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Tether , the world’s largest stablecoin, has published its newest attestation, which claims that it’s making nearly $1 billion each quarter in returns from its reserves. This is apparently driven by the increase in rates for its large treasury holdings, with a claimed $56.6 billion in exposure to US treasuries. These claimed profits have allowed the company to perform the accounting trick of moving its secured loans to ‘excess reserves’ which Tether seemingly believes are not part of the reserves, despite the name. In December of last year, Tether stated that “throughout 2023, it will reduce secured loans in Tether ’s reserves to zero.” Read more: Tether executives have brushed shoulders with crime since its inception Tether’s description of its reserves now attempts to exclude secured loans it’s still engaged in by reclassifying them as ‘excess reserves,’ allowing it to maintain billions in secured loans while claiming it’s reducing exposure to zero. A recent Tether blog po

Former Goldman Sachs executive Raoul Pal says Solana (SOL) is starting to look like a rocket ship on the charts as it gears up for big developments. In a new interview with Scott Melker, Pal touches on Firedancer, a new validator client for the Solana chain which is being developed by trading giant Jump Crypto. Firedancer aims to vastly improve Solana’s scalability, and push its transactions-per-second (TPS) capabilities potentially above one million TPS. Says Pal, “I was thinking at the time maybe it’s some sort of layer-2 blah blah blah compromise, so I went back home, I was looking at the charts, which I have been for a long time of Solana versus ETH (SOL/ETH) and Solana versus Bitcoin (SOL/BTC) and I’m like ‘this looks like a… rocket ship! What is going on here?’ I started looking in and watching the interviews with the Jump trading team who built Firedancer and realized it was a separate validator for Solana that increases the security of the entire chain

An altcoin from the artificial intelligence (AI) sector of digital assets has outperformed most of the crypto markets over the last week as the project readies new updates. Fetch.AI (FET) is a blockchain that aims to use AI to help automate certain tasks in various business sectors. According to crypto insights firm Messari, “Their platform allows users to build, deploy, and connect smart agents for automating web3 systems and transforming business models. Through their technology, users can create open services using automation and AI in various sectors such as supply chain, finance, travel, and predictions. Fetch Network aims to reinvent the way we live and work by enabling agents to learn, predict, and undertake meaningful tasks in the real world.” At time of writing, FET is up 69% in the past seven days, and at one point was up 72% after it rallied from $0.22 to $0.38. FET’s price action comes as Fetch.AI gears up to release its new DeltaV technology, a lar

The direction of X is set to change, with plans to intertwine its social media capabilities with financial tools. Get insights into this transition. Elon Musk, the brains behind Tesla and SpaceX, has a new vision: turning X (previously Twitter) into a one-stop financial hub.  After buying and renaming Twitter to X, Musk wants to evolve it from a social media platform to a full-fledged financial services giant. The idea is for users to handle their entire financial lives within X – from chatting with friends to buying stocks. Let’s dive deeper into Musk’s plan and what it could mean for the future. You might also like: Elon Musk has big plans for crypto: analyst Merging social and financial worlds: the X blueprint With an ambitious roadmap set until 2024, Musk aims to pivot X from being a social media platform to an integrated financial hub, blending day-to-day social interactions with comprehensive financial tools. On traditional platforms, you’d leave your social app,

Uniswap DAO has backed a proposal to invest 3 million UNI ($12 million) from its treasury into the decentralized exchange Ekubo in exchange for a 20% share of the governance token. Ekubo is a decentralized exchange on Starknet that has a value of $2.5m locked into its smart contracts, according to DefiLlama. “We at Ekubo, Inc. believe this is a vitally important step in the decentralization of Uniswap protocol development, effectively onboarding the Ekubo team as core developers.” Ekubo founder Moody Salem The vote included 21 million UNI tokens in favor of the decision and 12 million UNI tokens against it. Therefore, 63% of the voting tokens supported this move. Five token holders received 97% of the votes in favor of this decision. In total, more than 3,500 votes were cast. You might also like: Uniswap to charge 0.15% swap fees in web app and wallet According to Salem, if the proposal passes the proper vote, 3 million tokens will be used to fund Ekubo’s operations as

