Crypto News
Tether Reports Q2 Profit of $4.9 Billion, CEO Teases U.S. Venture
The stablecoin giant said it has $127 billion in exposure to U.S. Treasuries.Source link
Bitcoin Shrugs Off Brief Fed Panic
Most experts agreed that the U.S. Federal Reserve was going to once again leave interest rates untouched, but bitcoin still tumbled when the central bank published its official decision. BTC Brushes Off Fed Shock, Bounces Back There were few, if any, surprises at Fed Chair Jerome Powell’s press conference on Wednesday, but bitcoin still plummetedSource link
SEC’s Atkins: ‘Most Crypto Assets Are Not Securities’ Under Bold New Vision
WASHINGTON, D.C. — Securities and Exchange Commission (SEC) Chairman Paul Atkins said his agency is launching "Project Crypto" with an aim to make a quick start on the new crypto policies urged by President Donald Trump.Atkins announced the new initiative in a Thursday speech at the America First Policy Institute, saying the effort will be rooted in the recommendations of the President's Working Group report issued Wednesday by the White House. He described it as "a commission-wide initiative to modernize the securities rules and regulations to enable America’s financial markets to move on-chain.""I have directed the commission staff to draft clear and simple rules of the road for crypto assetdistributions, custody, and trading for public notice and comment," Atkins said....
SEC Chair Paul Atkins Unveils Project Crypto, Greenlighting ICOs, Airdrops and More
The SEC also plans to create new registration pathways for DeFi platforms and allow certain crypto investment contracts to trade on unregulated exchanges.Source link
Tether Reports $4.9B Net Profit in Q2, Invested $4B in U.S. Initiatives
Tether International Ltd., the holding company behind the largest stablecoin, USDT, posted second-quarter net profit of $4.9 billion.The company held over $162.5 billion in reserves against $157.1 billion in liabilities, the USDT tokens issued, according to the latest attestation by accounting firm BDO. That puts excess reserves at $5.4 billion.Exposure to U.S. Treasuries, including direct holdings and instruments like money market funds and overnight reverse repurchase agreements, rose past $127 billion as it issued more than $13 billion of USDT in the quarter.The company said it booked year-to-date recurrent profits of $3.1 billion, and another $2.6 billion in mark-to-market contributions of gold and bitcoin (BTC) price appreciation. The firm held roughly $8.9 billion in BTC in the reserves, translating...