Monat: Oktober 2023

Veröffentlicht am

Tether plans to start publishing real-time reserve reports in 2024

  • Tether is planning to introduce real-time reserve data reporting by 2024.
  • Tether currently updates its reserve data daily and issues monthly and quarterly reports,
  • According to its Q2 attestation Tether reserves had an excess of $3.3 billion.

Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), is gearing up to enhance the transparency of its operations by updating the frequency of releasing reserve data reports.

According to Paolo Ardoino, Tether’s Chief Technical Officer and the upcoming CEO, the company is planning to initiate real-time publication of reserve data by the year 2024.

Transparency of Tether’s reserves

The move comes in response to ongoing concerns about the transparency of Tether’s reserves, which is essential for maintaining trust in the stablecoin. Currently, Tether publishes and updates its reserve data at least once a day. In addition to daily updates, the company also issues monthly reserve reports and quarterly reserve reviews.

In Tether’s latest Q2 attestation, performed by accounting firm BDO, it was revealed that the company had bolstered its excess reserves by $850 million, bringing the total excess reserves to a substantial $3.3 billion. Furthermore, the report disclosed that Tether had approximately $72 billion worth of indirect exposure to United States Treasuries held by money market funds, with US Treasuries collateralizing its overnight repurchase agreements.

Real-time reserve reporting

This commitment to real-time reporting is a significant step toward ensuring the stability and reliability of Tether in the cryptocurrency market. The move will provide users and investors with immediate and up-to-date information on the assets underpinning the stablecoin, thereby addressing previous criticisms and increasing credibility.

Tether’s efforts to enhance transparency align with the broader objectives of creating a trustworthy environment for stablecoin users and investors.

The post Tether plans to start publishing real-time reserve reports in 2024 appeared first on CoinJournal.

Veröffentlicht am

Ferrari adds BTC, ETH, XRP to payment options; ADA, DOGE & QUBE ready for a jump

The high-octane world of luxury cars has always been a hotbed for innovation, not just in design and performance, but also in the realm of customer experience and payment methods. On October 14, Ferrari, the iconic luxury carmaker, took a leap into the future by accepting crypto payments. 

As we witness the impact of this move, there’s a new ICO in the crypto arena that’s been steadily garnering attention and redefining how we invest in AI technology startups – InQubeta ($QUBE).

InQubeta ($QUBE) – a gateway to AI investments

In a world increasingly driven by Artificial Intelligence, startups are often at the intersection of breakthrough innovations and immense growth potential. However, channelling investments into these ventures has been a challenge that often deterred potential investors. InQubeta is on a mission to revolutionize this space.

Providing a robust platform for fractional investment in AI startups, InQubeta introduces QUBE tokens as the bridge connecting potential investors with promising startups. These startups, in their quest for funds, create some of the coolest NFTs representing either rewards or equity. These NFTs are then available for purchase by investors using QUBE tokens, creating a symbiotic relationship where startups acquire necessary capital, and investors enjoy the returns and benefits based on their NFT holdings.

More than just another crypto to buy, QUBE is also a deflationary ERC20 coin, with an in-built burn mechanism. Moreover, as a governance token, QUBE is not just a passive investment. It grants its holders the power to shape the platform’s future, making decisions, proposing changes, and voting on pivotal aspects of InQubeta’s journey.

Ensuring security and trust, InQubeta has received a positive audit from Hacken and a KYC verification from BlockAudit. With an ongoing presale that has already raked in over $3.7 million, the platform’s roadmap hints at a future filled with expansion; one that will make QUBE the best crypto investment of this decade.

You can now buy a Ferrari with Crypto

As reported by Reuters on Oct. 14, Ferrari has now opened the gates for its clientele to purchase luxury cars using the best cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Partnering with BitPay as its payment processor, this iconic brand ensures a seamless transaction experience for its customers. 

Regardless of whether a client chooses to pay with traditional currency or cryptocurrency, there will be no difference in prices, fees, or surcharges. While the offering currently caters to U.S. customers, Ferrari also has its eyes set on the European market.

The rising tide: ADA, DOGE & QUBE

With the increasing integration of cryptocurrencies in mainstream industries, top altcoins like ADA Cardano (ADA), Dogecoin (DOGE), and InQubeta (QUBE ) are poised for significant market movements. As businesses and consumers alike become more crypto-savvy, these tokens, backed by robust projects and utilities, are likely to see a surge in demand and valuation.

Cryptocurrencies are no longer the outliers; they’re rapidly becoming the norm. As we stand at this juncture, it’s not just about the cars we drive or the tokens we invest in; it’s about the future we’re collectively crafting. Pioneering platforms like InQubeta highlight the evolving narrative of the modern financial landscape. 

