Tether is a type of cryptocurrency known as a stablecoin, pegged to the value of traditional fiat currencies like the US dollar. Bitfinex is a cryptocurrency exchange that has been associated with Tether.
One significant concern raised by critics is whether Tether has sufficient reserves to back the amount of USDT tokens in circulation. There have been allegations that Tether did not hold a 1:1 ratio of reserves to the tokens it issued, which is a claim central to the stablecoin concept.
Legal inquiries have also been conducted to determine whether Bitfinex and Tether participated in market manipulation. Tether and Bitfinex are embroiled in a legal dispute with the New York Attorney General (NYAG). Using Tether's reserves to conceal the losses, the NYAG accused Bitfinex in 2019 of hiding the loss of $850 million in client and corporate cash. The case brought into question Bitfinex and Tether's financial operations and transparency.
It was announced in February 2021 that Bitfinex and Tether had struck a deal with the NYAG. Bitfinex and Tether agreed to pay $18.5 million and provide monthly reporting of their reserves as part of the settlement. There was no condition on the corporations' admission of wrongdoing in the settlement.
#USDT #Cryptocurrencies #news

$BTC 💰 unexpectedly surged to $37.4k 📈, with a market capitalization of $1.485 trillion.
The United States reported the annual PPI rate for October at 1.3%, below the expected 1.90%, and the previous month's value of 2.20%; the monthly PPI rate for October was -0.5%, lower than the expected 0.10%, and the previous value was 0.50%. The annual core PPI rate for October was 2.4%, below the expected 2.70%, with the previous value at 2.70%.
Commerzbank, the fourth-largest bank in Germany, has been granted a license for crypto custody.
Disney has partnered with NBA Top Shot developer Dapper Labs to launch Disney Pinnacle, a mobile-based NFT app. Disney Pinnacle will offer NFTs inspired by badges on the Flow blockchain, and its official debut will be on the Apple App Store.
zkEVM Kakarot has announced the completion of its seed funding round led by Stake Capital and LongHash, with previous participation in the Pre-Seed round from Vitalik Buterin, StarkWare, and others.
Binance Labs has revealed its investment in the native ARVM token of Arkham. Arkham is a blockchain data platform similar to Nansen.
Circle has deployed the CCTP testnet on dYdX Chain & Noble (Cosmos Network), enabling cross-chain movement of USDC.
OKX collaborates with Polygon, launching the L2 named X1, using $OKB as the native token and covering gas fees.

#zkSync. #BinanceLabs #BTC

In a week marked by significant increases in BTC and various developments surrounding Bitcoin & Ethereum ETFs, many altcoins have reached new highs. Let's review the notable news and alphas from the past 7 days:
➡️ I. Highlighted Market News
BlackRock files registration for a spot Ethereum ETF named iShares Ethereum Trust.
Following this news, the price of $ETH surged, surpassing the $2100 mark. This triggered positive trends around Ethereum's robust growth, including:
🔸Layer 2: $ARB, $OP...
🔸LSD: $LDO, $RPL, $SSV...
🔸LSDFi: $PENDLE, $MAV, $LBR
Apart from BlackRock, other major investment funds such as VanECK, ARKinvest, Hashdex, Invesco/Galaxy, and GrayScale are also establishing Ethereum funds.
The expected benefits of the Spot ETF are anticipated to bring substantial growth opportunities to the Ethereum ecosystem.
Additionally, Ethereum is set to host the annual Devconnect event from 15/11 in Istanbul. There is a high likelihood of announcements regarding upcoming important technological updates on Ethereum.
FTT doubles after SEC Chairman Gary Gensler comments on FTX potential reboot.
SEC Chairman Gary Gensler recently commented on the possibility of FTX restarting operations with new leadership if they adhere to regulations. Three investors are competing to acquire FTX:
🔸Bullish – A crypto exchange led by former New York Stock Exchange President Tom Farley.
🔸Fintech Fig Technologies – A U.S. startup.
🔸Proof Group, an investment firm owned by Fahrenheit, the group that successfully acquired Celsius in May.
The winner may be chosen in December and is expected to relaunch FTX 2.0 after completing bankruptcy procedures, likely in the coming year.
The hopes for reviving the exchange that once held the second position in the crypto market are strengthening.

#etf #BTC #Prediction

Portfolio Optimization:
Maintain a concise portfolio to focus on and monitor held projects. Avoid spreading too thin, ensuring optimal resource utilization.

Entry Strategy:
Entry is crucial; expertise and research are key. Successful investing involves strategic entry aligned with the coin's upward cycle and the overall market trend.

USDT Reserve Strategy:
Consider USDT as a strategic holding for high-profit potential during market downturns. Use it wisely to seize opportunities in a volatile market.

Dollar-Cost Averaging (DCA):
Stagger capital allocation with an initial order, followed by DCA orders based on price drops. Distinguish USDT for DCA from the reserve USDT.

Loss Management:
After a loss, use remaining USDT to either add to the reserve for market opportunities or increase holdings of long-term coins at favorable prices.

Entry for Psychological Stability:
Align entries with the trend to reduce pressure. Even incorrect entries provide opportunities for higher profits with larger volumes.

Dealing with Losses:
Accept mistakes, learn continuously, stick to an investment plan, avoid excessive risk, and take breaks to stabilize mindset.

In summary, manage losses by accepting mistakes, continuous learning, strategic investing, and maintaining discipline in risk management.