Traders in China have reportedly exchanged $ 90 billion worth of cryptocurrencies on Binance despite a ban on their trading in the country. According to a report quoting internal figures and sources, the volume made the People’s Republic Binance’s biggest market. Binance Processed Monthly Crypto Transactions Worth $ 90 Billion in China …
Tether, the company behind the USDT stablecoin, has published an attestation revealing the company’s financials during Q2 2023. The document, prepared by BDO, a network of accounting and consulting services, found Tether has increased its reserves by $ 850 million during this period, with its overall excess reserves reaching $ 3.3 billion. Tether …
The stablecoin economy continues to shrink, with more than $ 3 billion in value removed from today’s top stablecoin valuations in less than 40 days. The dollar-pegged tokens USDP and GUSD experienced the largest 30-day reductions, shedding 45.1% and 27.2%, respectively. Top Stablecoins Tumble: $ 3 Billion Evaporates in Less Than 40 Days …
China’s central bank governor has revealed that transactions using the country’s central bank digital currency (CBDC) reached 1.8 trillion yuan ($ 250 billion) at the end of June. In addition, the People’s Bank of China (PBOC) official stated that digital yuan in circulation amounted to 16.5 billion yuan. Latest Digital Yuan Stats People’s Bank …
Crypto exchange FTX is trying to regain $ 1 billion in a lawsuit against founder Sam Bankman-Fried (SBF) and some former executives. FTX’s new management argues the funds were misappropriated through dubious deals and transactions made before the coin trading platform went bankrupt last fall. Failed Crypto Firm FTX Files New Lawsuit Against Founders …