Global #cryptocurrency

In a notable move, Tether, the issuer of the popular stablecoin USDT, has invested $100 million in Bitdeer Technologies Group, a US-listed Bitcoin miner owned by Chinese billionaire Jihan Wu. The deal also includes the option for Tether to acquire an extra $50 million worth of shares within the next year, further solidifying its foothold in the Bitcoin mining industry.

The debut of spot Bitcoin ETFs in January 2024 marked a significant turning point for the cryptocurrency market, according to experts like Lynn Martin, president of the New York Stock Exchange Group. These exchange-traded funds are being hailed for their role in boosting liquidity and driving wider acceptance of cryptocurrencies among the general public.

A recent uptick in the number of Ethereum addresses holding 10,000 ETH or more indicates a significant shift from asset distribution to accumulation. This trend reflects growing confidence among large investors in Ethereum's long-term viability.

Ripple Labs is pushing back against the SEC's demands for hefty penalties in their legal dispute, arguing that both its current financial status and historical contracts should not play a role in determining penalties.

Bitcoin, the dominant digital asset globally in terms of market value, may be on the brink of a significant surge as major holders, often called "sharks," increase their accumulation of the cryptocurrency, suggesting a potential turnaround from the bearish market.

Jack Jia, a former Consensys employee and the founder of Stable.com, has introduced USD3, a new stablecoin focused on payments, despite the current absence of a regulatory framework and market uncertainty.