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Tether reported an all-time-high increase in USDT’s excess reserves and recorded net profit s in the last quarter of 2023.  According to a Q4 attestation, stablecoin operator Tether (USDT) made $2.8 billion in net profit s from price appreciations tied to its Bitcoin (BTC) and gold reserves. U.S. Treasury bills secured the digital payments firm $1 billion in net operation profit s, lifting excess reserves to $5.4 billion.  This marked a $2.2 billion increase from the previous quarter. Some of this profit was put to work funding BTC mining, AI development, P2P communications, and other project investment endeavors.  BDO, Tether’s chosen audit provider, attested the firm’s excess reserves fully covered its $4.8 billion in outstanding unsecured loans, which partly back its USDT stablecoin. The firm generated a net profit of $6.2 billion for the whole of last year. Tether’s Q4 attestation underscores our commitment to transparency, stability, and responsible financial man...

We explore some of the newest crypto currency releases on the market right now, recently listed on exchanges and featured on CoinMarketCap. Due to a resurgence in the volatility of the crypto currency market, a new digital currency called Meme Kombat has been attracting more interest as it approaches the end of its presale. New Cryptocurrency Releases, Listings, and Presales Today  Meme Kombat is gaining popularity now that its presale nears its end. Let’s examine three new cryptocurrencies. It’s important to note that predicting the continual upward trends appears to be sometimes accompanied by unexpected situations. 1. LiNEAR Protocol (LNR) LiNEAR Protocol is a platform that provides innovative omnichain liquidity staking and restaking solutions. The platform has brought several innovations, such as automatic validator optimization, significantly contributing to decentralizing and securing the network. Users can reassign their stake to more than 200 validators ...

Ethereum developers have successfully deployed the Dencun update to the Sepolia testnet. The hard fork includes several tools that are designed to reduce fees on the Ethereum blockchain, while additionally providing new opportunities for bridges and stabilization funds. This was not the first attempt to deploy the update to the test network, however, as developers did not provide launch details, but noted that Sepolia has been update d to Dencun. Sepolia has finalized! Sorry for an uneventful upgrade https://t.co/86HXWRGO7a — terence.eth (@terencechain) January 30, 2024 Dencun is also implementing proposal EIP-4844, known as “proto-danksharding.” It is designed to scale the network by creating a new transaction type to store more data. The developers expect that the update will reduce transaction fees in second-level (L2) networks based on roll-up technology. You might also like: Speed vs decentralization: could L2 solutions undermine cryptocurrency core ethos? ...

Circle is set to launch its U.S. Dollar-pegged stablecoin , USDC, on the Celo blockchain network . Initially a standalone blockchain network , Celo is transitioning to become a part of the Ethereum network as a Layer 2 scaling solution, aiming to improve its performance and capacity. 1/ Native $USDC is coming to @Celo! Celo is a mobile-first and EVM-compatible blockchain network that’s built for the real world and designed for fast, low-cost payments worldwide. Explore what native USDC on Celo means for the ecosystem. https://t.co/ctUn9yWLDb — Circle (@circle) January 30, 2024 “Circle is proud to join the mission-driven Celo ecosystem as a blockchain that’s known for providing fast, low-cost payments worldwide,” Shamus Noonan, Senior Manager of Business Development at Circle, said in a statement. “This partnership will help broaden access for USDC and leverage Celo’s mobile-first user-base in regions where blockchain adoption is highest....

On January 30, Nexo, a digital assets institution, achieved affirmation of its security and privacy protocols by attaining the ISO 27017 and ISO 27018 certifications , per the information shared with Finbold. This builds upon the established foundation of ISO 27001 standards within the organization. Awarded by RINA—a multinational inspection, certification , and engineering consulting company renowned for its standards—reflects a dedication to safeguarding client data, bolstering cloud security, and upholding privacy standards in the contemporary digital landscape. The importance of implementing robust security measures has become increasingly apparent. In 2023, despite a 50% reduction in losses attributed to security incidents within the cryptocurrency sector, the total still amounted to $1.7 billion. This figure underscores the significance of Nexo’s adherence to security standards. The collaborative impact of ISO 27001, ISO 27017, and ISO 27018 Acknowledged for its Informati...

Hackers attacked a Binance-backed Trust Wallet on Jan. 17 but failed to compromise any meaningful customer data thanks to the provider’s quick reaction. In a Jan. 29 X post, Trust Wallet disclosed a security breach suffered by its third -party customer support service. The issue was discovered during a routine security check and swiftly addressed so no user funds were lost. Private keys or seed phrases were not stolen, and the attackers only managed to briefly interact with a filing system maintained between Trust Wallet and its customer service firm.  The unauthorized access was limited to the names/nicknames and email addresses used to file a support ticket with us via the third -party system. The inner contents of tickets were not accessed. Trust Wallet X post Hey Trust Wallet Customer Support Users, On January 17, 2024, the third -party customer support service we use experienced a security breach . Firstly, no user funds were at risk from the breach . We swiftly co...

