USDT will leave Europe, a new ground operation by Israel, and Saudi Arabia’s policy shift – summarizing the week.

Cryptocurrencies

Tether’s CEO believes that USDT is the “best friend” of the U.S. He made this statement following the news of stablecoins being delisted from Coinbase in Europe for not complying with new regulatory rules.

If USDT is added to the delisting list, Europeans will have to switch to another stablecoin. The key is for Tether to maintain confidence in its reserves

September was the worst month for BTC miners’ revenue since the start of the year, with earnings of $815.7 million.

We haven’t seen a new capitulation from miners yet, but the current BTC price is clearly insufficient for them. A new sell-off is just a matter of time if the price doesn’t go above $70k

Billionaire Mark Cuban called all meme tokens an ongoing scam, pointing to their lack of investment value.

Mark overlooks the power of the community and the potential utility a project might find over time. However, for low-cap coins, they all share the same fate – a scam ☠️

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Israel began a ground operation in Lebanon, to which Iran responded with a missile strike. This new escalation in the Middle East led to a correction in risky assets and an increase in oil prices.

Now, all attention is on Israel’s response, which could target Iran’s military installations or its oil infrastructure

Saudi Arabia threatened a $50-per-barrel oil price if OPEC+ does not stop violating production limitation agreements.

However, the Saudis later retracted those words. But what’s important is not their verbal backtracking, but whether they will decide to increase oil production by the end of the year

In November, the Federal Reserve will lower the interest rate by only 25 basis points with a 97% probability. Investors’ expectations sharply shifted after the release of U.S. unemployment data, which showed a decline to 4.1%.

This is positive for the dollar and negative for the S&P 500 and BTC, but for now, the market believes that even a minimal rate reduction will be enough to continue the bull market

Sources: CoinPost