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The U.S. Federal Reserve needs to regulate and enforce the law against stablecoin issuers, said Federal Reserve Vice Chairman for Supervision Michael Barr, making the federal-oversight argument that has been the major sticking point as the U.S. House of Representatives debates legislation.Republican lawmakers have leaned into a state-oversight route for
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The recently published Tether report for Q3 2023 show that the company’s cash reserves are healthy and secured loans have been reduced. Tether Holdings Limited, the company responsible for the world’s largest stablecoin by market cap, USDT, has published its attestation for Q3 of 2023. According to Tether, the attestation re-affirms that Tether’s
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Signed off on by accounting firm BDO Italy, the attestation disclosed $86.4 billion of assets in reserves as of September 30 against $83.2 billion in liabilities. Those $86.4 billion in assets included about $72.6 billion exposure to U.S. Treasuries such as direct T-bill investments, repurchase agreements and deposits in money
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OKX has marked its one-year anniversary of consistently publishing Proof of Reserves, showcasing a commitment to transparency and trust. In the past year, the major player in the crypto world has been working hard to build trust and transparency, after the issues in the market caused by the FTX collapse. The
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Although in the immediate aftermath of FTX there was a concern that Sam Bankman-Fried had made the case for decentralized exchanges (DEXs) – and those fears still resonate with some consumers – the data shows that centralized exchanges (CEXs) are very much alive and well. "I think there are advantages
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According to Tether’s new boss, the firm plans to bring the long-awaited update in the coming year. Stablecoin issuer Tether is set to start publishing real-time data on its reserves, a question that has been bothering the crypto community for years. In an interview with Bloomberg, Paolo Ardoino, Tether’s newly appointed chief
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North American digital asset miner Hut 8 revealed that it mined 111 Bitcoin in September, or an average production rate of approximately 3.7 Bitcoin a day. This brings the total of self-mined BTC reserves to 9,366, an 8% increase over the previous month. Growing reserves At the time of writing, Bitcoin currently sits
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Bitcoin (BTC) held by leading crypto exchanges like Coinbase, Binance, and Kraken are near a six-year low, CryptoQuant data on September 20
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied South Korea has set a new reserve requirement for crypto exchanges, mandating them to have at least $2.3 million in reserves. Cryptocurrency exchanges in South Korea with bank-issued real-name accounts will have to reserve 30% of their
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