The bullish ALT price prediction ranges from $0.7573 to $0.8879. ALT price might also reach $0.9658 in 2024. ALT’s bearish market price prediction for 2024 is $0.3637. Table of contents What is AltLayer (ALT)? AltLayer (ALT) Market Overview AltLayer (ALT) Current Market Status AltLayer (ALT) Price Analysis 2024 AltLayer (ALT) Price Analysis – Bollinger Bands AltLayer (ALT) Price Analysis – Relative Strength Index (RSI) AltLayer (ALT) Price Analysis – Moving Average Convergence Divergence (MACD) AltLayer (ALT) Price Prediction 2024 AltLayer (ALT) Price Prediction 2025 AltLayer (ALT) Price Prediction 2026 AltLayer (ALT) Price Prediction 2027 AltLayer (ALT) Price Prediction 2028 AltLayer (ALT) Price Prediction 2029 AltLayer (ALT) Price Prediction 2030 AltLayer (ALT) Price Prediction 2040 AltLayer (ALT) Price Prediction 2050 Conclusion FAQ What is AltLayer (ALT)? Based on the documents, AltLayer is an open and decentralized protocol for rollups. Th...

A closely followed analyst thinks that Bitcoin (BTC) may be in the process of creating a pattern that could reignite bullish momentum for the crypto king. Last week when Bitcoin was trading below $40,000, pseudonymous analyst Cheds told his 322,600 followers on the social media platform X that BTC would flash a bullish signal if it moved above $40,500. With BTC’s latest bounce, Cheds updates his outlook, saying that Bitcoin could be printing an inverse head and shoulders pattern (I-HNS) with $40,500 serving as the new support or the right shoulder. “BTC see if we throwback or breakthrough. Could see I-HNS (inverse head and shoulders) perhaps.” Source: Cheds/X An inverse head and shoulders pattern is a technical formation with bullish implications as the right shoulder suggests that bulls are willing to accumulate the asset without waiting for the price to drop to its previous low. In Bitcoin’s case, the last week’s low stands at ar...

The Terra Classic burns over a billion LUNC tokens within seven days. Also, over 5.66 billion LUNC were burned in one day, specifically on January 1.  LUNC Army is increasingly convinced that the path to $0.01 is apparent. The Terra Classic (LUNC) community remains steadfast in its commitment to the $1 target, demonstrating substantial progress by incinerating over a billion LUNC tokens within a seven-day window. In a recent statement, pro-LUNC X user “CryptoBull” proclaimed the digital asset unstoppable amid increased burns and staking of LUNC. Specifically, CryptoBull called attention to the fact that 1,117,048,514 LUNC tokens were wiped out of circulation between January 17 and 24.  Moreover, the screenshot in the tweet indicated that alongside the over 1.11 burned tokens, more than 7.197 billion LUNC coins had been staked within the same period. The statistics suggested that the staked value reflects a 14.95% increase relative to the previous week...

After days of correcting that saw Bitcoin’s (BTC) valuation face the possibility of extended sell-off below the $40,000 mark, the maiden cryptocurrency has made short-term gains as it seeks to establish a sustained rally.  As the market anticipates the next Bitcoin move, a crypto analyst by the pseudonym IamZeroIka , in an X (formerly Twitter) post on January 27, identified a critical price level that could determine the fate of Bitcoin’s bullish momentum.  According to the expert, Bitcoin’s recent bounce, which saw it touch above $38,000 for the first time in weeks, could be a temporary uptick if it fails to surpass the $42,000 mark.  He noted that breaking through this resistance level would open the door for further gains, potentially pushing Bitcoin toward $44,000 or even $46,000. “Unless Bitcoin reclaims the 42K (HTF), this is nothing more than a lower high, in my opinion. <…> Everything below 48K can be used as fuel to recharge short positi...

BTC is currently priced at $40,178.16 after experiencing a 0.28% surge in 24 hours. Santiment observed that the total number of BTC wallets has been declining at the “swiftest rate” since early October. The reason behind this scenario is that it is due to market capitulation, a surge of selling pressure in the downtrend market. After the hype of the Bitcoin spot ETF’s approval, Santiment, a market on-chain analytics platform, has observed that the number of total Bitcoin wallets has been declining at the “swiftest rate” since early October, just days before the major crypto bull cycle started. The analytics platform also stated, “The crowd is showing a similar level of impatience this time around, with over 487K wallets holding 1 BTC or less being liquidated in the last 4 days alone.” The reason behind this scenario is that it is due to market capitulation, a surge of selling pressure in the downtrend market. However, it should be noted that the past price mo...