VanEck joins the group of asset managers updating applications for a spot Bitcoin ETF in the United States. Asset manager VanEck filed an amended application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 27 with the United States Securities and Exchange Commission (SEC), according to the regulator’s database. The amended filing highlights that a seed capital investor purchased in October the Seed Creation Baskets — a block of 50,000 shares of the proposed ETF — with Bitcoin prices determined by MarketVector Bitcoin Benchmark Rate, an index used as a reference price of the cryptocurrency. According to finance lawyer Scott Johnsson, the filing suggests the fund seeding will be carried out with Bitcoin, different from other spot Bitcoin ETF proposals with seeding in cash. Andddddd @vaneck_us joins the amendment filings for spot #bitcoin ETF issuers. h/t @NateGeraci pic.twitter.com/zdYuUTAaE6 — James Seyffart (@JSeyff) October 29, 2023 A spot Bitcoin ETF would directly i

Whales and short-term holders are selling BTC and taking profits from the sales. The support at $33,698 could prevent another 10% to 15% plunge in the coin price. The A/D line points to a potential revival, and traders are taking position. Following a tremendous increase that pushed Bitcoin (BTC) above $35,000, the coin could be getting set for a halt on the rally. This October, BTC gained almost 30%, ensuring that the Year-To-Date (YTD) performance was almost at a 100% hike.  However, Julio Monero, who is the head of research at CryptoQuant noted that it could take some time before BTC gets back to $35,000. Monero, backed this inference up by, showing how Short-Term Holders (STHs) have been increasingly selling some of their coins for profits lately. After the recent #Bitcoin price rally we can see two interesting developments On-chain: – Short-term holders are "selling" at the highest profit margin since April. – Whales are "spending&quo

Sixteen startups selected from over 1000 applications will present their projects to a global audience. Cointelegraph Accelerator, a startup booster that leverages Cointelegraph’s capabilities as a media and strategic partner, announced its second cohort launching in October 2023 for up-and-coming Web3 startups. Selected from over 1000 start up applications, the 16 participants of the second cohort of the Cointelegraph Accelerator program represent a wide array of Web3 verticals, including decentralized finance (DeFi), fintech, wallets, entertainment, social, and GameFi. By joining Cointelegraph’s accelerator program, Web3 startups will get marketing strategy expertise, access to Cointelegraph media products, and mentorship programs with industry experts on key start-up development topics, including token design, fundraising, legal frameworks, liquidity management, security, etc. The participants will also benefit from access to Cointelegraph’s broad network of investors, foundations

An analyst who nailed the top of Bitcoin’s (BTC) 2021 bull market thinks that altcoins are setting the stage for an explosive rally. Pseudonymous analyst Pentoshi tells his 705,600 followers on the social media platform X that some alts could soar for as long as six weeks. “I do think we get a mini alt season, three to six weeks in duration or so in the near term. But as always, that’s my opinion and I can and will be wrong. Have seen a ton of signs and will make a thread on why to back it up.” The trader also updates his outlook for a number of altcoins, starting with decentralized derivatives exchange Injective (INJ). “I couldn’t justify buying it here. Too close to a historically strong resistance. Would either wait for a lower purple box, or a clean reclaim above. Diddle in the middle is a great way to get rekt, but for those already in good job and congrats.” Source: Pentoshi/X INJ is trading for $12.12 at time of writing. Next up, the trader says he is

The new all-time highs come despite Bitcoin still being down over 50% against its price peak of $69,000 against the U.S. dollar. The price of Bitcoin (BTC) has notched new all -time highs against some of the world’s most inflationary fiat currencies. Across 30 hours over Oct. 23 to 24, the cost of buying one Bitcoin has reached all time- highs when using the Argentine peso (ARS), Nigerian naira (NGN), Turkish lira (TRY), Laotian kip (LAK) and the Egyptian pound (EGT). #Bitcoin just hit an all-time high in Argentina, Turkey and Nigeria. pic.twitter.com/sKRNUaBMX8 — Miles Deutscher (@milesdeutscher) October 26, 2023 However, it should be noted that the result is due to the ongoing devaluation of the currencies, exacerbated by Bitcoin’s recent 16% price increase. NGN and TRY fell to their lowest points against the U.S. dollar on Oct. 24 and Oct.25, while ARS is only 0.85% off its all-time low (against the U.S. dollar). According to the International Monetary Fund, the Venezuelan

