Category: Market News

Tether, the leading blockchain-enabled platform behind the widely used stablecoin, USD₮, has achieved a significant milestone by surpassing its previous all-time high market cap of $83.2 billion, which was set in May 2022. The company’s Chief Technical Officer, Paolo Ardoino, attributes this achievement to the growing demand for financial freedom and the trust that customers have placed in Tether. Ardoino stated, “Today’s numbers demonstrate that people want access to financial freedom, and when given that access, they will make use of it.” He emphasized Tether’s role in providing a safe…

Read More

Asia’s leading trust company and qualified custodian, First Digital, is making waves in the global financial ecosystem with the announcement of its new stablecoin, First Digital USD (FDUSD). Launched by FD121 Limited under the brand “First Digital Labs,” this novel stablecoin pledges to bring stability, diversification, and innovation to the existing financial landscape. Stablecoins, digital currencies pegged to stable assets like the U.S. dollar, provide a hedge against volatility, a means of remittance, and a cost-effective gateway to financial services. With FDUSD, First Digital Group aims to enhance these benefits…

Read More

Crypto.com received an in-principle approval in Singapore last June. Coinbase and Blockchain.com are the other exchanges that have received in-principle approval in Singapore. Crypto.com has now been awarded Digital Token License in Singapore. A year after receiving in-principle approval in Singapore, Crypto.com has completed the licensing process. Crypto.com has today announced that it has received its Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS). Acknowledging this great milestone in Singapore, Crypto.com’s CEO Kris Marszalek said: “The Monetary Authority of Singapore…

Read More

New Huo Tech, a Hong Kong-listed tech company, recently reported its mid-year financial performance for the period ending on March 31, 2023. The report reveals a complex financial picture with some noteworthy trends and developments. Most striking is the company’s exceptional growth in revenue. Compared to the same period in 2022, revenue has surged by a staggering 612.3% from HKD 352 million to HKD 2.506 billion. This substantial growth underscores the effectiveness of New Huo Tech’s business model and its success in gaining a significant foothold in its market. The…

Read More

The investor who accurately called the bottom of the bear market late last year is doubling down on his bullish stance on crypto assets. In a lengthy thread, Chris Burniske, former ARK Invest analyst and current partner at venture capital firm Placeholder, tells his 260,400 Twitter followers that the recent artificial intelligence (AI) hype has left crypto undervalued and overlooked. According to Burniske, AI and crypto will thrive together, rather than compete, as many believe. “Never ceases to amaze me how humans chasing hot balls of money eerily resemble mosquitoes…

Read More

The parent company of one of the biggest cell service providers in the US is becoming a validator on layer-2 scaling network Polygon (MATIC). In a new company announcement, Deutsche Telekom, the conglomerate that owns telecommunications giant T-Mobile, says it will begin validating nodes for Polygon, just like it’s been doing for other prominent crypto assets. “Deutsche Telekom’s subsidiary, Deutsche Telekom MMS, extends its validation nodes to Polygon, providing staking and validation services for the Proof-of-Stake (POS) network and Polygon’s Supernets solutions. Deutsche Telekom MMS is one of only 100…

Read More