to fund its venture investing, something that is now managed “within a new segregated VC umbrella.” Tether has recently been actively invested in energy, mining, staking, and other industries.  These investments are now purportedly under this new “VC umbrella,” but Tether has been an active venture capital investor for ...

A court case has revealed unique insights into Tether’s relationship with UK-based investment banking firm Britannia Financial, as High Court filings show the stablecoin issuer deposited over $1 billion with its subsidiary. On Tuesday, the Financial Times reported that documents in a dispute between Arbitral International and Britannia Financial show Tether deposits at the heart of the case. Arbitral claims Britannia didn’t pay all of an agreed-upon sum for a Bahamas-based brokerage it sold the firm in June 2021. Both parties have attested that there was an agreement to pay an extra sum a year after the sale, based on the amount of profitable assets the brokerage held — including from clients Arbitral brought in. Under that agreement, Arbitral argues, Tether’s $1 billion deposit would entitle the firm to the extra sum because it was made within the year timeframe . Only, Britannia Financial believes that Tether put the funds in its subsidiary based in London...

A fake Skype app designed to drain Tether (USDT) being sent to Ethereum and Tron wallets has been flagged by security experts as being possibly linked to a Chinese phishing gang that previously utilized a fraudulent Binance app.   Blockchain security firm Slow Mist first discovered the fake app when it was approached by a victim who claimed his funds had been stolen.  Slow Mist analyzed the app and discovered its ability to detect Tron and Ethereum addresses in both incoming and outgoing messages before replacing them with an alternative address predetermined by the phishing gang.  It then hands over control of the victim’s phone to the gang and uploads files, photos, ID credentials, etc to their domain. A Tron address associated with the phishing gang has reportedly received 192,856 USDT through 110 separate transactions while a separate Ethereum address received 7,800 USDT over 10 different transactions. Chinese gang first impersonated Binance  Slow Mist also deduced th...

In an Oct. 31 post, Tether Holdings Limited shared its assurance opinion for Q3 2023, which reaffirmed the accuracy of Tether’s reserves report. Notable findings included cash and cash equivalent reserves standing at 85.7%, mostly comprised of US T-Bills, in the amount of $72.6 billion between direct and indirect exposure. Weathering a volatile market The announcement went on to highlight the stablecoin issuer’s ability to weather market volatility, reporting quarterly returns from Cash and Cash Equivalent investments to be $1 billion. Tether today releases its attestation for Q3 /2023.- cash & cash equivalent portion of reserves is all time high at 85.7%, yielding ~$1B – US T-bill (direct and indirect) exposure at $72.6B – reduced secured loans by $330M – investments in energy, bitcoin mining and P2P tech… https://t.co/PXQ1H5gqUX pic.twitter.com/ibKJRPlBAg — Paolo Ardoino (@paoloardoino) October 31, 2023 You might also like: DoJ asked to m...

The move comes ten months after Binance removed FTX’s token from its platform, except for the FTT/BUSD trading pair. Cryptocurrency exchange Binance will re-open FTX’s token FTT for trades on Sept. 22, 2023 (08:00 UTC). According to a press release on Sept. 21, the token will be available for trading in the FTT/USDT pair. Binance didn’t explain the reason behind the move but noted that it would also remove the FTT/BUSD trading pair. In addition to FTT, the exchange will list the following pairs: ARK/USDT, CREAM/USDT, GFT/USDT, IQ/USDT and USDT/VAI for spot trading . You might also like: SBF’s father was unhappy with $200k salary at FTX On Sept. 29, 2023, (03:00 UTC), Binance will also remove and cease trading on the ARK/BUSD, CREAM/BUSD, GFT/BUSD, IQ/BUSD, and BUSD/VAI trading pairs. FTT price on CoinMarketCap | Source: CoinMarketCap Amid the news, FTT price gained 8%, reaching the $1.1 mark, according to data from CoinMarketCap. However, the ...

Blockchain intelligence platform TRM Labs revealed that Tether (USDT) on the Tron network was being used for most of the transactions. Blockchain intelligence platform TRM Labs recently released a report that presents several case studies highlighting the use of crypto currency by ISIS affiliates across Asia. It linked on-chain connections between these groups and pro-ISIS fundraising campaigns in Syria. Published on July 21, the report indicated that there was “ mounting on-chain evidence” from the past twelve months that pro-ISIS networks in Tajikistan, Indonesia and Afghanistan have utilized crypto currency to help facilitate operations. According to TRM, the majority of transactions linked with the cases involved the use of Tether (USDT) on the Tron network (TRX). Extract from 'TRM Finds Mounting Evidence of Crypto Use by ISIS and its Supporters in Asia' report. Source: TRM Labs On July 21, Cointelegraph covered a presentation by Tara Annison, Elliptic’s former head of t...

Stablecoin issuer Tether is making a strategic investment in energy production and Bitcoin mining to support El Salvador’s adoption of BTC. Stablecoin issuer Tether (USDT) has reached into its own war chest to  invest in El Salvador’s $1 billion renewable energy project to help drive Bitcoin (BTC) adoption in the Central American nation. The firm responsible for issuing USDT across cryptocurrency markets is one of a handful of companies invest ing in El Salvador’s renewable power generation project. Volcano Energy is set to generate electricity from solar and wind energy in El Salvador to power future Bitcoin mining operations in the country. The planned 241-megawatt (MW) renewable energy park is the latest move in El Salvador’s Bitcoin adoption drive after the country made BTC legal tender back in 2021. Cointelegraph caught up with Tether CTO Paolo Ardoino during Money 20/20 in Amsterdam in June 2023. Attending the renowned finance and payments convention promoting Bitfinex Pay and...

BNB is clinging on to its short-term bullish bias amid the Binance-SEC fiasco but a 30% price decline is still on the cards. The market capitalization of BNB (BNB) has dropped by more than $7 billion since June 5 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance. BNB price eyes technical bounce The impact of the SEC lawsuit on Binance has been substantial so far with BNB down nearly 15% week-to-date. BNB daily market capitalization. Source: TradingView On June 6, the SEC requested the Washington D.C. district court to freeze Binance's U.S. assets worldwide. The order, if passed, will likely force the exchange to repatriate "fiat currency and crypto assets deposited, held, traded, and accrued by customers" at its U.S. platform. Meanwhile, Binance's United States' entity halted trading for several pairs, including Bitcoin (BTC), Tether (USDT), and Binance USD (BUSD). Theoretically, these events risk stirring people's BNB buy...