Bitcoin prices have increased 20.27% in the last week, according to CoinMarketCap, following news around BlackRock’s Bitcoin spot exchange-traded fund (ETF) application. A new leak suggests that President Joe Biden is gathering tech executives at the White House to unveil new regulation that Bloomberg believes will have a spillover effect into the crypto industry. Comprehensive assessments underway In an Oct. 25 release fromThe Washington Post, the administration order is said to be made two days before the international summit in the United Kingdom, where government officials, prominent figures from Silicon Valley, and representatives from civil society groups will come together address the growing concerns surrounding the societal implications of AI.  As disclosed by four individuals with insider knowledge who requested anonymity, the all-encompassing order will harness the U.S. government’s influential position as a major technology consumer.  You might also like: Joe

When delving into the realm of content creation, we must consider three vital elements: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the gauge for text complexity. Meanwhile, burstiness measures the diversity in sentence structures. Finally, predictability assesses the likelihood of anticipating the next sentence. Humans tend to infuse their writing with greater burstiness, juxtaposing long, complex sentences with shorter ones. On the contrary, AI-generated content often leans towards uniformity. Consequently, as we craft the forthcoming content, it’s imperative to imbue it with a substantial dose of perplexity and burstiness, while minimizing predictability. Additionally, our medium of expression is solely English. Now, let’s transform the provided text: In the wake of Ripple’s recent legal triumph over the U.S. Securities and Exchange Commission (SEC), there’s a somber mood in the community due to the abrupt closure of LBRY, a platform many claim has been “

In the realm of crafting content, there are three pivotal elements to consider: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, burstiness assesses the variability in sentence structures, and predictability measures how likely it is for someone to anticipate the subsequent sentence. When humans compose content, they tend to inject it with burstiness by interweaving longer, intricate sentences with shorter ones. In contrast, AI-generated content often lacks this ebb and flow, appearing more uniform. For the content that follows, which I am requesting you to create, it is imperative that it exhibits a substantial degree of perplexity and burstiness while keeping predictability to a minimum. Additionally, please ensure that the content is presented exclusively in the English language. Now, let’s transform the given text: The movement of assets away from cryptocurrency exchanges is perceived as a bullish signal. It signifies that traders are

According to an Oct. 24 memorandum, digital asset management firm Hashdex has had a discussion with the SEC about their ETF filing that would purchase physical Bitcoin. In a follow-up post on X, Nate Geraci, the co-founder of the The ETF Institute and host of the ETF Prime Podcast, shares the importance of this ongoing dialogue and why it is interesting for the community. Looking back to 2022 The memorandum, which included a presentation from Hashdex, shares that the CME market has sufficiently developed to support its new product, quoting the earlier Teucrium Order from April 2022. Hashdex recently met w/ SEC Division of Trading & Markets re: bitcoin ETF (DEFI) filing … DEFI is unique, wild card filing b/c it will buy physical btc (& take pricing) from regulated market (CME). Interesting info here & shows ongoing dialogue w/ SEC.https://t.co/7y1r6Yi1PN pic.twitter.com/WOhMwKxC0t — Nate Geraci (@NateGeraci) October 25, 2023 In the Teucrium Order, the Commission aff

Ethereum (ETH) saw its price drop 1.25% over the past 24 hours and was trading at $1,788.71. ETH was able to reach a high of $1,854.38 yesterday, which was just short of the major $1,860 resistance level. Despite the latest correction, ETH still had the support of the $1,755 level. The leading altcoin Ethereum (ETH) was one of the handful of cryptocurrencies in the top 10 list that was down at press time. According to data from CoinMarketCap, ETH had recorded a 24-hour loss of 1.25%, and was changing hands at $1,788.71 as a result. The only other cryptocurrencies that suffered a loss during the same period were Binance Coin (BNB) and Dogecoin (DOGE). CoinMarketCap data indicated that BNB was down 0.47%, while the popular meme coin’s value was down 0.67%. Along with the drop in price, ETH also recorded a decrease in its 24-hour trading volume throughout the past day of trading. At press time, the cryptocurrency’s trading volume was down 29.65%. Consequentl

