DEEPSEEK
Tether's Financial Triumph: Record $2.85B Q4 Profit and Strategic Asset Growth
Tether Holdings Limited reported a Q4 2023 profit of $2.85 billion, boosted by US Treasuries, Gold, and Bitcoin reserves, and a net profit of $6.2 billion, showcasing strong financial health.
TrueUSD Depegging Linked to Binance Launchpool Activities
TrueUSD (TUSD) depegged below its $1 parity, dropping to $0.97, amid significant selling on Binance and issues with real-time reserve attestations. The depegging was linked to activities on Binance Launchpool and raises questions about stablecoin stability and transparency.
Circle's USDC Reserves Remain Stuck at SVB, Raises Concerns Over Crypto Stability
Circle's $3.3 billion worth of USDC reserves held at Silicon Valley Bank (SVB) have not been processed, raising concerns over the stability of the cryptocurrency. This follows the disclosure that 20% of Circle's USDC reserves were held in several financial institutions, including the recently bankrupted Silvergate and the now-shuttered SVB. The world of cryptocurrencies has been characterized by volatility, leading to concerns over their stability and reliability as a store of value. One cryptocurrency that has been touted as a more stable alternative to Bitcoin is USD Coin (USDC), a stablecoin that is pegged to the US dollar.
Canada-Based Tahini's Restaurants Trades Entire Cash Reserves For Bitcoin
Tahinis Restaurants announced that it would be converting all of its cash reserves into Bitcoin.