To take part in the InQubeta project you can visit InQubeta Presale and join The InQubeta Communities.

The post Ferrari adds BTC, ETH, XRP to payment options; ADA, DOGE & QUBE ready for a jump appeared first on CoinJournal.

Veröffentlicht am

Litecoin (LTC) spikes as Bitcoin hits $30k

  • Litecoin price jumped 4% to above $64 on Friday morning.
  • LTC was up as positive sentiment permeated the altcoin market amid Bitcoin’s rally to $30k.

Litecoin (LTC) rose more than 4% early on Friday amid a positive reaction across the altcoin market to Bitcoin’s fresh spike to $30k. LTC traded to intraday highs of $64 across major exchanges, with daily trading volume hitting $370 million as buyers pushed the total crypto market cap to over $1.17 trillion.

Why is Litecoin price up today?

Although a bullish picture has looked increasingly possible with metrics such as Litecoin hashrate jumping to new highs, one of the likely catalysts could be the increased crowd noise on the probability of a spot Bitcoin ETF hitting the market sooner than anticipated. 

Recent developments involving potential ETF issuers and the US Securities and Exchange Commission (SEC) have added to the growing belief that the first spot ETF is a matter of when and not if. A court ruling on the Grayscale ETF today is one of the things on the crypto events watchlist for today.

That has Bitcoin price poised for takeoff, and as quant trader Charles Edwards pointed out on X today, the flagship cryptocurrency’s positive outlook is enhanced by the several key metrics in this cycle.

Other catalysts for LTC price today could be the regulation news related to SEC dropping charges against Ripple executives. The SEC sued Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen when it filed a lawsuit against the San-Francisco-based company in December 2020. The agency’s charges against the two were dismissed on Thursday, with the trial scheduled for April next year now not happening.

LTC looks to have pumped amid a similar reaction across the altcoin market. While Litecoin’s modest gains are dwarfed by the colossal returns for some of the best performing altcoins today – including Solana and Bitcoin SV – the bullish flip has analysts pointing to a potential retest of the psychological $100 level if upward momentum holds.

BTC breaking higher on further positivity could see Litecoin push for year-to-date highs before a bull market sets in a parabolic rally.

The post Litecoin (LTC) spikes as Bitcoin hits $30k appeared first on CoinJournal.

Veröffentlicht am

Crypto rally adds $46 billion to global market cap: here’s why prices are up

  • Crypto prices are rallying, with Bitcoin (BTC) rising more than 5% to near $30k.
  • Total market cap is up more than 4% to $1.17 trillion, with over $46 billion added in the past 24 hours.
  • Ethereum and XRP have also spiked, above $1,600 and $0.52 respectively as ETF talk and Ripple news buoy markets.

The global cryptocurrency market capitalization is up 4.6% to above $1.17 trillion, with about $46.5 billion added to the crypto market cap in the past 24 hours. The global 24-hour trading volume was about $88 billion, according to data from market aggregator CoinGecko.

Why are crypto prices rising?

A spike in crypto prices today is the reason behind the uptick in the total cryptocurrency market cap. As can be seen in the heatmap below, the upward trend for Bitcoin (BTC) and across the altcoin market, has fueled the jump in total market cap.

Crypto market heatmap. Source: Coin360

The injection of volatility in the sector is likely the flip in sentiment amid increased speculation on developments around approval for a Bitcoin ETF. While the recent “fake news” on the topic saw Bitcoin and alts give up gains made in a crazy rally on Monday, the upward move towards the $30k level is on again.

Bitcoin rose to a new high of $29,961 early Friday, spiking towards levels seen on Monday when the benchmark crypto asset touched the $30k mark. BTC price was up more than 5% in the past 24 hours and nearly 12% in the past week, and some analysts are predicting the beginning of a bull market rally.

The gains come as market experts and crypto analysts point to the growing probability of a Bitcoin ETF. Developments such as BlackRock and other asset managers update their filings to align with SEC feedback.

XRP rallies amid Ripple news

Other than the Bitcoin ETF train, another positive catalyst for today’s market performance could be the news that the SEC has dropped its charges against two top Ripple executives. The case was dismissed on Thursday after the regulator and Ripple reportedly agreed to end the matter.

XRP price rallied to above $0.52, while positivity across the market saw Ethereum break above $1,600.  Solana led the top 10 altcoins, spiking to above $27 with a 24-hour rally of 12%.

The post Crypto rally adds $46 billion to global market cap: here’s why prices are up appeared first on CoinJournal.