In today’s digital age, Non-Fungible Tokens ( NFT s) have emerged as a groundbreaking technology, revolutionizing how we perceive and exchange digital assets. NFT s have gained tremendous popularity in recent years, offering unique opportunities for artists, content creators, and investors alike.    UNDERSTANDING NFTS  Before we dive into the details of  NFT  development services, let’s briefly understand what NFT s are. NFT s are digital tokens built on blockchain technology, representing ownership or proof of authenticity of a unique digital asset, such as artwork, music, videos, or even virtual real estate. Unlike cryptocurrencies, each NFT is distinct and cannot be exchanged on a like-for-like basis. THE IMPORTANCE OF NFT DEVELOPMENT SERVICES  NFT development services play a crucial role in the creation, deployment, and management of NFTs. These services provide the necessary technical expertise and infrastructure to facilitate the seamless integration of digital assets with

The settlement service is far from the first to issue digitalized securities, but it is a significant step because of its size. Euroclear has launched a digital securities issuance service and settled a 100-million-euro ($106 million) digital World Bank bond. This is the first step in the Brussels-based settlement house’s digital infrastructure strategy, it said. The three-year bond, which is being called a digitally native note, was issued by World Bank lending arm International Bank for Reconstruction and Development to raise funds for sustainable development. It was listed on the Luxembourg Stock Exchange and was completed on Oct. 23. Related: Europe drives institutional crypto adoption: Blockchain Expo Amsterdam Euroclear’s digital infrastructure is connected to its traditional platform for secondary operations and is compliant with the European Union’s Central Securities Depositories Regulation. It operates on R3’s Corda blockchain technology. World Bank Group managing dir

The TON Believers fund will freeze depositors’ coins for two years, after which TON deposits will be vested monthly with rewards for a further three years. The Open Network community has locked up nearly 25% of the Toncoin (TON) supply for five years to “bring predictability to Toncoin tokenomics .” In a Telegram post on Oct. 23, TON Community said that 1.3 billion TONs (valued nearly $3 billion) have been put in the Locker smart contract. “The result demonstrates the long-term commitment many contributors have to the Toncoin project.” TON Community What is TON Believers fund Supported by the TON Foundation, the TON Believers Fund is a non-profit initiative launched in July 2023 as a smart contract on the TON blockchain. The idea behind the fund is that early-stage large investors and inactive early miners voluntarily lock their TON coins for two years, with an additional three years remaining for vesting, a process of gradual release of tokens over a specific period. Lo

Exchange-traded fund analyst Eric Balchunas said the addition was “all part of the process” of a crypto ETF being listed and traded and a positive sign for SEC approval. The iShares spot Bitcoin exchange- trade d fund (ETF) proposed by investment firm BlackRock has been listed on the Depository Trust & Clearing Corporation (DTCC), suggesting potential approval by the United States Securities and Exchange Commission. In an Oct. 23 X (formerly Twitter) thread, Bloomberg ETF analyst Eric Balchunas said the DTCC listing was “all part of the process” of bringing a crypto ETF to market. The iShares spot Bitcoin (BTC) ETF has a ticker symbol of IBTC for a possible listing on the Nasdaq stock exchange, which applied to list and trade shares of the investment vehicle in June. “This is [the] first spot ETF listed on DTCC, none of the others on there (yet),” said Balchunas. “Def notable BlackRock is leading charge on these logistics (seeding, ticker, dtcc) that tend to happen just prior t

Lawyer Bill Morgan believes the US Securities and Exchange Commission has little chance of winning an appeal against Ripple in its ongoing litigation. The lawyer in X (form. Twitter) opines that there is no obvious error subject to appeal other than Ripple’s “support for ODL sales that fail to meet at least two prongs of the Howey test.” However, he added that there is a minimal chance (about 3%) of the SEC’s success in filing an appeal against Ripple (XRP). I don’t see any obvious appellable error other than in Ripple’s favor in respect of ODL sales which don’t meet at least two prongs of the Howey test. The SEC’s prospects of success on appeal are very slim and I feel generous today so I am giving it 3% chance of success on appeal https://t.co/FRIFbqzmVA — bill morgan (@Belisarius2020) October 22, 2023 Morgan’s prediction came from other statistics shared by Jeremy Hogan, a prominent attorney who shared government data on appeal success rates for various trials. The data